Ameren (AEE) 8-K Ameren Announces Second Quarter 2023 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,
	2023		2022		2023		2022
Operating Revenues:
Electric	$	1,585	$	1,513	$	3,175	$	2,831
Natural gas	175		213		647		774
Total operating revenues	1,760		1,726		3,822		3,605
Operating Expenses:
Fuel	152		83		265		259
Purchased power	328		318		823		495
Natural gas purchased for resale	42		80		250		373
Other operations and maintenance	450		491		898		952
Depreciation and amortization	335		316		655		615
Taxes other than income taxes	124		129		251		271
Total operating expenses	1,431		1,417		3,142		2,965
Operating Income	329		309		680		640
Other Income, Net	82		62		160		122
Interest Charges	134		126		261		230
Income Before Income Taxes	277		245		579		532
Income Taxes	38		36		75		70
Net Income	239		209		504		462
Less: Net Income Attributable to Noncontrolling Interests	2		2		3		3
Net Income Attributable to Ameren Common Shareholders	$	237	$	207	$	501	$	459
Earnings per Common Share – Basic	$	0.90	$	0.80	$	1.91	$	1.78
Earnings per Common Share – Diluted	$	0.90	$	0.80	$	1.90	$	1.77
Weighted-average Common Shares Outstanding – Basic	262.6		258.2		262.4		258.0
Weighted-average Common Shares Outstanding – Diluted	263.2		259.4		263.2		259.2

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30, 2023		December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents	$	7	$	10
Accounts receivable - trade (less allowance for doubtful accounts)	482		600
Unbilled revenue	378		446
Miscellaneous accounts receivable	63		54
Inventories	711		667
Current regulatory assets	239		354
Investment in industrial development revenue bonds	—		240
Current collateral assets	20		142
Other current assets	119		155
Total current assets	2,019		2,668
Property, Plant, and Equipment, Net	32,351		31,262
Investments and Other Assets:
Nuclear decommissioning trust fund	1,075		958
Goodwill	411		411
Regulatory assets	1,790		1,426
Pension and other postretirement benefits	442		411
Other assets	859		768
Total investments and other assets	4,577		3,974
TOTAL ASSETS	$	38,947	$	37,904
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	350	$	340
Short-term debt	1,329		1,070
Accounts and wages payable	719		1,159
Other current liabilities	845		797
Total current liabilities	3,243		3,366
Long-term Debt, Net	14,328		13,685
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net	3,913		3,804
Regulatory liabilities	5,445		5,309
Asset retirement obligations	775		763
Other deferred credits and liabilities	417		340
Total deferred credits and other liabilities	10,550		10,216
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	6,880		6,860
Retained earnings	3,817		3,646
Accumulated other comprehensive loss	(3)		(1)
Total shareholders’ equity	10,697		10,508
Noncontrolling Interests	129		129
Total equity	10,826		10,637
TOTAL LIABILITIES AND EQUITY	$	38,947	$	37,904

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended June 30,
	2023		2022
Cash Flows From Operating Activities:
Net income	$	504	$	462
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	703		665
Amortization of nuclear fuel	36		28
Amortization of debt issuance costs and premium/discounts	8		12
Deferred income taxes and investment tax credits, net	66		66
Allowance for equity funds used during construction	(23)		(19)
Stock-based compensation costs	14		12
Other	(19)		33
Changes in assets and liabilities	(178)		(387)
Net cash provided by operating activities	1,111		872
Cash Flows From Investing Activities:
Capital expenditures	(1,822)		(1,538)
Nuclear fuel expenditures	(50)		(22)
Purchases of securities – nuclear decommissioning trust fund	(81)		(122)
Sales and maturities of securities – nuclear decommissioning trust fund	65		114
Other	(1)		16
Net cash used in investing activities	(1,889)		(1,552)
Cash Flows From Financing Activities:
Dividends on common stock	(330)		(305)
Dividends paid to noncontrolling interest holders	(3)		(3)
Short-term debt, net	260		475
Maturities of long-term debt	(100)		—
Issuances of long-term debt	997		524
Issuances of common stock	16		17
Employee payroll taxes related to stock-based compensation	(20)		(16)
Debt issuance costs	(9)		(6)
Other	(3)		—
Net cash provided by financing activities	808		686
Net change in cash, cash equivalents, and restricted cash	30		6
Cash, cash equivalents, and restricted cash at beginning of year	216		155
Cash, cash equivalents, and restricted cash at end of period	$	246	$	161