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 December 31,					Year Ended December 31,
	2017			2016		2017		2016
Operating Revenues:
Electric	$	1,127		$	1,095	$	5,310	$	5,196
Natural gas	275			261		867		880
Total operating revenues	1,402			1,356		6,177		6,076
Operating Expenses:
Fuel	143			171		737		745
Purchased power	147			170		638		621
Natural gas purchased for resale	115			114		311		341
Other operations and maintenance	431			430		1,660		1,676
Depreciation and amortization	228			217		896		845
Taxes other than income taxes	113			109		477		467
Total operating expenses	1,177			1,211		4,719		4,695
Operating Income	225			145		1,458		1,381
Other Income and Expenses:
Miscellaneous income	17			20		59		74
Miscellaneous expense	5			11		21		32
Total other income	12			9		38		42
Interest Charges	96			95		391		382
Income Before Income Taxes	141			59		1,105		1,041
Income Taxes	200			26		576		382
Net Income (Loss)	(59		)	33		529		659
Less: Net Income Attributable to Noncontrolling Interests	1			1		6		6
Net Income (Loss) Attributable to Ameren Common Shareholders	$	(60	)	$	32	$	523	$	653
Earnings (Loss) per Common Share – Basic	$	(0.24	)	$	0.13	$	2.16	$	2.69
Earnings (Loss) per Common Share – Diluted	$	(0.24	)	$	0.13	$	2.14	$	2.68
Average Common Shares Outstanding – Basic	242.6			242.6		242.6		242.6
Average Common Shares Outstanding – Diluted	244.7			244.7		244.2		243.4

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2017			December 31, 2016
ASSETS
Current Assets:
Cash and cash equivalents	$	10		$	9
Accounts receivable - trade (less allowance for doubtful accounts)	445			437
Unbilled revenue	323			295
Miscellaneous accounts and notes receivable	70			63
Inventories	522			527
Current regulatory assets	144			149
Other current assets	98			113
Total current assets	1,612			1,593
Property, Plant, and Equipment, Net	21,466			20,113
Investments and Other Assets:				��
Nuclear decommissioning trust fund	704			607
Goodwill	411			411
Regulatory assets	1,230			1,437
Other assets	522			538
Total investments and other assets	2,867			2,993
TOTAL ASSETS	$	25,945		$	24,699
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	841		$	681
Short-term debt	484			558
Accounts and wages payable	902			805
Taxes accrued	52			46
Interest accrued	99			93
Customer deposits	108			107
Current regulatory liabilities	128			110
Other current liabilities	326			274
Total current liabilities	2,940			2,674
Long-term Debt, Net	7,094			6,595
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net	2,506			4,264
Accumulated deferred investment tax credits	49			55
Regulatory liabilities	4,387			1,985
Asset retirement obligations	638			635
Pension and other postretirement benefits	545			769
Other deferred credits and liabilities	460			477
Total deferred credits and other liabilities	8,585			8,185
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,540			5,556
Retained earnings	1,660			1,568
Accumulated other comprehensive loss	(18		)	(23		)
Total Ameren Corporation shareholders’ equity	7,184			7,103
Noncontrolling Interests	142			142
Total equity	7,326			7,245
TOTAL LIABILITIES AND EQUITY	$	25,945		$	24,699

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2017			2016
Cash Flows From Operating Activities:
Net income	$	529		$	659
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	876			835
Amortization of nuclear fuel	76			88
Amortization of debt issuance costs and premium/discounts	22			22
Deferred income taxes and investment tax credits, net	539			386
Allowance for equity funds used during construction	(24		)	(27		)
Share-based compensation costs	17			17
Other	(10		)	4
Changes in assets and liabilities	79			140
Net cash provided by operating activities – continuing operations	2,104			2,124
Net cash used in operating activities – discontinued operations	—			(1		)
Net cash provided by operating activities	2,104			2,123
Cash Flows From Investing Activities:
Capital expenditures	(2,132		)	(2,076		)
Nuclear fuel expenditures	(63		)	(55		)
Purchases of securities – nuclear decommissioning trust fund	(413		)	(392		)
Sales and maturities of securities – nuclear decommissioning trust fund	396			377
Other	7			5
Net cash used in investing activities	(2,205		)	(2,141		)
Cash Flows From Financing Activities:
Dividends on common stock	(431		)	(416		)
Dividends paid to noncontrolling interest holders	(6		)	(6		)
Short-term debt, net	(74		)	257
Maturities of long-term debt	(681		)	(395		)
Issuances of long-term debt	1,345			389
Debt issuance costs	(11		)	(9		)
Share-based payments	(39		)	(83		)
Other	(1		)	(2		)
Net cash provided by (used in) financing activities	102			(265		)
Net change in cash and cash equivalents	1			(283		)
Cash and cash equivalents at beginning of year	9			292
Cash and cash equivalents at end of year	$	10		$	9