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 |
|
