Ameren (AEE) 8-K Ameren Announces 2021 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,
	2021		2020		2021		2020
Operating Revenues:
Electric	$	1,189	$	1,065	$	5,297	$	4,911
Natural gas	356		263		1,097		883
Total operating revenues	1,545		1,328		6,394		5,794
Operating Expenses:
Fuel	159		90		581		490
Purchased power	127		130		606		513
Natural gas purchased for resale	167		89		442		272
Other operations and maintenance	485		421		1,774		1,661
Depreciation and amortization	290		276		1,146		1,075
Taxes other than income taxes	120		111		512		483
Total operating expenses	1,348		1,117		5,061		4,494
Operating Income	197		211		1,333		1,300
Other Income, Net	51		34		202		151
Interest Charges	93		108		383		419
Income Before Income Taxes	155		137		1,152		1,032
Income Taxes	29		21		157		155
Net Income	126		116		995		877
Less: Net Income Attributable to Noncontrolling Interests	1		1		5		6
Net Income Attributable to Ameren Common Shareholders	$	125	$	115	$	990	$	871
Earnings per Common Share – Basic	$	0.48	$	0.47	$	3.86	$	3.53
Earnings per Common Share – Diluted	$	0.48	$	0.46	$	3.84	$	3.50
Weighted-average Common Shares Outstanding – Basic	257.6		247.4		256.3		247.0
Weighted-average Common Shares Outstanding – Diluted	258.9		249.7		257.6		248.7

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2021		December 31, 2020
ASSETS
Current Assets:
Cash and cash equivalents	$	8	$	139
Accounts receivable - trade (less allowance for doubtful accounts)	434		415
Unbilled revenue	301		269
Miscellaneous accounts receivable	85		65
Inventories	592		521
Current regulatory assets	319		109
Other current assets	229		135
Total current assets	1,968		1,653
Property, Plant, and Equipment, Net	29,261		26,807
Investments and Other Assets:
Nuclear decommissioning trust fund	1,159		982
Goodwill	411		411
Regulatory assets	1,289		1,100
Pension and other postretirement benefits	756		288
Other assets	891		789
Total investments and other assets	4,506		3,570
TOTAL ASSETS	$	35,735	$	32,030
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	505	$	8
Short-term debt	545		490
Accounts and wages payable	1,095		958
Interest accrued	123		114
Current regulatory liabilities	113		121
Other current liabilities	445		489
Total current liabilities	2,826		2,180
Long-term Debt, Net	12,562		11,078
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	3,499		3,211
Regulatory liabilities	5,848		5,282
Asset retirement obligations	757		696
Other deferred credits and liabilities	414		503
Total deferred credits and other liabilities	10,518		9,692
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,502		6,179
Retained earnings	3,182		2,757
Accumulated other comprehensive income (loss)	13		(1)
Total shareholders’ equity	9,700		8,938
Noncontrolling Interests	129		142
Total equity	9,829		9,080
TOTAL LIABILITIES AND EQUITY	$	35,735	$	32,030

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2021		2020
Cash Flows From Operating Activities:
Net income	$	995	$	877
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,219		1,085
Amortization of nuclear fuel	58		68
Amortization of debt issuance costs and premium/discounts	23		22
Deferred income taxes and investment tax credits, net	156		148
Allowance for equity funds used during construction	(43)		(32)
Stock-based compensation costs	22		21
Other	19		22
Changes in assets and liabilities	(788)		(484)
Net cash provided by operating activities	1,661		1,727
Cash Flows From Investing Activities:
Capital expenditures	(2,954)		(2,669)
Wind generation expenditures	(525)		(564)
Nuclear fuel expenditures	(44)		(66)
Purchases of securities – nuclear decommissioning trust fund	(452)		(224)
Sales and maturities of securities – nuclear decommissioning trust fund	439		183
Other	8		11
Net cash used in investing activities	(3,528)		(3,329)
Cash Flows From Financing Activities:
Dividends on common stock	(565)		(494)
Dividends paid to noncontrolling interest holders	(5)		(6)
Short-term debt, net	55		50
Maturities of long-term debt	(8)		(442)
Issuances of long-term debt	1,997		2,183
Issuances of common stock	308		476
Redemptions of Ameren Illinois preferred stock	(13)		—
Employee payroll taxes related to stock-based compensation	(17)		(20)
Debt issuance costs	(18)		(20)
Other	(13)		—
Net cash provided by financing activities	1,721		1,727
Net change in cash, cash equivalents, and restricted cash	(146)		125
Cash, cash equivalents, and restricted cash at beginning of year	301		176
Cash, cash equivalents, and restricted cash at end of year	$	155	$	301