EX-99.2 3 ex99_2.htm EXHIBIT 99.2 AMEREN FINANCIAL STATEMENTS Exhibit 99.2 Ameren Financial Statements
Exhibit 99.2
AMEREN CORPORATION (AEE)
  
CONSOLIDATED STATEMENT OF INCOME
 
(Unaudited, in millions, except per share amounts)
  
                 
                 
                 
 
Three Months Ended
  
Year Ended
  
 
December 31,
  
December 31,
  
 
2006
 
2005
 
2006
 
2005
 
                 
Operating Revenues:
                        
Electric
$
1,229
  
$
1,174
  
$
5,585
  
$
5,431
  
Gas
  
391
   
526
   
1,295
   
1,345
 
Other
  
-
   
1
   
-
   
4
 
Total operating revenues
  
1,620
   
1,701
   
6,880
   
6,780
 
                         
Operating Expenses:
                        
Fuel and purchased power
  
496
   
531
   
2,168
   
2,055
 
Gas purchased for resale
  
290
   
407
   
931
   
957
 
Other operations and maintenance
  
419
   
375
   
1,556
   
1,487
 
Depreciation and amortization
  
172
   
160
   
661
   
632
 
Taxes other than income taxes
  
89
   
81
   
391
   
365
 
Total operating expenses
  
1,466
   
1,554
   
5,707
   
5,496
 
Operating Income
  
154
   
147
   
1,173
   
1,284
 
                         
Other Income and Expenses:
                        
Miscellaneous income
  
37
   
10
   
50
   
29
 
Miscellaneous expense
  
-
   
(5
)
  
(4
)
  
(12
)
Total other income
  
37
   
5
   
46
   
17
 
                         
Interest Charges
  
112
   
80
   
350
   
301
 
                         
Income Before Income Taxes, Minority Interest and Preferred Dividends of
                        
Subsidiaries and Cumulative Effect of Change in Accounting Principle
  
79
   
72
   
869
   
1,000
 
                         
Income Taxes
  
11
   
26
   
284
   
356
 
                         
Income Before Minority Interest and Preferred Dividends of Subsidiaries
                        
and Cumulative Effect of Change in Accounting Principle
  
68
   
46
   
585
   
644
 
                         
Minority Interest and Preferred Dividends of Subsidiaries
  
(7
)
  
(4
)
  
(38
)
  
(16
)
                         
Income Before Cumulative Effect of Change in Accounting Principle
  
61
   
42
   
547
   
628
 
                         
Cumulative Effect of Change in Accounting Principle, Net of Income Taxes
  
-
   
(22
)
  
-
   
(22
)
                         
Net Income
$
61
  
$
20
  
$
547
  
$
606
  
                         
Earnings per Common Share - Basic and Diluted
                        
Income before cumulative effect of change in accounting principle
$
0.30
  
$
0.21
  
$
2.66
  
$
3.13
  
Cumulative effect of change in accounting principle, net of income taxes
 
-
   
(0.11
)
  
-
   
(0.11
)
                         
Earnings per Common Share - Basic and Diluted
$
0.30
  
$
0.10
  
$
2.66
  
$
3.02
  
                         
                         
Average Common Shares Outstanding
  
206.3
   
204.3
   
205.6
   
200.8
 
                         

 
 
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
 
(Unaudited, in millions)
  
 
Year Ended
  
 
December 31,
  
 
2006
 
2005
 
Cash Flows From Operating Activities:
            
Net income
$
547
  
$
606
  
Adjustments to reconcile net income to net cash provided by operating activities:
            
Cumulative effect of change in accounting principle
  
-
   
22
 
Sales of emission allowances
  
(60
)
  
(22
)
Gain on sale of non-core properties
  
(37
)
  
(22
)
Depreciation and amortization
  
699
   
700
 
Amortization of nuclear fuel
  
36
   
28
 
Amortization of debt issuance costs and premium/discounts
  
15
   
15
 
Amortization of power supply contract
   (43 )   (44 )
Deferred income taxes and investment tax credits, net
  
91
   
59
 
Minority interest
  
27
   
3
 
Other
 
13
   
(3
)
Changes in assets and liabilities, excluding the effects of the acquisition:
            
Receivables, net
  
91
   
(160
)
Materials and supplies
  
(75
)
  
(75
)
Accounts and wages payable
  
(93
)
  
129
 
Taxes accrued
  
(72
)
  
107
 
Assets, other
 
(103
)
  
(77
)
Liabilities, other
  
138
   
(37
)
Pension and other postretirement obligations, net
  
97
   
22
 
Net cash provided by operating activities
  
1,271
   
1,251
 
             
Cash Flows From Investing Activities:
            
Capital expenditures
  
(984
)
  
(935
)
CT acquisitions
  
(292
)
  
-
 
Proceeds from sale of non-core properties
  
56
   
54
 
Acquisitions, net of cash acquired
  
-
   
12
 
Nuclear fuel expenditures
  
(39
)
  
(17
)
Bond repurchase
  
(17
)
  
-
 
Purchases of securities - Nuclear Decommissioning Trust Fund
  
(110
)
  
(111
)
Sales of securities - Nuclear Decommissioning Trust Fund
  
98
   
99
 
Purchases of emission allowances
  
(42
)
  
(92
)
Sales of emission allowances
  
71
   
22
 
Other
  
1
   
7
 
Net cash used in investing activities
  
(1,258
)
  
(961
)
             
Cash Flows From Financing Activities:
            
Dividends on common stock
  
(522
)
  
(511
)
Capital issuance costs
  
(4
)
  
(6
)
Short-term debt, net
  
94
   
(224
)
Dividends paid to minority interest
  
(28
)
  
-
 
Redemptions, Repurchases and Maturities:
            
Long-term debt
  
(164
)
  
(618
)
Payments on credit facility
  
(807
)
  
-
 
Preferred stock
  
(1
)
  
(1
)
Issuances:
            
Common stock
  
96
   
454
 
Long-term debt
  
232
   
643
 
Borrowings from credit facility
  
1,132
   
-
 
Net cash provided by (used in) financing activities
  
28
   
(263
)
             
Net Change In Cash and Cash Equivalents
  
41
   
27
 
Cash and Cash Equivalents at Beginning of Year
  
96
   
69
 
             
Cash and Cash Equivalents at End of Year
$
137
  
$
96
  
 

 

AMEREN CORPORATION (AEE)
  
CONSOLIDATED BALANCE SHEET
 
(Unaudited, in millions)
  
             
 
December 31, 
    
December 31,
  
   
2006
   
2005
 
             
ASSETS
            
Current Assets:
            
Cash and cash equivalents
$
137
  
$
96
  
Accounts receivable - trade
 
418
   
552
 
Unbilled revenue
  
309
   
382
 
Miscellaneous accounts and notes receivable
  
160
   
31
 
Materials and supplies, at average cost
 
647
   
572
 
Other current assets
  
203
   
185
 
Total current assets
  
1,874
   
1,818
 
Property and Plant, Net
  
14,286
   
13,581
 
Investments and Other Assets:
            
Investments in leveraged leases
  
13
   
50
 
Nuclear decommissioning trust fund
  
285
   
250
 
Goodwill
 
830
   
976
 
Intangible Assets
  
217
   
323
 
Other assets
  
642
   
342
 
Regulatory assets
  
1,431
   
831
 
Total investments and other assets
  
3,418
   
2,772
 
             
TOTAL ASSETS
$
19,578
  
$
18,171
  
             
LIABILITIES AND STOCKHOLDERS' EQUITY
            
Current Liabilities:
            
Current maturities of long-term debt
$
456
  
$
96
  
Short-term debt
  
287
   
193
 
Accounts and wages payable
  
671
   
706
 
Taxes accrued
  
58
   
131
 
Other current liabilities
  
405
   
361
 
Total current liabilities
  
1,877
   
1,487
 
Long-term Debt, Net
  
5,610
   
5,354
 
Preferred Stock of Subsidiary Subject to Mandatory Redemption
  
18
   
19
 
Deferred Credits and Other Liabilities:
            
Accumulated deferred income taxes, net
  
2,172
   
1,969
 
Accumulated deferred investment tax credits
  
118
   
129
 
Regulatory liabilities
  
1,208
   
1,141
 
Asset retirement obligations
  
549
   
518
 
Accrued pension and other postretirement benefits
  
1,065
   
760
 
Other deferred credits and liabilities
  
169
   
218
 
Total deferred credits and other liabilities
  
5,281
   
4,735
 
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption
  
195
   
195
 
Minority Interest in Consolidated Subsidiaries
  
16
   
17
 
Stockholders' Equity:
            
Common stock
 
2
   
2
 
Other paid-in capital, principally premium on common stock
  
4,495
   
4,399
 
Retained earnings
  
2,024
   
1,999
 
Accumulated other comprehensive loss
  
60
   
(24
)
Other
  
-
   
(12
)
Total stockholders' equity
  
6,581
   
6,364
 
             
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
19,578
  
$
18,171