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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022, and December 31, 2021:
June 30, 2022December 31, 2021
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:
Ameren Missouri
Derivative assets – commodity contracts:
Fuel oils$27 $— $3 $30 $13 $— $— $13 
Natural gas1 27 — 28 — 12 — 12 
Power21 — 29 50 10 — 13 23 
Uranium— — 4 4 — — 1 1 
Total derivative assets – commodity contracts$49 $27 $36 $112 $23 $12 $14 $49 
Nuclear decommissioning trust fund:
Equity securities:
U.S. large capitalization$602 $— $— $602 $824 $— $— $824 
Debt securities:
U.S. Treasury and agency securities— 173 — 173 — 141 — 141 
Corporate bonds— 121 — 121 — 131 — 131 
Other— 54 — 54 — 56 — 56 
Total nuclear decommissioning trust fund$602 $348 $— $950 
(a)
$824 $328 $— $1,152 
(a)
Total Ameren Missouri$651 $375 $36 $1,062 $847 $340 $14 $1,201 
Ameren Illinois
Derivative assets – commodity contracts:
Natural gas$5 $71 $10 $86 $1 $33 $7 $41 
Power— — 10 10 — — — — 
Total Ameren Illinois$5 $71 $20 $96 $1 $33 $7 $41 
Ameren
Derivative assets – commodity contracts(b)
$54 $98 $56 $208 $24 $45 $21 $90 
Nuclear decommissioning trust fund(c)
602 348 — 950 
(a)
824 328 — 1,152 
(a)
Total Ameren$656 $446 $56 $1,158 $848 $373 $21 $1,242 
Liabilities:
Ameren Missouri
Derivative liabilities – commodity contracts:
Natural gas$— $4 $2 $6 $— $2 $1 $3 
Power100 — 65 165 45 — 28 73 
Uranium— — — — — — 1 1 
Total Ameren Missouri$100 $4 $67 $171 $45 $2 $30 $77 
June 30, 2022December 31, 2021
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Ameren Illinois
Derivative liabilities – commodity contracts:
Natural gas$— $6 $5 $11 $— $5 $3 $8 
Power— — 54 54 — — 117 117 
Total Ameren Illinois$— $6 $59 $65 $— $5 $120 $125 
Ameren
Derivative liabilities – commodity contracts(b)
$100 $10 $126 $236 $45 $7 $150 $202 
(a)Balance excludes $7 million of cash and cash equivalents, receivables, payables, and accrued income, net, for both June 30, 2022, and December 31, 2021.
(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, 2022 and 2021:
20222021
Ameren MissouriAmeren IllinoisAmerenAmeren MissouriAmeren IllinoisAmeren
For the three months ended June 30:
Beginning balance at April 1
$(53)$(74)$(127)$(3)$(185)$(188)
Realized and unrealized gains/(losses) included in regulatory assets/liabilities(5)32 27 (1)15 14 
Settlements22 (2)20 (1)4 3 
Ending balance at June 30
$(36)$(44)$(80)$(5)$(166)$(171)
Change in unrealized gains/(losses) related to assets/liabilities held at June 30
$2 $30 $32 $(2)$15 $13 
For the six months ended June 30:
Beginning balance at January 1$(15)$(117)$(132)$2 $(198)$(196)
Realized and unrealized gains/(losses) included in regulatory assets/liabilities(45)74 29 (6)24 18 
Settlements24 (1)23 (1)8 7 
Ending balance at June 30
$(36)$(44)$(80)$(5)$(166)$(171)
Change in unrealized gains/(losses) related to assets/liabilities held at June 30
$(36)$72 $36 $(3)$24 $21 
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, 2022, and December 31, 2021:
Fair Value
Weighted Average(b)
CommodityAssetsLiabilitiesValuation Technique(s)
Unobservable Input(a)
Range
2022
Power(c)
$39$(119)Discounted cash flow
Average forward peak and off-peak pricing – forwards/swaps ($/MWh)
36 – 122
65
Nodal basis ($/MWh)
(17) – 3
(6)
Trend rate (%)
0 – 3
2
2021
Power(d)
$13$(145)Discounted cash flowAverage forward peak and off-peak pricing – forwards/swaps ($/MWh)
32 – 55
40
Nodal basis ($/MWh)
(14) – 0
(2)
Trend rate (%)(e)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 2031 use visible forward prices adjusted for nodal-to-hub basis differentials. Valuations beyond 2031 use a trend rate factor and are similarly adjusted for nodal-to-hub basis differentials.
(d)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.
(e)No meaningful range around weighted average.
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, 2022, and December 31, 2021:
Carrying
Amount		Fair Value
Level 1Level 2Level 3Total
June 30, 2022
Ameren:
Cash, cash equivalents, and restricted cash$161 $161 $— $— $161 
Investments in industrial development revenue bonds(a)
248 — 248 — 248 
Short-term debt1,021 — 1,021 — 1,021 
Long-term debt (including current portion)(a)
13,590 
(b)
— 12,016 500 
(c)
12,516 
Ameren Missouri:
Cash, cash equivalents, and restricted cash$7 $7 $— $— $7 
Investments in industrial development revenue bonds(a)
248 — 248 — 248 
Short-term debt285 — 285 — 285 
Long-term debt (including current portion)(a)
6,139 
(b)
— 5,641 — 5,641 
Ameren Illinois:
Cash, cash equivalents, and restricted cash$146 $146 $— $— $146 
Short-term debt141 — 141 — 141 
Long-term debt (including current portion)4,394 
(b)
— 4,037 — 4,037 
December 31, 2021
Ameren:
Cash, cash equivalents, and restricted cash$155 $155 $— $— $155 
Investments in industrial development revenue bonds(a)
248 — 248 — 248 
Short-term debt545 — 545 — 545 
Long-term debt (including current portion)(a)
13,067 
(b)
— 13,930 591 
(c)
14,521 
Ameren Missouri:
Cash, cash equivalents, and restricted cash$8 $8 $— $— $8 
Investments in industrial development revenue bonds(a)
248 — 248 — 248 
Short-term debt165 — 165 — 165 
Long-term debt (including current portion)(a)
5,619 
(b)
— 6,321 — 6,321 
Ameren Illinois:
Cash, cash equivalents, and restricted cash$133 $133 $— $— $133 
Short-term debt103 — 103 — 103 
Long-term debt (including current portion)4,392 
(b)
— 4,971 — 4,971 
(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, 2022, and December 31, 2021, 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 $97 million, $43 million, and $37 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of June 30, 2022. Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $94 million, $38 million, and $39 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of December 31, 2021.
(c)The Level 3 fair value amount consists of ATXI’s senior unsecured notes.