EX-99.2 3 q22019exhibit992earningsre.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,
 
2019
 
2018
 
2019
 
2018
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,218

 
$
1,396

 
$
2,400

 
$
2,619

Natural gas
161

 
167

 
535

 
529

Total operating revenues
1,379

 
1,563

 
2,935

 
3,148

Operating Expenses:
 
 
 
 
 
 
 
Fuel
102

 
186

 
262

 
374

Purchased power
136

 
142

 
292

 
305

Natural gas purchased for resale
44

 
51

 
205

 
222

Other operations and maintenance
450

 
439

 
867

 
870

Depreciation and amortization
249

 
238

 
497

 
472

Taxes other than income taxes
118

 
122

 
244

 
247

Total operating expenses
1,099

 
1,178

 
2,367

 
2,490

Operating Income
280

 
385

 
568

 
658

Other Income, Net
36

 
29

 
65

 
52

Interest Charges
97

 
100

 
194

 
201

Income Before Income Taxes
219

 
314

 
439

 
509

Income Taxes
39

 
74

 
66

 
116

Net Income
180

 
240

 
373

 
393

Less: Net Income Attributable to Noncontrolling Interests
1

 
1

 
3

 
3

Net Income Attributable to Ameren Common Shareholders
$
179

 
$
239

 
$
370

 
$
390

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
0.73

 
$
0.98

 
$
1.51

 
$
1.60

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
0.72

 
$
0.97

 
$
1.50

 
$
1.59

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
245.6

 
243.7

 
245.3

 
243.3

Weighted-average Common Shares Outstanding – Diluted
247.2

 
245.8

 
246.8

 
245.1






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

 
June 30,
2019
 
December 31, 2018
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
6

 
$
16

Accounts receivable - trade (less allowance for doubtful accounts)
461

 
463

Unbilled revenue
326

 
295

Miscellaneous accounts receivable
91

 
79

Inventories
433

 
483

Current regulatory assets
107

 
134

Other current assets
90

 
63

Total current assets
1,514

 
1,533

Property, Plant, and Equipment, Net
23,479

 
22,810

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
783

 
684

Goodwill
411

 
411

Regulatory assets
1,175

 
1,127

Other assets
741

 
650

Total investments and other assets
3,110

 
2,872

TOTAL ASSETS
$
28,103

 
$
27,215

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
336

 
$
580

Short-term debt
999

 
597

Accounts and wages payable
593

 
817

Current regulatory liabilities
156

 
149

Other current liabilities
668

 
544

Total current liabilities
2,752

 
2,687

Long-term Debt, Net
8,222

 
7,859

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes and investment tax credits, net
2,758

 
2,666

Regulatory liabilities
4,768

 
4,637

Asset retirement obligations
667

 
627

Pension and other postretirement benefits
539

 
558

Other deferred credits and liabilities
464

 
408

Total deferred credits and other liabilities
9,196

 
8,896

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,649

 
5,627

Retained earnings
2,161

 
2,024

Accumulated other comprehensive loss
(21
)
 
(22
)
Total Ameren Corporation shareholders’ equity
7,791

 
7,631

Noncontrolling Interests
142

 
142

Total equity
7,933

 
7,773

TOTAL LIABILITIES AND EQUITY
$
28,103

 
$
27,215






AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Six Months Ended June 30,
 
2019
 
2018
Cash Flows From Operating Activities:
 
 
 
Net income
$
373

 
$
393

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
494

 
463

Amortization of nuclear fuel
33

 
48

Amortization of debt issuance costs and premium/discounts
9

 
11

Deferred income taxes and investment tax credits, net
54

 
81

Allowance for equity funds used during construction
(13
)
 
(14
)
Stock-based compensation costs
10

 
10

Other
(5
)
 
11

Changes in assets and liabilities
(76
)
 
(183
)
Net cash provided by operating activities
879

 
820

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,125
)
 
(1,112
)
Nuclear fuel expenditures
(25
)
 
(16
)
Purchases of securities – nuclear decommissioning trust fund
(96
)
 
(129
)
Sales and maturities of securities – nuclear decommissioning trust fund
95

 
122

Purchase of bonds
(97
)
 

Proceeds from sale of remarketed bonds
97

 

Other
(3
)
 
6

Net cash used in investing activities
(1,154
)
 
(1,129
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(233
)
 
(223
)
Dividends paid to noncontrolling interest holders
(3
)
 
(3
)
Short-term debt, net
401

 
21

Maturities of long-term debt
(329
)
 
(323
)
Issuances of long-term debt
450

 
853

Issuances of common stock
37

 
40

Employee payroll taxes related to stock-based compensation
(29
)
 
(19
)
Debt issuance costs
(4
)
 
(9
)
Net cash provided by financing activities
290

 
337

Net change in cash, cash equivalents, and restricted cash
15

 
28

Cash, cash equivalents, and restricted cash at beginning of year
107

 
68

Cash, cash equivalents, and restricted cash at end of period
$
122

 
$
96