EX-99.2 3 q12024ex992earningsrelease.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,
 20242023
Operating Revenues:
Electric$1,364 $1,590 
Natural gas452 472 
Total operating revenues1,816 2,062 
Operating Expenses:
Fuel and purchased power328 608 
Natural gas purchased for resale151 208 
Other operations and maintenance470 448 
Depreciation and amortization361 320 
Taxes other than income taxes135 127 
Total operating expenses1,445 1,711 
Operating Income371 351 
Other Income, Net89 78 
Interest Charges154 127 
Income Before Income Taxes306 302 
Income Taxes44 37 
Net Income262 265 
Less: Net Income Attributable to Noncontrolling Interests 1 1 
Net Income Attributable to Ameren Common Shareholders$261 $264 
Earnings per Common Share – Basic$0.98 $1.01 
Earnings per Common Share – Diluted$0.98 $1.00 
Weighted-average Common Shares Outstanding – Basic266.4 262.2 
Weighted-average Common Shares Outstanding – Diluted266.8 263.1 


AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
March 31,
2024		December 31, 2023
ASSETS
Current Assets:
Cash and cash equivalents$85 $25 
Accounts receivable - trade (less allowance for doubtful accounts)507 494 
Unbilled revenue272 319 
Miscellaneous accounts receivable82 106 
Inventories679 733 
Current regulatory assets356 365 
Other current assets103 139 
Total current assets2,084 2,181 
Property, Plant, and Equipment, Net34,114 33,776 
Investments and Other Assets:
Nuclear decommissioning trust fund1,232 1,150 
Goodwill411 411 
Regulatory assets1,904 1,810 
Pension and other postretirement benefits597 581 
Other assets964 921 
Total investments and other assets5,108 4,873 
TOTAL ASSETS$41,306 $40,830 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$1,149 $849 
Short-term debt868 536 
Accounts and wages payable647 1,136 
Customer deposits190 176 
Other current liabilities651 648 
Total current liabilities3,505 3,345 
Long-term Debt, Net15,167 15,121 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net4,251 4,176 
Regulatory liabilities5,593 5,512 
Asset retirement obligations779 772 
Other deferred credits and liabilities439 426 
Total deferred credits and other liabilities11,062 10,886 
Shareholders’ Equity:
Common stock3 3 
Other paid-in capital, principally premium on common stock7,228 7,216 
Retained earnings4,219 4,136 
Accumulated other comprehensive loss(7)(6)
Total shareholders’ equity11,443 11,349 
Noncontrolling Interests129 129 
Total equity11,572 11,478 
TOTAL LIABILITIES AND EQUITY$41,306 $40,830 


AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Three Months Ended March 31,
 20242023
Cash Flows From Operating Activities:
Net income $262 $265 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization379 350 
Amortization of nuclear fuel18 19 
Amortization of debt issuance costs and premium/discounts5 3 
Deferred income taxes and investment tax credits, net44 35 
Allowance for equity funds used during construction(9)(9)
Stock-based compensation costs8 8 
Other16 (6)
Changes in assets and liabilities(231)(169)
Net cash provided by operating activities492 496 
Cash Flows From Investing Activities:
Capital expenditures(890)(931)
Nuclear fuel expenditures(12)(20)
Purchases of securities – nuclear decommissioning trust fund(70)(29)
Sales and maturities of securities – nuclear decommissioning trust fund66 17 
Other— (1)
Net cash used in investing activities(906)(964)
Cash Flows From Financing Activities:
Dividends on common stock(178)(165)
Dividends paid to noncontrolling interest holders(1)(1)
Short-term debt, net332 179 
Issuances of long-term debt347 499 
Issuances of common stock10 5 
Employee payroll taxes related to stock-based compensation(8)(20)
Debt issuance costs(5)(5)
Other— (3)
Net cash provided by financing activities497 489 
Net change in cash, cash equivalents, and restricted cash83 21 
Cash, cash equivalents, and restricted cash at beginning of year(a)
272 216 
Cash, cash equivalents, and restricted cash at end of period(b)
$355 $237 
(a)Includes $25 million of cash and cash equivalents and $247 million of restricted cash as of December 31, 2023.
(a)Includes $85 million of cash and cash equivalents and $270 million of restricted cash as of March 31, 2024.