Divestiture Transactions and Discontinued Operations

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

DIVESTITURE TRANSACTIONS AND DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

See Note 16 – Divestiture Transactions and Discontinued Operations under Part II, Item 8, of the Form 10-K for additional information related to discontinued operations.

All matters related to the final tax basis of New AER and the related tax benefit resulting from the divested merchant generation business were resolved with the completion of the IRS audit for 2013. During the second quarter of 2015, based on the completion of the IRS audit, Ameren removed a reserve for unrecognized tax benefits recorded in 2013 and recognized a tax benefit from discontinued operations. 

The following table presents the components of discontinued operations in Ameren's consolidated statement of income for the three and six months ended June 30, 2016 and 2015:

	Three Months				Six Months
	2016		2015		2016		2015
Operating revenues	$	—	$	—	$	—	$	—
Operating benefits (expenses)	—		—		—		3
Operating income before income tax	—		—		—		3
Income tax benefit	—		52		—		49
Income from discontinued operations, net of taxes	$	—	$	52	$	—	$	52

The following table presents the carrying amounts of the components of assets and liabilities of Ameren’s discontinued operations, which consist primarily of AROs and related deferred income tax assets associated with the abandoned Meredosia and Hutsonville energy centers, at June 30, 2016, and December 31, 2015:

	June 30, 2016		December 31, 2015
Assets of discontinued operations
Accumulated deferred income taxes, net	$	14	$	14
Total assets of discontinued operations	$	14	$	14
Liabilities of discontinued operations
Accounts payable and other current obligations	$	1	$	1
Asset retirement obligations(a)	26		28
Total liabilities of discontinued operations	$	27	$	29

(a) Ameren has demolished and completed its retirement obligations at the Hutsonville energy center. The remaining ARO liabilities relate to the abandoned Meredosia energy center.