Ameren (AEE) 8-K Ameren Announces First Quarter 2020 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended March 31,
	2020		2019
Operating Revenues:
Electric	$	1,120	$	1,182
Natural gas	320		374
Total operating revenues	1,440		1,556
Operating Expenses:
Fuel	140		160
Purchased power	134		156
Natural gas purchased for resale	107		161
Other operations and maintenance	438		417
Depreciation and amortization	255		248
Taxes other than income taxes	125		126
Total operating expenses	1,199		1,268
Operating Income	241		288
Other Income, Net	21		29
Interest Charges	93		97
Income Before Income Taxes	169		220
Income Taxes	21		27
Net Income	148		193
Less: Net Income Attributable to Noncontrolling Interests	2		2
Net Income Attributable to Ameren Common Shareholders	$	146	$	191
Earnings per Common Share – Basic and Diluted	$	0.59	$	0.78
Weighted-average Common Shares Outstanding – Basic	246.4		244.9
Weighted-average Common Shares Outstanding – Diluted	248.1		246.4

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	March 31, 2020			December 31, 2019
ASSETS
Current Assets:
Cash and cash equivalents	$	42		$	16
Accounts receivable - trade (less allowance for doubtful accounts)	456			393
Unbilled revenue	212			278
Miscellaneous accounts receivable	65			63
Inventories	471			494
Current regulatory assets	91			69
Other current assets	127			118
Total current assets	1,464			1,431
Property, Plant, and Equipment, Net	24,678			24,376
Investments and Other Assets:
Nuclear decommissioning trust fund	742			847
Goodwill	411			411
Regulatory assets	1,092			992
Other assets	885			876
Total investments and other assets	3,130			3,126
TOTAL ASSETS	$	29,272		$	28,933
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	357		$	442
Short-term debt	615			440
Accounts and wages payable	544			874
Current regulatory liabilities	189			164
Other current liabilities	662			585
Total current liabilities	2,367			2,505
Long-term Debt, Net	9,378			8,915
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	2,948			2,919
Regulatory liabilities	4,842			4,887
Asset retirement obligations	631			638
Pension and other postretirement benefits	397			401
Other deferred credits and liabilities	482			467
Total deferred credits and other liabilities	9,300			9,312
Ameren Corporation Shareholders’ Equity:
Common stock	2			2
Other paid-in capital, principally premium on common stock	5,695			5,694
Retained earnings	2,404			2,380
Accumulated other comprehensive loss	(16		)	(17		)
Total Ameren Corporation shareholders’ equity	8,085			8,059
Noncontrolling Interests	142			142
Total equity	8,227			8,201
TOTAL LIABILITIES AND EQUITY	$	29,272		$	28,933

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Three Months Ended March 31,
	2020			2019
Cash Flows From Operating Activities:
Net income	$	148		$	193
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	263			245
Amortization of nuclear fuel	23			23
Amortization of debt issuance costs and premium/discounts	5			5
Deferred income taxes and investment tax credits, net	23			32
Allowance for equity funds used during construction	(4		)	(6		)
Stock-based compensation costs	6			6
Other	17			(8		)
Changes in assets and liabilities	(191		)	(103		)
Net cash provided by operating activities	290			387
Cash Flows From Investing Activities:
Capital expenditures	(636		)	(544		)
Nuclear fuel expenditures	(35		)	(21		)
Purchases of securities – nuclear decommissioning trust fund	(96		)	(39		)
Sales and maturities of securities – nuclear decommissioning trust fund	81			36
Other	2			1
Net cash used in investing activities	(684		)	(567		)
Cash Flows From Financing Activities:
Dividends on common stock	(122		)	(116		)
Dividends paid to noncontrolling interest holders	(2		)	(2		)
Short-term debt, net	175			202
Maturities of long-term debt	(85		)	(329		)
Issuances of long-term debt	465			450
Issuances of common stock	13			19
Employee payroll taxes related to stock-based compensation	(20		)	(29		)
Debt issuance costs	(3		)	(4		)
Net cash provided by financing activities	421			191
Net change in cash, cash equivalents, and restricted cash	27			11
Cash, cash equivalents, and restricted cash at beginning of year	176			107
Cash, cash equivalents, and restricted cash at end of period	$	203		$	118