EX-99.2 3 q12023ex992earningsrelease.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 March 31,
 20232022
Operating Revenues:
Electric$1,590 $1,318 
Natural gas472 561 
Total operating revenues2,062 1,879 
Operating Expenses:
Fuel113 176 
Purchased power495 177 
Natural gas purchased for resale208 293 
Other operations and maintenance448 461 
Depreciation and amortization320 299 
Taxes other than income taxes127 142 
Total operating expenses1,711 1,548 
Operating Income351 331 
Other Income, Net78 60 
Interest Charges127 104 
Income Before Income Taxes302 287 
Income Taxes37 34 
Net Income265 253 
Less: Net Income Attributable to Noncontrolling Interests 1 
Net Income Attributable to Ameren Common Shareholders$264 $252 
Earnings per Common Share – Basic$1.01 $0.98 
Earnings per Common Share – Diluted$1.00 $0.97 
Weighted-average Common Shares Outstanding – Basic262.2 257.9 
Weighted-average Common Shares Outstanding – Diluted263.1 259.0 



AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
March 31,
2023
December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents$10 $10 
Accounts receivable - trade (less allowance for doubtful accounts)625 600 
Unbilled revenue299 446 
Miscellaneous accounts receivable62 54 
Inventories630 667 
Current regulatory assets292 354 
Investment in industrial development revenue bonds 240 
Current collateral assets29 142 
Other current assets115 155 
Total current assets2,062 2,668 
Property, Plant, and Equipment, Net31,735 31,262 
Investments and Other Assets:
Nuclear decommissioning trust fund1,019 958 
Goodwill411 411 
Regulatory assets1,599 1,426 
Pension and other postretirement benefits423 411 
Other assets815 768 
Total investments and other assets4,267 3,974 
TOTAL ASSETS$38,064 $37,904 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$100 $340 
Short-term debt1,248 1,070 
Accounts and wages payable664 1,159 
Other current liabilities745 797 
Total current liabilities2,757 3,366 
Long-term Debt, Net14,181 13,685 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net3,856 3,804 
Regulatory liabilities5,395 5,309 
Asset retirement obligations769 763 
Other deferred credits and liabilities370 340 
Total deferred credits and other liabilities10,390 10,216 
Shareholders’ Equity:
Common stock3 
Other paid-in capital, principally premium on common stock6,861 6,860 
Retained earnings3,745 3,646 
Accumulated other comprehensive loss(2)(1)
Total shareholders’ equity10,607 10,508 
Noncontrolling Interests129 129 
Total equity10,736 10,637 
TOTAL LIABILITIES AND EQUITY$38,064 $37,904 



AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Three Months Ended March 31,
 20232022
Cash Flows From Operating Activities:
Net income $265 $253 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization350 324 
Amortization of nuclear fuel19 22 
Amortization of debt issuance costs and premium/discounts3 
Deferred income taxes and investment tax credits, net35 31 
Allowance for equity funds used during construction(9)(8)
Stock-based compensation costs8 
Other(6)11 
Changes in assets and liabilities(169)(253)
Net cash provided by operating activities496 388 
Cash Flows From Investing Activities:
Capital expenditures(931)(774)
Nuclear fuel expenditures(20)(16)
Purchases of securities – nuclear decommissioning trust fund(29)(97)
Sales and maturities of securities – nuclear decommissioning trust fund17 92 
Other(1)15 
Net cash used in investing activities(964)(780)
Cash Flows From Financing Activities:
Dividends on common stock(165)(152)
Dividends paid to noncontrolling interest holders(1)(1)
Short-term debt, net179 555 
Issuances of long-term debt499 — 
Issuances of common stock5 
Employee payroll taxes related to stock-based compensation(20)(16)
Debt issuance costs(5)— 
Other(3)— 
Net cash provided by financing activities489 391 
Net change in cash, cash equivalents, and restricted cash21 (1)
Cash, cash equivalents, and restricted cash at beginning of year216 155 
Cash, cash equivalents, and restricted cash at end of period$237 $154