EX-99.2 3 q32024ex992earningsrelease.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,
 2024202320242023
Operating Revenues:
Electric$2,035 $1,921 $4,920 $5,096 
Natural gas138 139 762 786 
Total operating revenues2,173 2,060 5,682 5,882 
Operating Expenses:
Fuel and purchased power499 430 1,154 1,518 
Natural gas purchased for resale30 30 214 280 
Other operations and maintenance520 470 1,455 1,368 
Depreciation and amortization388 369 1,125 1,024 
Taxes other than income taxes150 147 416 398 
Total operating expenses1,587 1,446 4,364 4,588 
Operating Income586 614 1,318 1,294 
Other Income, Net101 101 293 261 
Interest Charges173 152 492 413 
Income Before Income Taxes514 563 1,119 1,142 
Income Taxes57 69 140 144 
Net Income457 494 979 998 
Less: Net Income Attributable to Noncontrolling Interests 1 1 4 4 
Net Income Attributable to Ameren Common Shareholders$456 $493 $975 $994 
Earnings per Common Share – Basic$1.71 $1.88 $3.66 $3.79 
Earnings per Common Share – Diluted$1.70 $1.87 $3.65 $3.78 
Weighted-average Common Shares Outstanding – Basic266.8 262.8 266.6 262.5 
Weighted-average Common Shares Outstanding – Diluted267.3 263.4 266.9 263.2 


AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
September 30,
2024		December 31, 2023
ASSETS
Current Assets:
Cash and cash equivalents$17 $25 
Accounts receivable - trade (less allowance for doubtful accounts)651 494 
Unbilled revenue348 319 
Miscellaneous accounts receivable70 106 
Inventories792 733 
Current regulatory assets226 365 
Other current assets153 139 
Total current assets2,257 2,181 
Property, Plant, and Equipment, Net35,720 33,776 
Investments and Other Assets:
Nuclear decommissioning trust fund1,333 1,150 
Goodwill411 411 
Regulatory assets1,915 1,810 
Pension and other postretirement benefits581 581 
Other assets1,081 921 
Total investments and other assets5,321 4,873 
TOTAL ASSETS$43,298 $40,830 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$300 $849 
Short-term debt1,539 536 
Accounts and wages payable717 1,136 
Taxes accrued206 54 
Customer deposits205 176 
Other current liabilities600 594 
Total current liabilities3,567 3,345 
Long-term Debt, Net16,422 15,121 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net4,477 4,176 
Regulatory liabilities5,562 5,512 
Asset retirement obligations798 772 
Other deferred credits and liabilities510 426 
Total deferred credits and other liabilities11,347 10,886 
Shareholders’ Equity:
Common stock3 3 
Other paid-in capital, principally premium on common stock7,264 7,216 
Retained earnings4,576 4,136 
Accumulated other comprehensive loss(10)(6)
Total shareholders’ equity11,833 11,349 
Noncontrolling Interests129 129 
Total equity11,962 11,478 
TOTAL LIABILITIES AND EQUITY$43,298 $40,830 


AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Nine Months Ended September 30,
 20242023
Cash Flows From Operating Activities:
Net income $979 $998 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,142 1,063 
Amortization of nuclear fuel59 56 
Amortization of debt issuance costs and premium/discounts14 12 
Deferred income taxes and investment tax credits, net145 128 
Allowance for equity funds used during construction(48)(39)
Stock-based compensation costs22 21 
Other84 12 
Changes in assets and liabilities(451)(220)
Net cash provided by operating activities1,946 2,031 
Cash Flows From Investing Activities:
Capital expenditures(3,029)(2,571)
Nuclear fuel expenditures(57)(63)
Purchases of securities – nuclear decommissioning trust fund(499)(156)
Sales and maturities of securities – nuclear decommissioning trust fund480 136 
Other(1)(2)
Net cash used in investing activities(3,106)(2,656)
Cash Flows From Financing Activities:
Dividends on common stock(535)(496)
Dividends paid to noncontrolling interest holders(4)(4)
Short-term debt, net1,002 272 
Maturities of long-term debt(849)(100)
Issuances of long-term debt1,610 997 
Issuances of common stock30 28 
Employee payroll taxes related to stock-based compensation(8)(20)
Debt issuance costs(19)(12)
Other(15)(10)
Net cash provided by financing activities1,212 655 
Net change in cash, cash equivalents, and restricted cash52 30 
Cash, cash equivalents, and restricted cash at beginning of year(a)
272 216 
Cash, cash equivalents, and restricted cash at end of period(b)
$324 $246 
(a)Includes $25 million of cash and cash equivalents and $247 million of restricted cash as of December 31, 2023.
(a)Includes $17 million of cash and cash equivalents and $307 million of restricted cash as of September 30, 2024.