Ameren (AEE) 8-K Ameren Announces First Quarter 2022 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended March 31,
		2022		2021
Operating Revenues:
Electric		$	1,318	$	1,156
Natural gas		561		410
Total operating revenues		1,879		1,566
Operating Expenses:
Fuel		176		65
Purchased power		177		191
Natural gas purchased for resale		293		165
Other operations and maintenance		461		420
Depreciation and amortization		299		281
Taxes other than income taxes		142		128
Total operating expenses		1,548		1,250
Operating Income		331		316
Other Income, Net		60		46
Interest Charges		104		100
Income Before Income Taxes		287		262
Income Taxes		34		27
Net Income		253		235
Less: Net Income Attributable to Noncontrolling Interests		1		2
Net Income Attributable to Ameren Common Shareholders		$	252	$	233
Earnings per Common Share – Basic		$	0.98	$	0.92
Earnings per Common Share – Diluted		$	0.97	$	0.91
Weighted-average Common Shares Outstanding – Basic		257.9		254.4
Weighted-average Common Shares Outstanding – Diluted		259.0		255.9

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	March 31, 2022		December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents	$	7	$	8
Accounts receivable - trade (less allowance for doubtful accounts)	560		434
Unbilled revenue	283		301
Miscellaneous accounts receivable	87		85
Inventories	520		592
Mark-to-market derivative assets	137		66
Current regulatory assets	244		319
Current collateral assets	110		66
Other current assets	83		97
Total current assets	2,031		1,968
Property, Plant, and Equipment, Net	29,578		29,261
Investments and Other Assets:
Nuclear decommissioning trust fund	1,094		1,159
Goodwill	411		411
Regulatory assets	1,377		1,289
Pension and other postretirement benefits	772		756
Other assets	934		891
Total investments and other assets	4,588		4,506
TOTAL ASSETS	$	36,197	$	35,735
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	505	$	505
Short-term debt	1,101		545
Accounts and wages payable	690		1,095
Current regulatory liabilities	219		113
Other current liabilities	630		568
Total current liabilities	3,145		2,826
Long-term Debt, Net	12,563		12,562
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,550		3,499
Regulatory liabilities	5,841		5,848
Asset retirement obligations	769		757
Other deferred credits and liabilities	394		414
Total deferred credits and other liabilities	10,554		10,518
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,507		6,502
Retained earnings	3,282		3,182
Accumulated other comprehensive income	14		13
Total shareholders’ equity	9,806		9,700
Noncontrolling Interests	129		129
Total equity	9,935		9,829
TOTAL LIABILITIES AND EQUITY	$	36,197	$	35,735

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Three Months Ended March 31,
	2022		2021
Cash Flows From Operating Activities:
Net income	$	253	$	235
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	324		295
Amortization of nuclear fuel	22		—
Amortization of debt issuance costs and premium/discounts	4		5
Deferred income taxes and investment tax credits, net	31		26
Allowance for equity funds used during construction	(8)		(7)
Stock-based compensation costs	4		6
Other	11		8
Changes in assets and liabilities	(253)		(603)
Net cash provided by (used in) operating activities	388		(35)
Cash Flows From Investing Activities:
Capital expenditures	(774)		(887)
Nuclear fuel expenditures	(16)		(1)
Purchases of securities – nuclear decommissioning trust fund	(97)		(152)
Sales and maturities of securities – nuclear decommissioning trust fund	92		150
Other	15		1
Net cash used in investing activities	(780)		(889)
Cash Flows From Financing Activities:
Dividends on common stock	(152)		(140)
Dividends paid to noncontrolling interest holders	(1)		(2)
Short-term debt, net	555		399
Issuances of long-term debt	—		450
Issuances of common stock	5		125
Redemptions of Ameren Illinois preferred stock	—		(13)
Employee payroll taxes related to stock-based compensation	(16)		(17)
Debt issuance costs	—		(3)
Other	—		(4)
Net cash provided by financing activities	391		795
Net change in cash, cash equivalents, and restricted cash	(1)		(129)
Cash, cash equivalents, and restricted cash at beginning of year	155		301
Cash, cash equivalents, and restricted cash at end of period	$	154	$	172