EX-99.2 3 q22023ex992earningsrelease.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 June 30,Six Months Ended June 30,
 2023202220232022
Operating Revenues:
Electric$1,585 $1,513 $3,175 $2,831 
Natural gas175 213 647 774 
Total operating revenues1,760 1,726 3,822 3,605 
Operating Expenses:
Fuel152 83 265 259 
Purchased power328 318 823 495 
Natural gas purchased for resale42 80 250 373 
Other operations and maintenance450 491 898 952 
Depreciation and amortization335 316 655 615 
Taxes other than income taxes124 129 251 271 
Total operating expenses1,431 1,417 3,142 2,965 
Operating Income329 309 680 640 
Other Income, Net82 62 160 122 
Interest Charges134 126 261 230 
Income Before Income Taxes277 245 579 532 
Income Taxes38 36 75 70 
Net Income239 209 504 462 
Less: Net Income Attributable to Noncontrolling Interests 2 3 
Net Income Attributable to Ameren Common Shareholders$237 $207 $501 $459 
Earnings per Common Share – Basic$0.90 $0.80 $1.91 $1.78 
Earnings per Common Share – Diluted$0.90 $0.80 $1.90 $1.77 
Weighted-average Common Shares Outstanding – Basic262.6 258.2 262.4 258.0 
Weighted-average Common Shares Outstanding – Diluted263.2 259.4 263.2 259.2 



AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
June 30,
2023
December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents$7 $10 
Accounts receivable - trade (less allowance for doubtful accounts)482 600 
Unbilled revenue378 446 
Miscellaneous accounts receivable63 54 
Inventories711 667 
Current regulatory assets239 354 
Investment in industrial development revenue bonds 240 
Current collateral assets20 142 
Other current assets119 155 
Total current assets2,019 2,668 
Property, Plant, and Equipment, Net32,351 31,262 
Investments and Other Assets:
Nuclear decommissioning trust fund1,075 958 
Goodwill411 411 
Regulatory assets1,790 1,426 
Pension and other postretirement benefits442 411 
Other assets859 768 
Total investments and other assets4,577 3,974 
TOTAL ASSETS$38,947 $37,904 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$350 $340 
Short-term debt1,329 1,070 
Accounts and wages payable719 1,159 
Other current liabilities845 797 
Total current liabilities3,243 3,366 
Long-term Debt, Net14,328 13,685 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net3,913 3,804 
Regulatory liabilities5,445 5,309 
Asset retirement obligations775 763 
Other deferred credits and liabilities417 340 
Total deferred credits and other liabilities10,550 10,216 
Shareholders’ Equity:
Common stock3 
Other paid-in capital, principally premium on common stock6,880 6,860 
Retained earnings3,817 3,646 
Accumulated other comprehensive loss(3)(1)
Total shareholders’ equity10,697 10,508 
Noncontrolling Interests129 129 
Total equity10,826 10,637 
TOTAL LIABILITIES AND EQUITY$38,947 $37,904 



AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Six Months Ended June 30,
 20232022
Cash Flows From Operating Activities:
Net income $504 $462 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization703 665 
Amortization of nuclear fuel36 28 
Amortization of debt issuance costs and premium/discounts8 12 
Deferred income taxes and investment tax credits, net66 66 
Allowance for equity funds used during construction(23)(19)
Stock-based compensation costs14 12 
Other(19)33 
Changes in assets and liabilities(178)(387)
Net cash provided by operating activities1,111 872 
Cash Flows From Investing Activities:
Capital expenditures(1,822)(1,538)
Nuclear fuel expenditures(50)(22)
Purchases of securities – nuclear decommissioning trust fund(81)(122)
Sales and maturities of securities – nuclear decommissioning trust fund65 114 
Other(1)16 
Net cash used in investing activities(1,889)(1,552)
Cash Flows From Financing Activities:
Dividends on common stock(330)(305)
Dividends paid to noncontrolling interest holders(3)(3)
Short-term debt, net260 475 
Maturities of long-term debt(100)— 
Issuances of long-term debt997 524 
Issuances of common stock16 17 
Employee payroll taxes related to stock-based compensation(20)(16)
Debt issuance costs(9)(6)
Other(3)— 
Net cash provided by financing activities808 686 
Net change in cash, cash equivalents, and restricted cash30 
Cash, cash equivalents, and restricted cash at beginning of year216 155 
Cash, cash equivalents, and restricted cash at end of period$246 $161