Long-Term Debt And Equity Financings (Tables)

12 Months Ended

Dec. 31, 2018

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments

The following table presents long-term debt outstanding, including maturities due within one year, for the Ameren Companies as of December 31, 2018 and 2017:

	2018			2017
Ameren (Parent):
2.70% Senior unsecured notes due 2020	$	350		$	350
3.65% Senior unsecured notes due 2026	350			350
Total long-term debt, gross	700			700
Less: Unamortized debt issuance costs	(3		)	(4		)
Long-term debt, net	$	697		$	696
Ameren Missouri:
Bonds and notes:
6.00% Senior secured notes due 2018(a)	—			179
5.10% Senior secured notes due 2018(a)	—			199
6.70% Senior secured notes due 2019(a)(b)	329			329
5.10% Senior secured notes due 2019(a)	244			244
5.00% Senior secured notes due 2020(a)	85			85
1992 Series bonds due 2022(c)(d)	47			47
3.50% Senior secured notes due 2024(a)	350			350
2.95% Senior secured notes due 2027(a)	400			400
5.45% First mortgage bonds due 2028(e)	(e)			(e)
1998 Series A bonds due 2033(c)(d)	60			60
1998 Series B bonds due 2033(c)(d)	50			50
1998 Series C bonds due 2033(c)(d)	50			50
5.50% Senior secured notes due 2034(a)	184			184
5.30% Senior secured notes due 2037(a)	300			300
8.45% Senior secured notes due 2039(a)(b)	350			350
3.90% Senior secured notes due 2042(a)(b)	485			485
3.65% Senior secured notes due 2045(a)	400			400
4.00% First mortgage bonds due 2048(f)	425			—
Finance obligations:
City of Bowling Green agreement (Peno Creek CT) due 2022(g)	30			36
Audrain County agreement (Audrain County CT) due 2023(g)	240			240
Total long-term debt, gross	4,029			3,988
Less: Unamortized discount and premium	(9		)	(7		)
Less: Unamortized debt issuance costs	(22		)	(20		)
Less: Maturities due within one year	(580		)	(384		)
Long-term debt, net	$	3,418		$	3,577

	2018			2017
Ameren Illinois:
Bonds and notes:
6.25% Senior secured notes due 2018(h)	—			144
9.75% Senior secured notes due 2018(h)	—			313
2.70% Senior secured notes due 2022(h)(i)	400			400
5.90% First mortgage bonds due 2023(j)	(j)			(j)
5.70% First mortgage bonds due 2024(k)	(k)			(k)
3.25% Senior secured notes due 2025(h)	300			300
6.125% Senior secured notes due 2028(h)	60			60
1993 Series B-1 Senior unsecured notes due 2028(d)	17			17
3.80% First mortgage bonds due 2028(l)	430			—
6.70% Senior secured notes due 2036(h)	61			61
6.70% Senior secured notes due 2036(m)	42			42
4.80% Senior secured notes due 2043(h)	280			280
4.30% Senior secured notes due 2044(h)	250			250
4.15% Senior secured notes due 2046(h)	490			490
3.70% First mortgage bonds due 2047(l)	500			500
4.50% First mortgage bonds due 2049(l)	500			—
Total long-term debt, gross	3,330			2,857
Less: Unamortized discount and premium	(3		)	(3		)
Less: Unamortized debt issuance costs	(31		)	(24		)
Less: Maturities due within one year	—			(457		)
Long-term debt, net	$	3,296		$	2,373
ATXI:
3.43% Senior notes due 2050(n)	$	450		$	450
Total long-term debt, gross	450			450
Less: Unamortized debt issuance costs	(2		)	(2		)
Long-term debt, net	$	448		$	448
Ameren consolidated long-term debt, net	$	7,859		$	7,094

(a) These notes are collaterally secured by first mortgage bonds issued by Ameren Missouri under the Ameren Missouri mortgage indenture. The notes have a fall-away lien provision and will remain secured only as long as any first mortgage bonds issued under the Ameren Missouri mortgage indenture remain outstanding. Redemption, purchase, or maturity of all first mortgage bonds, including first mortgage bonds currently outstanding and any that may be issued in the future, would result in a release of the first mortgage bonds currently securing these notes, at which time these notes would become unsecured obligations. Considering the 2048 maturity of the 4.00% first mortgage bonds and the restrictions preventing a release date to occur that are attached to certain senior secured notes described in footnote (b) below, Ameren Missouri does not expect the first mortgage lien protection associated with these notes to fall away.

(b) Ameren Missouri has agreed that so long as any of the 3.90% senior secured notes due 2042 are outstanding, Ameren Missouri will not permit a release date to occur, and so long as any of the 6.70% senior secured notes due 2019 and 8.45% senior secured notes due 2039 are outstanding, Ameren Missouri will not optionally redeem, purchase, or otherwise retire in full the outstanding first mortgage bonds not subject to release provisions.

(c) These bonds are collaterally secured by first mortgage bonds issued by Ameren Missouri under the Ameren Missouri mortgage indenture and have a fall-away lien provision similar to that of Ameren Missouri’s senior secured notes. The bonds are also backed by an insurance guarantee policy.

(d) The interest rates and the periods during which such rates apply vary depending on our selection of defined rate modes. Maximum interest rates could reach 18%, depending on the series of bonds. The average interest rates for 2018 and 2017 were as follows:

	2018	2017
Ameren Missouri 1992 Series due 2022	2.37%	1.43%
Ameren Missouri 1998 Series A due 2033	2.76%	1.77%
Ameren Missouri 1998 Series B due 2033	2.79%	1.75%
Ameren Missouri 1998 Series C due 2033	2.83%	1.73%
Ameren Illinois 1993 Series B-1 due 2028	1.58%	1.08%

(e) These bonds are first mortgage bonds issued by Ameren Missouri under the Ameren Missouri mortgage bond indenture. They are secured by substantially all Ameren Missouri property and franchises. Less than $1 million principal amount of the bonds remain outstanding.

(f) These bonds are first mortgage bonds issued by Ameren Missouri under the Ameren Missouri bond indenture. They are secured by substantially all Ameren Missouri property and franchises.

(g) Payments due related to these financing obligations are paid to a trustee, which is authorized to utilize the cash only to pay equal amounts due to Ameren Missouri under related bonds issued by the city/county and held by Ameren Missouri. The timing and amounts of payments due from Ameren Missouri under the agreements are equal to the timing and amount of bond service payments due to Ameren Missouri, resulting in no net cash flow. The balance of both the financing obligations and the related investments in debt securities, recorded in "Other Assets," was $270 million and $276 million, respectively, as of December 31, 2018 and 2017.

(h) These notes are collaterally secured by first mortgage bonds issued by Ameren Illinois under its 1992 mortgage indenture. They are secured by substantially all property of the former IP and CIPS. The notes have a fall-away lien provision and will remain secured only as long as any series of first mortgage bonds issued under its 1992 mortgage indenture remain outstanding. Redemption, purchase, or maturity of all first mortgage bonds, including first mortgage bonds currently outstanding and any that may be issued in the future, would result in a release of the first mortgage bonds currently securing these notes, at which time these notes would become unsecured obligations. Considering the 2049 maturity date of the 4.50% first mortgage bonds, Ameren Illinois does not expect the first mortgage lien protection associated with these notes to fall away.

(i) Ameren Illinois has agreed that so long as any of the 2.70% senior secured notes due 2022 are outstanding, Ameren Illinois will not permit a release date to occur.

(j) These bonds are first mortgage bonds issued by Ameren Illinois under its 1933 mortgage indenture. They are secured by substantially all property of the former CILCO. The bonds are callable at 100% of par value. Less than $1 million principal amount of the bonds remain outstanding.

(k) These bonds are first mortgage bonds issued by Ameren Illinois under its 1992 mortgage indenture. They are secured by substantially all property of the former IP and CIPS. The bonds are also backed by an insurance guarantee policy. Less than $1 million principal amount of the bonds remains outstanding.

(l) These bonds are first mortgage bonds issued by Ameren Illinois under its 1992 mortgage indenture. They are secured by substantially all property of the former IP and CIPS.

(m) These notes are collaterally secured by first mortgage bonds issued by Ameren Illinois under its 1933 mortgage indenture. They are secured by substantially all property of the former CILCO. The notes have a fall-away lien provision, and Ameren Illinois could cause these notes to become unsecured at any time by redeeming the 5.90% first mortgage bonds due 2023 (of which less than $1 million principal amount remains outstanding).

Schedule Of Maturities Of Long-Term Debt

The following table presents the principal maturities schedule for the 3.43% senior notes due 2050:

Payment Date		Principal Payment
August 2022	$	49.5
August 2024		49.5
August 2027		49.5
August 2030		49.5
August 2032		49.5
August 2038		49.5
August 2043		76.5
August 2050		76.5
Total	$	450.0

The following table presents the aggregate maturities of long-term debt, including current maturities, for the Ameren Companies at December 31, 2018:

	Ameren (parent)(a)		Ameren Missouri(a)		Ameren Illinois(a)		ATXI(a)		Ameren Consolidated
2019	$	—	$	580	$	—	$	—	$	580
2020	350		92		—		—		442
2021	—		8		—		—		8
2022	—		55		400		50		505
2023	—		240		—		—		240
Thereafter	350		3,054		2,930		400		6,734
Total	$	700	$	4,029	$	3,330	$	450	$	8,509

(a) Excludes unamortized discount, unamortized premium, and debt issuance costs of $3 million, $31 million, $34 million and $2 million at Ameren (parent), Ameren Missouri, Ameren Illinois and ATXI, respectively.

Schedule Of Outstanding Preferred Stock

The following table presents the outstanding preferred stock of Ameren Missouri and Ameren Illinois, which is redeemable, at the option of the issuer, at the prices shown below as of December 31, 2018 and 2017:

		Redemption Price (per share)			2018		2017
Ameren Missouri:
Without par value and stated value of $100 per share, 25 million shares authorized
$3.50 Series	130,000 shares	$	110.00		$	13	$	13
$3.70 Series	40,000 shares	104.75			4		4
$4.00 Series	150,000 shares	105.625			15		15
$4.30 Series	40,000 shares	105.00			4		4
$4.50 Series	213,595 shares	110.00		(a)	21		21
$4.56 Series	200,000 shares	102.47			20		20
$4.75 Series	20,000 shares	102.176			2		2
$5.50 Series A	14,000 shares	110.00			1		1
Total					$	80	$	80
Ameren Illinois:
With par value of $100 per share, 2 million shares authorized
4.00% Series	144,275 shares	$	101.00		$	14	$	14
4.08% Series	45,224 shares	103.00			5		5
4.20% Series	23,655 shares	104.00			2		2
4.25% Series	50,000 shares	102.00			5		5
4.26% Series	16,621 shares	103.00			2		2
4.42% Series	16,190 shares	103.00			2		2
4.70% Series	18,429 shares	103.00			2		2
4.90% Series	73,825 shares	102.00			7		7
4.92% Series	49,289 shares	103.50			5		5
5.16% Series	50,000 shares	102.00			5		5
6.625% Series	124,274 shares	100.00			12		12
7.75% Series	4,542 shares	100.00			1		1
Total					$	62	$	62
Total Ameren					$	142	$	142

(a) In the event of voluntary liquidation, $105.50.

Schedule of Required and Actual Debt Ratios

The following table summarizes the required and actual interest coverage ratios for interest charges, dividend coverage ratios, and bonds and preferred stock issuable as of December 31, 2018, at an assumed interest rate of 5% and dividend rate of 6%.

	Required Interest Coverage Ratio(a)	Actual Interest Coverage Ratio	Bonds Issuable(b)			Required Dividend Coverage Ratio(c)	Actual Dividend Coverage Ratio	Preferred Stock Issuable
Ameren Missouri	>2.0	5.5	$	4,688		>2.5	140.8	$	3,153
Ameren Illinois	>2.0	6.9	4,234		(d)	>1.5	3.2	203		(e)

(a) Coverage required on the annual interest charges on first mortgage bonds outstanding and to be issued. Coverage is not required in certain cases when additional first mortgage bonds are issued on the basis of retired bonds.

(b) Amount of bonds issuable based either on required coverage ratios or unfunded property additions, whichever is more restrictive. The amounts shown also include bonds issuable based on retired bond capacity of $2,006 million and $985 million at Ameren Missouri and Ameren Illinois, respectively.

(c) Coverage required on the annual dividend on preferred stock outstanding and to be issued, as required in the respective company’s articles of incorporation.

(d) Amount of bonds issuable by Ameren Illinois based on unfunded property additions and retired bonds solely under its 1992 mortgage indenture.

(e) Preferred stock issuable is restricted by the amount of preferred stock that is currently authorized by Ameren Illinois’ articles of incorporation.