EX-99.2 3 q32023ex992earningsrelease.htm EX-99.2 Document

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,
 2023202220232022
Operating Revenues:
Electric$1,921 $2,140 $5,096 $4,971 
Natural gas139 166 786 940 
Total operating revenues2,060 2,306 5,882 5,911 
Operating Expenses:
Fuel158 117 423 376 
Purchased power272 563 1,095 1,058 
Natural gas purchased for resale30 58 280 431 
Other operations and maintenance470 475 1,368 1,427 
Depreciation and amortization369 350 1,024 965 
Taxes other than income taxes147 144 398 415 
Total operating expenses1,446 1,707 4,588 4,672 
Operating Income614 599 1,294 1,239 
Other Income, Net101 58 261 180 
Interest Charges152 126 413 356 
Income Before Income Taxes563 531 1,142 1,063 
Income Taxes69 78 144 148 
Net Income494 453 998 915 
Less: Net Income Attributable to Noncontrolling Interests 1 4 
Net Income Attributable to Ameren Common Shareholders$493 $452 $994 $911 
Earnings per Common Share – Basic$1.88 $1.75 $3.79 $3.53 
Earnings per Common Share – Diluted$1.87 $1.74 $3.78 $3.51 
Weighted-average Common Shares Outstanding – Basic262.8 258.4 262.5 258.2 
Weighted-average Common Shares Outstanding – Diluted263.4 259.5 263.2 259.3 



AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
September 30,
2023
December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents$8 $10 
Accounts receivable - trade (less allowance for doubtful accounts)597 600 
Unbilled revenue360 446 
Miscellaneous accounts receivable65 54 
Inventories760 667 
Current regulatory assets157 354 
Investment in industrial development revenue bonds 240 
Current collateral assets13 142 
Other current assets124 155 
Total current assets2,084 2,668 
Property, Plant, and Equipment, Net32,938 31,262 
Investments and Other Assets:
Nuclear decommissioning trust fund1,042 958 
Goodwill411 411 
Regulatory assets1,772 1,426 
Pension and other postretirement benefits470 411 
Other assets882 768 
Total investments and other assets4,577 3,974 
TOTAL ASSETS$39,599 $37,904 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$849 $340 
Short-term debt1,340 1,070 
Accounts and wages payable955 1,159 
Taxes accrued209 59 
Other current liabilities664 738 
Total current liabilities4,017 3,366 
Long-term Debt, Net13,829 13,685 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net4,068 3,804 
Regulatory liabilities5,336 5,309 
Asset retirement obligations761 763 
Other deferred credits and liabilities416 340 
Total deferred credits and other liabilities10,581 10,216 
Shareholders’ Equity:
Common stock3 
Other paid-in capital, principally premium on common stock6,900 6,860 
Retained earnings4,144 3,646 
Accumulated other comprehensive loss(4)(1)
Total shareholders’ equity11,043 10,508 
Noncontrolling Interests129 129 
Total equity11,172 10,637 
TOTAL LIABILITIES AND EQUITY$39,599 $37,904 



AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Nine Months Ended September 30,
 20232022
Cash Flows From Operating Activities:
Net income $998 $915 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,063 1,016 
Amortization of nuclear fuel56 46 
Amortization of debt issuance costs and premium/discounts12 17 
Deferred income taxes and investment tax credits, net128 137 
Allowance for equity funds used during construction(39)(31)
Stock-based compensation costs21 18 
Other12 63 
Changes in assets and liabilities(220)(582)
Net cash provided by operating activities2,031 1,599 
Cash Flows From Investing Activities:
Capital expenditures(2,571)(2,437)
Nuclear fuel expenditures(63)(22)
Purchases of securities – nuclear decommissioning trust fund(156)(176)
Sales and maturities of securities – nuclear decommissioning trust fund136 163 
Other(2)14 
Net cash used in investing activities(2,656)(2,458)
Cash Flows From Financing Activities:
Dividends on common stock(496)(457)
Dividends paid to noncontrolling interest holders(4)(4)
Short-term debt, net272 675 
Maturities of long-term debt(100)(450)
Issuances of long-term debt997 1,118 
Issuances of common stock28 29 
Employee payroll taxes related to stock-based compensation(20)(16)
Debt issuance costs(12)(11)
Other(10)— 
Net cash provided by financing activities655 884 
Net change in cash, cash equivalents, and restricted cash30 25 
Cash, cash equivalents, and restricted cash at beginning of year216 155 
Cash, cash equivalents, and restricted cash at end of period$246 $180