EX-99.2 3 q42018exhibit992earningsre.htm EXHIBIT 99.2 Exhibit
                                                

Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2018
 
2017
 
2018
 
2017
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,130

 
$
1,124

 
$
5,339

 
$
5,307

Natural gas
289

 
275

 
952

 
867

Total operating revenues
1,419

 
1,399

 
6,291

 
6,174

Operating Expenses:
 
 
 
 
 
 
 
Fuel
179

 
143

 
769

 
737

Purchased power
128

 
145

 
581

 
638

Natural gas purchased for resale
122

 
115

 
374

 
311

Other operations and maintenance
473

 
443

 
1,772

 
1,705

Depreciation and amortization
242

 
228

 
955

 
896

Taxes other than income taxes
109

 
113

 
483

 
477

Total operating expenses
1,253

 
1,187

 
4,934

 
4,764

Operating Income
166

 
212

 
1,357

 
1,410

Other Income, Net
18

 
25

 
102

 
86

Interest Charges
99

 
96

 
401

 
391

Income Before Income Taxes
85

 
141

 
1,058

 
1,105

Income Taxes
16

 
200

 
237

 
576

Net Income (Loss)
69

 
(59
)
 
821

 
529

Less: Net Income Attributable to Noncontrolling Interests
1

 
1

 
6

 
6

Net Income (Loss) Attributable to Ameren Common Shareholders
$
68

 
$
(60
)
 
$
815

 
$
523

 
 
 
 
 
 
 
 
Earnings (Loss) per Common Share – Basic
$
0.28

 
$
(0.24
)
 
$
3.34

 
$
2.16

 
 
 
 
 
 
 
 
Earnings (Loss) per Common Share – Diluted
$
0.28

 
$
(0.24
)
 
$
3.32

 
$
2.14

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
244.3

 
242.6

 
243.8

 
242.6

Weighted-average Common Shares Outstanding – Diluted
246.8

 
244.7

 
245.8

 
244.2




                                                

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
 
December 31, 2018
 
December 31, 2017
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
16

 
$
10

Accounts receivable - trade (less allowance for doubtful accounts)
463

 
445

Unbilled revenue
295

 
323

Miscellaneous accounts receivable
79

 
70

Inventories
483

 
522

Current regulatory assets
134

 
144

Other current assets
63

 
98

Total current assets
1,533

 
1,612

Property, Plant, and Equipment, Net
22,810

 
21,466

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
684

 
704

Goodwill
411

 
411

Regulatory assets
1,127

 
1,230

Other assets
650

 
522

Total investments and other assets
2,872

 
2,867

TOTAL ASSETS
$
27,215

 
$
25,945

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
580

 
$
841

Short-term debt
597

 
484

Accounts and wages payable
817

 
902

Taxes accrued
53

 
52

Interest accrued
93

 
99

Customer deposits
116

 
108

Current regulatory liabilities
149

 
128

Other current liabilities
282

 
326

Total current liabilities
2,687

 
2,940

Long-term Debt, Net
7,859

 
7,094

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
2,623

 
2,506

Accumulated deferred investment tax credits
43

 
49

Regulatory liabilities
4,637

 
4,387

Asset retirement obligations
627

 
638

Pension and other postretirement benefits
558

 
545

Other deferred credits and liabilities
408

 
460

Total deferred credits and other liabilities
8,896

 
8,585

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,627

 
5,540

Retained earnings
2,024

 
1,660

Accumulated other comprehensive loss
(22
)
 
(18
)
Total Ameren Corporation shareholders’ equity
7,631

 
7,184

Noncontrolling Interests
142

 
142

Total equity
7,773

 
7,326

TOTAL LIABILITIES AND EQUITY
$
27,215

 
$
25,945




                                                

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Year Ended December 31,
 
2018
 
2017
Cash Flows From Operating Activities:
 
 
 
Net income
$
821

 
$
529

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
938

 
876

Amortization of nuclear fuel
95

 
76

Amortization of debt issuance costs and premium/discounts
20

 
22

Deferred income taxes and investment tax credits, net
224

 
539

Allowance for equity funds used during construction
(36
)
 
(24
)
Stock-based compensation costs
20

 
17

Other
44

 
(10
)
Changes in assets and liabilities
44

 
93

Net cash provided by operating activities
2,170

 
2,118

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(2,286
)
 
(2,132
)
Nuclear fuel expenditures
(52
)
 
(63
)
Purchases of securities – nuclear decommissioning trust fund
(315
)
 
(321
)
Sales and maturities of securities – nuclear decommissioning trust fund
299

 
305

Other
18

 
7

Net cash used in investing activities
(2,336
)
 
(2,204
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(451
)
 
(431
)
Dividends paid to noncontrolling interest holders
(6
)
 
(6
)
Short-term debt, net
112

 
(74
)
Maturities of long-term debt
(841
)
 
(681
)
Issuances of long-term debt
1,352

 
1,345

Issuances of common stock
74

 

Debt issuance costs
(14
)
 
(11
)
Repurchases of common stock for stock-based compensation

 
(24
)
Employee payroll taxes related to stock-based compensation
(19
)
 
(15
)
Other
(2
)
 
(1
)
Net cash provided by financing activities
205

 
102

Net change in cash, cash equivalents, and restricted cash
39

 
16

Cash, cash equivalents, and restricted cash at beginning of year
68

 
52

Cash, cash equivalents, and restricted cash at end of year
$
107

 
$
68