Ameren (AEE) 10-Q 9 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Operating Revenues:
Electric	$1,679	$1,928	$4,589	$4,944
Gas	136	132	826	987
Total operating revenues	1,815	2,060	5,415	5,931
Operating Expenses:
Fuel	306	461	867	963
Coal contract settlement	0	0	0	(60)
Purchased power	256	371	708	964
Gas purchased for resale	57	73	523	697
Other operations and maintenance	422	456	1,294	1,361
Depreciation and amortization	185	173	541	513
Taxes other than income taxes	104	98	311	300
Total operating expenses	1,330	1,632	4,244	4,738
Operating Income	485	428	1,171	1,193
Other Income and Expenses:
Miscellaneous income	16	23	49	61
Miscellaneous expense	(3)	(10)	(14)	(23)
Total other income	13	13	35	38
Interest Charges	134	113	376	331
Income Before Income Taxes	364	328	830	900
Income Taxes	135	113	288	319
Net Income	229	215	542	581
Less: Net Income Attributable to Noncontrolling Interests	2	11	9	33
Net Income Attributable to Ameren Corporation	$227	$204	$533	$548
Earnings per Common Share - Basic and Diluted	1.04	0.97	2.48	2.61
Dividends per Common Share	0.385	0.635	1.155	1.905
Average Common Shares Outstanding	218.2	210.3	214.9	209.5

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Dec. 31, 2008
Current Assets:
Cash and cash equivalents	$563	$92
Accounts receivable - trade (less allowance for doubtful accounts of $29 and $28, respectively)	416	502
Unbilled revenue	250	427
Miscellaneous accounts and notes receivable	182	292
Materials and supplies	857	842
Mark-to-market derivative assets	239	207
Other current assets	273	232
Total current assets	2,780	2,594
Property and Plant, Net	17,272	16,567
Investments and Other Assets:
Nuclear decommissioning trust fund	280	239
Goodwill	831	831
Intangible assets	138	167
Regulatory assets	1,641	1,653
Other assets	652	606
Total investments and other assets	3,542	3,496
TOTAL ASSETS	23,594	22,657
Current Liabilities:
Current maturities of long-term debt	128	380
Short-term debt	435	1,174
Accounts and wages payable	443	813
Taxes accrued	135	54
Interest accrued	183	107
Customer deposits	107	126
Mark-to-market derivative liabilities	197	155
Other current liabilities	298	254
Total current liabilities	1,926	3,063
Long-term Debt, Net	7,321	6,554
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net	2,431	2,131
Accumulated deferred investment tax credits	93	100
Regulatory liabilities	1,322	1,291
Asset retirement obligations	423	406
Pension and other postretirement benefits	1,477	1,495
Other deferred credits and liabilities	555	438
Total deferred credits and other liabilities	6,301	5,861
Commitments and Contingencies (Notes 2, 8, 9 and 10)	-	-
Ameren Corporation Stockholders' Equity:
Common stock, $0.01 par value, 400.0 shares authorized - shares outstanding of 236.8 and 212.3, respectively	2	2
Other paid-in capital, principally premium on common stock	5,392	4,780
Retained earnings	2,467	2,181
Accumulated other comprehensive loss	(21)	0
Total Ameren Corporation stockholders' equity	7,840	6,963
Noncontrolling Interests	206	216
Total equity	8,046	7,179
TOTAL LIABILITIES AND EQUITY	$23,594	$22,657

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Millions, except Per Share data	Sep. 30, 2009	Dec. 31, 2008
Accounts receivable - trade, allowance for doubtful accounts	$29	$28
Common stock, par value	0.01	0.01
Common stock, shares authorized	400	400
Common stock, shares outstanding	236.8	212.3

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Cash Flows From Operating Activities:
Net income	$542	$581
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of emission allowances	0	(2)
Net mark-to-market gain on derivatives	(26)	(42)
Depreciation and amortization	557	528
Amortization of nuclear fuel	40	31
Amortization of debt issuance costs and premium/discounts	16	14
Deferred income taxes and investment tax credits, net	301	130
Other	4	(2)
Changes in assets and liabilities:
Receivables	239	144
Materials and supplies	(11)	(216)
Accounts and wages payable	(241)	(74)
Taxes accrued	81	44
Assets, other	(96)	46
Liabilities, other	134	142
Pension and other postretirement benefits	30	23
Counterparty collateral, net	66	0
Taum Sauk costs, net of insurance recoveries	110	(94)
Net cash provided by operating activities	1,746	1,253
Cash Flows From Investing Activities:
Capital expenditures	(1,295)	(1,316)
Nuclear fuel expenditures	(47)	(161)
Purchases of securities - nuclear decommissioning trust fund	(315)	(386)
Sales of securities - nuclear decommissioning trust fund	315	360
Purchases of emission allowances	(4)	(2)
Sales of emission allowances	0	2
Other	1	2
Net cash used in investing activities	(1,345)	(1,501)
Cash Flows From Financing Activities:
Dividends on common stock	(247)	(399)
Capital issuance costs	(64)	(9)
Dividends paid to noncontrolling interest holders	(19)	(31)
Short-term debt, net	(739)	(65)
Redemptions, repurchases, and maturities:
Long-term debt	(250)	(823)
Preferred stock	0	(16)
Issuances:
Common stock	617	107
Long-term debt	772	1,335
Net cash provided by financing activities	70	99
Net change in cash and cash equivalents	471	(149)
Cash and cash equivalents at beginning of year	92	355
Cash and cash equivalents at end of period	$563	$206

NOTE 1 - SUMMARY OF SIGNIFICANT

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Ameren, headquartered in St. Louis, Missouri, is a public utility holding company under PUHCA 2005, administered by FERC. Amerens primary assets are the common stock of its subsidiaries. Amerens subsidiaries are separate, independent legal entities with separate businesses, assets and liabilities. These subsidiaries operate rate-regulated electric generation, transmission and distribution businesses, rate-regulated natural gas transmission and distribution businesses, and merchant electric generation businesses in Missouri and Illinois. Dividends on Amerens common stock and the payment of other expenses by Ameren and CILCORP holding companies depend on distributions made to it by its subsidiaries. Amerens principal subsidiaries are listed below. Also see the Glossary of Terms and Abbreviations at the front of this report. UE, or Union Electric Company, also known as AmerenUE, operates a rate-regulated electric generation, transmission and distribution business, and a rate-regulated natural gas transmission and distribution business in Missouri. CIPS, or Central Illinois Public Service Company, also known as AmerenCIPS, operates a rate-regulated electric and natural gas transmission and distribution business in Illinois. Genco, or Ameren Energy Generating Company, operates a merchant electric generation business in Illinois and Missouri. CILCO, or Central Illinois Light Company, also known as AmerenCILCO, is a subsidiary of CILCORP (a holding company). It operates a rate-regulated electric transmission and distribution business, a merchant electric generation business (through its subsidiary, AERG) and a rate-regulated natural gas transmission and distribution business, all in Illinois. IP, or Illinois Power Company, also known as AmerenIP, operates a rate-regulated electric and natural gas transmission and distribution business in Illinois. Ameren has various other subsidiaries responsible for the short- and long-term marketing of power, procurement of fuel, management of commodity risks, and provision of other shared services. Ameren has an 80% ownership interest in EEI, which until February29, 2008, was held 40% by UE and 40% by Development Company. Ameren consolidates EEI for financial reporting purposes. UE reported EEI under the equity method until February29, 2008. Effective February29, 2008, UEs and Development Companys ownership interests in EEI were transferred to Resources Company through an internal reorganization. UEs interest in EEI was transferred at book value indirectly through a dividend to Ameren. The financial statements of Ameren, Genco, CILCORP and CILCO are prepared on a consolidated basis. UE, CIPS and IP have no subsidiaries, and therefore their financial statements were not prepared on a consolidated basis. All significant intercompany transactions have been eliminated. All tabular dollar amounts are in millions, unless otherwise indicated. Our accounting policies conform to GAAP. Our financial statements reflect all adjustments (which include normal, recurring adjustments) that are neces

NOTE 2 - RATE AND REGULATORY MA

NOTE 2 - RATE AND REGULATORY MATTERS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 2 - RATE AND REGULATORY MATTERS	NOTE 2 - RATE AND REGULATORY MATTERS Below is a summary of significant regulatory proceedings and related lawsuits. We are unable to predict theultimate outcome of these matters, the timing of the final decisions of the various agencies and courts, or the impact on our results of operations, financial position, or liquidity. Missouri 2009 Electric Rate Order In January 2009, the MoPSC issued an order approving an increase for UE in annual revenues of approximately $162 million for electric service and the implementation of a FAC and a vegetation management and infrastructure inspection cost tracking mechanism, among other things. In February 2009, Noranda, UEs largest electric customer, and the Missouri Office of Public Counsel appealed certain aspects of the MoPSC decision to the Circuit Court of Pemiscot County, Missouri, the Circuit Court of Stoddard County, Missouri, and the Circuit Court of Cole County, Missouri. In September 2009, the Circuit Court of Pemiscot County granted Norandas request to stay the electric rate increase granted by the January 2009 MoPSC order as it applies specifically to Norandas electric service account until the court renders its decision on the appeal. The merits of the appeal will be briefed by the parties over the next several months, with a decision likely to be issued by the court in the first half of 2010. During the stay, Noranda will pay into the court registry the contested portion of its monthly billings, approximately $0.5 million per month based on current usage levels. If UE wins the appeal, it will receive those monthly payments plus interest. Pending Electric Rate Case UE filed a request with the MoPSC in July 2009 to increase its annual revenues for electric service by $402 million. Included in this increase request was approximately $227 million of anticipated increases in normalized net fuel costs in excess of the net fuel costs included in base rates previously authorized by the MoPSC in its January 2009 electric rate order, which, absent initiation of this general rate proceeding, would have been eligible for recovery through UEs existing FAC. The balance of the increase request is based primarily on investments made to continue system-wide reliability improvements for customers, increases in costs essential to generating and delivering electricity, and higher financing costs. The electric rate increase request is based on an 11.5% return on equity, a capital structure composed of 47.4% equity, a rate base for UE of $6.0 billion, and a test year ended March31, 2009, with certain pro-forma adjustments through the anticipated true-up date of January31, 2010. Following Amerens September 2009 common stock issuance, UE received a capital contribution from Ameren of $436 million in September 2009. UE expects to true-up its capital structure in the electric rate case to reflect this capital contribution, among other things. See Note 4 - Long-term Debt and Equity Financings for further information on the Ameren common stock issuance. UEs filing included a request for interim rate relief, which would place into effect approximately $37 million of the requested increase prior to c

NOTE 3 - SHORT-TERM BORROWINGS

NOTE 3 - SHORT-TERM BORROWINGS AND LIQUIDITY
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 3 - SHORT-TERM BORROWINGS AND LIQUIDITY	NOTE 3 - SHORT-TERM BORROWINGS AND LIQUIDITY The liquidity needs of the Ameren Companies are typically supported through the use of available cash and drawings under committed bank credit facilities. Amended and New Credit Facilities On June30, 2009, Ameren and certain of its subsidiaries entered into multiyear credit facility agreements with 24 international, national and regional lenders with no single lender providing more than $146 million of credit. These facilities, as described below, cumulatively provide $2.1 billion of credit through July14, 2010, thereafter reducing to $1.8795 billion through June30, 2011, and thereafter reducing to $1.0795 billion through July14, 2011. 2009 Multiyear Credit Agreements On June30, 2009, Ameren, UE, and Genco entered into an agreement (the 2009 Multiyear Credit Agreement) to amend and restate the $1.15 billion five-year revolving credit agreement that was originally entered into as of July14, 2005, then amended and restated as of July14, 2006, and due to expire in July 2010 (the Prior $1.15 Billion Credit Facility). Ameren, UE, and Genco also entered into a $150 million Supplemental Credit Agreement to the 2009 Multiyear Credit Agreement (the Supplemental Agreement), which provides Ameren, UE, and Genco with an additional facility of $150 million with terms and conditions substantially identical to the 2009 Multiyear Credit Agreement. Collectively, these agreements are the 2009 Multiyear Credit Agreements. The obligations of each borrower under the 2009 Multiyear Credit Agreements are several and not joint, and except under limited circumstances relating to expenses and indemnities, the obligations of UE or Genco are not guaranteed by Ameren or any other subsidiary of Ameren. The combined maximum amount available to all of the borrowers, collectively, under the 2009 Multiyear Credit Agreements is $1.3 billion, and the combined maximum amount available to each borrower, individually, under the 2009 Multiyear Credit Agreements is limited as follows: Ameren - $1.15 billion, UE - $500 million and Genco - $150 million (such amounts being each borrowers Borrowing Sublimit). CIPS, CILCO, and IP have no borrowing authority or liability under the 2009 Multiyear Credit Agreements. On July14, 2010, the Supplemental Agreement will terminate, all commitments and all outstanding amounts under the Supplemental Agreement will be consolidated with those under the 2009 Multiyear Credit Agreement, and the combined maximum amount available to all borrowers will be $1.0795 billion with the UE and Genco Borrowing Sublimits remaining the same noted above and Amerens changing to $1.0795 billion. Ameren has the option to seek additional commitments from existing or new lenders to increase the total facility size to $1.3 billion after July14, 2010. The 2009 Multiyear Credit Agreement will terminate with respect to Ameren on July14, 2011, representing a one-year extension from the Prior $1.15 Billion Credit Facility. The Borrowing Sublimits of UE and Genco will continue to be subject to extension on a 364-day basis (but in no event later than July14, 2011) with the current maturity date of their Borrower Su

NOTE 4 - LONG-TERM DEBT AND EQU

NOTE 4 - LONG-TERM DEBT AND EQUITY FINANCINGS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 4 - LONG-TERM DEBT AND EQUITY FINANCINGS	NOTE 4 - LONG-TERM DEBT AND EQUITY FINANCINGS Ameren Under DRPlus, pursuant to an effective SEC Form S-3 registration statement, and under our 401(k) plan, pursuant to an effective SEC Form S-8 registration statement, Ameren issued a total of 0.7million new shares of common stock valued at $18 million and 2.6million new shares of common stock valued at $65 million in the three and nine months ended September30, 2009, respectively. In May 2009, Ameren issued $425 million of 8.875% senior unsecured notes due May15, 2014, with interest payable semiannually on May15 and November15 of each year, beginning November15, 2009. Ameren received net proceeds of $420 million, which were used, together with other corporate funds, to repay borrowings under its $300 million term loan agreement and, by way of a capital contribution to CILCORP, providing funds for it to repay its outstanding 8.70% senior notes on their due date of October15, 2009. In September 2009, Ameren issued and sold 21.9million shares of its common stock at $25.25 per share, for proceeds of $535 million, net of $17 million of issuance costs. Ameren used the net offering proceeds to make investments in its rate-regulated utility subsidiaries in the form of equity capital contributions as follows: UE - $436 million, CIPS - $13 million, CILCO - $25 million, and IP - $61 million. UE In March 2009, UE issued $350 million of 8.45% senior secured notes due March15, 2039, with interest payable semiannually on March15 and September15 of each year, beginning in September 2009. These notes are secured by first mortgage bonds. UE received net proceeds of $346 million, which were used to repay short-term debt. In connection with this issuance of $350 million of senior secured notes, UE agreed, for so long as these senior secured notes are outstanding, that it will not, prior to maturity, cause a first mortgage bond release date to occur. The first mortgage bond release date is the date at which the security provided by the pledge under UEs first mortgage indenture would no longer be available to holders of any outstanding series of its senior secured notes and such indebtedness would become senior unsecured indebtedness. CILCORP In conjunction with Amerens acquisition of CILCORP, CILCORPs long-term debt was increased to fair value by $111 million. Amortization related to fair-value adjustments was $1 million and $4 million (2008 - $1 million and $4 million) for the three and nine months ended September30, 2009, respectively, and was included in interest expense in the Consolidated Statements of Income of Ameren and CILCORP. In September 2008, CILCORP commenced a cash tender offer and related consent solicitation for any and all of its then outstanding 8.70% senior notes due 2009 and its 9.375% senior bonds due 2029. In April 2009, CILCORP terminated the tender offer and the consent solicitation related to the then outstanding 8.70% senior notes due 2009. In July 2009, CILCORP terminated the tender offer and the consent solicitation related to the outstanding 9.375% senior bonds due 2029. None of the 2009 notes or the 2029 bonds were purchased in the tender offer and consen

NOTE 5 - OTHER INCOME AND EXPEN

NOTE 5 - OTHER INCOME AND EXPENSES
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 5 - OTHER INCOME AND EXPENSES	NOTE 5 - OTHER INCOME AND EXPENSES The following table presents Other Income and Expenses for each of the Ameren Companies for the three and nine months ended September30, 2009 and 2008: ThreeMonths Nine Months 2009 2008 2009 2008 Ameren:(a) Miscellaneous income: Interest and dividend income $ 7 $ 10 $ 22 $ 35 Allowance for equity funds used during construction 8 8 22 19 Other 1 5 5 7 Total miscellaneous income $ 16 $ 23 $ 49 $ 61 Miscellaneous expense: Donations $ (1 ) $ (4 ) $ (5 ) $ (10 ) Other (2 ) (6 ) (9 ) (13 ) Total miscellaneous expense $ (3 ) $ (10 ) $ (14 ) $ (23 ) UE: Miscellaneous income: Interest and dividend income $ 8 $ 8 $ 22 $ 26 Allowance for equity funds used during construction 7 8 20 19 Other - 1 1 1 Total miscellaneous income $ 15 $ 17 $ 43 $ 46 Miscellaneous expense: Donations $ - $ - $ (3 ) $ (2 ) Other (2 ) (2 ) (3 ) (4 ) Total miscellaneous expense $ (2 ) $ (2 ) $ (6 ) $ (6 ) CIPS: Miscellaneous income: Interest and dividend income $ 1 $ 2 $ 4 $ 7 Other - 1 2 2 Total miscellaneous income $ 1 $ 3 $ 6 $ 9 Miscellaneous expense: Donations $ - $ - $ (1 ) $ (1 ) Other - - - (1 ) Total miscellaneous expense $ - $ - $ (1 ) $ (2 ) Genco: Miscellaneous income: Other $ - $ - $ - $ 1 Total miscellaneous income $ - $ - $ - $ 1 Miscellaneous expense: Other $ - $ (1 ) $ - $ (1 ) Total miscellaneous expense $ - $ (1 ) $ - $ (1 ) CILCORP: Miscellaneous income: Interest income $ 1 $ 1 $ 1 $ 2 Total miscellaneous income $ 1 $ 1 $ 1 $ 2 ThreeMonths NineMonths 2009 2008 2009 2008 Miscellaneous expense: Donations $ - $ - $ (1 ) $ (1 ) Other (2 ) (2 ) (3 ) (3 ) Total miscellaneous expense $ (2 ) $ (2 ) $ (4 ) $ (4 ) CILCO: Miscellaneous income: Interest income $ 1 $ 1 $ 1 $ 2 Total miscellaneous income $ 1 $ 1 $ 1 $ 2 Miscellaneous expense:

NOTE 6 - DERIVATIVE FINANCIAL I

NOTE 6 - DERIVATIVE FINANCIAL INSTRUMENTS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 6 - DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 6 - DERIVATIVE FINANCIAL INSTRUMENTS We use derivatives principally to manage the risk of changes in market prices for natural gas, fuel, electricity, and emission allowances. Such price fluctuations may cause the following: an unrealized appreciation or depreciation of our contracted commitments to purchase or sell when purchase or sale prices under the commitments are compared with current commodity prices; market values of fuel and natural gas inventories or emission allowances that differ from the cost of those commodities in inventory; and actual cash outlays for the purchase of these commodities that differ from anticipated cash outlays. The derivatives that we use to hedge these risks are governed by our risk management policies for forward contracts, futures, options, and swaps. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The goal of the hedging program is generally to mitigate financial risks while ensuring that sufficient volumes are available to meet our requirements. Contracts we enter into as part of our risk management program may be settled financially, settled by physical delivery, or net settled with the counterparty. The following table presents open gross derivative volumes by commodity type as of September30, 2009: Quantity Commodity NPNS Contracts(a) CashFlow Hedges(b) Other Derivatives(c) DerivativesSubjectto RegulatoryDeferral(d) Coal (in tons) Ameren(e) 84,560,000 (f ) (f ) (f ) UE 47,016,000 (f ) (f ) (f ) Genco 17,740,000 (f ) (f ) (f ) CILCORP/CILCO 9,926,000 (f ) (f ) (f ) Natural gas (in mmbtu) Ameren(e) 182,466,000 (f ) 155,075,000 126,137,000 UE 23,660,000 (f ) 935,000 20,870,000 CIPS 30,727,000 (f ) (f ) 19,593,000 Genco (f ) (f ) 3,700,000 (f ) CILCORP/CILCO 54,303,000 (f ) (f ) 31,135,000 IP 73,776,000 (f ) (f ) 54,539,000 Heating oil (in gallons) Ameren(e) (f ) (f ) 181,062,000 51,660,000 UE (f ) (f ) (f ) 51,660,000 Power (in megawatthours) Ameren(e) 82,584,000 33,007,000 33,534,000 12,738,000 UE 4,577,000 (f ) 706,000 5,341,000 CIPS (f ) (f ) (f ) 11,521,000 CILCORP/CILCO (f ) (f ) (f ) 5,935,000 IP (f ) (f ) (f ) 17,456,000 SO2 emission allowances (in tons) Ameren (f ) (f ) 1,000 (f ) Genco (f ) (f ) 1,000 (f ) Uranium (in pounds) Ameren (f ) (f ) (f ) 250,000 UE (f ) (f ) (f ) 250,000 (a) Contracts through 2013, 2015, and 2035 for coal, natural gas, and power, respectively. (b) Contracts through 2011 for power. (c) Contracts through 2009, 2012, 2013, and 2009 for natural gas, heating oil, power, and S

NOTE 7 - FAIR VALUE MEASUREMENT

NOTE 7 - FAIR VALUE MEASUREMENTS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 7 - FAIR VALUE MEASUREMENTS	NOTE 7 - FAIR VALUE MEASUREMENTS The Ameren Companies adopted authoritative accounting guidance for fair value measurements as of the beginning of their 2008 fiscal year for financial assets and liabilities and as of the beginning of their 2009 fiscal year for nonfinancial assets and liabilities, except those already reported at fair value on a recurring basis. The impact of the adoption of this guidance for financial assets and liabilities at January1, 2008, and for nonfinancial assets and liabilities at January1, 2009, was not material. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use various methods to determine fair value, including market, income, and cost approaches. With these approaches, we adopt certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk or the risks inherent in the inputs to the valuation. Inputs to valuation can be readily observable, market-corroborated, or unobservable. We use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The guidance also establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. All financial assets and liabilities carried at fair value are classified and disclosed in one of the following three hierarchy levels: Level 1: Inputs based on quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities primarily include exchange-traded derivatives and assets including U.S. treasury securities and listed equity securities, such as those held in UEs Nuclear Decommissioning Trust Fund. Level 2: Market-based inputs corroborated by third-party brokers or exchanges based on transacted market data. Level 2 assets and liabilities include certain assets held in UEs Nuclear Decommissioning Trust Fund, including corporate bonds and other fixed-income securities, and certain over-the-counter derivative instruments, including natural gas swaps and financial power transactions. Derivative instruments classified as Level 2 are valued using corroborated observable inputs, such as pricing services or prices from similar instruments that trade in liquid markets. Our development and corroboration process entails obtaining multiple quotes or prices from outside sources. To derive our forward view to price our derivative instruments at fair value, we average the midpoints of the bid/ask spreads. To validate forward prices obtained from outside parties, we compare the pricing to recently settled market transactions. Additionally, a review of all sources is performed to identify any anomalies or potential errors. Further, we consider the volume of transactions on certain trading platforms in our reasonableness assessment of the averaged midpoint. Level 3: Unobservable inputs that are not corroborated by market data. Level 3 assets and liabilities are valued based on internally developed

NOTE 8 - RELATED PARTY TRANSACT

NOTE 8 - RELATED PARTY TRANSACTIONS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 8 - RELATED PARTY TRANSACTIONS	NOTE 8 - RELATED PARTY TRANSACTIONS The Ameren Companies have engaged in, and may in the future engage in, affiliate transactions in the normal course of business. These transactions primarily consist of gas and power purchases and sales, services received or rendered, and borrowings and lendings. Transactions between affiliates are reported as intercompany transactions on their financial statements, but are eliminated in consolidation for Amerens financial statements. For a discussion of our material related party agreements, see Note 14 - Related Party Transactions under Part II, Item8 of the Form 10-K. Illinois Electric Settlement Agreement As part of the Illinois electric settlement agreement, the Ameren Illinois Utilities, Genco and AERG agreed to make aggregate contributions of $150 million over four years as part of a comprehensive program providing approximately $1 billion of funding for rate relief to certain Illinois electric customers, including customers of the Ameren Illinois Utilities. At September30, 2009, CIPS, CILCO and IP had receivable balances from Genco for reimbursement of customer rate relief of $1 million, less than $1 million, and $1 million, respectively. Also at September30, 2009, CIPS, CILCO and IP had receivable balances from AERG for reimbursement of customer rate relief of less than $1 million each. During the three and nine months ended September30, 2009, Genco incurred charges to earnings of $2 million and $7 million, respectively, for customer rate relief contributions and program funding reimbursements to the Ameren Illinois Utilities (CIPS - $1 million and $3 million, CILCO - less than $1 million and $1 million, IP - $1 million and $3 million, respectively), and AERG incurred charges to earnings of $1 million and $3 million, respectively (CIPS - less than $1 million and $1 million, CILCO - less than $1 million and $1 million, IP - less than $1 million and $1 million, respectively). The Ameren Illinois Utilities recorded most of the reimbursements received from Genco and AERG as electric revenue with an immaterial amount recorded as miscellaneous revenue. Electric Power Supply Agreements The following table presents the amount of physical gigawatthour sales under related party electric power supply agreements for the three and nine months ended September30, 2009 and 2008: ThreeMonths Nine Months 2009 2008 2009 2008 Genco sales to Marketing Company(a) 3,389 4,276 10,347 12,217 AERG sales to Marketing Company(a) 1,923 1,794 4,898 5,107 Marketing Company sales to CIPS(b) 226 463 1,044 1,557 Marketing Company sales to CILCO(b) 96 222 457 702 Marketing Company sales to IP(b) 282 715 1,409 2,217 (a) Both Genco and AERG have a power supply agreement with Marketing Company whereby Genco and AERG sell and Marketing Company purchases all the capacity and energy available from Gencos and AERGs generation fleets. (b) Marketing Company contracted with CIPS, CILCO, and IP to provide power based on the results of the September 2006 Illinois power procurement auction. The values in this table r

NOTE 9 - COMMITMENTS AND CONTIN

NOTE 9 - COMMITMENTS AND CONTINGENCIES
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 9 - COMMITMENTS AND CONTINGENCIES	NOTE 9 - COMMITMENTS AND CONTINGENCIES We are involved in legal, tax and regulatory proceedings before various courts, regulatory commissions, and governmental agencies with respect to matters that arise in the ordinary course of business, some of which involve substantial amounts of money. We believe that the final disposition of these proceedings, except as otherwise disclosed in the notes to our financial statements, will not have a material adverse effect on our results of operations, financial position, or liquidity. Reference is made to Note 1 - Summary of Significant Accounting Policies, Note 2 - Rate and Regulatory Matters, Note 14 - Related Party Transactions, and Note 15 - Commitments and Contingencies under Part II, Item8 of the Form 10-K. See also Note 1 - Summary of Significant Accounting Policies, Note 2 - Rate and Regulatory Matters, Note 8 - Related Party Transactions and Note 10 - Callaway Nuclear Plant in this report. Callaway Nuclear Plant The following table presents insurance coverage at UEs Callaway nuclear plant at September30, 2009. The property coverage and the nuclear liability coverage must be renewed on October1 and January1, respectively, of each year. Type and Source of Coverage MaximumCoverages MaximumAssessmentsfor Single Incidents Public liability and nuclear worker liability: American Nuclear Insurers $ 300 (a) $ - Pool participation 12,219 (b) 118 (c) $ 12,519 $ 118 Property damage: Nuclear Electric Insurance Ltd. $ 2,750 (d) $ 23 Replacement power: Nuclear Electric Insurance Ltd. $ 490 (e) $ 9 Energy Risk Assurance Company $ 64 (f) $ - (a) Provided through mandatory participation in an industry-wide retrospective premium assessment program. (b) Limit of liability for each incident under the Price-Anderson liability provisions of the Atomic Energy Act of 1954, as amended. A company could be assessed up to $118 million per incident for each licensed reactor it operates with a maximum of $17.5 million per incident to be paid in a calendar year for each reactor. This limit is subject to change to account for the effects of inflation and changes in the number of licensed reactors. (c) Retrospective premium under Price-Anderson. This is subject to retrospective assessment with respect to a covered loss in excess of $300 million from an incident at any licensed U.S. commercial reactor, payable at $17.5 million per year. (d) Provides for $500 million in property damage and decontamination, excess property insurance, and premature decommissioning coverage up to $2.25 billion for losses in excess of the $500 million primary coverage. (e) Provides the replacement power cost insurance in the event of a prolonged accidental outage at our nuclear plant. Weekly indemnity of $4.5 million for 52 weeks, which commences after the first eight weeks of an outage, plus $3.6 million per week for 71.1 weeks thereafter. (f) Provides the replacement power cost insurance in the event of a prolonged accidental outage at our nuclear pl

NOTE 10 - CALLAWAY NUCLEAR PLAN

NOTE 10 - CALLAWAY NUCLEAR PLANT
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 10 - CALLAWAY NUCLEAR PLANT	NOTE 10 - CALLAWAY NUCLEAR PLANT Under the Nuclear Waste Policy Act of 1982, the DOE is responsible for the permanent storage and disposal of spent nuclear fuel. The DOE currently charges one mill, or 1/ 10 of one cent, per nuclear-generated kilowatthour sold for future disposal of spent fuel. Pursuant to this act, UE collects one mill from its electric customers for each kilowatthour of electricity that it generates and sells from its Callaway nuclear plant. Electric utility rates charged to customers provide for recovery of such costs. The DOEs last announced date of when it expects a permanent storage facility for spent fuel to be available was 2020, and the DOE continues to evaluate permanent storage alternatives. UE has sufficient installed storage capacity at its Callaway nuclear plant until 2020. It has the capability for additional storage capacity through the licensed life of the plant. The delayed availability of the DOEs disposal facility is not expected to adversely affect the continued operation of the Callaway nuclear plant through its currently licensed life. UE intends to submit a license extension application with the NRC to extend its Callaway nuclear plants operating license from 2024 to 2044. If the Callaway nuclear plants license is extended, additional spent fuel storage will be required. UE is evaluating the installation of a dry spent fuel storage facility at its Callaway nuclear plant. Electric utility rates charged to customers provide for the recovery of the Callaway nuclear plants decommissioning costs, which include decontamination, dismantling, and site restoration costs, over an assumed 40-year life of the plant, ending with the expiration of the plants operating license in 2024. It is assumed that the Callaway nuclear plant site will be decommissioned based on the immediate dismantlement method and removal from service. Ameren and UE have recorded an ARO for the Callaway nuclear plant decommissioning costs at fair value, which represents the present value of estimated future cash outflows. Decommissioning costs are charged to the costs of service used to establish electric rates for UEs customers. These costs amounted to $7 million in each of the years 2008, 2007, and 2006. Every three years, the MoPSC requires UE to file an updated cost study for decommissioning its Callaway nuclear plant. Electric rates may be adjusted at such times to reflect changed estimates. The latest cost study was filed in September 2008 and included the minor tritium contamination discovered on the Callaway nuclear plant site, which did not result in a significant increase in the decommissioning cost estimate. Costs collected from customers are deposited in an external trust fund to provide for the Callaway nuclear plants decommissioning. If the assumed return on trust assets is not earned, we believe that it is probable that any such earnings deficiency will be recovered in rates. The fair value of the nuclear decommissioning trust fund for UEs Callaway nuclear plant is reported as Nuclear Decommissioning Trust Fund in Amerens Consolidated Balance Sheet and UEs Balance Sheet. This amount is legally restricted and may be us

NOTE 11 - OTHER COMPREHENSIVE I

NOTE 11 - OTHER COMPREHENSIVE INCOME
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 11 - OTHER COMPREHENSIVE INCOME	NOTE 11 - OTHER COMPREHENSIVE INCOME Comprehensive income includes net income as reported on the statements of income and all other changes in common stockholders equity, except those resulting from transactions with common stockholders. A reconciliation of net income to comprehensive income for the three and nine months ended September30, 2009 and 2008, is shown below for the Ameren Companies: ThreeMonths Nine Months 2009 2008 2009 2008 Ameren:(a) Net income $ 229 $ 215 $ 542 $ 581 Unrealized net gain on derivative hedging instruments, net of taxes of $11, $89, $65 and $26, respectively 21 157 119 46 Reclassification adjustments for derivative (gain) included in net income, net of taxes of $15, $23, $59 and $17, respectively (29 ) (40 ) (106 ) (29 ) Reclassification adjustment due to implementation of FAC, net of taxes of $-, $-, $18 and $-, respectively - - (29 ) - Adjustment to pension and benefit obligation, net of taxes of $-, $-, $7 and $1, respectively - - (5 ) (2 ) Total comprehensive income, net of taxes $ 221 $ 332 $ 521 $ 596 Less: Net income attributable to noncontrolling interests, net of taxes 2 11 9 33 Total comprehensive income attributable to Ameren Corporation, net of taxes $ 219 $ 321 $ 512 $ 563 UE: Net income $ 142 $ 99 $ 248 $ 287 Unrealized net gain on derivative hedging instruments, net of taxes of $-, $23, $11 and $12, respectively - 38 17 21 Reclassification adjustments for derivative (gain) included in net income, net of taxes of $-, $2, $8 and $3, respectively - (4 ) (13 ) (5 ) Reclassification adjustment due to implementation of FAC, net of taxes of $-, $-, $18 and $-, respectively - - (29 ) - Total comprehensive income, net of taxes $ 142 $ 133 $ 223 $ 303 CIPS: Net income $ 18 $ 7 $ 26 $ 7 Total comprehensive income, net of taxes $ 18 $ 7 $ 26 $ 7 Genco: Net income $ 27 $ 20 $ 120 $ 140 Reclassification adjustments for derivative (gain) included in net income, net of taxes of $-, $-, $- and $4, respectively - - - (5 ) Adjustment to pension and benefit obligation, net of taxes (benefit) of $-, $-, $1 and $(2), respectively - - 1 3 Total comprehensive income, net of taxes $ 27 $ 20 $ 121 $ 138 CILCORP: Net income (loss) $ 29 $ 18 $ (379 ) $ 43 Reclassification adjustments for derivative (gain) included in net income, net of taxes of $-, $-, $- and $1, respectively - - - (1 ) Adjustment to pension and benefit obligation, net of taxes of $-, $-, $- and $1, respectively -

NOTE 12 - RETIREMENT BENEFITS

NOTE 12 - RETIREMENT BENEFITS
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 12 - RETIREMENT BENEFITS	NOTE 12 - RETIREMENT BENEFITS Amerens pension and postretirement plans are funded in compliance with income tax regulations and to achieve federal funding or regulatory requirements. As a result, Ameren expects to fund its pension plans at a level equal to the greater of the pension expense or the legally required minimum contribution. Taking into consideration our assumptions at December31, 2008, estimated investment performance through September30, 2009, and our pension funding policy, Ameren expects to make annual contributions of $100 million to $250 million in each of the next five years. These amounts are estimates which may change with actual investment performance, changes in interest rates, any pertinent changes in government regulations, and any voluntary contributions. Our policy for postretirement benefits is primarily to fund the Voluntary Employee Beneficiary Association (VEBA) trusts to match the annual postretirement expense. Ameren made contributions to its pension plan during the first nine months of 2009 and 2008 of $47 million and $32 million, respectively. In October 2009, Ameren made an additional $23 million contribution to its pension plan. Ameren made contributions to its postretirement benefit plans during the first nine months of 2009 and 2008 of $23 million and $22 million, respectively. The following table presents the components of the net periodic benefit cost for our pension and postretirement benefit plans for the three and nine months ended September30, 2009 and 2008: Pension Benefits(a) Postretirement Benefits(a) Three Months Nine Months Three Months Nine Months 2009 2008 2009 2008 2009 2008 2009 2008 Service cost $ 17 $ 15 $ 51 $ 44 $ 5 $ 5 $ 15 $ 14 Interest cost 47 46 140 139 16 17 49 52 Expected return on plan assets (52 ) (53 ) (154 ) (159 ) (13 ) (14 ) (40 ) (43 ) Amortization of: Transition obligation - - - - 1 1 2 2 Prior service cost (benefit) 2 3 6 9 (2 ) (2 ) (6 ) (6 ) Actuarial loss 6 1 18 2 2 2 6 6 Net periodic benefit cost $ 20 $ 12 $ 61 $ 35 $ 9 $ 9 $ 26 $ 25 (a) Includes amounts for Ameren registrant and nonregistrant subsidiaries. UE, CIPS, Genco, CILCORP, CILCO and IP are responsible for their share of the pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs incurred for the three and nine months ended September30, 2009 and 2008: Pension Costs Postretirement Costs Three Months Nine Months Three Months Nine Months 2009 2008 2009 2008 2009 2008 2009 2008 Ameren(a) $ 20 $ 12 $ 61 $ 35 $ 9 $ 9 $ 26

NOTE 13 - SEGMENT INFORMATION

NOTE 13 - SEGMENT INFORMATION
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 13 - SEGMENT INFORMATION	NOTE 13 - SEGMENT INFORMATION Ameren has three reportable segments: Missouri Regulated, Illinois Regulated, and Merchant Generation. The Missouri Regulated segment for Ameren includes all the operations of UEs business as described in Note 1 - Summary of Significant Accounting Policies, except for UEs 40% interest in EEI (which in February 2008 was transferred to Resources Company through an internal reorganization). The Illinois Regulated segment for Ameren consists of the regulated electric and gas transmission and distribution businesses of CIPS, CILCO, and IP, as described in Note 1 - Summary of Significant Accounting Policies. The Merchant Generation segment for Ameren consists primarily of the operations or activities of Genco, the CILCORP parent company, AERG, EEI, and Marketing Company. The category called Other primarily includes Ameren parent company activities. UE has one reportable segment: Missouri Regulated. The Missouri Regulated segment for UE includes all the operations of UEs business as described in Note 1 - Summary of Significant Accounting Policies, except for UEs former 40% interest in EEI. CILCORP and CILCO have two reportable segments: Illinois Regulated and Merchant Generation. The Illinois Regulated segment for CILCORP and CILCO consists of the regulated electric and gas transmission and distribution businesses of CILCO. The Merchant Generation segment for CILCORP and CILCO consists of the generation business of AERG. For CILCORP and CILCO, Other comprises minor activities not reported in the Illinois Regulated or Merchant Generation segments for CILCORP. The following tables present information about the reported revenues and specified items included in net income of Ameren, UE, CILCORP, and CILCO for the three and nine months ended September30, 2009 and 2008, and total assets as of September30, 2009, and December31, 2008. Ameren Three Months Missouri Regulated Illinois Regulated Merchant Generation Other Intersegment Eliminations Consolidated 2009: External revenues $ 829 $ 638 $ 346 $ 2 $ - $ 1,815 Intersegment revenues 7 7 87 4 (105 ) - Net income (loss) attributable to Ameren Corporation(a) 141 57 37 (8 ) - 227 2008: External revenues $ 865 $ 724 $ 478 $ (7 ) $ - $ 2,060 Intersegment revenues 10 7 114 3 (134 ) - Net income (loss) attributable to Ameren Corporation(a) 98 13 108 (15 ) - 204 Nine Months 2009: External revenues $ 2,222 $ 2,184 $ 997 $ 12 $ - $ 5,415 Intersegment revenues 21 21 309 14 (365 ) - Net income (loss) attributable to Ameren Corporation(a) 244 97 205 (13 ) - 533 2008: External revenues $ 2,340 $ 2,487 $ 1,110 $ (

NOTE 14 - GOODWILL IMPAIRMENT

NOTE 14 - GOODWILL IMPAIRMENT
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 14 - GOODWILL IMPAIRMENT	NOTE 14 - GOODWILL IMPAIRMENT We evaluate goodwill for impairment as of October31 of each year, or more frequently if events and circumstances indicate that the asset might be impaired. Goodwill impairment testing is a two-step process. The first step involves a comparison of the estimated fair value of a reporting unit with its carrying amount. If the estimated fair value of the reporting unit exceeds the carrying value, goodwill of the reporting unit is considered unimpaired. If the carrying amount of the reporting unit exceeds its estimated fair value, the second step is performed to measure the amount of impairment, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting units goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined by allocating the estimated fair value of the reporting unit to the estimated fair value of its existing assets and liabilities in a manner similar to a purchase price allocation. The unallocated portion of the estimated fair value of the reporting unit is the implied fair value of goodwill. If the implied fair value of goodwill is less than the carrying amount, an impairment loss, equivalent to the difference, is recorded as a reduction of goodwill and a charge to operating expense. The goodwill impairment test that we performed in the fourth quarter of 2008 did not result in the second step assessment; the test indicated no impairment of Amerens, CILCORPs, or IPs goodwill. However, the estimated fair values of both of CILCORPs reporting units (Illinois Regulated and Merchant Generation) exceeded carrying values by a nominal amount. We concluded that events had occurred and circumstances had changed during the first quarter of 2009, which required us to perform an interim goodwill impairment test. The following triggering events resulted in the need for us to perform an impairment test: A significant decline in Amerens market capitalization. The continuing decline in market prices for electricity. A decrease in observable industry market multiples. The fair value of Amerens, CILCORPs and IPs reporting units was estimated based on a risk-adjusted, probability-weighted discounted cash flow model that considered multiple operating scenarios. Key assumptions in the determination of fair value included the use of an appropriate discount rate, estimated five-year future cash flows, and an exit value based on observable industry market multiples. For the interim test conducted as of March31, 2009, the discount rate used was 3.8%, based on the 20-year treasury yield. To assess the reasonableness of the estimated fair values, the sum of the estimated fair values of the Ameren reporting units is reconciled to our current market capitalization plus an estimated control premium. We use our best estimates in making these evaluations and consider various factors, including forward price curves for energy, fuel costs, the regulatory environment, and operating costs. CILCORPs Illinois Regulated reporting unit and CILCORPs Merchant Generation reporting unit both failed step one of the M

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Oct. 30, 2009
Entity [Text Block]
Trading Symbol	AEE
Entity Registrant Name	AMEREN CORP
Entity Central Index Key	0001002910
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		236,921,011