Ameren (AEE) 8-K Ameren Announces Second Quarter 2019 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Operating Revenues:
Electric	$	1,218	$	1,396	$	2,400	$	2,619
Natural gas	161		167		535		529
Total operating revenues	1,379		1,563		2,935		3,148
Operating Expenses:
Fuel	102		186		262		374
Purchased power	136		142		292		305
Natural gas purchased for resale	44		51		205		222
Other operations and maintenance	450		439		867		870
Depreciation and amortization	249		238		497		472
Taxes other than income taxes	118		122		244		247
Total operating expenses	1,099		1,178		2,367		2,490
Operating Income	280		385		568		658
Other Income, Net	36		29		65		52
Interest Charges	97		100		194		201
Income Before Income Taxes	219		314		439		509
Income Taxes	39		74		66		116
Net Income	180		240		373		393
Less: Net Income Attributable to Noncontrolling Interests	1		1		3		3
Net Income Attributable to Ameren Common Shareholders	$	179	$	239	$	370	$	390
Earnings per Common Share – Basic	$	0.73	$	0.98	$	1.51	$	1.60
Earnings per Common Share – Diluted	$	0.72	$	0.97	$	1.50	$	1.59
Weighted-average Common Shares Outstanding – Basic	245.6		243.7		245.3		243.3
Weighted-average Common Shares Outstanding – Diluted	247.2		245.8		246.8		245.1

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30, 2019			December 31, 2018
ASSETS
Current Assets:
Cash and cash equivalents	$	6		$	16
Accounts receivable - trade (less allowance for doubtful accounts)	461			463
Unbilled revenue	326			295
Miscellaneous accounts receivable	91			79
Inventories	433			483
Current regulatory assets	107			134
Other current assets	90			63
Total current assets	1,514			1,533
Property, Plant, and Equipment, Net	23,479			22,810
Investments and Other Assets:
Nuclear decommissioning trust fund	783			684
Goodwill	411			411
Regulatory assets	1,175			1,127
Other assets	741			650
Total investments and other assets	3,110			2,872
TOTAL ASSETS	$	28,103		$	27,215
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	336		$	580
Short-term debt	999			597
Accounts and wages payable	593			817
Current regulatory liabilities	156			149
Other current liabilities	668			544
Total current liabilities	2,752			2,687
Long-term Debt, Net	8,222			7,859
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	2,758			2,666
Regulatory liabilities	4,768			4,637
Asset retirement obligations	667			627
Pension and other postretirement benefits	539			558
Other deferred credits and liabilities	464			408
Total deferred credits and other liabilities	9,196			8,896
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,649			5,627
Retained earnings	2,161			2,024
Accumulated other comprehensive loss	(21		)	(22		)
Total Ameren Corporation shareholders’ equity	7,791			7,631
Noncontrolling Interests	142			142
Total equity	7,933			7,773
TOTAL LIABILITIES AND EQUITY	$	28,103		$	27,215

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended June 30,
	2019			2018
Cash Flows From Operating Activities:
Net income	$	373		$	393
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	494			463
Amortization of nuclear fuel	33			48
Amortization of debt issuance costs and premium/discounts	9			11
Deferred income taxes and investment tax credits, net	54			81
Allowance for equity funds used during construction	(13		)	(14		)
Stock-based compensation costs	10			10
Other	(5		)	11
Changes in assets and liabilities	(76		)	(183		)
Net cash provided by operating activities	879			820
Cash Flows From Investing Activities:
Capital expenditures	(1,125		)	(1,112		)
Nuclear fuel expenditures	(25		)	(16		)
Purchases of securities – nuclear decommissioning trust fund	(96		)	(129		)
Sales and maturities of securities – nuclear decommissioning trust fund	95			122
Purchase of bonds	(97		)	—
Proceeds from sale of remarketed bonds	97			—
Other	(3		)	6
Net cash used in investing activities	(1,154		)	(1,129		)
Cash Flows From Financing Activities:
Dividends on common stock	(233		)	(223		)
Dividends paid to noncontrolling interest holders	(3		)	(3		)
Short-term debt, net	401			21
Maturities of long-term debt	(329		)	(323		)
Issuances of long-term debt	450			853
Issuances of common stock	37			40
Employee payroll taxes related to stock-based compensation	(29		)	(19		)
Debt issuance costs	(4		)	(9		)
Net cash provided by financing activities	290			337
Net change in cash, cash equivalents, and restricted cash	15			28
Cash, cash equivalents, and restricted cash at beginning of year	107			68
Cash, cash equivalents, and restricted cash at end of period	$	122		$	96