EX-99.2 3 q42023ex992earningsrelease.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 December 31,Year Ended December 31,
 2023202220232022
Operating Revenues:
Electric$1,343 $1,610 $6,439 $6,581 
Natural gas275 436 1,061 1,376 
Total operating revenues1,618 2,046 7,500 7,957 
Operating Expenses:
Fuel91 97 514 473 
Purchased power203 489 1,298 1,547 
Natural gas purchased for resale75 226 355 657 
Other operations and maintenance498 510 1,866 1,937 
Depreciation and amortization363 324 1,387 1,289 
Taxes other than income taxes124 124 522 539 
Total operating expenses1,354 1,770 5,942 6,442 
Operating Income264 276 1,558 1,515 
Other Income, Net87 46 348 226 
Interest Charges153 130 566 486 
Income Before Income Taxes198 192 1,340 1,255 
Income Taxes39 28 183 176 
Net Income159 164 1,157 1,079 
Less: Net Income Attributable to Noncontrolling Interests 1 5 
Net Income Attributable to Ameren Common Shareholders$158 $163 $1,152 $1,074 
Earnings per Common Share – Basic$0.60 $0.63 $4.39 $4.16 
Earnings per Common Share – Diluted$0.60 $0.63 $4.38 $4.14 
Weighted-average Common Shares Outstanding – Basic263.5 259.1 262.8 258.4 
Weighted-average Common Shares Outstanding – Diluted264.0 260.2 263.4 259.5 


                                                
AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
December 31, 2023December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents$25 $10 
Accounts receivable - trade (less allowance for doubtful accounts)494 600 
Unbilled revenue319 446 
Miscellaneous accounts receivable106 54 
Inventories733 667 
Current regulatory assets365 354 
Investments in industrial development revenue bonds 240 
Current collateral assets14 142 
Other current assets125 155 
Total current assets2,181 2,668 
Property, Plant, and Equipment, Net33,776 31,262 
Investments and Other Assets:
Nuclear decommissioning trust fund1,150 958 
Goodwill411 411 
Regulatory assets1,810 1,426 
Pension and other postretirement benefits581 411 
Other assets921 768 
Total investments and other assets4,873 3,974 
TOTAL ASSETS$40,830 $37,904 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$849 $340 
Short-term debt536 1,070 
Accounts and wages payable1,136 1,159 
Customer deposits176 115 
Other current liabilities648 682 
Total current liabilities3,345 3,366 
Long-term Debt, Net15,121 13,685 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net4,176 3,804 
Regulatory liabilities5,512 5,309 
Asset retirement obligations772 763 
Other deferred credits and liabilities426 340 
Total deferred credits and other liabilities10,886 10,216 
Shareholders’ Equity:
Common stock3 
Other paid-in capital, principally premium on common stock7,216 6,860 
Retained earnings4,136 3,646 
Accumulated other comprehensive loss(6)(1)
Total shareholders’ equity11,349 10,508 
Noncontrolling Interests129 129 
Total equity11,478 10,637 
TOTAL LIABILITIES AND EQUITY$40,830 $37,904 


                                                
AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Year Ended December 31,
 20232022
Cash Flows From Operating Activities:
Net income $1,157 $1,079 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,432 1,373 
Amortization of nuclear fuel68 65 
Amortization of debt issuance costs and premium/discounts16 21 
Deferred income taxes and investment tax credits, net229 170 
Allowance for equity funds used during construction(54)(43)
Stock-based compensation costs26 24 
Other16 68 
Changes in assets and liabilities(326)(494)
Net cash provided by operating activities2,564 2,263 
Cash Flows From Investing Activities:
Capital expenditures(3,597)(3,351)
Nuclear fuel expenditures(174)(29)
Purchases of securities – nuclear decommissioning trust fund(266)(229)
Sales and maturities of securities – nuclear decommissioning trust fund240 216 
Other(1)23 
Net cash used in investing activities(3,798)(3,370)
Cash Flows From Financing Activities:
Dividends on common stock(662)(610)
Dividends paid to noncontrolling interest holders(5)(5)
Short-term debt, net(533)522 
Maturities of long-term debt(100)(505)
Issuances of long-term debt2,295 1,467 
Issuances of common stock346 333 
Employee payroll taxes related to stock-based compensation(20)(16)
Debt issuance costs(21)(18)
Other(10)— 
Net cash provided by financing activities1,290 1,168 
Net change in cash, cash equivalents, and restricted cash56 61 
Cash, cash equivalents, and restricted cash at beginning of year216 155 
Cash, cash equivalents, and restricted cash at end of year$272 $216