EX-99.2 3 d722294dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME (LOSS)

(Unaudited, in millions, except per share amounts)

 

     Three Months Ended
March  31,
 
     2014     2013  

 

 

Operating Revenues:

    

Electric

   $ 1,106      $ 1,088   

Gas

     488        387   
  

 

 

   

 

 

 

Total operating revenues

     1,594        1,475   
  

 

 

   

 

 

 

Operating Expenses:

    

Fuel

     204        213   

Purchased power

     112        151   

Gas purchased for resale

     304        230   

Other operations and maintenance

     420        399   

Depreciation and amortization

     181        175   

Taxes other than income taxes

     127        122   
  

 

 

   

 

 

 

Total operating expenses

     1,348        1,290   
  

 

 

   

 

 

 

Operating Income

     246        185   

Other Income and Expenses:

    

Miscellaneous income

     18        15   

Miscellaneous expense

     9        8   
  

 

 

   

 

 

 

Total other income

     9        7   

Interest Charges

     92        101   
  

 

 

   

 

 

 

Income Before Income Taxes

     163        91   

Income Taxes

     64        35   
  

 

 

   

 

 

 

Income from Continuing Operations

     99        56   

Loss from Discontinued Operations, Net of Taxes

     (1     (199
  

 

 

   

 

 

 

Net Income (Loss)

     98        (143

Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests

     2        2   
  

 

 

   

 

 

 

Net Income (Loss) Attributable to Ameren Corporation:

    

Continuing Operations

     97        54   

Discontinued Operations

     (1     (199
  

 

 

   

 

 

 

Net Income (Loss) Attributable to Ameren Corporation

   $ 96      $ (145

 

 

Earnings (Loss) per Common Share - Basic:

    

Continuing Operations

   $ 0.40      $ 0.22   

Discontinued Operations

     -        (0.82
  

 

 

   

 

 

 

Earnings (Loss) per Common Share - Basic

   $ 0.40      $ (0.60

Average Common Shares Outstanding - Basic

     242.6        242.6   


AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

 

        March 31,   
2014
     December 31,
2013
 

 

 
ASSETS      

Current Assets:

     

Cash and cash equivalents

   $ 26        $ 30    

Accounts receivable - trade (less allowance for doubtful accounts)

     553          404    

Unbilled revenue

     236          304    

Miscellaneous accounts and notes receivable

     201          196    

Materials and supplies

     424          526    

Current regulatory assets

     220          156    

Current accumulated deferred income taxes, net

     95          106    

Other current assets

     70          85    

Assets of discontinued operations

     15          165    
  

 

 

    

 

 

 

Total current assets

     1,840          1,972    
  

 

 

    

 

 

 

Property and Plant, Net

     16,425          16,205    

Investments and Other Assets:

     

Nuclear decommissioning trust fund

     503          494    

Goodwill

     411          411    

Intangible assets

     17          22    

Regulatory assets

     1,251          1,240    

Other assets

     719          698    
  

 

 

    

 

 

 

Total investments and other assets

     2,901          2,865    

 

 

TOTAL ASSETS

   $ 21,166        $ 21,042    

 

 
LIABILITIES AND EQUITY      

Current Liabilities:

     

Current maturities of long-term debt

   $ 648        $ 534    

Short-term debt

     700          368    

Accounts and wages payable

     559          806    

Taxes accrued

     89          55    

Interest accrued

     104          86    

Current regulatory liabilities

     248          216    

Other current liabilities

     344          351    

Liabilities of discontinued operations

     33          45    
  

 

 

    

 

 

 

Total current liabilities

     2,725          2,461    
  

 

 

    

 

 

 

Long-term Debt, Net

     5,226          5,504    

Deferred Credits and Other Liabilities:

     

Accumulated deferred income taxes, net

     3,340          3,250    

Accumulated deferred investment tax credits

     62          63    

Regulatory liabilities

     1,751          1,705    

Asset retirement obligations

     373          369    

Pension and other postretirement benefits

     480          466    

Other deferred credits and liabilities

     554          538    
  

 

 

    

 

 

 

Total deferred credits and other liabilities

     6,560          6,391    
  

 

 

    

 

 

 

Ameren Corporation Stockholders’ Equity:

     

Common stock

               

Other paid-in capital, principally premium on common stock

     5,602          5,632    

Retained earnings

     906          907    

Accumulated other comprehensive income

               
  

 

 

    

 

 

 

Total Ameren Corporation stockholders’ equity

     6,513          6,544    

Noncontrolling Interests

     142          142    
  

 

 

    

 

 

 

Total equity

     6,655          6,686    

 

 

TOTAL LIABILITIES AND EQUITY

   $ 21,166        $ 21,042    

 

 


AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

 

     Three Months Ended
March 31,
 
     2014     2013  

 

 

Cash Flows From Operating Activities:

    

Net income (loss)

   $ 98      $ (143

Loss from discontinued operations, net of taxes

     1        199   

Adjustments to reconcile net income to net cash provided by operating activities:

    

Depreciation and amortization

     176        166   

Amortization of nuclear fuel

     24        20   

Amortization of debt issuance costs and premium/discounts

     5        6   

Deferred income taxes and investment tax credits, net

     84        40   

Allowance for equity funds used during construction

     (7     (8

Stock-based compensation costs

     9        9   

Other

     (1     (3

Changes in assets and liabilities

     (150     56   
  

 

 

   

 

 

 

Net cash provided by operating activities - continuing operations

     239        342   

Net cash provided by operating activities - discontinued operations

     -        37   
  

 

 

   

 

 

 

Net cash provided by operating activities

     239        379   

 

 

Cash Flows From Investing Activities:

    

Capital expenditures

     (442     (275

Nuclear fuel expenditures

     (10     (11

Purchases of securities - nuclear decommissioning trust fund

     (186     (35

Sales and maturities of securities - nuclear decommissioning trust fund

     182        32   

Proceeds from note receivable - Illinois Power Marketing Company

     56        -   

Contributions to note receivable - Illinois Power Marketing Company

     (65     -   

Other

     -        (2
  

 

 

   

 

 

 

Net cash used in investing activities - continuing operations

     (465     (291

Net cash provided by (used in) investing activities - discontinued operations

     152        (12
  

 

 

   

 

 

 

Net cash used in investing activities

     (313     (303

 

 

Cash Flows From Financing Activities:

    

Dividends on common stock

     (97     (97

Dividends paid to noncontrolling interest holders

     (2     (2

Short-term debt, net

     332        -   

Redemptions of long-term debt

     (163     -   
  

 

 

   

 

 

 

Net cash provided by (used in) financing activities - continuing operations

     70        (99

Net cash used in financing activities - discontinued operations

     -        -   
  

 

 

   

 

 

 

Net cash provided by (used in) financing activities

     70        (99

 

 

Net change in cash and cash equivalents

     (4     (23

Cash and cash equivalents at beginning of year

     30        209   
  

 

 

   

 

 

 

Cash and cash equivalents at end of period

     26        186   

Less cash and cash equivalents at end of period - discontinued operations

     -        25   

 

 

Cash and cash equivalents at end of period - continuing operations

   $ 26      $ 161