EX-99.2 3 exhibit99_2.htm EXHIBIT 99.2 - AMEREN CORP. STATEMENT OF INCOME, CASH FLOW AND BALANCE SHEET exhibit99_2.htm
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,
 
 
2008
   
2007
   
2008
   
2007
 
                       
Operating Revenues:
                     
Electric
$ 1,545     $ 1,519     $ 3,012     $ 2,982  
Gas
  243       209       855       770  
Total operating revenues
  1,788       1,728       3,867       3,752  
                               
Operating Expenses:
                             
Fuel
  200       263       502       526  
Coal contract settlement
  (60 )     -       (60 )     -  
Purchased power
  306       314       593       687  
Gas purchased for resale
  165       133       624       554  
Other operations and maintenance
  469       420       891       809  
Depreciation and amortization
  178       176       354       359  
Taxes other than income taxes
  89       96       202       198  
Total operating expenses
  1,347       1,402       3,106       3,133  
Operating Income
  441       326       761       619  
                               
Other Income and Expenses:
                             
Miscellaneous income
  21       20       42       34  
Miscellaneous expense
  (8 )     (8 )     (13 )     (13 )
Total other income
  13       12       29       21  
                               
Interest Charges
  118       108       218       206  
                               
Income Before Income Taxes, Minority Interest and Preferred
                             
   Dividends of Subsidiaries
  336       230       572       434  
                               
Income Taxes
  119       78       206       149  
                               
Income Before Minority Interest and Preferred Dividends of Subsidiaries
  217       152       366       285  
                               
Minority Interest and Preferred Dividends of Subsidiaries
  11       9       22       19  
                               
Net Income
$ 206     $ 143     $ 344     $ 266  
                               
Earnings per Common Share - Basic and Diluted
$ 0.98     $ 0.69     $ 1.64     $ 1.29  
                               
                               
Average Common Shares Outstanding
  209.5       207.1       209.1       206.9  


 

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
Six Months Ended
 
 
June 30,
 
 
2008
   
2007
 
Cash Flows From Operating Activities:
         
Net income
$ 344     $ 266  
Adjustments to reconcile net income to net cash provided by operating activities:
             
Gain on sales of emission allowances
  (2 )     (2 )
Mark-to-market gain on derivatives
  (94 )     (1 )
Coal contract settlement
  (60 )     -  
Depreciation and amortization
  364       357  
Amortization of nuclear fuel
  20       15  
Amortization of debt issuance costs and premium/discounts
  8       10  
Deferred income taxes and investment tax credits, net
  107       (8 )
Minority interest
  16       13  
Other
  4       7  
Changes in assets and liabilities:
             
Receivables
  15       (131 )
Materials and supplies
  16       35  
Accounts and wages payable
  (64 )     (62 )
Taxes accrued, net
  (58 )     59  
Assets, other
  32       29  
Liabilities, other
  65       19  
Pension and other postretirement benefit obligations
  15       50  
Counterparty collateral asset
  (205 )     (97 )
Counterparty collateral liability
  79       -  
Taum Sauk insurance receivable, net
  (107 )     (16 )
Net cash provided by operating activities
  495       543  
               
Cash Flows From Investing Activities:
             
Capital expenditures
  (798 )     (715 )
Nuclear fuel expenditures
  (123 )     (24 )
Purchases of securities - nuclear decommissioning trust fund
  (247 )     (75 )
Sales of securities - nuclear decommissioning trust fund
  231       65  
Purchases of emission allowances
  (2 )     (9 )
Sales of emission allowances
  2       3  
Other
  2       1  
Net cash used in investing activities
  (935 )     (754 )
               
Cash Flows From Financing Activities:
             
Dividends on common stock
  (266 )     (263 )
Capital issuance costs
  (9 )     (3 )
Short-term debt, net
  (22 )     1,007  
Dividends paid to minority interest holder
  (15 )     (10 )
Redemptions, repurchases, and maturities of long-term debt
  (808 )     (443 )
Issuances:
             
Common stock
  75       48  
Long-term debt
  1,335       425  
Net cash provided by financing activities
  290       761  
               
Net change in cash and cash equivalents
  (150 )     550  
Cash and cash equivalents at beginning of year
  355       137  
               
Cash and cash equivalents at end of period
$ 205     $ 687  

 

 


AMEREN CORPORATION (AEE)
 
CONSOLIDATED BALANCE SHEET
 
(Unaudited, in millions)
 
           
 
June 30,
   
December 31,
 
 
2008
   
2007
 
           
ASSETS
         
Current Assets:
         
Cash and cash equivalents
$ 205     $ 355  
Accounts receivable - trade, net
  529       570  
Unbilled revenue
  389       359  
Miscellaneous accounts and notes receivable
  376       280  
Materials and supplies
  719       735  
Mark-to-market derivative assets
  273       35  
Other current assets
  275       146  
Total current assets
  2,766       2,480  
Property and Plant, Net
  15,566       15,069  
Investments and Other Assets:
             
Nuclear decommissioning trust fund
  284       307  
Goodwill
  831       831  
Intangible assets
  177       198  
Regulatory assets
  1,081       1,158  
Other assets
  940       685  
Total investments and other assets
  3,313       3,179  
               
TOTAL ASSETS
$ 21,645     $ 20,728  
               
LIABILITIES AND STOCKHOLDERS' EQUITY
             
Current Liabilities:
             
Current maturities of long-term debt
$ 285     $ 221  
Short-term debt
  1,450       1,472  
Accounts and wages payable
  527       687  
Taxes accrued
  111       84  
Mark-to-market derivative liabilities
  236       24  
Other current liabilities
  469       414  
Total current liabilities
  3,078       2,902  
Long-term Debt, Net
  6,146       5,691  
Preferred Stock of Subsidiary Subject to Mandatory Redemption
  16       16  
Deferred Credits and Other Liabilities:
             
Accumulated deferred income taxes, net
  2,104       2,046  
Accumulated deferred investment tax credits
  104       109  
Regulatory liabilities
  1,437       1,240  
Asset retirement obligations
  576       562  
Accrued pension and other postretirement benefits
  758       839  
Other deferred credits and liabilities
  390       354  
Total deferred credits and other liabilities
  5,369       5,150  
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption
  195       195  
Minority Interest in Consolidated Subsidiaries
  24       22  
Stockholders' Equity:
             
Common stock
  2       2  
Other paid-in capital, principally premium on common stock
  4,693       4,604  
Retained earnings
  2,188       2,110  
Accumulated other comprehensive income (loss)
  (66 )     36  
Total stockholders' equity
  6,817       6,752  
               
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 21,645     $ 20,728