Ameren (AEE) 8-K Ameren Announces Third Quarter 2023 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,
	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