Ameren (AEE) 8-K Ameren Announces Third Quarter 2022 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,
	2022		2021		2022		2021
Operating Revenues:
Electric	$	2,140	$	1,668	$	4,971	$	4,108
Natural gas	166		143		940		741
Total operating revenues	2,306		1,811		5,911		4,849
Operating Expenses:
Fuel	117		184		376		422
Purchased power	563		159		1,058		479
Natural gas purchased for resale	58		45		431		275
Other operations and maintenance	475		457		1,427		1,289
Depreciation and amortization	350		290		965		856
Taxes other than income taxes	144		142		415		392
Total operating expenses	1,707		1,277		4,672		3,713
Operating Income	599		534		1,239		1,136
Other Income, Net	58		56		180		151
Interest Charges	126		94		356		290
Income Before Income Taxes	531		496		1,063		997
Income Taxes	78		70		148		128
Net Income	453		426		915		869
Less: Net Income Attributable to Noncontrolling Interests	1		1		4		4
Net Income Attributable to Ameren Common Shareholders	$	452	$	425	$	911	$	865
Earnings per Common Share – Basic	$	1.75	$	1.66	$	3.53	$	3.38
Earnings per Common Share – Diluted	$	1.74	$	1.65	$	3.51	$	3.36
Weighted-average Common Shares Outstanding – Basic	258.4		257.3		258.2		255.9
Weighted-average Common Shares Outstanding – Diluted	259.5		258.6		259.3		257.2

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	September 30, 2022		December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents	$	7	$	8
Accounts receivable - trade (less allowance for doubtful accounts)	665		434
Unbilled revenue	366		301
Miscellaneous accounts receivable	62		85
Inventories	695		592
Current regulatory assets	346		319
Current collateral assets	145		66
Other current assets	232		163
Total current assets	2,518		1,968
Property, Plant, and Equipment, Net	30,608		29,261
Investments and Other Assets:
Nuclear decommissioning trust fund	910		1,159
Goodwill	411		411
Regulatory assets	1,405		1,289
Pension and other postretirement benefits	813		756
Other assets	992		891
Total investments and other assets	4,531		4,506
TOTAL ASSETS	$	37,657	$	35,735
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	155	$	505
Short-term debt	1,221		545
Accounts and wages payable	820		1,095
Taxes accrued	216		74
Current regulatory liabilities	179		113
Other current liabilities	584		494
Total current liabilities	3,175		2,826
Long-term Debt, Net	13,577		12,562
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,785		3,499
Regulatory liabilities	5,658		5,848
Asset retirement obligations	771		757
Other deferred credits and liabilities	361		414
Total deferred credits and other liabilities	10,575		10,518
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,548		6,502
Retained earnings	3,636		3,182
Accumulated other comprehensive income	14		13
Total shareholders’ equity	10,201		9,700
Noncontrolling Interests	129		129
Total equity	10,330		9,829
TOTAL LIABILITIES AND EQUITY	$	37,657	$	35,735

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Nine Months Ended September 30,
	2022		2021
Cash Flows From Operating Activities:
Net income	$	915	$	869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,016		903
Amortization of nuclear fuel	46		37
Amortization of debt issuance costs and premium/discounts	17		17
Deferred income taxes and investment tax credits, net	137		139
Allowance for equity funds used during construction	(31)		(30)
Stock-based compensation costs	18		17
Other	63		11
Changes in assets and liabilities	(582)		(771)
Net cash provided by operating activities	1,599		1,192
Cash Flows From Investing Activities:
Capital expenditures	(2,437)		(2,613)
Nuclear fuel expenditures	(22)		(19)
Purchases of securities – nuclear decommissioning trust fund	(176)		(411)
Sales and maturities of securities – nuclear decommissioning trust fund	163		404
Other	14		(7)
Net cash used in investing activities	(2,458)		(2,646)
Cash Flows From Financing Activities:
Dividends on common stock	(457)		(423)
Dividends paid to noncontrolling interest holders	(4)		(4)
Short-term debt, net	675		63
Maturities of long-term debt	(450)		—
Issuances of long-term debt	1,118		1,423
Issuances of common stock	29		297
Redemptions of Ameren Illinois preferred stock	—		(13)
Employee payroll taxes related to stock-based compensation	(16)		(17)
Debt issuance costs	(11)		(15)
Other	—		(13)
Net cash provided by financing activities	884		1,298
Net change in cash, cash equivalents, and restricted cash	25		(156)
Cash, cash equivalents, and restricted cash at beginning of year	155		301
Cash, cash equivalents, and restricted cash at end of period	$	180	$	145