XML 33 R20.htm IDEA: XBRL DOCUMENT v3.19.3
Supplemental Information
 9 Months Ended
Sep. 30, 2019
Supplemental Information [Abstract]  
Supplemental Information SUPPLEMENTAL INFORMATION
Cash, Cash Equivalents, and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets and the statements of cash flows as of September 30, 2019, and December 31, 2018:
 
September 30, 2019
 
 
December 31, 2018
Ameren
 
Ameren
Missouri
 
Ameren
Illinois
 
 
Ameren
 
Ameren
Missouri
 
Ameren
Illinois
Cash and cash equivalents
$
20

 
$
—

 
$
—

 
 
$
16

 
$
—

 
$
—

Restricted cash included in “Other current assets”
14

 
4

 
6

 
 
13

 
4

 
6

Restricted cash included in “Other assets”
111

 
—

 
111

 
 
74

 
—

 
74

Restricted cash included in “Nuclear decommissioning trust fund”
10

 
10

 
—

 
 
4

 
4

 
—

Total cash, cash equivalents, and restricted cash
$
155

 
$
14

 
$
117

 
 
$
107

 
$
8

 
$
80


Restricted cash included in “Other current assets” primarily represents funds held by an irrevocable Voluntary Employee Beneficiary Association (VEBA) trust, which provides health care benefits for active employees. Restricted cash included in “Other assets” on Ameren’s and Ameren Illinois’ balance sheets primarily represents amounts collected under a cost recovery rider restricted for use in the procurement of renewable energy credits and amounts in a trust fund restricted for the use of funding certain asbestos-related claims.
Accounts Receivable
“Accounts receivable – trade” on Ameren’s and Ameren Illinois’ balance sheets include certain receivables purchased at a discount from alternative retail electric suppliers that elect to participate in the utility consolidated billing program. At September 30, 2019, and December 31, 2018, “Other current liabilities” on Ameren’s and Ameren Illinois’ balance sheets included payables for purchased receivables of $37 million and $33 million, respectively.
For the three and nine months ended September 30, 2019 and 2018, the Ameren Companies recorded immaterial bad debt expense.
Leases
In the first quarter of 2019, we adopted authoritative accounting guidance related to leases, which affected our financial position, but did not materially affect our results of operations or liquidity. The most significant impact for us was the recognition of right-of-use assets and lease liabilities for operating leases, while the accounting for our finance leases remained substantially unchanged. Ameren and Ameren Missouri recognized right-of-use assets and offsetting lease liabilities of $38 million and $36 million at January 1, 2019, respectively, primarily
related to rail car leases. The effect of the adoption was immaterial at Ameren Illinois. No adjustment to comparative periods was made. We elected the available practical expedients upon adoption.
Ameren Missouri primarily leases rail cars under operating lease arrangements for the transportation of coal inventory to its energy centers. Although Ameren Missouri has options to renew a portion of these arrangements for up to five years on similar terms, the exercise of these options was not assumed in the recognition of right-of-use assets and lease obligations. For rail car leases, we account for the lease and non-lease components as a single lease component.
The operating lease expense and the cash paid for amounts included in the measurement of operating lease liabilities at Ameren and Ameren Missouri were immaterial for the three and nine months ended September 30, 2019 and 2018.
The following table provides supplemental balance sheet information related to operating leases as of September 30, 2019:
 
Ameren
 
Ameren Missouri
Other assets
$
38

 
$
36

Other current liabilities
8

 
7

Other deferred credits and liabilities
30

 
29

Weighted average remaining operating lease term
6 years

 
6 years

Weighted average discount rate(a)
3.5
%
 
3.4
%
(a)
As an implicit rate is not readily determinable under most of our lease agreements, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use an implicit rate when readily determinable.
The following table presents Ameren’s and Ameren Missouri’s remaining maturities of operating lease liabilities as of September 30, 2019:
 
Ameren
 
Ameren Missouri
2019
$
2

 
$
2

2020
8

 
8

2021
8

 
7

2022
7

 
6

2023
6

 
6

Thereafter
11

 
10

Total lease payments
42

 
39

Less imputed interest
4

 
3

Total(a)
$
38

 
$
36


(a)
The amount of remaining maturities of operating lease liabilities under previous authoritative accounting guidance as of December 31, 2018, is materially consistent with the amount as of September 30, 2019. Maturities of certain financing arrangements, including the Peno Creek and Audrain energy centers' long-term agreements, are no longer required to be disclosed as lease-related maturities. See Note 5 – Long-Term Debt and Equity Financings under Part II, Item 8, in the Form 10-K for further information on financing arrangements.
Supplemental Cash Flow Information
The following table provides noncash financing and investing activity excluded from the statements of cash flows for the nine months ended September 30, 2019 and 2018:
 
September 30, 2019
 
September 30, 2018
Ameren
Ameren
Missouri
Ameren
Illinois
Ameren
Ameren
Missouri
Ameren
Illinois
Investing
 
 
 
 
 
 
 
Exchange of bond investments for the extinguishment of senior unsecured notes(a)
$
17

$
—

$
17

 
$
—

$
—

$
—

Accrued capital expenditures
273

138

128

 
240

94

133

Net realized and unrealized gain – nuclear decommissioning trust fund
100

100

—

 
33

33

—

Financing
 
 
 
 
 
 
 
Exchange of bond investments for the extinguishment of senior unsecured notes(a)
$
(17
)
$
—

$
(17
)
 
$
—

$
—

$
—

Issuance of common stock for stock-based compensation
54

—

—

 
35

—

—


(a)
See Note 4 – Long-term Debt and Equity Financings for additional information.
Asset Retirement Obligations
The following table provides a reconciliation of the beginning and ending carrying amount of AROs for the nine months ended September 30, 2019:
 
Ameren
Missouri
 
Ameren
Illinois
 
Ameren
 
Balance at December 31, 2018
$
646

(a) 
$
4

(b) 
$
650

(a) 
Liabilities settled
(10
)
 
—

 
(10
)
 
Accretion
21

(c) 
—

 
21

(c) 
Change in estimates
33

(d) 
—

 
33

(d) 
Balance at September 30, 2019
$
690

(a) 
$
4

(b) 
$
694

(a) 
(a)
Balance included $23 million in “Other current liabilities” on the balance sheet as of both December 31, 2018, and September 30, 2019.
(b)
Included in “Other deferred credits and liabilities” on the balance sheet.
(c)
Accretion expense attributable to Ameren Missouri was recorded as a decrease to regulatory liabilities.
(d)
Ameren Missouri changed its fair value estimate primarily due to an increase in the cost estimate for closure of certain CCR storage facilities.
Stock-based Compensation
The following table summarizes Ameren's nonvested performance share unit and restricted stock unit activity for the nine months ended September 30, 2019:
 
Performance Share Units
 
Restricted Stock Units
 
Share Units
 
Weighted-average Fair Value per Share Unit
 
Stock Units
 
Weighted-average Fair Value per Stock Unit
Nonvested at January 1, 2019(a)
682,811

 
$
56.58

 
155,253

 
$
57.38

Granted
297,728

 
67.42

(b) 
128,883

 
65.49

Forfeitures
(33,195
)
 
64.34

 
(11,028
)
 
62.74

Vested and undistributed(c)
(180,823
)
 
62.24

 
(40,616
)
 
61.91

Vested and distributed
(176,923
)
 
44.13

 
(2,403
)
 
54.30

Nonvested at September 30, 2019(d)
589,598

 
$
63.62

 
230,089

 
$
60.90

(a)
Does not include 619,783 performance share units and 26,557 restricted stock units that were vested and undistributed.
(b)
Significant inputs to the Monte Carlo simulation model used to calculate the fair value of performance share units granted include Ameren’s closing common share price of $65.23 at December 31, 2018, Ameren’s common stock volatility of 17%, a volatility range for the peer group of 15% to 25%, and a three-year risk-free rate of 2.46%.
(c)
Vested and undistributed units are awards that vest on a pro-rata basis due to attainment of retirement eligibility by certain employees, but have not yet been distributed. For vested and undistributed performance share units, the number of shares issued for retirement-eligible employees will vary depending on actual performance over the three year performance period.
(d)
Does not include 448,831 performance share units and 67,173 restricted stock units that were vested and undistributed.
For the nine months ended September 30, 2019 and 2018, excess tax benefits associated with the settlement of stock-based compensation awards reduced income tax expense by $14 million and $6 million, respectively.
Deferred Compensation
As of September 30, 2019, and December 31, 2018, “Other deferred credits and liabilities” on Ameren’s balance sheet included deferred compensation obligations of $78 million and $80 million, respectively, recorded at the present value of future benefits to be paid.
Operating Revenues
As of September 30, 2019 and 2018, our remaining performance obligations for contracts with a term greater than one year were immaterial. The Ameren Companies elected not to disclose the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of the end of the reporting period for contracts with an initial expected term of one year or less.
See Note 14 – Segment Information for disaggregated revenue information.
Excise Taxes
Ameren Missouri and Ameren Illinois collect from their customers excise taxes, including municipal and state excise taxes and gross receipts taxes, that are levied on the sale or distribution of natural gas and electricity. The following table presents the excise taxes recorded on a gross basis in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” on the statements of income for the three and nine months ended September 30, 2019 and 2018:
 
Three Months
 
Nine Months
 
 
2019
2018
 
2019
2018
 
Ameren Missouri
$
49

$
52

 
$
118

$
133

 
Ameren Illinois
27

26

 
91

89

 
Ameren
$
76

$
78

 
$
209

$
222

 

Earnings per Share
Earnings per basic and diluted share are computed by dividing “Net Income Attributable to Ameren Common Shareholders” by the weighted-average number of basic and diluted common shares outstanding, respectively, during the applicable period. The weighted-average shares outstanding for earnings per diluted share includes the incremental effects of stock-based performance share units, restricted stock units, and the forward sale agreement when the impact would be dilutive, as calculated using the treasury stock method.
The following table presents Ameren’s basic and diluted earnings per share calculations and reconciles the weighted-average number of common shares outstanding to the diluted weighted-average number of common shares outstanding for the three and nine months ended September 30, 2019 and 2018:
 
Three Months
 
Nine Months


2019
 
2018
 
2019
 
2018
Weighted-average Common Shares Outstanding – Basic
245.9

 
244.1

 
245.5

 
243.6

Assumed settlement of performance share units and restricted stock units
1.4

 
2.2

 
1.4

 
1.9

Dilutive effect of forward sale agreement
0.2

 
—

 
0.1

 
—

Weighted-average Common Shares Outstanding – Diluted(a)
247.5

 
246.3

 
247.0

 
245.5


(a)
There were no potentially dilutive securities excluded from the earnings per diluted share calculations for the three and nine months ended September 30, 2019 and 2018.