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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule Of Fair Value Hierarchy Of Assets And Liabilities Measured At Fair Value On Recurring Basis
The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of June 30, 2020, and December 31, 2019:
June 30, 2020December 31, 2019
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:
Ameren Missouri
Derivative assets – commodity contracts:
Fuel oils$—  $—  $3  $3  $—  $—  $6  $6  
Natural gas—  1  —  1  —  —  —  —  
Power2  —  17  19  —  2  14  16  
Uranium—  —  1  1  —  —  —  —  
Total derivative assets – commodity contracts$2  $1  $21  $24  $—  $2  $20  $22  
Nuclear decommissioning trust fund:
Equity securities:
U.S. large capitalization$556  $—  $—  $556  $569  $—  $—  $569  
Debt securities:
U.S. Treasury and agency securities—  106  —  106  —  107  —  107  
Corporate bonds—  116  —  116  —  93  —  93  
Other—  72  —  72  —  73  —  73  
Total nuclear decommissioning trust fund$556  $294  $—  $850  
(a)
$569  $273  $—  $842  
(a)
Total Ameren Missouri$558  $295  $21  $874  $569  $275  $20  $864  
Ameren Illinois
Derivative assets – commodity contracts:
Natural gas$—  $2  $3  $5  $—  $1  $3  $4  
Ameren
Derivative assets – commodity contracts(b)
$2  $3  $24  $29  $—  $3  $23  $26  
Nuclear decommissioning trust fund(c)
556  294  —  850  
(a)
569  273  —  842  
(a)
Total Ameren$558  $297  $24  $879  $569  $276  $23  $868  
Liabilities:
Ameren Missouri
Derivative liabilities – commodity contracts:
Fuel oils$14  $—  $9  $23  $1  $—  $6  $7  
Natural gas—  2  —  2  —  2  —  2  
Power3  —  1  4  —  2  1  3  
Uranium—  —  —  —  —  —  1  1  
Total Ameren Missouri$17  $2  $10  $29  $1  $4  $8  $13  
Ameren Illinois
Derivative liabilities – commodity contracts:
Natural gas$1  $9  $3  $13  $3  $12  $3  $18  
Power—  —  229  229  —  —  224  224  
Total Ameren Illinois$1  $9  $232  $242  $3  $12  $227  $242  
Ameren
Derivative liabilities – commodity contracts(b)
$18  $11  $242  $271  $4  $16  $235  $255  
(a)Balance excludes $4 million and $5 million of cash and cash equivalents, receivables, payables, and accrued income, net, for June 30, 2020, and December 31, 2019, respectively.
(b)See the Ameren Missouri and Ameren Illinois sections of the table for a breakout of the fair value of Ameren’s derivative assets and liabilities by type of commodity.
(c)See the Ameren Missouri section of the table for a breakout of the fair value of Ameren's nuclear decommissioning trust fund by investment type.
Schedule Of Changes In The Fair Value Of Financial Assets And Liabilities Classified As Level Three In The Fair Value Hierarchy The following table presents the fair value reconciliation of Level 3 power derivative contract assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2020 and 2019:
20202019
Ameren
Missouri		Ameren
Illinois		AmerenAmeren MissouriAmeren IllinoisAmeren
For the three months ended June 30:
Beginning balance at April 1
$17  $(241) $(224) $—  $(184) $(184) 
Realized and unrealized gains/(losses) included in regulatory assets/liabilities9  7  16  16  (11) 5  
Settlements(10) 5  (5) (1) 4  3  
Ending balance at June 30
$16  $(229) $(213) $15  $(191) $(176) 
Change in unrealized gains/(losses) related to assets/liabilities held at June 30
$8  $7  $15  $16  $(11) $5  
For the six months ended June 30:
Beginning balance at January 1$13  $(224) $(211) $—  $(183) $(183) 
Realized and unrealized gains/(losses) included in regulatory assets/liabilities20  (14) 6  16  (15) 1  
Settlements(17) 9  (8) (1) 7  6  
Ending balance at June 30
16  (229) (213) 15  (191) (176) 
Change in unrealized gains/(losses) related to assets/liabilities held at June 30
$12  $(13) $(1) $16  $(15) $1  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques
The following table describes the valuation techniques and significant unobservable inputs utilized for the fair value of our Level 3 power derivative contract assets and liabilities as of June 30, 2020, and December 31, 2019:
Fair Value
Weighted Average(b)
CommodityAssetsLiabilitiesValuation Technique(s)
Unobservable Input(a)
Range
2020
Power(c)
$17$(230)Discounted cash flow
Average forward peak and off-peak pricing – forwards/swaps ($/MWh)
22 – 35
26
Nodal basis ($/MWh)
(6) – 0
(2)
Trend rate (%)
3 – 4
3
2019
Power(d)
$14$(225)Discounted cash flowAverage forward peak and off-peak pricing – forwards/swaps ($/MWh)
22 – 34
25
Nodal basis ($/MWh)
(6) – 0
(2)
Trend rate (%)
(1) – 0
0
(a)Generally, significant increases (decreases) in these inputs in isolation would result in a significantly higher (lower) fair value measurement.
(b)Unobservable inputs were weighted by relative fair value.
(c)Valuations through 2029 use visible forward prices adjusted for nodal-to-hub basis differentials. Valuations beyond 2029 use a trend rate factor and are similarly adjusted for nodal-to-hub basis differentials.
(d)Valuations through 2028 use visible forward prices adjusted for nodal-to-hub basis differentials. Valuations beyond 2028 use a trend rate factor and are similarly adjusted for nodal-to-hub basis differentials.
Schedule of Financial Assets and Liabilities
The following table sets forth the carrying amount and, by level within the fair value hierarchy, the fair value of financial assets and liabilities disclosed, but not recorded, at fair value as of June 30, 2020, and December 31, 2019:
Carrying
Amount		Fair Value
Level 1Level 2Level 3Total
June 30, 2020
Ameren:
Cash, cash equivalents, and restricted cash$163  $163  $—  $—  $163  
Investments in industrial development revenue bonds(a)
263  —  263  —  263  
Short-term debt120  —  120  —  120  
Long-term debt (including current portion)(a)
10,528  
(b)
—  11,747  510  
(c)
12,257  
Ameren Missouri:
Cash, cash equivalents, and restricted cash$11  $11  $—  $—  $11  
Investments in industrial development revenue bonds(a)
263  —  263  —  263  
Short-term debt79  —  79  —  79  
Long-term debt (including current portion)(a)
4,567  
(b)
—  5,258  —  5,258  
Ameren Illinois:
Cash, cash equivalents, and restricted cash$142  $142  $—  $—  $142  
Short-term debt41  —  41  —  41  
Long-term debt (including current portion)3,576  
(b)
—  4,369  —  4,369  
December 31, 2019
Ameren:
Cash, cash equivalents, and restricted cash$176  $176  $—  $—  $176  
Investments in industrial development revenue bonds(a)
263  —  263  —  263  
Short-term debt440  —  440  —  440  
Long-term debt (including current portion)(a)
9,357  
(b)
—  9,957  484  
(c)
10,441  
Ameren Missouri:
Cash, cash equivalents, and restricted cash$39  $39  $—  $—  $39  
Investments in industrial development revenue bonds(a)
263  —  263  —  263  
Short-term debt234  —  234  —  234  
Long-term debt (including current portion)(a)
4,190  
(b)
—  4,772  —  4,772  
Ameren Illinois:
Cash, cash equivalents, and restricted cash$125  $125  $—  $—  $125  
Short-term debt53  —  53  —  53  
Long-term debt (including current portion)3,575  
(b)
—  4,019  —  4,019  
(a)Ameren and Ameren Missouri have investments in industrial development revenue bonds, classified as held-to-maturity and recorded in “Other Assets,” that are equal to the finance obligations for the Peno Creek and Audrain CT energy centers. As of June 30, 2020, and December 31, 2019, the carrying amount of both the investments in industrial development revenue bonds and the finance obligations approximated fair value.
(b)Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $78 million, $32 million, and $33 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of June 30, 2020. Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $72 million, $30 million, and $34 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of December 31, 2019.
(c)The Level 3 fair value amount consists of ATXI’s senior unsecured notes.