Ameren (AEE) 8-K Ameren Announces 2018 Results

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,
	2018		2017			2018		2017
Operating Revenues:
Electric	$	1,130	$	1,124		$	5,339	$	5,307
Natural gas	289		275			952		867
Total operating revenues	1,419		1,399			6,291		6,174
Operating Expenses:
Fuel	179		143			769		737
Purchased power	128		145			581		638
Natural gas purchased for resale	122		115			374		311
Other operations and maintenance	473		443			1,772		1,705
Depreciation and amortization	242		228			955		896
Taxes other than income taxes	109		113			483		477
Total operating expenses	1,253		1,187			4,934		4,764
Operating Income	166		212			1,357		1,410
Other Income, Net	18		25			102		86
Interest Charges	99		96			401		391
Income Before Income Taxes	85		141			1,058		1,105
Income Taxes	16		200			237		576
Net Income (Loss)	69		(59		)	821		529
Less: Net Income Attributable to Noncontrolling Interests	1		1			6		6
Net Income (Loss) Attributable to Ameren Common Shareholders	$	68	$	(60	)	$	815	$	523
Earnings (Loss) per Common Share – Basic	$	0.28	$	(0.24	)	$	3.34	$	2.16
Earnings (Loss) per Common Share – Diluted	$	0.28	$	(0.24	)	$	3.32	$	2.14
Weighted-average Common Shares Outstanding – Basic	244.3		242.6			243.8		242.6
Weighted-average Common Shares Outstanding – Diluted	246.8		244.7			245.8		244.2

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2018			December 31, 2017
ASSETS
Current Assets:
Cash and cash equivalents	$	16		$	10
Accounts receivable - trade (less allowance for doubtful accounts)	463			445
Unbilled revenue	295			323
Miscellaneous accounts receivable	79			70
Inventories	483			522
Current regulatory assets	134			144
Other current assets	63			98
Total current assets	1,533			1,612
Property, Plant, and Equipment, Net	22,810			21,466
Investments and Other Assets:
Nuclear decommissioning trust fund	684			704
Goodwill	411			411
Regulatory assets	1,127			1,230
Other assets	650			522
Total investments and other assets	2,872			2,867
TOTAL ASSETS	$	27,215		$	25,945
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	580		$	841
Short-term debt	597			484
Accounts and wages payable	817			902
Taxes accrued	53			52
Interest accrued	93			99
Customer deposits	116			108
Current regulatory liabilities	149			128
Other current liabilities	282			326
Total current liabilities	2,687			2,940
Long-term Debt, Net	7,859			7,094
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net	2,623			2,506
Accumulated deferred investment tax credits	43			49
Regulatory liabilities	4,637			4,387
Asset retirement obligations	627			638
Pension and other postretirement benefits	558			545
Other deferred credits and liabilities	408			460
Total deferred credits and other liabilities	8,896			8,585
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,627			5,540
Retained earnings	2,024			1,660
Accumulated other comprehensive loss	(22		)	(18		)
Total Ameren Corporation shareholders’ equity	7,631			7,184
Noncontrolling Interests	142			142
Total equity	7,773			7,326
TOTAL LIABILITIES AND EQUITY	$	27,215		$	25,945

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2018			2017
Cash Flows From Operating Activities:
Net income	$	821		$	529
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	938			876
Amortization of nuclear fuel	95			76
Amortization of debt issuance costs and premium/discounts	20			22
Deferred income taxes and investment tax credits, net	224			539
Allowance for equity funds used during construction	(36		)	(24		)
Stock-based compensation costs	20			17
Other	44			(10		)
Changes in assets and liabilities	44			93
Net cash provided by operating activities	2,170			2,118
Cash Flows From Investing Activities:
Capital expenditures	(2,286		)	(2,132		)
Nuclear fuel expenditures	(52		)	(63		)
Purchases of securities – nuclear decommissioning trust fund	(315		)	(321		)
Sales and maturities of securities – nuclear decommissioning trust fund	299			305
Other	18			7
Net cash used in investing activities	(2,336		)	(2,204		)
Cash Flows From Financing Activities:
Dividends on common stock	(451		)	(431		)
Dividends paid to noncontrolling interest holders	(6		)	(6		)
Short-term debt, net	112			(74		)
Maturities of long-term debt	(841		)	(681		)
Issuances of long-term debt	1,352			1,345
Issuances of common stock	74			—
Debt issuance costs	(14		)	(11		)
Repurchases of common stock for stock-based compensation	—			(24		)
Employee payroll taxes related to stock-based compensation	(19		)	(15		)
Other	(2		)	(1		)
Net cash provided by financing activities	205			102
Net change in cash, cash equivalents, and restricted cash	39			16
Cash, cash equivalents, and restricted cash at beginning of year	68			52
Cash, cash equivalents, and restricted cash at end of year	$	107		$	68