Ameren (AEE) 8-K Ameren Announces Third Quarter 2018 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Operating Revenues:
Electric	$	1,590	$	1,594	$	4,209	$	4,183
Natural gas	134		129		663		592
Total operating revenues	1,724		1,723		4,872		4,775
Operating Expenses:
Fuel	216		199		590		594
Purchased power	148		163		453		493
Natural gas purchased for resale	30		25		252		196
Other operations and maintenance	429		413		1,299		1,262
Depreciation and amortization	241		225		713		668
Taxes other than income taxes	127		129		374		364
Total operating expenses	1,191		1,154		3,681		3,577
Operating Income	533		569		1,191		1,198
Other Income, Net	32		23		84		61
Interest Charges	101		97		302		295
Income Before Income Taxes	464		495		973		964
Income Taxes	105		205		221		376
Net Income	359		290		752		588
Less: Net Income Attributable to Noncontrolling Interests	2		2		5		5
Net Income Attributable to Ameren Common Shareholders	$	357	$	288	$	747	$	583
Earnings per Common Share – Basic	$	1.46	$	1.19	$	3.06	$	2.40
Earnings per Common Share – Diluted	$	1.45	$	1.18	$	3.04	$	2.39
Weighted-average Common Shares Outstanding – Basic	244.1		242.6		243.6		242.6
Weighted-average Common Shares Outstanding – Diluted	246.3		244.7		245.5		244.0

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	September 30, 2018			December 31, 2017
ASSETS
Current Assets:
Cash and cash equivalents	$	11		$	10
Accounts receivable - trade (less allowance for doubtful accounts)	605			445
Unbilled revenue	260			323
Miscellaneous accounts receivable	84			70
Inventories	525			522
Current regulatory assets	72			144
Other current assets	83			98
Total current assets	1,640			1,612
Property, Plant, and Equipment, Net	22,379			21,466
Investments and Other Assets:
Nuclear decommissioning trust fund	752			704
Goodwill	411			411
Regulatory assets	1,130			1,230
Other assets	647			522
Total investments and other assets	2,940			2,867
TOTAL ASSETS	$	26,959		$	25,945
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	649		$	841
Short-term debt	521			484
Accounts and wages payable	591			902
Taxes accrued	154			52
Interest accrued	108			99
Customer deposits	126			108
Current regulatory liabilities	114			128
Other current liabilities	317			326
Total current liabilities	2,580			2,940
Long-term Debt, Net	7,614			7,094
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net	2,692			2,506
Accumulated deferred investment tax credits	45			49
Regulatory liabilities	4,652			4,387
Asset retirement obligations	640			638
Pension and other postretirement benefits	529			545
Other deferred credits and liabilities	409			460
Total deferred credits and other liabilities	8,967			8,585
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,598			5,540
Retained earnings	2,073			1,660
Accumulated other comprehensive loss	(17		)	(18		)
Total Ameren Corporation shareholders’ equity	7,656			7,184
Noncontrolling Interests	142			142
Total equity	7,798			7,326
TOTAL LIABILITIES AND EQUITY	$	26,959		$	25,945

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Nine Months Ended September 30,
	2018			2017
Cash Flows From Operating Activities:
Net income	$	752		$	588
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	699			653
Amortization of nuclear fuel	71			71
Amortization of debt issuance costs and premium/discounts	16			16
Deferred income taxes and investment tax credits, net	212			366
Allowance for equity funds used during construction	(25		)	(16		)
Stock-based compensation costs	15			12
Other	21			(7		)
Changes in assets and liabilities	(75		)	(36		)
Net cash provided by operating activities	1,686			1,647
Cash Flows From Investing Activities:
Capital expenditures	(1,689		)	(1,523		)
Nuclear fuel expenditures	(30		)	(52		)
Purchases of securities – nuclear decommissioning trust fund	(172		)	(187		)
Sales and maturities of securities – nuclear decommissioning trust fund	159			175
Other	13			3
Net cash used in investing activities	(1,719		)	(1,584		)
Cash Flows From Financing Activities:
Dividends on common stock	(334		)	(320		)
Dividends paid to noncontrolling interest holders	(5		)	(5		)
Short-term debt, net	36			(112		)
Maturities of long-term debt	(522		)	(425		)
Issuances of long-term debt	853			849
Issuances of common stock	56			—
Repurchases of common stock for stock-based compensation	—			(24		)
Employee payroll taxes related to stock-based compensation	(19		)	(15		)
Debt issuance costs	(9		)	(5		)
Other	1			(1		)
Net cash provided by (used in) financing activities	57			(58		)
Net change in cash, cash equivalents, and restricted cash	24			5
Cash, cash equivalents, and restricted cash at beginning of year	68			52
Cash, cash equivalents, and restricted cash at end of period	$	92		$	57