Ameren (AEE) 8-K Ameren Announces First Quarter 2009 Earnings

Exhibit 99.2

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
	Three Months Ended
	March 31,
	2009			2008
Operating Revenues:
Electric	$	1,395		$	1,469
Gas		521			612
Total operating revenues		1,916			2,081
Operating Expenses:
Fuel		274			302
Purchased power		233			287
Gas purchased for resale		383			459
Other operations and maintenance		421			430
Depreciation and amortization		174			169
Taxes other than income taxes		110			113
Total operating expenses		1,595			1,760
Operating Income		321			321
Other Income and Expenses:
Miscellaneous income		16			19
Miscellaneous expense		(4	)		(4	)
Total other income		12			15
Interest Charges		118			100
Income Before Income Taxes		215			236
Income Taxes		70			87
Net Income		145			149
Less:  Net Income Attributable to Noncontrolling Interests		4			11
Net Income Attributable to Ameren Corporation	$	141		$	138
Earnings per Common Share - Basic and Diluted	$	0.66		$	0.66
Average Common Shares Outstanding		212.7			208.7

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Three Months Ended
	March 31,
	2009			2008
Cash Flows From Operating Activities:
Net income	$	145		$	149
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of emission allowances		-			(2	)
Net mark-to-market gain on derivatives		(51	)		(16	)
Depreciation and amortization		176			180
Amortization of nuclear fuel		12			11
Amortization of debt issuance costs and premium/discounts		4			5
Deferred income taxes and investment tax credits, net		32			23
Other		(1	)		(1	)
Changes in assets and liabilities:
Receivables		119			(52	)
Materials and supplies		185			179
Accounts and wages payable		(245	)		(80	)
Taxes accrued, net		29			4
Assets, other		45			63
Liabilities, other		128			44
Pension and other postretirement benefits		36			22
Counterparty collateral, net		(53	)		(88	)
Taum Sauk costs, net of insurance recoveries		(24	)		(112	)
Net cash provided by operating activities		537			329
Cash Flows From Investing Activities:
Capital expenditures		(424	)		(420	)
Nuclear fuel expenditures		(3	)		(102	)
Purchases of securities - nuclear decommissioning trust fund		(203	)		(89	)
Sales of securities - nuclear decommissioning trust fund		200			86
Purchases of emission allowances		(2	)		(2	)
Net cash used in investing activities		(432	)		(527	)
Cash Flows From Financing Activities:
Dividends on common stock		(82	)		(133	)
Capital issuance costs		(3	)		-
Dividends paid to noncontrolling interest holders		(8	)		(10	)
Short-term debt, net		(177	)		145
Redemptions, repurchases, and maturities of long-term debt		-			(19	)
Issuances:
Common stock		28			46
Long-term debt		349			-
Net cash provided by financing activities		107			29
Net change in cash and cash equivalents		212			(169	)
Cash and cash equivalents at beginning of year		92			355
Cash and cash equivalents at end of period	$	304		$	186

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
	March 31,			December 31,
	2009			2008
ASSETS
Current Assets:
Cash and cash equivalents	$	304		$	92
Accounts receivable - trade, net		554			502
Unbilled revenue		247			427
Miscellaneous accounts and notes receivable		318			292
Materials and supplies		657			842
Mark-to-market derivative assets		324			207
Current portion of regulatory assets		159			79
Other current assets		194			153
Total current assets		2,757			2,594
Property and Plant, Net		16,781			16,567
Investments and Other Assets:
Nuclear decommissioning trust fund		223			239
Goodwill		831			831
Intangible assets		160			167
Regulatory assets		1,682			1,653
Other assets		637			606
Total investments and other assets		3,533			3,496
TOTAL ASSETS	$	23,071		$	22,657
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	380		$	380
Short-term debt		997			1,174
Accounts and wages payable		519			813
Taxes accrued		83			54
Interest accrued		167			107
Mark-to-market derivative liabilities		273			155
Other current liabilities		462			380
Total current liabilities		2,881			3,063
Long-term Debt, Net		6,900			6,554
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,159			2,131
Accumulated deferred investment tax credits		97			100
Regulatory liabilities		1,296			1,291
Asset retirement obligations		412			406
Pension and other postretirement benefits		1,514			1,495
Other deferred credits and liabilities		539			438
Total deferred credits and other liabilities		6,017	��		5,861
Ameren Corporation Stockholders' Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		4,812			4,780
Retained earnings		2,241			2,181
Accumulated other comprehensive income		6			-
Total Ameren Corporation stockholders' equity		7,061			6,963
Noncontrolling Interest		212			216
Total equity		7,273			7,179
TOTAL LIABILITIES AND EQUITY	$	23,071		$	22,657