Ameren (AEE) 8-K Ameren Announces First Quarter 2021 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended March 31,
		2021		2020
Operating Revenues:
Electric		$	1,156	$	1,120
Natural gas		410		320
Total operating revenues		1,566		1,440
Operating Expenses:
Fuel		65		140
Purchased power		191		134
Natural gas purchased for resale		165		107
Other operations and maintenance		420		438
Depreciation and amortization		281		255
Taxes other than income taxes		128		125
Total operating expenses		1,250		1,199
Operating Income		316		241
Other Income, Net		46		21
Interest Charges		100		93
Income Before Income Taxes		262		169
Income Taxes		27		21
Net Income		235		148
Less: Net Income Attributable to Noncontrolling Interests		2		2
Net Income Attributable to Ameren Common Shareholders		$	233	$	146
Earnings per Common Share – Basic		$	0.92	$	0.59
Earnings per Common Share – Diluted		$	0.91	$	0.59
Weighted-average Common Shares Outstanding – Basic		254.4		246.4
Weighted-average Common Shares Outstanding – Diluted		255.9		248.1

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	March 31, 2021		December 31, 2020
ASSETS
Current Assets:
Cash and cash equivalents	$	6	$	139
Accounts receivable - trade (less allowance for doubtful accounts)	464		415
Unbilled revenue	210		269
Miscellaneous accounts receivable	61		65
Inventories	467		521
Restricted cash	134		17
Current regulatory assets	367		109
Other current assets	114		118
Total current assets	1,823		1,653
Property, Plant, and Equipment, Net	27,307		26,807
Investments and Other Assets:
Nuclear decommissioning trust fund	1,010		982
Goodwill	411		411
Regulatory assets	1,249		1,100
Other assets	989		1,077
Total investments and other assets	3,659		3,570
TOTAL ASSETS	$	32,789	$	32,030
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	8	$	8
Short-term debt	889		490
Accounts and wages payable	581		958
Taxes accrued	128		82
Interest accrued	84		114
Current regulatory liabilities	225		121
Other current liabilities	392		407
Total current liabilities	2,307		2,180
Long-term Debt, Net	11,527		11,078
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,253		3,211
Regulatory liabilities	5,230		5,282
Asset retirement obligations	705		696
Pension and other postretirement benefits	38		37
Other deferred credits and liabilities	452		466
Total deferred credits and other liabilities	9,678		9,692
Ameren Corporation Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,295		6,179
Retained earnings	2,850		2,757
Accumulated other comprehensive loss	—		(1)
Total Ameren Corporation shareholders’ equity	9,148		8,938
Noncontrolling Interests	129		142
Total equity	9,277		9,080
TOTAL LIABILITIES AND EQUITY	$	32,789	$	32,030

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Three Months Ended March 31,
	2021		2020
Cash Flows From Operating Activities:
Net income	$	235	$	148
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	295		263
Amortization of nuclear fuel	—		23
Amortization of debt issuance costs and premium/discounts	5		5
Deferred income taxes and investment tax credits, net	26		23
Allowance for equity funds used during construction	(7)		(4)
Stock-based compensation costs	6		6
Other	8		17
Changes in assets and liabilities	(603)		(191)
Net cash provided by (used in) operating activities	(35)		290
Cash Flows From Investing Activities:
Capital expenditures	(694)		(636)
Wind generation expenditures	(193)		—
Nuclear fuel expenditures	(1)		(35)
Purchases of securities – nuclear decommissioning trust fund	(152)		(96)
Sales and maturities of securities – nuclear decommissioning trust fund	150		81
Other	1		2
Net cash used in investing activities	(889)		(684)
Cash Flows From Financing Activities:
Dividends on common stock	(140)		(122)
Dividends paid to noncontrolling interest holders	(2)		(2)
Short-term debt, net	399		175
Maturities of long-term debt	—		(85)
Issuances of long-term debt	450		465
Issuances of common stock	125		13
Redemptions of Ameren Illinois preferred stock	(13)		—
Employee payroll taxes related to stock-based compensation	(17)		(20)
Debt issuance costs	(3)		(3)
Other	(4)		—
Net cash provided by financing activities	795		421
Net change in cash, cash equivalents, and restricted cash	(129)		27
Cash, cash equivalents, and restricted cash at beginning of year	301		176
Cash, cash equivalents, and restricted cash at end of period	$	172	$	203