Exhibit 99.2
AMEREN CORPORATION (AEE) | |||||||
CONSOLIDATED STATEMENT OF INCOME | |||||||
(Unaudited, in millions, except per share amounts) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2008 | 2007 | ||||||
Operating Revenues: | |||||||
Electric | $ | 1,467 | $ | 1,463 | |||
Gas | 612 | 561 | |||||
Total operating revenues | 2,079 | 2,024 | |||||
Operating Expenses: | |||||||
Fuel | 302 | 263 | |||||
Purchased power | 287 | 373 | |||||
Gas purchased for resale | 459 | 421 | |||||
Other operations and maintenance | 423 | 389 | |||||
Depreciation and amortization | 176 | 183 | |||||
Taxes other than income taxes | 113 | 102 | |||||
Total operating expenses | 1,760 | 1,731 | |||||
Operating Income | 319 | 293 | |||||
Other Income and Expenses: | |||||||
Miscellaneous income | 21 | 16 | |||||
Miscellaneous expense | (4 | ) | (5 | ) | |||
Total other income | 17 | 11 | |||||
Interest Charges | 100 | 100 | |||||
Income Before Income Taxes, Minority Interest and Preferred | |||||||
Dividends of Subsidiaries | 236 | 204 | |||||
Income Taxes | 87 | 71 | |||||
Income Before Minority Interest and Preferred Dividends of Subsidiaries | 149 | 133 | |||||
Minority Interest and Preferred Dividends of Subsidiaries | 11 | 10 | |||||
Net Income | $ | 138 | $ | 123 | |||
Earnings per Common Share - Basic and Diluted | $ | 0.66 | $ | 0.59 | |||
Average Common Shares Outstanding | 208.7 | 206.6 | |||||
AMEREN CORPORATION (AEE) | |||||||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||||||
(Unaudited, in millions) | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2008 | 2007 | ||||||
Cash Flows From Operating Activities: | |||||||
Net income | $ | 138 | $ | 123 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Gain on sales of emission allowances | (2 | ) | (4 | ) | |||
Mark-to-market (gain) loss on derivatives | (16 | ) | 4 | ||||
Depreciation and amortization | 180 | 182 | |||||
Amortization of nuclear fuel | 11 | 9 | |||||
Amortization of debt issuance costs and premium/discounts | 5 | 5 | |||||
Deferred income taxes and investment tax credits, net | 23 | (12 | ) | ||||
Minority interest | 8 | 7 | |||||
Other | (1 | ) | 6 | ||||
Changes in assets and liabilities: | |||||||
Receivables | (78 | ) | (193 | ) | |||
Materials and supplies | 179 | 158 | |||||
Accounts and wages payable | (106 | ) | (81 | ) | |||
Taxes accrued | 4 | 77 | |||||
Assets, other | (25 | ) | 19 | ||||
Liabilities, other | (16 | ) | 37 | ||||
Pension and other postretirement benefit obligations | 22 | 21 | |||||
Net cash provided by operating activities | 326 | 358 | |||||
Cash Flows From Investing Activities: | |||||||
Capital expenditures | (420 | ) | (357 | ) | |||
Nuclear fuel expenditures | (102 | ) | (23 | ) | |||
Purchases of securities - nuclear decommissioning trust fund | (89 | ) | (47 | ) | |||
Sales of securities - nuclear decommissioning trust fund | 86 | 43 | |||||
Purchases of emission allowances | (2 | ) | (5 | ) | |||
Sales of emission allowances | - | 2 | |||||
Other | - | 1 | |||||
Net cash used in investing activities | (527 | ) | (386 | ) | |||
Cash Flows From Financing Activities: | |||||||
Dividends on common stock | (133 | ) | (131 | ) | |||
Short-term debt, net | 145 | 341 | |||||
Dividends paid to minority interest holder | (7 | ) | (5 | ) | |||
Redemptions, repurchases and maturities: | |||||||
Long-term debt | (19 | ) | (174 | ) | |||
Issuances: | |||||||
Common stock | 46 | 21 | |||||
Net cash provided by financing activities | 32 | 52 | |||||
Net Change In Cash and Cash Equivalents | (169 | ) | 24 | ||||
Cash and Cash Equivalents at Beginning of Year | 355 | 137 | |||||
Cash and Cash Equivalents at End of Period | $ | 186 | $ | 161 | |||
AMEREN CORPORATION (AEE) | |||||||
CONSOLIDATED BALANCE SHEET | |||||||
(Unaudited, in millions) | |||||||
March 31, | December 31, | ||||||
2008 | 2007 | ||||||
ASSETS | |||||||
Current Assets: | |||||||
Cash and cash equivalents | $ | 186 | $ | 355 | |||
Accounts receivable - trade | 656 | 570 | |||||
Unbilled revenue | 318 | 359 | |||||
Miscellaneous accounts and notes receivable | 315 | 280 | |||||
Materials and supplies | 556 | 735 | |||||
Other current assets | 272 | 181 | |||||
Total current assets | 2,303 | 2,480 | |||||
Property and Plant, Net | 15,294 | 15,069 | |||||
Investments and Other Assets: | |||||||
Nuclear decommissioning trust fund | 291 | 307 | |||||
Goodwill | 831 | 831 | |||||
Intangible assets | 189 | 198 | |||||
Regulatory assets | 1,149 | 1,158 | |||||
Other assets | 701 | 685 | |||||
Total investments and other assets | 3,161 | 3,179 | |||||
TOTAL ASSETS | $ | 20,758 | $ | 20,728 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current Liabilities: | |||||||
Current maturities of long-term debt | $ | 823 | $ | 221 | |||
Short-term debt | 1,617 | 1,472 | |||||
Accounts and wages payable | 443 | 687 | |||||
Taxes accrued | 88 | 84 | |||||
Other current liabilities | 539 | 438 | |||||
Total current liabilities | 3,510 | 2,902 | |||||
Long-term Debt, Net | 5,066 | 5,691 | |||||
Preferred Stock of Subsidiary Subject to Mandatory Redemption | 16 | 16 | |||||
Deferred Credits and Other Liabilities: | |||||||
Accumulated deferred income taxes, net | 1,989 | 2,046 | |||||
Accumulated deferred investment tax credits | 106 | 109 | |||||
Regulatory liabilities | 1,328 | 1,240 | |||||
Asset retirement obligations | 569 | 562 | |||||
Accrued pension and other postretirement benefits | 856 | 839 | |||||
Other deferred credits and liabilities | 346 | 354 | |||||
Total deferred credits and other liabilities | 5,194 | 5,150 | |||||
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption | 195 | 195 | |||||
Minority Interest in Consolidated Subsidiaries | 23 | 22 | |||||
Stockholders' Equity: | |||||||
Common stock | 2 | 2 | |||||
Other paid-in capital, principally premium on common stock | 4,656 | 4,604 | |||||
Retained earnings | 2,115 | 2,110 | |||||
Accumulated other comprehensive income (loss) | (19 | ) | 36 | ||||
Total stockholders' equity | 6,754 | 6,752 | |||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 20,758 | $ | 20,728 | |||