Ameren (AEE) 8-K Ameren Announces First Quarter 2010 Earnings

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended March  31,
	2010		2009
Operating Revenues:
Electric	$	1,440	$	1,395
Gas		476		521
Total operating revenues		1,916		1,916
Operating Expenses:
Fuel		293		274
Purchased power		271		233
Gas purchased for resale		333		383
Other operations and maintenance		416		421
Depreciation and amortization		187		174
Taxes other than income taxes		118		110
Total operating expenses		1,618		1,595
Operating Income		298		321
Other Income and Expenses:
Miscellaneous income		22		16
Miscellaneous expense		7		4
Total other income		15		12
Interest Charges		132		118
Income Before Income Taxes		181		215
Income Taxes		75		70
Net Income		106		145
Less: Net Income Attributable to Noncontrolling Interests		4		4
Net Income Attributable to Ameren Corporation	$	102	$	141
Earnings per Common Share - Basic and Diluted	$	0.43	$	0.66
Average Common Shares Outstanding		237.6		212.7

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	March 31,    2010		December 31, 2009
ASSETS
Current Assets:
Cash and cash equivalents	$	360	$	622
Accounts receivable - trade, net		500		424
Unbilled revenue		253		367
Miscellaneous accounts and notes receivable		319		318
Materials and supplies		635		782
Mark-to-market derivative assets		233		121
Current regulatory assets		242		110
Other current assets		116		98
Total current assets		2,658		2,842
Property and Plant, Net		17,671		17,610
Investments and Other Assets:
Nuclear decommissioning trust fund		307		293
Goodwill		831		831
Intangible assets		124		129
Regulatory assets		1,427		1,430
Other assets		670		655
Total investments and other assets		3,359		3,338
TOTAL ASSETS	$	23,688	$	23,790
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	204	$	204
Short-term debt		-		20
Accounts and wages payable		427		694
Taxes accrued		94		54
Interest accrued		165		110
Customer deposits		97		101
Mark-to-market derivative liabilities		254		109
Current regulatory liabilities		87		82
Current accumulated deferred income taxes, net		93		38
Other current liabilities		219		299
Total current liabilities		1,640		1,711
Credit Facility Borrowings		630		830
Long-term Debt, Net		7,113		7,113
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,604		2,554
Accumulated deferred investment tax credits		92		94
Regulatory liabilities		1,340		1,338
Asset retirement obligations		435		429
Pension and other postretirement benefits		1,181		1,165
Other deferred credits and liabilities		543		496
Total deferred credits and other liabilities		6,195		6,076
Ameren Corporation Stockholders’ Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		5,437		5,412
Retained earnings		2,466		2,455
Accumulated other comprehensive loss		(4)		(16)
Total Ameren Corporation stockholders’ equity		7,901		7,853
Noncontrolling Interests		209		207
Total equity		8,110		8,060
TOTAL LIABILITIES AND EQUITY	$	23,688	$	23,790

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Three Months Ended
	March 31,
	2010		2009
Cash Flows From Operating Activities:
Net income	$	106	$	145
Adjustments to reconcile net income to net cash provided by operating activities:
Net mark-to-market gain on derivatives		(31)		(51)
Depreciation and amortization		190		176
Amortization of nuclear fuel		13		12
Amortization of debt issuance costs and premium/discounts		9		4
Deferred income taxes and investment tax credits, net		70		32
Other		(9)		(1)
Changes in assets and liabilities:
Receivables		37		130
Materials and supplies		148		185
Accounts and wages payable		(177)		(245)
Taxes accrued		40		29
Assets, other		(32)		29
Liabilities, other		11		100
Pension and other postretirement benefits		30		36
Counterparty collateral, net		(23)		(41)
Taum Sauk costs, net of insurance recoveries		(1)		(24)
Net cash provided by operating activities		381		516
Cash Flows From Investing Activities:
Capital expenditures		(289)		(424)
Nuclear fuel expenditures		(23)		(3)
Purchases of securities - nuclear decommissioning trust fund		(60)		(203)
Sales of securities - nuclear decommissioning trust fund		56		200
Purchases of emission allowances		-		(2)
Other		(1)		-
Net cash used in investing activities		(317)		(432)
Cash Flows From Financing Activities:
Dividends on common stock		(91)		(82)
Capital issuance costs		-		(3)
Dividends paid to noncontrolling interest holders		(2)		(8)
Short-term and credit facility borrowings, net		(220)		(177)
Issuances:
Common stock		20		28
Long-term debt		-		349
Generator advances for construction received (refunded), net		(33)		21
Net cash provided by (used in) financing activities		(326)		128
Net change in cash and cash equivalents		(262)		212
Cash and cash equivalents at beginning of year		622		92
Cash and cash equivalents at end of period	$	360	$	304