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						Year Ended
	December 31,						December 31,
	2006			2005			2006			2005
Operating Revenues:
Electric	$	1,229		$	1,174		$	5,585		$	5,431
Gas		391			526			1,295			1,345
Other		-			1			-			4
Total operating revenues		1,620			1,701			6,880			6,780
Operating Expenses:
Fuel and purchased power		496			531			2,168			2,055
Gas purchased for resale		290			407			931			957
Other operations and maintenance		419			375			1,556			1,487
Depreciation and amortization		172			160			661			632
Taxes other than income taxes		89			81			391			365
Total operating expenses		1,466			1,554			5,707			5,496
Operating Income		154			147		��	1,173			1,284
Other Income and Expenses:
Miscellaneous income		37			10			50			29
Miscellaneous expense		-			(5	)		(4	)		(12	)
Total other income		37			5			46			17
Interest Charges		112			80			350			301
Income Before Income Taxes, Minority Interest and Preferred Dividends of
Subsidiaries and Cumulative Effect of Change in Accounting Principle		79			72			869			1,000
Income Taxes		11			26			284			356
Income Before Minority Interest and Preferred Dividends of Subsidiaries
and Cumulative Effect of Change in Accounting Principle		68			46			585			644
Minority Interest and Preferred Dividends of Subsidiaries		(7	)		(4	)		(38	)		(16	)
Income Before Cumulative Effect of Change in Accounting Principle		61			42			547			628
Cumulative Effect of Change in Accounting Principle, Net of Income Taxes		-			(22	)		-			(22	)
Net Income	$	61		$	20		$	547		$	606
Earnings per Common Share - Basic and Diluted
Income before cumulative effect of change in accounting principle	$	0.30		$	0.21		$	2.66		$	3.13
Cumulative effect of change in accounting principle, net of income taxes		-			(0.11	)		-			(0.11	)
Earnings per Common Share - Basic and Diluted	$	0.30		$	0.10		$	2.66		$	3.02
Average Common Shares Outstanding		206.3			204.3			205.6			200.8

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Year Ended
	December 31,
	2006			2005
Cash Flows From Operating Activities:
Net income	$	547		$	606
Adjustments to reconcile net income to net cash provided by operating activities:
Cumulative effect of change in accounting principle		-			22
Sales of emission allowances		(60	)		(22	)
Gain on sale of non-core properties		(37	)		(22	)
Depreciation and amortization		699			700
Amortization of nuclear fuel		36			28
Amortization of debt issuance costs and premium/discounts		15			15
Amortization of power supply contract		(43	)		(44	)
Deferred income taxes and investment tax credits, net		91			59
Minority interest		27			3
Other		13			(3	)
Changes in assets and liabilities, excluding the effects of the acquisition:
Receivables, net		91			(160	)
Materials and supplies		(75	)		(75	)
Accounts and wages payable		(93	)		129
Taxes accrued		(72	)		107
Assets, other		(103	)		(77	)
Liabilities, other		138			(37	)
Pension and other postretirement obligations, net		97			22
Net cash provided by operating activities		1,271			1,251
Cash Flows From Investing Activities:
Capital expenditures		(984	)		(935	)
CT acquisitions		(292	)		-
Proceeds from sale of non-core properties		56			54
Acquisitions, net of cash acquired		-			12
Nuclear fuel expenditures		(39	)		(17	)
Bond repurchase		(17	)		-
Purchases of securities - Nuclear Decommissioning Trust Fund		(110	)		(111	)
Sales of securities - Nuclear Decommissioning Trust Fund		98			99
Purchases of emission allowances		(42	)		(92	)
Sales of emission allowances		71			22
Other		1			7
Net cash used in investing activities		(1,258	)		(961	)
Cash Flows From Financing Activities:
Dividends on common stock		(522	)		(511	)
Capital issuance costs		(4	)		(6	)
Short-term debt, net		94			(224	)
Dividends paid to minority interest		(28	)		-
Redemptions, Repurchases and Maturities:
Long-term debt		(164	)		(618	)
Payments on credit facility		(807	)		-
Preferred stock		(1	)		(1	)
Issuances:
Common stock		96			454
Long-term debt		232			643
Borrowings from credit facility		1,132			-
Net cash provided by (used in) financing activities		28			(263	)
Net Change In Cash and Cash Equivalents		41			27
Cash and Cash Equivalents at Beginning of Year		96			69
Cash and Cash Equivalents at End of Year	$	137		$	96

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
		December 31,		December 31,
		2006		2005
ASSETS
Current Assets:
Cash and cash equivalents	$	137	$	96
Accounts receivable - trade		418		552
Unbilled revenue		309		382
Miscellaneous accounts and notes receivable		160		31
Materials and supplies, at average cost		647		572
Other current assets		203		185
Total current assets		1,874		1,818
Property and Plant, Net		14,286		13,581
Investments and Other Assets:
Investments in leveraged leases		13		50
Nuclear decommissioning trust fund		285		250
Goodwill		830		976
Intangible Assets		217		323
Other assets		642		342
Regulatory assets		1,431		831
Total investments and other assets		3,418		2,772
TOTAL ASSETS	$	19,578	$	18,171
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt	$	456	$	96
Short-term debt		287		193
Accounts and wages payable		671		706
Taxes accrued		58		131
Other current liabilities		405		361
Total current liabilities		1,877		1,487
Long-term Debt, Net		5,610		5,354
Preferred Stock of Subsidiary Subject to Mandatory Redemption		18		19
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,172		1,969
Accumulated deferred investment tax credits		118		129
Regulatory liabilities		1,208		1,141
Asset retirement obligations		549		518
Accrued pension and other postretirement benefits		1,065		760
Other deferred credits and liabilities		169		218
Total deferred credits and other liabilities		5,281		4,735
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption		195		195
Minority Interest in Consolidated Subsidiaries		16		17
Stockholders' Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		4,495		4,399
Retained earnings		2,024		1,999
Accumulated other comprehensive loss		60		(24	)
Other		-		(12	)
Total stockholders' equity		6,581		6,364
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	19,578	$	18,171