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, | ||||||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||||||
Operating Revenues: | |||||||||||||||
Electric | $ | 1,528 | $ | 1,590 | $ | 3,928 | $ | 4,209 | |||||||
Natural gas | 131 | 134 | 666 | 663 | |||||||||||
Total operating revenues | 1,659 | 1,724 | 4,594 | 4,872 | |||||||||||
Operating Expenses: | |||||||||||||||
Fuel | 147 | 216 | 409 | 590 | |||||||||||
Purchased power | 148 | 148 | 440 | 453 | |||||||||||
Natural gas purchased for resale | 31 | 30 | 236 | 252 | |||||||||||
Other operations and maintenance | 434 | 429 | 1,301 | 1,299 | |||||||||||
Depreciation and amortization | 248 | 241 | 745 | 713 | |||||||||||
Taxes other than income taxes | 131 | 127 | 375 | 374 | |||||||||||
Total operating expenses | 1,139 | 1,191 | 3,506 | 3,681 | |||||||||||
Operating Income | 520 | 533 | 1,088 | 1,191 | |||||||||||
Other Income, Net | 34 | 32 | 99 | 84 | |||||||||||
Interest Charges | 96 | 101 | 290 | 302 | |||||||||||
Income Before Income Taxes | 458 | 464 | 897 | 973 | |||||||||||
Income Taxes | 92 | 105 | 158 | 221 | |||||||||||
Net Income | 366 | 359 | 739 | 752 | |||||||||||
Less: Net Income Attributable to Noncontrolling Interests | 2 | 2 | 5 | 5 | |||||||||||
Net Income Attributable to Ameren Common Shareholders | $ | 364 | $ | 357 | $ | 734 | $ | 747 | |||||||
Earnings per Common Share – Basic | $ | 1.48 | $ | 1.46 | $ | 2.99 | $ | 3.06 | |||||||
Earnings per Common Share – Diluted | $ | 1.47 | $ | 1.45 | $ | 2.97 | $ | 3.04 | |||||||
Weighted-average Common Shares Outstanding – Basic | 245.9 | 244.1 | 245.5 | 243.6 | |||||||||||
Weighted-average Common Shares Outstanding – Diluted | 247.5 | 246.3 | 247.0 | 245.5 |
AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
September 30, 2019 | December 31, 2018 | ||||||
ASSETS | |||||||
Current Assets: | |||||||
Cash and cash equivalents | $ | 20 | $ | 16 | |||
Accounts receivable - trade (less allowance for doubtful accounts) | 478 | 463 | |||||
Unbilled revenue | 273 | 295 | |||||
Miscellaneous accounts receivable | 56 | 79 | |||||
Inventories | 488 | 483 | |||||
Current regulatory assets | 74 | 134 | |||||
Other current assets | 106 | 63 | |||||
Total current assets | 1,495 | 1,533 | |||||
Property, Plant, and Equipment, Net | 23,894 | 22,810 | |||||
Investments and Other Assets: | |||||||
Nuclear decommissioning trust fund | 798 | 684 | |||||
Goodwill | 411 | 411 | |||||
Regulatory assets | 1,168 | 1,127 | |||||
Other assets | 780 | 650 | |||||
Total investments and other assets | 3,157 | 2,872 | |||||
TOTAL ASSETS | $ | 28,546 | $ | 27,215 | |||
LIABILITIES AND EQUITY | |||||||
Current Liabilities: | |||||||
Current maturities of long-term debt | $ | 336 | $ | 580 | |||
Short-term debt | 544 | 597 | |||||
Accounts and wages payable | 598 | 817 | |||||
Taxes accrued | 164 | 53 | |||||
Current regulatory liabilities | 121 | 149 | |||||
Other current liabilities | 522 | 491 | |||||
Total current liabilities | 2,285 | 2,687 | |||||
Long-term Debt, Net | 8,651 | 7,859 | |||||
Deferred Credits and Other Liabilities: | |||||||
Accumulated deferred income taxes and investment tax credits, net | 2,902 | 2,666 | |||||
Regulatory liabilities | 4,845 | 4,637 | |||||
Asset retirement obligations | 671 | 627 | |||||
Pension and other postretirement benefits | 522 | 558 | |||||
Other deferred credits and liabilities | 466 | 408 | |||||
Total deferred credits and other liabilities | 9,406 | 8,896 | |||||
Ameren Corporation Shareholders’ Equity: | |||||||
Common stock | 2 | 2 | |||||
Other paid-in capital, principally premium on common stock | 5,673 | 5,627 | |||||
Retained earnings | 2,408 | 2,024 | |||||
Accumulated other comprehensive loss | (21 | ) | (22 | ) | |||
Total Ameren Corporation shareholders’ equity | 8,062 | 7,631 | |||||
Noncontrolling Interests | 142 | 142 | |||||
Total equity | 8,204 | 7,773 | |||||
TOTAL LIABILITIES AND EQUITY | $ | 28,546 | $ | 27,215 |
AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
Nine Months Ended September 30, | |||||||
2019 | 2018 | ||||||
Cash Flows From Operating Activities: | |||||||
Net income | $ | 739 | $ | 752 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Depreciation and amortization | 745 | 699 | |||||
Amortization of nuclear fuel | 56 | 71 | |||||
Amortization of debt issuance costs and premium/discounts | 14 | 16 | |||||
Deferred income taxes and investment tax credits, net | 144 | 212 | |||||
Allowance for equity funds used during construction | (20 | ) | (25 | ) | |||
Stock-based compensation costs | 15 | 15 | |||||
Other | (11 | ) | 21 | ||||
Changes in assets and liabilities | (14 | ) | (75 | ) | |||
Net cash provided by operating activities | 1,668 | 1,686 | |||||
Cash Flows From Investing Activities: | |||||||
Capital expenditures | (1,761 | ) | (1,689 | ) | |||
Nuclear fuel expenditures | (26 | ) | (30 | ) | |||
Purchases of securities – nuclear decommissioning trust fund | (192 | ) | (172 | ) | |||
Sales and maturities of securities – nuclear decommissioning trust fund | 184 | 159 | |||||
Purchase of bonds | (207 | ) | — | ||||
Proceeds from sale of remarketed bonds | 207 | — | |||||
Other | (3 | ) | 13 | ||||
Net cash used in investing activities | (1,798 | ) | (1,719 | ) | |||
Cash Flows From Financing Activities: | |||||||
Dividends on common stock | (350 | ) | (334 | ) | |||
Dividends paid to noncontrolling interest holders | (5 | ) | (5 | ) | |||
Short-term debt, net | (53 | ) | 36 | ||||
Maturities of long-term debt | (329 | ) | (522 | ) | |||
Issuances of long-term debt | 900 | 853 | |||||
Issuances of common stock | 54 | 56 | |||||
Employee payroll taxes related to stock-based compensation | (29 | ) | (19 | ) | |||
Debt issuance costs | (10 | ) | (9 | ) | |||
Other | — | 1 | |||||
Net cash provided by financing activities | 178 | 57 | |||||
Net change in cash, cash equivalents, and restricted cash | 48 | 24 | |||||
Cash, cash equivalents, and restricted cash at beginning of year | 107 | 68 | |||||
Cash, cash equivalents, and restricted cash at end of period | $ | 155 | $ | 92 |