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, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||||
Electric | $ | 1,921 | $ | 2,140 | $ | 5,096 | $ | 4,971 | |||||||||||||||
Natural gas | 139 | 166 | 786 | 940 | |||||||||||||||||||
Total operating revenues | 2,060 | 2,306 | 5,882 | 5,911 | |||||||||||||||||||
Operating Expenses: | |||||||||||||||||||||||
Fuel | 158 | 117 | 423 | 376 | |||||||||||||||||||
Purchased power | 272 | 563 | 1,095 | 1,058 | |||||||||||||||||||
Natural gas purchased for resale | 30 | 58 | 280 | 431 | |||||||||||||||||||
Other operations and maintenance | 470 | 475 | 1,368 | 1,427 | |||||||||||||||||||
Depreciation and amortization | 369 | 350 | 1,024 | 965 | |||||||||||||||||||
Taxes other than income taxes | 147 | 144 | 398 | 415 | |||||||||||||||||||
Total operating expenses | 1,446 | 1,707 | 4,588 | 4,672 | |||||||||||||||||||
Operating Income | 614 | 599 | 1,294 | 1,239 | |||||||||||||||||||
Other Income, Net | 101 | 58 | 261 | 180 | |||||||||||||||||||
Interest Charges | 152 | 126 | 413 | 356 | |||||||||||||||||||
Income Before Income Taxes | 563 | 531 | 1,142 | 1,063 | |||||||||||||||||||
Income Taxes | 69 | 78 | 144 | 148 | |||||||||||||||||||
Net Income | 494 | 453 | 998 | 915 | |||||||||||||||||||
Less: Net Income Attributable to Noncontrolling Interests | 1 | 1 | 4 | 4 | |||||||||||||||||||
Net Income Attributable to Ameren Common Shareholders | $ | 493 | $ | 452 | $ | 994 | $ | 911 | |||||||||||||||
Earnings per Common Share – Basic | $ | 1.88 | $ | 1.75 | $ | 3.79 | $ | 3.53 | |||||||||||||||
Earnings per Common Share – Diluted | $ | 1.87 | $ | 1.74 | $ | 3.78 | $ | 3.51 | |||||||||||||||
Weighted-average Common Shares Outstanding – Basic | 262.8 | 258.4 | 262.5 | 258.2 | |||||||||||||||||||
Weighted-average Common Shares Outstanding – Diluted | 263.4 | 259.5 | 263.2 | 259.3 |
AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
September 30, 2023 | December 31, 2022 | ||||||||||
ASSETS | |||||||||||
Current Assets: | |||||||||||
Cash and cash equivalents | $ | 8 | $ | 10 | |||||||
Accounts receivable - trade (less allowance for doubtful accounts) | 597 | 600 | |||||||||
Unbilled revenue | 360 | 446 | |||||||||
Miscellaneous accounts receivable | 65 | 54 | |||||||||
Inventories | 760 | 667 | |||||||||
Current regulatory assets | 157 | 354 | |||||||||
Investment in industrial development revenue bonds | — | 240 | |||||||||
Current collateral assets | 13 | 142 | |||||||||
Other current assets | 124 | 155 | |||||||||
Total current assets | 2,084 | 2,668 | |||||||||
Property, Plant, and Equipment, Net | 32,938 | 31,262 | |||||||||
Investments and Other Assets: | |||||||||||
Nuclear decommissioning trust fund | 1,042 | 958 | |||||||||
Goodwill | 411 | 411 | |||||||||
Regulatory assets | 1,772 | 1,426 | |||||||||
Pension and other postretirement benefits | 470 | 411 | |||||||||
Other assets | 882 | 768 | |||||||||
Total investments and other assets | 4,577 | 3,974 | |||||||||
TOTAL ASSETS | $ | 39,599 | $ | 37,904 | |||||||
LIABILITIES AND EQUITY | |||||||||||
Current Liabilities: | |||||||||||
Current maturities of long-term debt | $ | 849 | $ | 340 | |||||||
Short-term debt | 1,340 | 1,070 | |||||||||
Accounts and wages payable | 955 | 1,159 | |||||||||
Taxes accrued | 209 | 59 | |||||||||
Other current liabilities | 664 | 738 | |||||||||
Total current liabilities | 4,017 | 3,366 | |||||||||
Long-term Debt, Net | 13,829 | 13,685 | |||||||||
Deferred Credits and Other Liabilities: | |||||||||||
Accumulated deferred income taxes and tax credits, net | 4,068 | 3,804 | |||||||||
Regulatory liabilities | 5,336 | 5,309 | |||||||||
Asset retirement obligations | 761 | 763 | |||||||||
Other deferred credits and liabilities | 416 | 340 | |||||||||
Total deferred credits and other liabilities | 10,581 | 10,216 | |||||||||
Shareholders’ Equity: | |||||||||||
Common stock | 3 | 3 | |||||||||
Other paid-in capital, principally premium on common stock | 6,900 | 6,860 | |||||||||
Retained earnings | 4,144 | 3,646 | |||||||||
Accumulated other comprehensive loss | (4) | (1) | |||||||||
Total shareholders’ equity | 11,043 | 10,508 | |||||||||
Noncontrolling Interests | 129 | 129 | |||||||||
Total equity | 11,172 | 10,637 | |||||||||
TOTAL LIABILITIES AND EQUITY | $ | 39,599 | $ | 37,904 |
AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
Nine Months Ended September 30, | |||||||||||
2023 | 2022 | ||||||||||
Cash Flows From Operating Activities: | |||||||||||
Net income | $ | 998 | $ | 915 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 1,063 | 1,016 | |||||||||
Amortization of nuclear fuel | 56 | 46 | |||||||||
Amortization of debt issuance costs and premium/discounts | 12 | 17 | |||||||||
Deferred income taxes and investment tax credits, net | 128 | 137 | |||||||||
Allowance for equity funds used during construction | (39) | (31) | |||||||||
Stock-based compensation costs | 21 | 18 | |||||||||
Other | 12 | 63 | |||||||||
Changes in assets and liabilities | (220) | (582) | |||||||||
Net cash provided by operating activities | 2,031 | 1,599 | |||||||||
Cash Flows From Investing Activities: | |||||||||||
Capital expenditures | (2,571) | (2,437) | |||||||||
Nuclear fuel expenditures | (63) | (22) | |||||||||
Purchases of securities – nuclear decommissioning trust fund | (156) | (176) | |||||||||
Sales and maturities of securities – nuclear decommissioning trust fund | 136 | 163 | |||||||||
Other | (2) | 14 | |||||||||
Net cash used in investing activities | (2,656) | (2,458) | |||||||||
Cash Flows From Financing Activities: | |||||||||||
Dividends on common stock | (496) | (457) | |||||||||
Dividends paid to noncontrolling interest holders | (4) | (4) | |||||||||
Short-term debt, net | 272 | 675 | |||||||||
Maturities of long-term debt | (100) | (450) | |||||||||
Issuances of long-term debt | 997 | 1,118 | |||||||||
Issuances of common stock | 28 | 29 | |||||||||
Employee payroll taxes related to stock-based compensation | (20) | (16) | |||||||||
Debt issuance costs | (12) | (11) | |||||||||
Other | (10) | — | |||||||||
Net cash provided by financing activities | 655 | 884 | |||||||||
Net change in cash, cash equivalents, and restricted cash | 30 | 25 | |||||||||
Cash, cash equivalents, and restricted cash at beginning of year | 216 | 155 | |||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 246 | $ | 180 |