EX-99.2 3 q32022ex992earningsrelease.htm EX-99.2 Document

Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Operating Revenues:
Electric$2,140 $1,668 $4,971 $4,108 
Natural gas166 143 940 741 
Total operating revenues2,306 1,811 5,911 4,849 
Operating Expenses:
Fuel117 184 376 422 
Purchased power563 159 1,058 479 
Natural gas purchased for resale58 45 431 275 
Other operations and maintenance475 457 1,427 1,289 
Depreciation and amortization350 290 965 856 
Taxes other than income taxes144 142 415 392 
Total operating expenses1,707 1,277 4,672 3,713 
Operating Income599 534 1,239 1,136 
Other Income, Net58 56 180 151 
Interest Charges126 94 356 290 
Income Before Income Taxes531 496 1,063 997 
Income Taxes78 70 148 128 
Net Income453 426 915 869 
Less: Net Income Attributable to Noncontrolling Interests 1 4 
Net Income Attributable to Ameren Common Shareholders$452 $425 $911 $865 
Earnings per Common Share – Basic$1.75 $1.66 $3.53 $3.38 
Earnings per Common Share – Diluted$1.74 $1.65 $3.51 $3.36 
Weighted-average Common Shares Outstanding – Basic258.4 257.3 258.2 255.9 
Weighted-average Common Shares Outstanding – Diluted259.5 258.6 259.3 257.2 



AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
September 30,
2022
December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents$7 $
Accounts receivable - trade (less allowance for doubtful accounts)665 434 
Unbilled revenue366 301 
Miscellaneous accounts receivable62 85 
Inventories695 592 
Current regulatory assets346 319 
Current collateral assets145 66 
Other current assets232 163 
Total current assets2,518 1,968 
Property, Plant, and Equipment, Net30,608 29,261 
Investments and Other Assets:
Nuclear decommissioning trust fund910 1,159 
Goodwill411 411 
Regulatory assets1,405 1,289 
Pension and other postretirement benefits813 756 
Other assets992 891 
Total investments and other assets4,531 4,506 
TOTAL ASSETS$37,657 $35,735 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$155 $505 
Short-term debt1,221 545 
Accounts and wages payable820 1,095 
Taxes accrued216 74 
Current regulatory liabilities179 113 
Other current liabilities584 494 
Total current liabilities3,175 2,826 
Long-term Debt, Net13,577 12,562 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net3,785 3,499 
Regulatory liabilities5,658 5,848 
Asset retirement obligations771 757 
Other deferred credits and liabilities361 414 
Total deferred credits and other liabilities10,575 10,518 
Shareholders’ Equity:
Common stock3 
Other paid-in capital, principally premium on common stock6,548 6,502 
Retained earnings3,636 3,182 
Accumulated other comprehensive income14 13 
Total shareholders’ equity10,201 9,700 
Noncontrolling Interests129 129 
Total equity10,330 9,829 
TOTAL LIABILITIES AND EQUITY$37,657 $35,735 



AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Nine Months Ended September 30,
 20222021
Cash Flows From Operating Activities:
Net income $915 $869 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,016 903 
Amortization of nuclear fuel46 37 
Amortization of debt issuance costs and premium/discounts17 17 
Deferred income taxes and investment tax credits, net137 139 
Allowance for equity funds used during construction(31)(30)
Stock-based compensation costs18 17 
Other63 11 
Changes in assets and liabilities(582)(771)
Net cash provided by operating activities1,599 1,192 
Cash Flows From Investing Activities:
Capital expenditures(2,437)(2,613)
Nuclear fuel expenditures(22)(19)
Purchases of securities – nuclear decommissioning trust fund(176)(411)
Sales and maturities of securities – nuclear decommissioning trust fund163 404 
Other14 (7)
Net cash used in investing activities(2,458)(2,646)
Cash Flows From Financing Activities:
Dividends on common stock(457)(423)
Dividends paid to noncontrolling interest holders(4)(4)
Short-term debt, net675 63 
Maturities of long-term debt(450)— 
Issuances of long-term debt1,118 1,423 
Issuances of common stock29 297 
Redemptions of Ameren Illinois preferred stock (13)
Employee payroll taxes related to stock-based compensation(16)(17)
Debt issuance costs(11)(15)
Other (13)
Net cash provided by financing activities884 1,298 
Net change in cash, cash equivalents, and restricted cash25 (156)
Cash, cash equivalents, and restricted cash at beginning of year155 301 
Cash, cash equivalents, and restricted cash at end of period$180 $145