Ameren (AEE) 8-K Results of Operations and Financial Condition

Exhibit 99.2 

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2006			2005			2006			2005
Operating Revenues:
Electric	$	1,378		$	1,407		$	2,589		$	2,529
Gas		172			174			761			670
Other		-			3			-			4
Total operating revenues		1,550			1,584			3,350			3,203
Operating Expenses:
Fuel and purchased power		524			485			1,049			894
Gas purchased for resale		104			106			557			460
Other operations and maintenance		394			375			742			720
Depreciation and amortization		162			157			327			314
Taxes other than income taxes		90			95			203			186
Total operating expenses		1,274			1,218			2,878			2,574
Operating Income		276			366			472			629
Other Income and Expenses:
Miscellaneous income		4			6			8			13
Miscellaneous expenses		(1	)		(6	)		(1	)		(7	)
Total other income		3			-			7			6
Interest Charges		80			77			156			151
Income Before Income Taxes, Minority Interest
and Preferred Dividends of Subsidiaries		199			289			323			484
Income Taxes		68			100			112			171
Income Before Minority Interest and Preferred
Dividends of Subsidiaries		131			189			211			313
Minority Interest and Preferred Dividends of Subsidiaries		(8	)		(4	)		(18	)		(7	)
Net Income	$	123		$	185		$	193		$	306
Earnings per Common Share - Basic and Diluted:	$	0.60		$	0.93		$	0.94		$	1.55
Average Common Shares Outstanding		205.4			199.7			205.1			197.5

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Six Months Ended
	June 30,
	2006			2005
Cash Flows From Operating Activities:
Net income	$	193		$	306
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization		311			272
Amortization of nuclear fuel		16			17
Amortization of debt issuance costs and premium/discounts		7			7
Deferred income taxes and investment tax credits, net		(19	)		66
Loss on sale of leveraged leases		4			-
Minority interest		12			1
Other		5			4
Changes in assets and liabilities:
Receivables, net		168			(8	)
Materials and supplies		25			46
Accounts and wages payable		(258	)		(163	)
Taxes accrued		(33	)		112
Assets, other		49			(54	)
Liabilities, other		10			1
Pension and other postretirement benefit obligations, net		46			54
Net cash provided by operating activities		536			661
Cash Flows From Investing Activities:
Capital expenditures		(406	)		(442	)
Acquisitions of combustion turbines		(292	)		-
Nuclear fuel expenditures		(25	)		(13	)
Proceeds from sale of leveraged leases		11			-
Other		-			12
Net cash used in investing activities		(712	)		(443	)
Cash Flows From Financing Activities:
Dividends on common stock		(260	)		(253	)
Capital issuance costs		(2	)		(1	)
Short-term debt, net		204			(256	)
Dividends paid to minority interest		(14	)		-
Redemptions, Repurchases and Maturities:
Long-term debt		(86	)		(237	)
Issuances:
Common stock		57			402
Long-term debt		232			85
Net cash provided by (used in) financing activities		131			(260	)
Net Change In Cash and Cash Equivalents		(45	)		(42	)
Cash and Cash Equivalents at Beginning of Year		96			69
Cash and Cash Equivalents at End of Period	$	51		$	27

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
	June 30,			December 31,
	2006			2005
ASSETS
Current Assets:
Cash and cash equivalents	$	51		$	96
Accounts receivable - trade		409			552
Unbilled revenue		355			382
Miscellaneous accounts and notes receivable		71			31
Materials and supplies, at average cost		549			572
Other current assets		110			185
Total current assets		1,545			1,818
Property and Plant, Net		13,920			13,572
Investments and Other Assets:
Investments in leveraged leases		32			50
Nuclear decommissioning trust fund		257			250
Goodwill		976			976
Intangible assets		250			246
Other assets		643			419
Regulatory assets		827			831
Total investments and other assets		2,985			2,772
TOTAL ASSETS	$	18,450		$	18,162
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt	$	124		$	96
Short-term debt		397			193
Accounts and wages payable		404			706
Taxes accrued		97			131
Other current liabilities		386			361
Total current liabilities		1,408			1,487
Long-term Debt, Net		5,705			5,354
Preferred Stock of Subsidiary Subject to Mandatory Redemption		19			19
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		1,958			1,969
Accumulated deferred investment tax credits		123			129
Regulatory liabilities		1,173			1,132
Asset retirement obligations		531			518
Accrued pension and other postretirement benefits		800			760
Other deferred credits and liabilities		174			218
Total deferred credits and other liabilities		4,759			4,726
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption		195			195
Minority Interest in Consolidated Subsidiaries		15			17
Stockholders' Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		4,457			4,399
Retained earnings		1,932			1,999
Accumulated other comprehensive loss		(36	)		(24	)
Other		(6	)		(12	)
Total stockholders' equity		6,349			6,364
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	18,450		$	18,162