EX-99.2 3 q22018exhibit992earningsre.htm EXHIBIT 99.2 Exhibit


Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,396

 
$
1,382

 
$
2,619

 
$
2,589

Natural gas
167

 
155

 
529

 
463

Total operating revenues
1,563

 
1,537

 
3,148

 
3,052

Operating Expenses:
 
 
 
 
 
 
 
Fuel
186

 
189

 
374

 
395

Purchased power
142

 
150

 
305

 
330

Natural gas purchased for resale
51

 
41

 
222

 
171

Other operations and maintenance
439

 
431

 
870

 
849

Depreciation and amortization
238

 
222

 
472

 
443

Taxes other than income taxes
122

 
117

 
247

 
235

Total operating expenses
1,178

 
1,150

 
2,490

 
2,423

Operating Income
385

 
387

 
658

 
629

Other Income, Net
29

 
20

 
52

 
38

Interest Charges
100

 
99

 
201

 
198

Income Before Income Taxes
314

 
308

 
509

 
469

Income Taxes
74

 
114

 
116

 
171

Net Income
240

 
194

 
393

 
298

Less: Net Income Attributable to Noncontrolling Interests
1

 
1

 
3

 
3

Net Income Attributable to Ameren Common Shareholders
$
239

 
$
193

 
$
390

 
$
295

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
0.98

 
$
0.79

 
$
1.60

 
$
1.21

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
0.97

 
$
0.79

 
$
1.59

 
$
1.21

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
243.7

 
242.6

 
243.3

 
242.6

Weighted-average Common Shares Outstanding – Diluted
245.8

 
243.5

 
245.1

 
243.7






AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)

 
June 30, 2018
 
December 31, 2017
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
29

 
$
10

Accounts receivable - trade (less allowance for doubtful accounts)
560

 
445

Unbilled revenue
371

 
323

Miscellaneous accounts receivable
74

 
70

Inventories
475

 
522

Current regulatory assets
104

 
144

Other current assets
72

 
98

Total current assets
1,685

 
1,612

Property, Plant, and Equipment, Net
21,998

 
21,466

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
714

 
704

Goodwill
411

 
411

Regulatory assets
1,205

 
1,230

Other assets
626

 
522

Total investments and other assets
2,956

 
2,867

TOTAL ASSETS
$
26,639

 
$
25,945

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
847

 
$
841

Short-term debt
506

 
484

Accounts and wages payable
565

 
902

Taxes accrued
139

 
52

Interest accrued
109

 
99

Customer deposits
114

 
108

Current regulatory liabilities
133

 
128

Other current liabilities
298

 
326

Total current liabilities
2,711

 
2,940

Long-term Debt, Net
7,613

 
7,094

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
2,584

 
2,506

Accumulated deferred investment tax credits
46

 
49

Regulatory liabilities
4,540

 
4,387

Asset retirement obligations
641

 
638

Pension and other postretirement benefits
545

 
545

Other deferred credits and liabilities
431

 
460

Total deferred credits and other liabilities
8,787

 
8,585

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,576

 
5,540

Retained earnings
1,827

 
1,660

Accumulated other comprehensive loss
(19
)
 
(18
)
Total Ameren Corporation shareholders’ equity
7,386

 
7,184

Noncontrolling Interests
142

 
142

Total equity
7,528

 
7,326

TOTAL LIABILITIES AND EQUITY
$
26,639

 
$
25,945






AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Six Months Ended June 30,
 
2018
 
2017
Cash Flows From Operating Activities:
 
 
 
Net income
$
393

 
$
298

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
463

 
433

Amortization of nuclear fuel
48

 
48

Amortization of debt issuance costs and premium/discounts
11

 
11

Deferred income taxes and investment tax credits, net
81

 
175

Allowance for equity funds used during construction
(14
)
 
(10
)
Stock-based compensation costs
10

 
8

Other
11

 
(5
)
Changes in assets and liabilities
(183
)
 
(95
)
Net cash provided by operating activities
820

 
863

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,112
)
 
(998
)
Nuclear fuel expenditures
(16
)
 
(50
)
Purchases of securities – nuclear decommissioning trust fund
(129
)
 
(161
)
Sales and maturities of securities – nuclear decommissioning trust fund
122

 
152

Other
6

 
(2
)
Net cash used in investing activities
(1,129
)
 
(1,059
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(223
)
 
(214
)
Dividends paid to noncontrolling interest holders
(3
)
 
(3
)
Short-term debt, net
21

 
334

Maturities of long-term debt
(323
)
 
(425
)
Issuances of long-term debt
853

 
549

Issuances of common stock
40

 

Repurchases of common stock for stock-based compensation

 
(24
)
Employee payroll taxes related to stock-based compensation
(19
)
 
(15
)
Debt issuance costs
(9
)
 
(4
)
Other

 
(1
)
Net cash provided by financing activities
337

 
197

Net change in cash, cash equivalents, and restricted cash
28

 
1

Cash, cash equivalents, and restricted cash at beginning of year
68

 
52

Cash, cash equivalents, and restricted cash at end of period
$
96

 
$
53