Ameren (AEE) 8-K Ameren Announces 2019 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,
	2019		2018		2019		2018
Operating Revenues:
Electric	$	1,053	$	1,130	$	4,981	$	5,339
Natural gas	263		289		929		952
Total operating revenues	1,316		1,419		5,910		6,291
Operating Expenses:
Fuel	126		179		535		769
Purchased power	116		128		556		581
Natural gas purchased for resale	95		122		331		374
Other operations and maintenance	444		473		1,745		1,772
Depreciation and amortization	250		242		995		955
Taxes other than income taxes	106		109		481		483
Total operating expenses	1,137		1,253		4,643		4,934
Operating Income	179		166		1,267		1,357
Other Income, Net	31		18		130		102
Interest Charges	91		99		381		401
Income Before Income Taxes	119		85		1,016		1,058
Income Taxes	24		16		182		237
Net Income	95		69		834		821
Less: Net Income Attributable to Noncontrolling Interests	1		1		6		6
Net Income Attributable to Ameren Common Shareholders	$	94	$	68	$	828	$	815
Earnings per Common Share – Basic	$	0.38	$	0.28	$	3.37	$	3.34
Earnings per Common Share – Diluted	$	0.38	$	0.28	$	3.35	$	3.32
Weighted-average Common Shares Outstanding – Basic	246.0		244.3		245.6		243.8
Weighted-average Common Shares Outstanding – Diluted	247.5		246.8		247.1		245.8

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2019			December 31, 2018
ASSETS
Current Assets:
Cash and cash equivalents	$	16		$	16
Accounts receivable - trade (less allowance for doubtful accounts)	393			463
Unbilled revenue	278			295
Miscellaneous accounts receivable	63			79
Inventories	494			483
Current regulatory assets	69			134
Other current assets	118			63
Total current assets	1,431			1,533
Property, Plant, and Equipment, Net	24,376			22,810
Investments and Other Assets:
Nuclear decommissioning trust fund	847			684
Goodwill	411			411
Regulatory assets	992			1,127
Other assets	876			650
Total investments and other assets	3,126			2,872
TOTAL ASSETS	$	28,933		$	27,215
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	442		$	580
Short-term debt	440			597
Accounts and wages payable	874			817
Current regulatory liabilities	164			149
Other current liabilities	585			544
Total current liabilities	2,505			2,687
Long-term Debt, Net	8,915			7,859
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	2,919			2,666
Regulatory liabilities	4,887			4,637
Asset retirement obligations	638			627
Pension and other postretirement benefits	401			558
Other deferred credits and liabilities	467			408
Total deferred credits and other liabilities	9,312			8,896
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,694			5,627
Retained earnings	2,380			2,024
Accumulated other comprehensive loss	(17		)	(22		)
Total Ameren Corporation shareholders’ equity	8,059			7,631
Noncontrolling Interests	142			142
Total equity	8,201			7,773
TOTAL LIABILITIES AND EQUITY	$	28,933		$	27,215

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2019			2018
Cash Flows From Operating Activities:
Net income	$	834		$	821
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,002			938
Amortization of nuclear fuel	79			95
Amortization of debt issuance costs and premium/discounts	19			20
Deferred income taxes and investment tax credits, net	167			224
Allowance for equity funds used during construction	(28		)	(36		)
Stock-based compensation costs	20			20
Other	(14		)	44
Changes in assets and liabilities	91			44
Net cash provided by operating activities	2,170			2,170
Cash Flows From Investing Activities:
Capital expenditures	(2,411		)	(2,286		)
Nuclear fuel expenditures	(31		)	(52		)
Purchases of securities – nuclear decommissioning trust fund	(256		)	(315		)
Sales and maturities of securities – nuclear decommissioning trust fund	260			299
Purchase of bonds	(207		)	—
Proceeds from sale of remarketed bonds	207			—
Other	3			18
Net cash used in investing activities	(2,435		)	(2,336		)
Cash Flows From Financing Activities:
Dividends on common stock	(472		)	(451		)
Dividends paid to noncontrolling interest holders	(6		)	(6		)
Short-term debt, net	(157		)	112
Maturities of long-term debt	(580		)	(841		)
Issuances of long-term debt	1,527			1,352
Issuances of common stock	68			74
Employee payroll taxes related to stock-based compensation	(29		)	(19		)
Debt issuance costs	(17		)	(14		)
Other	—			(2		)
Net cash provided by financing activities	334			205
Net change in cash, cash equivalents, and restricted cash	69			39
Cash, cash equivalents, and restricted cash at beginning of year	107			68
Cash, cash equivalents, and restricted cash at end of year	$	176		$	107