Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule Of Effective Income Tax Rate Reconciliation

The following table presents the principal reasons for the difference between the effective income tax rate and the federal statutory corporate income tax rate for the years ended December 31, 2020, 2019, and 2018:


	Ameren Missouri		Ameren Illinois		Ameren
2020
Federal statutory corporate income tax rate	21	%	21	%	21	%
Increases (decreases) from:
Amortization of excess deferred income taxes	(16)		(3)		(9)

Amortization of deferred investment tax credit	(1)		(1)		(1)
State tax	3		7		5




Stock-based compensation	—		—		(1)
Effective income tax rate	7	%	24	%	15	%
2019
Federal statutory corporate income tax rate	21	%	21	%	21	%
Increases (decreases) from:
Amortization of excess deferred income taxes	(11)		(4)		(7)

Amortization of deferred investment tax credit	(1)		—		(1)
State tax	5		7		6

Stock-based compensation	—		—		(1)




Effective income tax rate	14	%	24	%	18	%
2018
Federal statutory corporate income tax rate	21	%	21	%	21	%
Increases (decreases) from:
Amortization of excess deferred income taxes	(4)		(4)		(4)
Depreciation differences	—		(1)		—
Amortization of deferred investment tax credit	(1)		—		(1)
State tax	4		7		6
TCJA	1		1		1



Tax credits	(1)		—		—
Other permanent items	—		—		(1)
Effective income tax rate	20	%	24	%	22	%

Schedule Of Components Of Income Tax Expense (Benefit)

The following table presents the components of income tax expense for the years ended December 31, 2020, 2019, and 2018:


	Ameren Missouri		Ameren Illinois		Other		Ameren
2020
Current taxes:
Federal	$	14	$	12	$	(24)	$	2
State	3		(6)		8		5
Deferred taxes:
Federal	82		81		24		187
State	15		52		(10)		57
Amortization of excess deferred income taxes	(75)		(15)		(1)		(91)
Amortization of deferred investment tax credits	(5)		—		—		(5)
Total income tax expense	$	34	$	124	$	(3)	$	155
2019
Current taxes:
Federal	$	65	$	19	$	(88)	$	(4)
State	22		11		(14)		19
Deferred taxes:
Federal	37		66		82		185
State	5		29		25		59
Amortization of excess deferred income taxes	(56)		(15)		(1)		(72)
Amortization of deferred investment tax credits	(5)		—		—		(5)
Total income tax expense	$	68	$	110	$	4	$	182
2018
Current taxes:
Federal	$	104	$	4	$	(118)	$	(10)
State	29		6		(12)		23
Deferred taxes:
Federal	22		75		123		220
State	(2)		28		23		49
Amortization of excess deferred income taxes	(24)		(15)		(1)		(40)
Amortization of deferred investment tax credits	(5)		—		—		(5)
Total income tax expense	$	124	$	98	$	15	$	237

Schedule Of Deferred Tax Assets And Liabilities Resulting From Temporary Differences

The following table presents the accumulated deferred income tax assets and liabilities recorded as a result of temporary differences and accumulated deferred investment tax credits at December 31, 2020 and 2019:


	Ameren Missouri		Ameren Illinois		Other		Ameren
2020
Accumulated deferred income taxes, net liability (asset):
Plant-related	$	2,112	$	1,559	$	205	$	3,876


Regulatory assets and liabilities, net	(285)		(207)		(23)		(515)
Deferred employee benefit costs	(58)		8		(54)		(104)

Tax carryforwards	(26)		(6)		(65)		(97)
Other	(35)		13		39		17
Total net accumulated deferred income tax liabilities (assets)	1,708		1,367		102		3,177
Accumulated deferred investment tax credits	34		—		—		34
Accumulated deferred income taxes and investment tax credits	$	1,742	$	1,367	$	102	$	3,211
2019
Accumulated deferred income taxes, net liability (asset):
Plant-related	$	2,000	$	1,423	$	193	$	3,616


Regulatory assets and liabilities, net	(310)		(214)		(24)		(548)
Deferred employee benefit costs	(59)		7		(59)		(111)

Tax carryforwards	(25)		(3)		(70)		(98)
Other	(33)		11		43		21
Total net accumulated deferred income tax liabilities (assets)	1,573		1,224		83		2,880
Accumulated deferred investment tax credits	39		—		—		39
Accumulated deferred income taxes and investment tax credits	$	1,612	$	1,224	$	83	$	2,919

Schedule Of Net Operating Loss Carryforwards And Tax Credit Carryforwards

The following table presents the components of accumulated deferred income tax assets relating to net operating loss carryforwards, tax credit carryforwards, and charitable contribution carryforwards at December 31, 2020 and 2019:


	Ameren Missouri		Ameren Illinois		Other		Ameren
2020
Net operating loss carryforwards:

State(a)	$	—	$	3	$	4	$	7
Total net operating loss carryforwards	$	—	$	3	$	4	$	7
Tax credit carryforwards:
Federal(b)	$	26	$	3	$	54	$	83
State(c)	—		—		7		7

Total tax credit carryforwards	$	26	$	3	$	61	$	90
Charitable contribution carryforwards(c)	$	—	$	—	$	3	$	3
Valuation allowance(d)	—		—		(3)		(3)
Total charitable contribution carryforwards	$	—	$	—	$	—	$	—
2019




Tax credit carryforwards:
Federal	$	25	$	3	$	67	$	95
State	—		—		3		3

Total tax credit carryforwards	$	25	$	3	$	70	$	98
Charitable contribution carryforwards	$	—	$	—	$	3	$	3
Valuation allowance	—		—		(3)		(3)
Total charitable contribution carryforwards	$	—	$	—	$	—	$	—

(a)Will expire 2032.

(b)Will expire between 2030 and 2040.

(c)Will expire between 2021 and 2025.

(d)See Schedule II under Part IV, Item 15, in this report for information on changes in the valuation allowance.