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

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Operating Revenues:
Electric	$	1,284	$	1,237	$	2,440	$	2,357
Natural gas	188		161		598		481
Total operating revenues	1,472		1,398		3,038		2,838
Operating Expenses:
Fuel	173		119		238		259
Purchased power	129		109		320		243
Natural gas purchased for resale	65		42		230		149
Other operations and maintenance	412		384		832		822
Depreciation and amortization	285		271		566		526
Taxes other than income taxes	122		119		250		244
Total operating expenses	1,186		1,044		2,436		2,243
Operating Income	286		354		602		595
Other Income, Net	49		48		95		69
Interest Charges	96		108		196		201
Income Before Income Taxes	239		294		501		463
Income Taxes	31		50		58		71
Net Income	208		244		443		392
Less: Net Income Attributable to Noncontrolling Interests	1		1		3		3
Net Income Attributable to Ameren Common Shareholders	$	207	$	243	$	440	$	389
Earnings per Common Share – Basic	$	0.81	$	0.99	$	1.72	$	1.58
Earnings per Common Share – Diluted	$	0.80	$	0.98	$	1.71	$	1.57
Weighted-average Common Shares Outstanding – Basic	256.1		246.9		255.2		246.7
Weighted-average Common Shares Outstanding – Diluted	257.2		247.9		256.5		248.0

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30, 2021		December 31, 2020
ASSETS
Current Assets:
Cash and cash equivalents	$	99	$	139
Accounts receivable - trade (less allowance for doubtful accounts)	397		415
Unbilled revenue	339		269
Miscellaneous accounts receivable	105		65
Inventories	527		521
Restricted cash	131		17
Current regulatory assets	353		109
Other current assets	165		118
Total current assets	2,116		1,653
Property, Plant, and Equipment, Net	28,020		26,807
Investments and Other Assets:
Nuclear decommissioning trust fund	1,070		982
Goodwill	411		411
Regulatory assets	1,272		1,100
Other assets	1,027		1,077
Total investments and other assets	3,780		3,570
TOTAL ASSETS	$	33,916	$	32,030
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	8	$	8
Short-term debt	431		490
Accounts and wages payable	779		958
Taxes accrued	178		82
Interest accrued	129		114
Current regulatory liabilities	238		121
Other current liabilities	414		407
Total current liabilities	2,177		2,180
Long-term Debt, Net	12,492		11,078
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,309		3,211
Regulatory liabilities	5,258		5,282
Asset retirement obligations	712		696
Pension and other postretirement benefits	39		37
Other deferred credits and liabilities	447		466
Total deferred credits and other liabilities	9,765		9,692
Ameren Corporation Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,436		6,179
Retained earnings	2,915		2,757
Accumulated other comprehensive loss	(1)		(1)
Total Ameren Corporation shareholders’ equity	9,353		8,938
Noncontrolling Interests	129		142
Total equity	9,482		9,080
TOTAL LIABILITIES AND EQUITY	$	33,916	$	32,030

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended June 30,
	2021		2020
Cash Flows From Operating Activities:
Net income	$	443	$	392
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	596		532
Amortization of nuclear fuel	20		45
Amortization of debt issuance costs and premium/discounts	11		11
Deferred income taxes and investment tax credits, net	59		68
Allowance for equity funds used during construction	(16)		(13)
Stock-based compensation costs	11		11
Other	2		5
Changes in assets and liabilities	(690)		(357)
Net cash provided by operating activities	436		694
Cash Flows From Investing Activities:
Capital expenditures	(1,346)		(1,228)
Wind generation expenditures	(417)		—
Nuclear fuel expenditures	(4)		(56)
Purchases of securities – nuclear decommissioning trust fund	(203)		(153)
Sales and maturities of securities – nuclear decommissioning trust fund	208		121
Other	2		1
Net cash used in investing activities	(1,760)		(1,315)
Cash Flows From Financing Activities:
Dividends on common stock	(282)		(244)
Dividends paid to noncontrolling interest holders	(3)		(3)
Short-term debt, net	(59)		(320)
Maturities of long-term debt	—		(85)
Issuances of long-term debt	1,423		1,263
Issuances of common stock	258		27
Redemptions of Ameren Illinois preferred stock	(13)		—
Employee payroll taxes related to stock-based compensation	(17)		(20)
Debt issuance costs	(13)		(10)
Other	(4)		—
Net cash provided by financing activities	1,290		608
Net change in cash, cash equivalents, and restricted cash	(34)		(13)
Cash, cash equivalents, and restricted cash at beginning of year	301		176
Cash, cash equivalents, and restricted cash at end of period	$	267	$	163