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,
	2007		2006		2007			2006
Operating Revenues:
Electric	$	1,423	$	1,229	$	6,267		$	5,585
Gas		384		391		1,279			1,295
Total operating revenues		1,807		1,620		7,546			6,880
Operating Expenses:
Fuel		303		242		1,167			1,018
Purchased power		281		254		1,387			1,150
Gas purchased for resale		278		290		900			931
Other operations and maintenance		439		415		1,688			1,556
Depreciation and amortization		167		176		681			661
Taxes other than income taxes		86		89		381			391
Total operating expenses		1,554		1,466		6,204			5,707
Operating Income		253		154		1,342			1,173
Other Income and Expenses:
Miscellaneous income		23		21		77			50
Miscellaneous expense		-		-		(10	)		(4	)
Total other income		23		21		67			46
Interest Charges		107		96		423			350
Income Before Income Taxes, Minority Interest and Preferred
Dividends of Subsidiaries		169		79		986			869
Income Taxes		51		11		330			284
Income Before Minority Interest and Preferred Dividends of Subsidiaries		118		68		656			585
Minority Interest and Preferred Dividends of Subsidiaries		10		7		38			38
Net Income	$	108	$	61	$	618		$	547
Earnings per Common Share - Basic and Diluted	$	0.52	$	0.30	$	2.98		$	2.66
Average Common Shares Outstanding		208.1		206.3		207.4			205.6

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Year Ended
	December 31,
	2007			2006
Cash Flows From Operating Activities:
Net income	$	618		$	547
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of emission allowances		(8	)		(60	)
Gain on sale of non-core properties		(3	)		(37	)
Depreciation and amortization		735			656
Amortization of nuclear fuel		37			36
Amortization of debt issuance costs and premium/discounts		19			15
Deferred income taxes and investment tax credits, net		(28	)		91
Minority interest		27			27
Other		12			13
Changes in assets and liabilities:
Receivables		(320	)		91
Materials and supplies		(88	)		(75	)
Accounts and wages payable		20			(85	)
Taxes accrued		21			(72	)
Assets, other		25			(103	)
Liabilities, other		8			138
Pension and other postretirement obligations, net		27			97
Net cash provided by operating activities		1,102			1,279
Cash Flows From Investing Activities:
Capital expenditures		(1,381	)		(992	)
CT acquisitions		-			(292	)
Proceeds from sales of non-core properties, net		13			56
Nuclear fuel expenditures		(68	)		(39	)
Purchases of securities - nuclear decommissioning trust fund		(142	)		(110	)
Sales of securities - nuclear decommissioning trust fund		128			98
Purchases of emission allowances		(24	)		(42	)
Sales of emission allowances		5			71
Other		1			(16	)
Net cash used in investing activities		(1,468	)		(1,266	)
Cash Flows From Financing Activities:
Dividends on common stock		(527	)		(522	)
Capital issuance costs		(4	)		(4	)
Short-term debt, net		860			419
Dividends paid to minority interest		(21	)		(28	)
Redemptions, repurchases and maturities:
Long-term debt		(488	)		(164	)
Preferred stock		(1	)		(1	)
Issuances:
Common stock		91			96
Long-term debt		674			232
Net cash provided by financing activities		584			28
Net Change In Cash and Cash Equivalents		218			41
Cash and Cash Equivalents at Beginning of Year		137			96
Cash and Cash Equivalents at End of Year	$	355		$	137

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
	December 31,		December 31,
	2007		2006
ASSETS
Current Assets:
Cash and cash equivalents	$	355	$	137
Accounts receivable - trade		570		418
Unbilled revenue		359		309
Miscellaneous accounts and notes receivable		280		160
Materials and supplies		735		647
Other current assets		181		203
Total current assets		2,480		1,874
Property and Plant, Net		15,069		14,286
Investments and Other Assets:
Nuclear decommissioning trust fund		307		285
Goodwill		831		831
Intangible assets		198		217
Other assets		685		654
Regulatory assets		1,158		1,488
Total investments and other assets		3,179		3,475
TOTAL ASSETS	$	20,728	$	19,635
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt	$	221	$	456
Short-term debt		1,472		612
Accounts and wages payable		687		671
Taxes accrued		84		58
Other current liabilities		438		406
Total current liabilities		2,902		2,203
Long-term Debt, Net		5,691		5,285
Preferred Stock of Subsidiary Subject to Mandatory Redemption		16		17
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,046		2,144
Accumulated deferred investment tax credits		109		118
Regulatory liabilities		1,240		1,177
Asset retirement obligations		562		549
Accrued pension and other postretirement benefits		839		1,065
Other deferred credits and liabilities		354		283
Total deferred credits and other liabilities		5,150		5,336
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption		195		195
Minority Interest in Consolidated Subsidiaries		22		16
Stockholders' Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		4,604		4,495
Retained earnings		2,110		2,024
Accumulated other comprehensive income		36		62
Total stockholders' equity		6,752		6,583
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	20,728	$	19,635