Ameren (AEE) 8-K Ameren Announces 2023 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended December 31,				Year Ended December 31,
	2023		2022		2023		2022
Operating Revenues:
Electric	$	1,343	$	1,610	$	6,439	$	6,581
Natural gas	275		436		1,061		1,376
Total operating revenues	1,618		2,046		7,500		7,957
Operating Expenses:
Fuel	91		97		514		473
Purchased power	203		489		1,298		1,547
Natural gas purchased for resale	75		226		355		657
Other operations and maintenance	498		510		1,866		1,937
Depreciation and amortization	363		324		1,387		1,289
Taxes other than income taxes	124		124		522		539
Total operating expenses	1,354		1,770		5,942		6,442
Operating Income	264		276		1,558		1,515
Other Income, Net	87		46		348		226
Interest Charges	153		130		566		486
Income Before Income Taxes	198		192		1,340		1,255
Income Taxes	39		28		183		176
Net Income	159		164		1,157		1,079
Less: Net Income Attributable to Noncontrolling Interests	1		1		5		5
Net Income Attributable to Ameren Common Shareholders	$	158	$	163	$	1,152	$	1,074
Earnings per Common Share – Basic	$	0.60	$	0.63	$	4.39	$	4.16
Earnings per Common Share – Diluted	$	0.60	$	0.63	$	4.38	$	4.14
Weighted-average Common Shares Outstanding – Basic	263.5		259.1		262.8		258.4
Weighted-average Common Shares Outstanding – Diluted	264.0		260.2		263.4		259.5

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2023		December 31, 2022
ASSETS
Current Assets:
Cash and cash equivalents	$	25	$	10
Accounts receivable - trade (less allowance for doubtful accounts)	494		600
Unbilled revenue	319		446
Miscellaneous accounts receivable	106		54
Inventories	733		667
Current regulatory assets	365		354
Investments in industrial development revenue bonds	—		240
Current collateral assets	14		142
Other current assets	125		155
Total current assets	2,181		2,668
Property, Plant, and Equipment, Net	33,776		31,262
Investments and Other Assets:
Nuclear decommissioning trust fund	1,150		958
Goodwill	411		411
Regulatory assets	1,810		1,426
Pension and other postretirement benefits	581		411
Other assets	921		768
Total investments and other assets	4,873		3,974
TOTAL ASSETS	$	40,830	$	37,904
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	849	$	340
Short-term debt	536		1,070
Accounts and wages payable	1,136		1,159
Customer deposits	176		115
Other current liabilities	648		682
Total current liabilities	3,345		3,366
Long-term Debt, Net	15,121		13,685
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	4,176		3,804
Regulatory liabilities	5,512		5,309
Asset retirement obligations	772		763
Other deferred credits and liabilities	426		340
Total deferred credits and other liabilities	10,886		10,216
Shareholders’ Equity:
Common stock	3		3
Other paid-in capital, principally premium on common stock	7,216		6,860
Retained earnings	4,136		3,646
Accumulated other comprehensive loss	(6)		(1)
Total shareholders’ equity	11,349		10,508
Noncontrolling Interests	129		129
Total equity	11,478		10,637
TOTAL LIABILITIES AND EQUITY	$	40,830	$	37,904

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2023		2022
Cash Flows From Operating Activities:
Net income	$	1,157	$	1,079
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,432		1,373
Amortization of nuclear fuel	68		65
Amortization of debt issuance costs and premium/discounts	16		21
Deferred income taxes and investment tax credits, net	229		170
Allowance for equity funds used during construction	(54)		(43)
Stock-based compensation costs	26		24
Other	16		68
Changes in assets and liabilities	(326)		(494)
Net cash provided by operating activities	2,564		2,263
Cash Flows From Investing Activities:
Capital expenditures	(3,597)		(3,351)
Nuclear fuel expenditures	(174)		(29)
Purchases of securities – nuclear decommissioning trust fund	(266)		(229)
Sales and maturities of securities – nuclear decommissioning trust fund	240		216
Other	(1)		23
Net cash used in investing activities	(3,798)		(3,370)
Cash Flows From Financing Activities:
Dividends on common stock	(662)		(610)
Dividends paid to noncontrolling interest holders	(5)		(5)
Short-term debt, net	(533)		522
Maturities of long-term debt	(100)		(505)
Issuances of long-term debt	2,295		1,467
Issuances of common stock	346		333
Employee payroll taxes related to stock-based compensation	(20)		(16)
Debt issuance costs	(21)		(18)
Other	(10)		—
Net cash provided by financing activities	1,290		1,168
Net change in cash, cash equivalents, and restricted cash	56		61
Cash, cash equivalents, and restricted cash at beginning of year	216		155
Cash, cash equivalents, and restricted cash at end of year	$	272	$	216