Ameren (AEE) 8-K Ameren Announces Second Quarter 2008 Earnings

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,
	2008			2007			2008			2007
Operating Revenues:
Electric	$	1,545		$	1,519		$	3,012		$	2,982
Gas		243			209			855			770
Total operating revenues		1,788			1,728			3,867			3,752
Operating Expenses:
Fuel		200			263			502			526
Coal contract settlement		(60	)		-			(60	)		-
Purchased power		306			314			593			687
Gas purchased for resale		165			133			624			554
Other operations and maintenance		469			420			891			809
Depreciation and amortization		178			176			354			359
Taxes other than income taxes		89			96			202			198
Total operating expenses		1,347			1,402			3,106			3,133
Operating Income		441			326			761			619
Other Income and Expenses:
Miscellaneous income		21			20			42			34
Miscellaneous expense		(8	)		(8	)		(13	)		(13	)
Total other income		13			12			29			21
Interest Charges		118			108			218			206
Income Before Income Taxes, Minority Interest and Preferred
Dividends of Subsidiaries		336			230			572			434
Income Taxes		119			78			206			149
Income Before Minority Interest and Preferred Dividends of Subsidiaries		217			152			366			285
Minority Interest and Preferred Dividends of Subsidiaries		11			9			22			19
Net Income	$	206		$	143		$	344		$	266
Earnings per Common Share - Basic and Diluted	$	0.98		$	0.69		$	1.64		$	1.29
Average Common Shares Outstanding		209.5			207.1			209.1			206.9

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Six Months Ended
	June 30,
	2008			2007
Cash Flows From Operating Activities:
Net income	$	344		$	266
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of emission allowances		(2	)		(2	)
Mark-to-market gain on derivatives		(94	)		(1	)
Coal contract settlement		(60	)		-
Depreciation and amortization		364			357
Amortization of nuclear fuel		20			15
Amortization of debt issuance costs and premium/discounts		8			10
Deferred income taxes and investment tax credits, net		107			(8	)
Minority interest		16			13
Other		4			7
Changes in assets and liabilities:
Receivables		15			(131	)
Materials and supplies		16			35
Accounts and wages payable		(64	)		(62	)
Taxes accrued, net		(58	)		59
Assets, other		32			29
Liabilities, other		65			19
Pension and other postretirement benefit obligations		15			50
Counterparty collateral asset		(205	)		(97	)
Counterparty collateral liability		79			-
Taum Sauk insurance receivable, net		(107	)		(16	)
Net cash provided by operating activities		495			543
Cash Flows From Investing Activities:
Capital expenditures		(798	)		(715	)
Nuclear fuel expenditures		(123	)		(24	)
Purchases of securities - nuclear decommissioning trust fund		(247	)		(75	)
Sales of securities - nuclear decommissioning trust fund		231			65
Purchases of emission allowances		(2	)		(9	)
Sales of emission allowances		2			3
Other		2			1
Net cash used in investing activities		(935	)		(754	)
Cash Flows From Financing Activities:
Dividends on common stock		(266	)		(263	)
Capital issuance costs		(9	)		(3	)
Short-term debt, net		(22	)		1,007
Dividends paid to minority interest holder		(15	)		(10	)
Redemptions, repurchases, and maturities of long-term debt		(808	)		(443	)
Issuances:
Common stock		75			48
Long-term debt		1,335			425
Net cash provided by financing activities		290			761
Net change in cash and cash equivalents		(150	)		550
Cash and cash equivalents at beginning of year		355			137
Cash and cash equivalents at end of period	$	205		$	687

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
	June 30,			December 31,
	2008			2007
ASSETS
Current Assets:
Cash and cash equivalents	$	205		$	355
Accounts receivable - trade, net		529			570
Unbilled revenue		389			359
Miscellaneous accounts and notes receivable		376			280
Materials and supplies		719			735
Mark-to-market derivative assets		273			35
Other current assets		275			146
Total current assets		2,766			2,480
Property and Plant, Net		15,566			15,069
Investments and Other Assets:
Nuclear decommissioning trust fund		284			307
Goodwill		831			831
Intangible assets		177			198
Regulatory assets		1,081			1,158
Other assets		940			685
Total investments and other assets		3,313			3,179
TOTAL ASSETS	$	21,645		$	20,728
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt	$	285		$	221
Short-term debt		1,450			1,472
Accounts and wages payable		527			687
Taxes accrued		111			84
Mark-to-market derivative liabilities		236			24
Other current liabilities		469			414
Total current liabilities		3,078			2,902
Long-term Debt, Net		6,146			5,691
Preferred Stock of Subsidiary Subject to Mandatory Redemption		16			16
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,104			2,046
Accumulated deferred investment tax credits		104			109
Regulatory liabilities		1,437			1,240
Asset retirement obligations		576			562
Accrued pension and other postretirement benefits		758			839
Other deferred credits and liabilities		390			354
Total deferred credits and other liabilities		5,369			5,150
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption		195			195
Minority Interest in Consolidated Subsidiaries		24			22
Stockholders' Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		4,693			4,604
Retained earnings		2,188			2,110
Accumulated other comprehensive income (loss)		(66	)		36
Total stockholders' equity		6,817			6,752
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	21,645		$	20,728