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

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,
	2021		2020		2021		2020
Operating Revenues:
Electric	$	1,668	$	1,489	$	4,108	$	3,846
Natural gas	143		139		741		620
Total operating revenues	1,811		1,628		4,849		4,466
Operating Expenses:
Fuel	184		141		422		400
Purchased power	159		140		479		383
Natural gas purchased for resale	45		34		275		183
Other operations and maintenance	457		418		1,289		1,240
Depreciation and amortization	290		273		856		799
Taxes other than income taxes	142		128		392		372
Total operating expenses	1,277		1,134		3,713		3,377
Operating Income	534		494		1,136		1,089
Other Income, Net	56		48		151		117
Interest Charges	94		110		290		311
Income Before Income Taxes	496		432		997		895
Income Taxes	70		63		128		134
Net Income	426		369		869		761
Less: Net Income Attributable to Noncontrolling Interests	1		2		4		5
Net Income Attributable to Ameren Common Shareholders	$	425	$	367	$	865	$	756
Earnings per Common Share – Basic	$	1.66	$	1.48	$	3.38	$	3.06
Earnings per Common Share – Diluted	$	1.65	$	1.47	$	3.36	$	3.04
Weighted-average Common Shares Outstanding – Basic	257.3		247.1		255.9		246.8
Weighted-average Common Shares Outstanding – Diluted	258.6		249.2		257.2		248.4

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	September 30, 2021		December 31, 2020
ASSETS
Current Assets:
Cash and cash equivalents	$	7	$	139
Accounts receivable - trade (less allowance for doubtful accounts)	515		415
Unbilled revenue	332		269
Miscellaneous accounts receivable	111		65
Inventories	595		521
Current regulatory assets	359		109
Other current assets	285		135
Total current assets	2,204		1,653
Property, Plant, and Equipment, Net	28,559		26,807
Investments and Other Assets:
Nuclear decommissioning trust fund	1,076		982
Goodwill	411		411
Regulatory assets	1,235		1,100
Other assets	1,180		1,077
Total investments and other assets	3,902		3,570
TOTAL ASSETS	$	34,665	$	32,030
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	57	$	8
Short-term debt	553		490
Accounts and wages payable	811		958
Taxes accrued	231		82
Interest accrued	103		114
Current regulatory liabilities	138		121
Other current liabilities	464		407
Total current liabilities	2,357		2,180
Long-term Debt, Net	12,444		11,078
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,465		3,211
Regulatory liabilities	5,425		5,282
Asset retirement obligations	705		696
Pension and other postretirement benefits	39		37
Other deferred credits and liabilities	416		466
Total deferred credits and other liabilities	10,050		9,692
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,483		6,179
Retained earnings	3,199		2,757
Accumulated other comprehensive loss	—		(1)
Total shareholders’ equity	9,685		8,938
Noncontrolling Interests	129		142
Total equity	9,814		9,080
TOTAL LIABILITIES AND EQUITY	$	34,665	$	32,030

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Nine Months Ended September 30,
	2021		2020
Cash Flows From Operating Activities:
Net income	$	869	$	761
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	903		802
Amortization of nuclear fuel	37		68
Amortization of debt issuance costs and premium/discounts	17		16
Deferred income taxes and investment tax credits, net	139		125
Allowance for equity funds used during construction	(30)		(25)
Stock-based compensation costs	17		16
Other	11		14
Changes in assets and liabilities	(771)		(448)
Net cash provided by operating activities	1,192		1,329
Cash Flows From Investing Activities:
Capital expenditures	(2,098)		(1,884)
Wind generation expenditures	(515)		—
Nuclear fuel expenditures	(19)		(61)
Purchases of securities – nuclear decommissioning trust fund	(411)		(169)
Sales and maturities of securities – nuclear decommissioning trust fund	404		135
Other	(7)		(2)
Net cash used in investing activities	(2,646)		(1,981)
Cash Flows From Financing Activities:
Dividends on common stock	(423)		(367)
Dividends paid to noncontrolling interest holders	(4)		(5)
Short-term debt, net	63		(168)
Maturities of long-term debt	—		(85)
Issuances of long-term debt	1,423		1,263
Issuances of common stock	297		37
Redemptions of Ameren Illinois preferred stock	(13)		—
Employee payroll taxes related to stock-based compensation	(17)		(20)
Debt issuance costs	(15)		(11)
Other	(13)		—
Net cash provided by financing activities	1,298		644
Net change in cash, cash equivalents, and restricted cash	(156)		(8)
Cash, cash equivalents, and restricted cash at beginning of year	301		176
Cash, cash equivalents, and restricted cash at end of period	$	145	$	168