EX-99.2 3 exhibit99_2.htm AMEREN FINANCIAL STATEMENTS Ameren Financial Statements
Exhibit 99.2 
 
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
                 
                 
                 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2006
 
2005
 
2006
 
2005
 
                 
Operating Revenues:
                       
Electric
$
1,378
 
$
1,407
 
$
2,589
 
$
2,529
 
Gas
 
172
   
174
   
761
   
670
 
Other
 
-
   
3
   
-
   
4
 
Total operating revenues
 
1,550
   
1,584
   
3,350
   
3,203
 
                         
Operating Expenses:
                       
Fuel and purchased power
 
524
   
485
   
1,049
   
894
 
Gas purchased for resale
 
104
   
106
   
557
   
460
 
Other operations and maintenance
 
394
   
375
   
742
   
720
 
Depreciation and amortization
 
162
   
157
   
327
   
314
 
Taxes other than income taxes
 
90
   
95
   
203
   
186
 
Total operating expenses
 
1,274
   
1,218
   
2,878
   
2,574
 
Operating Income
 
276
   
366
   
472
   
629
 
                         
Other Income and Expenses:
                       
Miscellaneous income
 
4
   
6
   
8
   
13
 
Miscellaneous expenses
 
(1
)
 
(6
)
 
(1
)
 
(7
)
Total other income
 
3
   
-
   
7
   
6
 
                         
Interest Charges
 
80
   
77
   
156
   
151
 
                         
Income Before Income Taxes, Minority Interest
                       
and Preferred Dividends of Subsidiaries
 
199
   
289
   
323
   
484
 
                         
Income Taxes
 
68
   
100
   
112
   
171
 
                         
Income Before Minority Interest and Preferred
                       
Dividends of Subsidiaries
 
131
   
189
   
211
   
313
 
                         
Minority Interest and Preferred Dividends of Subsidiaries
 
(8
)
 
(4
)
 
(18
)
 
(7
)
                         
Net Income
$
123
 
$
185
 
$
193
 
$
306
 
                         
Earnings per Common Share - Basic and Diluted:
$
0.60
 
$
0.93
 
$
0.94
 
$
1.55
 
                         
Average Common Shares Outstanding
 
205.4
   
199.7
   
205.1
   
197.5
 
                         
 
 

 
 

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
         
         
 
Six Months Ended
 
 
June 30,
 
 
2006
 
2005
 
         
Cash Flows From Operating Activities:
       
Net income
$
193
 
$
306
 
Adjustments to reconcile net income to net cash
           
provided by operating activities:
           
Depreciation and amortization
 
311
   
272
 
Amortization of nuclear fuel
 
16
   
17
 
Amortization of debt issuance costs and premium/discounts
 
7
   
7
 
Deferred income taxes and investment tax credits, net
 
(19
)
 
66
 
Loss on sale of leveraged leases
 
4
   
-
 
Minority interest
 
12
   
1
 
Other
 
5
   
4
 
Changes in assets and liabilities:
           
Receivables, net
 
168
   
(8
)
Materials and supplies
 
25
   
46
 
Accounts and wages payable
 
(258
)
 
(163
)
Taxes accrued
 
(33
)
 
112
 
Assets, other
 
49
   
(54
)
Liabilities, other
 
10
   
1
 
Pension and other postretirement benefit obligations, net
 
46
   
54
 
Net cash provided by operating activities
 
536
   
661
 
             
             
Cash Flows From Investing Activities:
           
Capital expenditures
 
(406
)
 
(442
)
Acquisitions of combustion turbines
 
(292
)
 
-
 
Nuclear fuel expenditures
 
(25
)
 
(13
)
Proceeds from sale of leveraged leases
 
11
   
-
 
Other
 
-
   
12
 
Net cash used in investing activities
 
(712
)
 
(443
)
             
             
Cash Flows From Financing Activities:
           
Dividends on common stock
 
(260
)
 
(253
)
Capital issuance costs
 
(2
)
 
(1
)
Short-term debt, net
 
204
   
(256
)
Dividends paid to minority interest
 
(14
)
 
-
 
Redemptions, Repurchases and Maturities:
           
Long-term debt
 
(86
)
 
(237
)
Issuances:
           
Common stock
 
57
   
402
 
Long-term debt
 
232
   
85
 
Net cash provided by (used in) financing activities
 
131
   
(260
)
             
Net Change In Cash and Cash Equivalents
 
(45
)
 
(42
)
Cash and Cash Equivalents at Beginning of Year
 
96
   
69
 
             
Cash and Cash Equivalents at End of Period
$
51
 
$
27
 
             
 
 

 

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
         
 
June 30,
 
December 31,
 
 
2006
 
2005
 
         
ASSETS
       
Current Assets:
           
Cash and cash equivalents
$
51
 
$
96
 
Accounts receivable - trade
 
409
   
552
 
Unbilled revenue
 
355
   
382
 
Miscellaneous accounts and notes receivable
 
71
   
31
 
Materials and supplies, at average cost
 
549
   
572
 
Other current assets
 
110
   
185
 
Total current assets
 
1,545
   
1,818
 
Property and Plant, Net
 
13,920
   
13,572
 
Investments and Other Assets:
           
Investments in leveraged leases
 
32
   
50
 
Nuclear decommissioning trust fund
 
257
   
250
 
Goodwill
 
976
   
976
 
Intangible assets
 
250
   
246
 
Other assets
 
643
   
419
 
Regulatory assets
 
827
   
831
 
Total investments and other assets
 
2,985
   
2,772
 
             
TOTAL ASSETS
$
18,450
 
$
18,162
 
             
LIABILITIES AND STOCKHOLDERS' EQUITY
           
Current Liabilities:
           
Current maturities of long-term debt
$
124
 
$
96
 
Short-term debt
 
397
   
193
 
Accounts and wages payable
 
404
   
706
 
Taxes accrued
 
97
   
131
 
Other current liabilities
 
386
   
361
 
Total current liabilities
 
1,408
   
1,487
 
Long-term Debt, Net
 
5,705
   
5,354
 
Preferred Stock of Subsidiary Subject to Mandatory Redemption
 
19
   
19
 
Deferred Credits and Other Liabilities:
           
Accumulated deferred income taxes, net
 
1,958
   
1,969
 
Accumulated deferred investment tax credits
 
123
   
129
 
Regulatory liabilities
 
1,173
   
1,132
 
Asset retirement obligations
 
531
   
518
 
Accrued pension and other postretirement benefits
 
800
   
760
 
Other deferred credits and liabilities
 
174
   
218
 
Total deferred credits and other liabilities
 
4,759
   
4,726
 
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption
 
195
   
195
 
Minority Interest in Consolidated Subsidiaries
 
15
   
17
 
Stockholders' Equity:
           
Common stock
 
2
   
2
 
Other paid-in capital, principally premium on common stock
 
4,457
   
4,399
 
Retained earnings
 
1,932
   
1,999
 
Accumulated other comprehensive loss
 
(36
)
 
(24
)
Other
 
(6
)
 
(12
)
Total stockholders' equity
 
6,349
   
6,364
 
             
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
18,450
 
$
18,162