EX-99.1 2 d681536dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

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Contacts

 

Media                                  Analysts    Investors

Joe Muehlenkamp

314.554.4135

jmuehlenkamp@ameren.com

  

Doug Fischer

314.554.4859

dfischer@ameren.com

  

Matt Thayer

314.554.3151

mthayer@ameren.com

  

Investor Services

800.255.2237

invest@ameren.com

For Immediate Release

Ameren Announces 2013 Results

And Issues Earnings Guidance

 

   

2013 Diluted EPS from Continuing Operations Were $2.10

 

   

2014 EPS from Continuing Operations Guidance Established at $2.25 to $2.45

 

   

EPS from Continuing Operations Expected to Grow at a 7% to 10% Compound Annual Rate from 2013 through 2018

ST. LOUIS (Feb. 21, 2014) — Ameren Corporation (NYSE: AEE) today announced 2013 net income from continuing operations of $512 million, or $2.10 per diluted share, compared to 2012 net income from continuing operations of $516 million, or $2.13 per diluted share. As a result of Ameren’s divestiture of its merchant generation business, the results of this business are classified as discontinued operations in the financial statements.

The decrease in 2013 earnings from continuing operations, compared to 2012, reflected 2013 nuclear refueling outage expenses, versus the prior year when there was no refueling outage, and milder summer weather. The earnings comparison was positively affected by increased rates for Missouri electric and Illinois transmission service and increased Illinois electric delivery earnings under formula ratemaking. Additional factors negatively affecting the earnings comparison included charges in 2013 related to Missouri and Illinois regulatory decisions and the absence in 2013 of a benefit related to a 2012 Federal Energy Regulatory Commission (FERC) decision.

“With the divestiture of our merchant generation business now complete, we are solely focused on our rate-regulated utilities. In 2013, these continuing operations delivered improved earnings on a weather-normalized basis despite a Callaway refueling outage and two regulatory charges,” said Thomas R. Voss, chairman and CEO of Ameren Corporation. “Looking ahead, our FERC-regulated transmission and Illinois energy delivery businesses are making significant new investments to improve reliability and customers’

 

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NEWS RELEASE

 

ability to manage their energy usage. Our capability to make such investments is supported by modern, constructive regulatory frameworks in these jurisdictions, and we expect these investments to lead to solid earnings growth. In addition, we continue our work to enhance the Missouri regulatory framework to better support investment in that state’s aging energy infrastructure for the benefit of customers while managing the business in a disciplined fashion, including aligning spending with the existing regulatory framework.”

Ameren recorded earnings from continuing operations of $48 million, or 19 cents per share, for the fourth quarter of 2013, compared to $12 million, or 5 cents per share, for the fourth quarter of 2012. The improvement in earnings reflected increased rates for Missouri electric and Illinois transmission service; greater electric and gas sales volumes primarily resulting from colder winter temperatures; and increased Illinois electric delivery earnings under formula ratemaking. These positive factors were partially offset by a fourth quarter 2013 charge related to the Illinois Commerce Commission’s (ICC) disallowance of certain debt redemption costs.

Earnings from Continuing Operations Guidance

Ameren expects 2014 earnings to be in a range of $2.25 to $2.45 per share. Further, it expects earnings per share to grow at a 7% to 10% compound annual rate through 2018 using 2013 results from continuing operations as the base. This growth is expected to be driven primarily by infrastructure investments in FERC-regulated transmission and Illinois energy delivery services.

Ameren’s earnings guidance assumes normal temperatures and is subject to the effects of, among other things, changes in 30-year U.S. Treasury bond yields; regulatory decisions and legislative actions; energy center operations; energy, economic, capital and credit market conditions; severe storms; unusual or otherwise unexpected gains or losses; and other risks and uncertainties outlined, or referred to, in the Forward-looking Statements section of this press release.

Ameren Missouri Segment Results

Ameren Missouri segment 2013 earnings were $395 million, compared to 2012 earnings of $416 million. The decrease in earnings reflected 2013 Callaway refueling outage expenses, compared to 2012 when there was no refueling outage, and milder summer weather. The earnings comparison was positively affected by an increase in rates for electric service, effective in January 2013, and disciplined cost management. Additional factors negatively affecting the earnings comparison included a 2013 charge resulting from a Missouri Public Service Commission decision related to the fuel adjustment clause and the absence in 2013 of a benefit related to a 2012 FERC decision.

 

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Ameren Illinois Segment Results

Ameren Illinois segment 2013 earnings were $160 million, compared to 2012 earnings of $141 million. The increase in earnings reflected higher electric delivery earnings recognized under formula ratemaking resulting from increased infrastructure investment; a higher allowed return on equity due to higher 30-year Treasury bond yields; and the absence in 2013 of a 2012 contribution required to implement formula ratemaking. The earnings comparison also benefited from increased rates for transmission service, effective in January 2013. These positive factors were partially offset by a fourth quarter 2013 charge for the ICC’s disallowance of certain debt redemption costs.

Parent Company and Other

The parent company and other loss from continuing operations was $43 million for 2013, compared to $41 million for 2012. Parent company and other results include interest expense and certain other costs which were previously allocated to the merchant generation business, as well as costs historically not allocated to Ameren’s business segments.

Analyst Conference Call

Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Friday, Feb. 21, to discuss 2013 earnings, earnings guidance and other matters. Investors, the news media and the public may listen to a live Internet broadcast of the call at Ameren.com by clicking on “Q4 2013 Ameren Corporation Earnings Conference Call,” followed by the appropriate audio link. An accompanying slide presentation will be available on Ameren’s website. This presentation will be posted in the “Investors” section of the website under “Webcasts & Presentations.” The analyst call will be available for replay on the Internet for one year. In addition, a telephone playback of the conference call will be available beginning at approximately noon Central Time from Feb. 21 through
Feb. 28 by dialing U.S. 877.660.6853 or international 201.612.7415, and entering ID number 13575772.

 

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About Ameren

St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric and natural gas delivery service while Ameren Missouri provides vertically integrated electric service, with generating capacity of 10,300 megawatts, and natural gas delivery service. Ameren Transmission of Illinois develops regional electric transmission projects. Follow us on Twitter @AmerenCorp. For more information, visit Ameren.com.

Forward-looking Statements

Statements in this release not based on historical facts are considered “forward-looking” and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in Ameren’s Form 10-K for the year ended December 31, 2012 and Ameren’s Form 10-Q for the quarter ended March 31, 2013, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:

 

 

regulatory, judicial, or legislative actions, including changes in regulatory policies and ratemaking determinations, such as complaint cases filed by Noranda Aluminum, Inc. with the Missouri Public Service Commission in February 2014 requesting a reduction in Ameren Missouri’s electric rates, including a reduction in its allowed return on equity, and certain rate design changes; the outcome of Ameren Illinois’ appeal of the ICC’s electric and natural gas rate orders issued in December 2013; Ameren Illinois’ request for rehearing of a July 2012 FERC order regarding the inclusion of acquisition premiums in its transmission rates; and future regulatory, judicial, or legislative actions that seek to change regulatory recovery mechanisms;

 

 

the effect of Ameren Illinois participating in a performance-based formula ratemaking process under the Illinois Energy Infrastructure Modernization Act (IEIMA), including the direct relationship between Ameren Illinois’ return on common equity and the 30-year United States Treasury bond yields, the related financial commitments required by the IEIMA, and the resulting uncertain impact on the financial condition, results of operations and liquidity of Ameren Illinois;

 

 

the effects of Ameren Illinois’ expected participation, beginning in 2015, in the regulatory framework provided by the state of Illinois’ Natural Gas Consumer, Safety and Reliability Act, which allows for the use of a rider to recover costs of certain natural gas infrastructure investments made between rate cases;

 

 

the effects of, or changes to, the Illinois power procurement process;

 

 

the effects of increased competition in the future due to, among other things, deregulation of certain aspects of our business at either the state or federal levels, and the implementation of deregulation;

 

 

changes in laws and other governmental actions, including monetary, fiscal, and tax policies;

 

 

the effects on demand for our services resulting from technological advances, including advances in energy efficiency and distributed generation sources, which generate electricity at the site of consumption;

 

 

increasing capital expenditure and operating expense requirements and our ability to timely recover these costs;

 

 

our ability to reduce costs that are not recoverable from customers;

 

 

the cost and availability of fuel such as coal, natural gas, and enriched uranium used to produce electricity; the cost and availability of purchased power and natural gas for distribution; and the level and volatility of future market prices for such commodities, including our ability to recover the costs for such commodities;

 

 

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NEWS RELEASE

 

 

 

the effectiveness of our risk management strategies and the use of financial and derivative instruments;

 

 

business and economic conditions, including their impact on interest rates, bad debt expense, and demand for our products;

 

 

disruptions of the capital markets, deterioration in our credit metrics, or other events that may make our access to necessary capital, including short-term credit and liquidity, impossible, more difficult, or more costly;

 

 

our assessment of our liquidity;

 

 

the impact of the adoption of new accounting guidance and the application of appropriate technical accounting rules and guidance;

 

 

actions of credit rating agencies and the effects of such actions;

 

 

the impact of weather conditions and other natural phenomena on us and our customers, including the impact of system outages;

 

 

generation, transmission, and distribution asset construction, installation, performance, and cost recovery;

 

 

the effects of our increasing investment in electric transmission projects and uncertainty as to whether we will achieve our expected returns in a timely fashion, if at all;

 

 

the extent to which Ameren Missouri prevails in its claims against insurers in connection with its Taum Sauk pumped-storage hydroelectric energy center incident;

 

 

the extent to which Ameren Missouri is permitted by its regulators to recover in rates the investments it made in connection with additional nuclear generation at its Callaway Energy Center;

 

 

operation of Ameren Missouri’s Callaway Energy Center, including planned and unplanned outages, and future decommissioning costs;

 

 

the effects of strategic initiatives, including mergers, acquisitions and divestitures, and any related tax implications;

 

 

the impact of current environmental regulations on utilities and power generating companies and new, more stringent or changing requirements, including those related to greenhouse gases, other emissions and discharges, cooling water intake structures, coal combustion residuals, and energy efficiency, that are enacted over time and that could limit or terminate the operation of certain of our energy centers, increase our costs, result in an impairment of our assets, result in sales of our assets, reduce our customers’ demand for electricity or natural gas, or otherwise have a negative financial effect;

 

 

the impact of complying with renewable energy portfolio requirements in Missouri;

 

 

labor disputes, workforce reductions, future wage and employee benefits costs, including changes in discount rates and returns on benefit plan assets;

 

 

the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments;

 

 

the cost and availability of transmission capacity for the energy generated by Ameren’s and Ameren Missouri’s energy centers or required to satisfy energy sales made by Ameren or Ameren Missouri;

 

 

the inability of Dynegy Inc. and Illinois Power Holdings, LLC (IPH) to satisfy their indemnities and other obligations to Ameren in connection with the divestiture of New Ameren Energy Resources Generating Company, LLC to IPH;

 

 

legal and administrative proceedings; and

 

 

acts of sabotage, war, terrorism, cybersecurity attacks or intentionally disruptive acts.

Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.

# # #

 

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AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

 

     Three Months Ended
December 31,
     Year Ended
      December 31,      
 
     2013      2012      2013      2012  

 

 

Operating Revenues:

           

Electric

   $ 1,009        $ 959        $   4,832        $ 4,857    

Gas

     313          299          1,006          924    
  

 

 

    

 

 

    

 

 

    

 

 

 

Total operating revenues

     1,322          1,258          5,838          5,781    
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating Expenses:

           

Fuel

     197          164          845          714    

Purchased power

     102          150          502          780    

Gas purchased for resale

     182          168          526          472    

Other operations and maintenance

     388          387          1,617          1,511    

Depreciation and amortization

     178          171          706          673    

Taxes other than income taxes

     104          106          458          443    
  

 

 

    

 

 

    

 

 

    

 

 

 

Total operating expenses

     1,151          1,146          4,654          4,593    
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating Income

     171          112          1,184          1,188    

Other Income and Expenses:

           

Miscellaneous income

     18          17          69          70    

Miscellaneous expense

                     26          37    
  

 

 

    

 

 

    

 

 

    

 

 

 

Total other income

     10                  43          33    

Interest Charges

     109          97          398          392    
  

 

 

    

 

 

    

 

 

    

 

 

 

Income Before Income Taxes

     72          23          829          829    

Income Taxes

     23          10          311          307    
  

 

 

    

 

 

    

 

 

    

 

 

 

Income from Continuing Operations

     49          13          518          522    

Loss from Discontinued Operations, Net of Taxes

     (11)         (1,168)         (223)         (1,496)   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net Income (Loss)

     38          (1,155)         295          (974)   

Less: Net Income (Loss) Attributable to Noncontrolling Interests:

           

Continuing Operations

                               

Discontinued Operations

                             (6)   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net Income (Loss) Attributable to Ameren Corporation:

           

Continuing Operations

     48          12          512          516    

Discontinued Operations

     (11)         (1,168)         (223)         (1,490)   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net Income (Loss) Attributable to Ameren Corporation

   $ 37        $ (1,156)       $ 289        $ (974)   

 

 

Earnings (Loss) per Common Share – Basic:

           

Continuing Operations

   $ 0.19        $ 0.05        $ 2.11        $ 2.13    

Discontinued Operations

     (0.04)         (4.81)         (0.92)         (6.14)   
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings (Loss) per Common Share – Basic

   $ 0.15        $ (4.76)       $ 1.19        $ (4.01)   

Earnings (Loss) per Common Share – Diluted:

           

Continuing Operations

   $ 0.19        $ 0.05        $ 2.10        $ 2.13    

Discontinued Operations

     (0.04)         (4.81)         (0.92)         (6.14)   
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings (Loss) per Common Share – Diluted

   $ 0.15        $ (4.76)       $ 1.18        $ (4.01)   

Average Common Shares Outstanding – Basic

     242.6          242.6          242.6          242.6    

Average Common Shares Outstanding – Diluted

     245.1          243.0          244.5          243.0    

 

 


AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

 

     December 31,
2013
     December 31,
2012
 

 

 
ASSETS      

Current Assets:

     

Cash and cash equivalents

   $ 30       $ 184    

Accounts receivable - trade (less allowance for doubtful accounts)

     404         354    

Unbilled revenue

     304         291    

Miscellaneous accounts and notes receivable

     196         71    

Materials and supplies

     526         570    

Current regulatory assets

     156         247    

Current accumulated deferred income taxes, net

     106         170    

Other current assets

     85         98    

Assets of discontinued operations

     165         1,611    
  

 

 

    

 

 

 

Total current assets

     1,972         3,596    
  

 

 

    

 

 

 

Property and Plant, Net

     16,205         15,348    

Investments and Other Assets:

     

Nuclear decommissioning trust fund

     494         408    

Goodwill

     411         411    

Intangible assets

     22         14    

Regulatory assets

     1,240         1,786    

Other assets

     698         667    
  

 

 

    

 

 

 

Total investments and other assets

     2,865         3,286    

 

 

TOTAL ASSETS

   $ 21,042       $ 22,230    

 

 
LIABILITIES AND EQUITY      

Current Liabilities:

     

Current maturities of long-term debt

   $ 534       $ 355    

Short-term debt

     368           

Accounts and wages payable

     806         533    

Taxes accrued

     55         49    

Interest accrued

     86         89    

Customer deposits

     105         107    

Mark-to-market derivative liabilities

     52         92    

Current regulatory liabilities

     216         100    

Other current liabilities

     194         168    

Liabilities of discontinued operations

     45         1,193    
  

 

 

    

 

 

 

Total current liabilities

     2,461         2,686    
  

 

 

    

 

 

 

Long-term Debt, Net

     5,504         5,802    

Deferred Credits and Other Liabilities:

     

Accumulated deferred income taxes, net

     3,166         3,186    

Accumulated deferred investment tax credits

     63         70    

Regulatory liabilities

     1,705         1,589    

Asset retirement obligations

     369         349    

Pension and other postretirement benefits

     466         1,138    

Other deferred credits and liabilities

     622         643    
  

 

 

    

 

 

 

Total deferred credits and other liabilities

     6,391         6,975    
  

 

 

    

 

 

 

Ameren Corporation Stockholders’ Equity:

     

Common stock

     2           

Other paid-in capital, principally premium on common stock

     5,632         5,616    

Retained earnings

     907         1,006    

Accumulated other comprehensive income (loss)

     3         (8)   
  

 

 

    

 

 

 

Total Ameren Corporation stockholders’ equity

     6,544         6,616    

Noncontrolling Interests

     142         151    
  

 

 

    

 

 

 

Total equity

     6,686         6,767    

 

 

TOTAL LIABILITIES AND EQUITY

   $ 21,042       $ 22,230    

 

 


AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

 

     Year Ended
December 31,
 
     2013      2012  

 

 

Cash Flows From Operating Activities:

     

Net income (loss)

   $ 295        $ (974)   

Loss from discontinued operations, net of taxes

     223          1,496    

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

     

Depreciation and amortization

     666          633    

Amortization of nuclear fuel

     71          83    

Amortization of debt issuance costs and premium/discounts

     24          20    

Deferred income taxes and investment tax credits, net

     410          257    

Allowance for equity funds used during construction

     (37)         (36)   

Stock-based compensation costs

     27          29    

Other

     23          (7)   

Changes in assets and liabilities

     (66)         (97)   
  

 

 

    

 

 

 

Net cash provided by operating activities - continuing operations

     1,636          1,404    

Net cash provided by operating activities - discontinued operations

     57          286    
  

 

 

    

 

 

 

Net cash provided by operating activities

     1,693          1,690    

 

 

Cash Flows From Investing Activities:

     

Capital expenditures

     (1,379)         (1,063)   

Nuclear fuel expenditures

     (45)         (91)   

Purchases of securities - nuclear decommissioning trust fund

     (214)         (403)   

Sales and maturities of securities - nuclear decommissioning trust fund

     196          384    

Tax grants received related to renewable energy properties

             18    

Other

               
  

 

 

    

 

 

 

Net cash used in investing activities - continuing operations

     (1,440)         (1,153)   

Net cash used in investing activities - discontinued operations

     (283)         (157)   
  

 

 

    

 

 

 

Net cash used in investing activities

     (1,723)         (1,310)   

 

 

Cash Flows From Financing Activities:

     

Dividends on common stock

     (388)         (382)   

Dividends paid to noncontrolling interest holders

     (6)         (6)   

Short-term debt, net

     368          (148)   

Redemptions, repurchases, and maturities of long-term debt

     (399)         (760)   

Issuances of long-term debt

     278          882    

Capital issuance costs

     (2)         (16)   

Other

               
  

 

 

    

 

 

 

Net cash used in financing activities - continuing operations

     (149)         (426)   

Net cash provided by financing activities - discontinued operations

               
  

 

 

    

 

 

 

Net cash used in financing activities

     (149)         (426)   

 

 

Net change in cash and cash equivalents

     (179)         (46)   

Cash and cash equivalents at beginning of year

     209          255    
  

 

 

    

 

 

 

Cash and cash equivalents at end of year

     30          209    

Less: cash and cash equivalents at end of year - discontinued operations

             25    

 

 

Cash and cash equivalents at end of year - continuing operations

   $ 30        $ 184    

 

 

Noncash financing activity - dividends on common stock

   $       $ (7)   

 


AMEREN CORPORATION (AEE)

OPERATING STATISTICS FROM CONTINUING OPERATIONS

 

     Three Months Ended
December 31,
    Twelve Months Ended
December 31,
 
     2013     2012     2013     2012  

 

 

Electric Sales - kilowatthours (in millions):

        

Ameren Missouri

        

Residential

     3,318        3,033        13,562        13,385   

Commercial

     3,511        3,380        14,634        14,575   

Industrial

     2,170        2,127        8,709        8,660   

Other

     36        37        125        126   
  

 

 

   

 

 

   

 

 

   

 

 

 

Native load subtotal

     9,035        8,577        37,030        36,746   

Off-system and wholesale

     1,475        1,810        6,128        7,293   
  

 

 

   

 

 

   

 

 

   

 

 

 

Subtotal

     10,510        10,387        43,158        44,039   
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Illinois

        

Power supply and delivery service

     1,099        1,772        5,474        9,507   

Delivery service only

     1,829        822        6,310        2,103   

Commercial

        

Power supply and delivery service

     650        589        2,606        2,985   

Delivery service only

     2,420        2,236        9,541        9,175   

Industrial

        

Power supply and delivery service

     394        428        1,667        1,595   

Delivery service only

     2,728        2,799        10,861        11,753   

Other

     127        123        522        523   
  

 

 

   

 

 

   

 

 

   

 

 

 

Native load subtotal

     9,247        8,769        36,981        37,641   

Eliminate affiliate sales

     (41     -        (82 )       -   
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Total from Continuing Operations

     19,716        19,156        80,057        81,680   

 

 

Electric Revenues (in millions):

        

Ameren Missouri

        

Residential

   $ 298      $ 242      $ 1,428      $ 1,297   

Commercial

     246        214        1,216        1,088   

Industrial

     104        92        491        435   

Other

     22        32        61        104   
  

 

 

   

 

 

   

 

 

   

 

 

 

Native load subtotal

     670        580        3,196        2,924   

Off-system and wholesale

     42        48        183        208   
  

 

 

   

 

 

   

 

 

   

 

 

 

Subtotal

   $ 712      $ 628      $ 3,379      $ 3,132   
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Illinois

        

Residential

        

Power supply and delivery service

   $ 88      $ 146      $ 501      $ 953   

Delivery service only

     71        35        282        98   

Commercial

        

Power supply and delivery service

     48        39        215        253   

Delivery service only

     40        39        184        178   

Industrial

        

Power supply and delivery service

     17        14        70        53   

Delivery service only

     10        13        44        50   

Other

     27        49        165        154   
  

 

 

   

 

 

   

 

 

   

 

 

 

Native load subtotal

     301        335        1,461        1,739   

Eliminate affiliate revenues and other

     (4     (4     (8     (14
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Total from Continuing Operations

   $ 1,009      $ 959      $ 4,832      $ 4,857   

 

 

Electric Generation - megawatthours (in millions):

        

Ameren Missouri

     10.6        10.5        43.2        44.7   

 

 

Fuel Cost per kilowatthour (cents):

        

Ameren Missouri

     1.814        1.745        1.846        1.718   

 

 

Gas Sales - decatherms (in thousands):

        

Ameren Missouri

     6,052        4,856        19,420        15,858   

Ameren Illinois

     56,350        48,479        175,846        156,789   
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Total

     62,402        53,335        195,266        172,647   

 

 

Net Income (Loss) by Segment (in millions):

        

Ameren Missouri

   $ 33      $ 16      $ 395      $ 416   

Ameren Illinois

     21        11        160        141   

Other

     (6     (15     (43     (41
  

 

 

   

 

 

   

 

 

   

 

 

 

Ameren Total

   $ 48      $ 12      $ 512      $ 516   

 

 

 

     December 31,
2013
    December 31,
2012
 

Common Stock:

    

Shares outstanding (in millions)

     242.6        242.6   

Book value per share

   $ 26.97      $ 27.27   

Capitalization Ratios:

    

Common equity

     50.1     52.0

Preferred stock

     1.1     1.1

Debt, net of cash(a)

     48.8     46.9

(a) For December 31, 2012, excludes cash and debt of discontinued operations.