EX-99.2 3 q32019exhibit992earnin.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 September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,528

 
$
1,590

 
$
3,928

 
$
4,209

Natural gas
131

 
134

 
666

 
663

Total operating revenues
1,659

 
1,724

 
4,594

 
4,872

Operating Expenses:
 
 
 
 
 
 
 
Fuel
147

 
216

 
409

 
590

Purchased power
148

 
148

 
440

 
453

Natural gas purchased for resale
31

 
30

 
236

 
252

Other operations and maintenance
434

 
429

 
1,301

 
1,299

Depreciation and amortization
248

 
241

 
745

 
713

Taxes other than income taxes
131

 
127

 
375

 
374

Total operating expenses
1,139

 
1,191

 
3,506

 
3,681

Operating Income
520

 
533

 
1,088

 
1,191

Other Income, Net
34

 
32

 
99

 
84

Interest Charges
96

 
101

 
290

 
302

Income Before Income Taxes
458

 
464

 
897

 
973

Income Taxes
92

 
105

 
158

 
221

Net Income
366

 
359

 
739

 
752

Less: Net Income Attributable to Noncontrolling Interests
2

 
2

 
5

 
5

Net Income Attributable to Ameren Common Shareholders
$
364

 
$
357

 
$
734

 
$
747

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
1.48

 
$
1.46

 
$
2.99

 
$
3.06

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
1.47

 
$
1.45

 
$
2.97

 
$
3.04

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
245.9

 
244.1

 
245.5

 
243.6

Weighted-average Common Shares Outstanding – Diluted
247.5

 
246.3

 
247.0

 
245.5






AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)

 
September 30,
2019
 
December 31, 2018
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
20

 
$
16

Accounts receivable - trade (less allowance for doubtful accounts)
478

 
463

Unbilled revenue
273

 
295

Miscellaneous accounts receivable
56

 
79

Inventories
488

 
483

Current regulatory assets
74

 
134

Other current assets
106

 
63

Total current assets
1,495

 
1,533

Property, Plant, and Equipment, Net
23,894

 
22,810

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
798

 
684

Goodwill
411

 
411

Regulatory assets
1,168

 
1,127

Other assets
780

 
650

Total investments and other assets
3,157

 
2,872

TOTAL ASSETS
$
28,546

 
$
27,215

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
336

 
$
580

Short-term debt
544

 
597

Accounts and wages payable
598

 
817

Taxes accrued
164

 
53

Current regulatory liabilities
121

 
149

Other current liabilities
522

 
491

Total current liabilities
2,285

 
2,687

Long-term Debt, Net
8,651

 
7,859

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes and investment tax credits, net
2,902

 
2,666

Regulatory liabilities
4,845

 
4,637

Asset retirement obligations
671

 
627

Pension and other postretirement benefits
522

 
558

Other deferred credits and liabilities
466

 
408

Total deferred credits and other liabilities
9,406

 
8,896

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,673

 
5,627

Retained earnings
2,408

 
2,024

Accumulated other comprehensive loss
(21
)
 
(22
)
Total Ameren Corporation shareholders’ equity
8,062

 
7,631

Noncontrolling Interests
142

 
142

Total equity
8,204

 
7,773

TOTAL LIABILITIES AND EQUITY
$
28,546

 
$
27,215






AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Nine Months Ended September 30,
 
2019
 
2018
Cash Flows From Operating Activities:
 
 
 
Net income
$
739

 
$
752

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
745

 
699

Amortization of nuclear fuel
56

 
71

Amortization of debt issuance costs and premium/discounts
14

 
16

Deferred income taxes and investment tax credits, net
144

 
212

Allowance for equity funds used during construction
(20
)
 
(25
)
Stock-based compensation costs
15

 
15

Other
(11
)
 
21

Changes in assets and liabilities
(14
)
 
(75
)
Net cash provided by operating activities
1,668

 
1,686

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,761
)
 
(1,689
)
Nuclear fuel expenditures
(26
)
 
(30
)
Purchases of securities – nuclear decommissioning trust fund
(192
)
 
(172
)
Sales and maturities of securities – nuclear decommissioning trust fund
184

 
159

Purchase of bonds
(207
)
 

Proceeds from sale of remarketed bonds
207

 

Other
(3
)
 
13

Net cash used in investing activities
(1,798
)
 
(1,719
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(350
)
 
(334
)
Dividends paid to noncontrolling interest holders
(5
)
 
(5
)
Short-term debt, net
(53
)
 
36

Maturities of long-term debt
(329
)
 
(522
)
Issuances of long-term debt
900

 
853

Issuances of common stock
54

 
56

Employee payroll taxes related to stock-based compensation
(29
)
 
(19
)
Debt issuance costs
(10
)
 
(9
)
Other

 
1

Net cash provided by financing activities
178

 
57

Net change in cash, cash equivalents, and restricted cash
48

 
24

Cash, cash equivalents, and restricted cash at beginning of year
107

 
68

Cash, cash equivalents, and restricted cash at end of period
$
155

 
$
92