EX-99.2 3 ex99_2.htm EXHIBIT 99.2 Exhibit 99.2

 
     
 
Exhibit 99.2
     
AMEREN CORPORATION (AEE)
  
CONSOLIDATED BALANCE SHEET
 
(Unaudited, in millions)
  
           
   
December 31,
  
December 31,
 
   
2004
 
2003
 
           
ASSETS
          
Current Assets:
              
Cash and cash equivalents
  
$
69
  
$
111
  
Accounts receivable - trade
   
442
   
326
 
Unbilled revenue
    
336
   
221
 
Miscellaneous accounts and notes receivable
    
38
   
126
 
Materials and supplies, at average cost
   
623
   
487
 
Other current assets
    
74
   
46
 
Total current assets
    
1,582
   
1,317
 
Property and Plant, Net
    
13,297
   
10,920
 
Investments and Other Non-Current Assets:
              
Investments in leveraged leases
    
140
   
152
 
Nuclear decommissioning trust fund
    
235
   
212
 
Goodwill and other intangibles, net
    
940
   
574
 
Other assets
    
411
   
332
 
Total investments and other assets
    
1,726
   
1,270
 
Regulatory Assets
    
829
   
729
 
               
TOTAL ASSETS
  
$
17,434
  
$
14,236
  
               
LIABILITIES AND STOCKHOLDERS' EQUITY
              
Current Liabilities:
              
Current maturities of long-term debt
  
$
423
  
$
498
  
Short-term debt
    
417
   
161
 
Accounts and wages payable
    
567
   
480
 
Taxes accrued
    
26
   
103
 
Other current liabilities
    
374
   
215
 
Total current liabilities
    
1,807
   
1,457
 
Long-term Debt, Net
    
5,021
   
4,070
 
Preferred Stock Subject to Mandatory Redemption
    
20
   
21
 
Deferred Credits and Other Non-Current Liabilities:
              
Accumulated deferred income taxes, net
    
1,886
   
1,853
 
Accumulated deferred investment tax credits
    
139
   
151
 
Regulatory liabilities
    
1,042
   
824
 
Asset retirement obligations
    
439
   
413
 
Accrued pension and other post-retirement benefits
    
756
   
699
 
Other deferred credits and liabilities
    
315
   
190
 
Total deferred credits and other liabilities
    
4,577
   
4,130
 
Preferred Stock Not Subject to Mandatory Redemption
    
195
   
182
 
Minority Interest in Consolidated Subsidiaries
    
14
   
22
 
Stockholders' Equity:
              
Common stock
   
2
   
2
 
Other paid-in capital, principally premium on common stock
    
3,949
   
2,552
 
Retained earnings
    
1,904
   
1,853
 
Accumulated other comprehensive income (loss)
    
(45
)
  
(44
)
Other
    
(10
)
  
(9
)
Total stockholders' equity
    
5,800
   
4,354
 
               
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
  
$
17,434
  
$
14,236
  
               
               

 
     
 


AMEREN CORPORATION (AEE)
  
CONSOLIDATED STATEMENT OF INCOME
 
(Unaudited, in millions, except per share amounts)
  
                   
                   
                   
   
Three Months Ended
  
Twelve Months Ended
  
   
December 31,
  
December 31,
  
   
2004
 
2003
 
2004
 
2003
 
                   
Operating Revenues:
                          
Electric
  
$
1,106
  
$
851
  
$
4,288
  
$
3,952
  
Gas
    
368
   
198
   
866
   
648
 
Other
    
1
   
2
   
6
   
8
 
Total operating revenues
    
1,475
   
1,051
   
5,160
   
4,608
 
                           
Operating Expenses:
                          
Fuel and purchased power
    
388
   
256
   
1,278
   
1,070
 
Gas purchased for resale
    
263
   
141
   
598
   
457
 
Other operations and maintenance
    
381
   
323
   
1,337
   
1,224
 
Coal contract settlement
    
-
   
-
   
-
   
(51
)
Depreciation and amortization
    
159
   
131
   
557
   
519
 
Taxes other than income taxes
    
81
   
61
   
312
   
299
 
Total operating expenses
    
1,272
   
912
   
4,082
   
3,518
 
Operating Income
    
203
   
139
   
1,078
   
1,090
 
                           
Other Income and (Deductions):
                          
Miscellaneous income
    
12
   
11
   
32
   
27
 
Miscellaneous expense
    
(3
)
  
(8
)
  
(9
)
  
(22
)
Total other income and (deductions)
    
9
   
3
   
23
   
5
 
                           
Interest Charges and Preferred Dividends:
                          
Interest
    
86
   
73
   
278
   
277
 
Preferred dividends of subsidiaries
    
3
   
3
   
11
   
11
 
Net interest charges and preferred dividends
    
89
   
76
   
289
   
288
 
                           
Income Before Income Taxes and Cumulative Effect of Change in Accounting Principle
    
123
   
66
   
812
   
807
 
                           
Income Taxes
    
40
   
28
   
282
   
301
 
                           
Income Before Cumulative Effect of Change in Accounting Principle
    
83
   
38
   
530
   
506
 
                           
Cumulative Effect of Change in Accounting Principle, Net of Income Taxes
    
-
   
-
   
-
   
18
 
                           
Net Income
 
$
83
  
$
38
  
$
530
  
$
524
  
                           
Earnings per Common Share - Basic and Diluted:
                          
Income before cumulative effect of change in accounting
principle
  
$
0.42
  
$
0.24
  
$
2.84
  
$
3.14
  
Cumulative effect of change in accounting principle, net of
income taxes
   
-
   
-
   
-
   
0.11
 
Earnings per Common Share - Basic and Diluted:
  
$
0.42
  
$
0.24
  
$
2.84
  
$
3.25
  
                           
                           
Average Common Shares Outstanding
    
194.8
   
162.4
   
186.4
   
161.1
 
                           
                           

 
     
 

AMEREN CORPORATION (AEE)
  
CONSOLIDATED STATEMENT OF CASH FLOWS
 
(Unaudited, in millions)
  
           
           
   
Twelve Months Ended
  
   
December 31,
  
   
2004
 
2003
 
           
Cash Flows From Operating Activities:
              
Net income
 
$
530
  
$
524
  
Adjustments to reconcile net income to net cash
              
provided by operating activities:
              
Cumulative effect of change in accounting principle
    
-
   
(18
)
Depreciation and amortization
    
557
   
519
 
Amortization of nuclear fuel
    
31
   
33
 
Amortization of debt issuance costs and premium/discounts
    
13
   
10
 
Deferred income taxes, net
    
351
   
12
 
Deferred investment tax credits, net
    
(12
)
  
(11
)
Coal contract settlement
    
36
   
(36
)
Voluntary retirement and other restructuring charges
    
-
   
(5
)
Pension contribution
    
(295
)
  
(25
)
Other
   
28
   
5
 
Changes in assets and liabilities, excluding the effects of the acquisitions:
              
Receivables, net
    
(18
)
  
6
 
Materials and supplies
    
(25
)
  
(47
)
Accounts and wages payable
    
29
   
(16
)
Taxes accrued
    
(67
)
  
39
 
Assets, other
   
(62
)
  
(15
)
Liabilities, other
    
33
   
47
 
Net cash provided by operating activities
    
1,129
   
1,022
 
               
               
Cash Flows From Investing Activities:
              
Construction expenditures
    
(806
)
  
(682
)
Acquisitions, net of cash acquired
    
(443
)
  
(479
)
Nuclear fuel expenditures
    
(42
)
  
(23
)
Other
    
25
   
3
 
Net cash used in investing activities
    
(1,266
)
  
(1,181
)
               
               
Cash Flows From Financing Activities:
              
Dividends on common stock
    
(479
)
  
(410
)
Capital issuance costs
    
(40
)
  
(14
)
Redemptions, Repurchases and Maturities:
              
Nuclear fuel lease
    
(67
)
  
(46
)
Short-term debt
    
-
   
(110
)
Long-term debt
    
(1,465
)
  
(815
)
Preferred stock
    
(1
)
  
(31
)
Issuances:
              
Common stock
    
1,441
   
361
 
Short-term debt
    
256
   
-
 
Long-term debt
    
458
   
698
 
Other
    
(8
)
  
9
 
Net cash provided by (used in) financing activities
    
95
   
(358
)
               
Net Change In Cash and Cash Equivalents
    
(42
)
  
(517
)
Cash and Cash Equivalents at Beginning of Year
    
111
   
628
 
               
Cash and Cash Equivalents at End of Period
  
$
69
  
$
111