Ameren (AEE) 8-K Results of Operations and Financial Condition

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
Operating Revenues:
Electric	$	1,614	$	1,552	$	3,084	$	3,007
Gas		167		173		601		658
Total operating revenues		1,781		1,725		3,685		3,665
Operating Expenses:
Fuel		371		286		750		579
Purchased power		237		268		464		539
Gas purchased for resale		79		83		367		416
Other operations and maintenance		475		465		938		902
Depreciation and amortization		194		190		389		377
Taxes other than income taxes		109		102		234		223
Total operating expenses		1,465		1,394		3,142		3,036
Operating Income		316		331		543		629
Other Income and Expenses:
Miscellaneous income		17		24		33		46
Miscellaneous expense		5		2		10		9
Total other income		12		22		23		37
Interest Charges		104		115		223		247
Income Before Income Taxes		224		238		343		419
Income Taxes		85		83		130		158
Net Income		139		155		213		261
Less: Net Income Attributable to Noncontrolling Interests		1		3		4		7
Net Income Attributable to Ameren Corporation	$	138	$	152	$	209	$	254
Earnings per Common Share - Basic and Diluted	$	0.57	$	0.64	$	0.87	$	1.07
Average Common Shares Outstanding		241.2		238.4		240.9		238.0

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30,			December 31,
	2011			2010
ASSETS
Current Assets:
Cash and cash equivalents	$	378		$	545
Accounts receivable - trade, net		507			500
Unbilled revenue		368			406
Miscellaneous accounts and notes receivable		249			231
Materials and supplies		654			707
Mark-to-market derivative assets		159			129
Current regulatory assets		184			267
Other current assets		104			109
Total current assets		2,603			2,894
Property and Plant, Net		17,945			17,853
Investments and Other Assets:
Nuclear decommissioning trust fund		356			337
Goodwill		411			411
Intangible assets		4			7
Regulatory assets		1,224			1,263
Other assets		848			750
Total investments and other assets		2,843			2,768
TOTAL ASSETS	$	23,391		$	23,515
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	5		$	155
Short-term debt		337			269
Accounts and wages payable		482			651
Taxes accrued		139			63
Interest accrued		107			107
Customer deposits		100			100
Mark-to-market derivative liabilities		135			161
Current regulatory liabilities		160			99
Other current liabilities		262			283
Total current liabilities		1,727			1,888
Credit Facility Borrowings		200			460
Long-term Debt, Net		6,854			6,853
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		3,121			2,886
Accumulated deferred investment tax credits		87			90
Regulatory liabilities		1,424			1,319
Asset retirement obligations		487			475
Pension and other postretirement benefits		1,067			1,045
Other deferred credits and liabilities		481			615
Total deferred credits and other liabilities		6,667			6,430
Ameren Corporation Stockholders’ Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		5,559			5,520
Retained earnings		2,248			2,225
Accumulated other comprehensive loss		(21	)		(17	)
Total Ameren Corporation stockholders’ equity		7,788			7,730
Noncontrolling Interests		155			154
Total equity		7,943			7,884
TOTAL LIABILITIES AND EQUITY	$	23,391		$	23,515

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended
	June 30,
	2011			2010
Cash Flows From Operating Activities:
Net income	$	213		$	261
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of properties		(11	)		(5	)
Net mark-to-market gain on derivatives		(5	)		–
Depreciation and amortization		391			387
Amortization of nuclear fuel		34			19
Amortization of debt issuance costs and premium/discounts		12			12
Deferred income taxes and investment tax credits, net		221			175
Allowance for equity funds used during construction		(15	)		(26	)
Other		10			5
Changes in assets and liabilities:
Receivables		(55	)		(36	)
Materials and supplies		55			108
Accounts and wages payable		(133	)		(125	)
Taxes accrued		76			75
Assets, other		60			(99	)
Liabilities, other		(3	)		–
Pension and other postretirement benefits		31			33
Counterparty collateral, net		23			(69	)
Taum Sauk insurance recoveries, net of costs		(1	)		56
Net cash provided by operating activities		903			771
Cash Flows From Investing Activities:
Capital expenditures		(507	)		(547	)
Nuclear fuel expenditures		(33	)		(22	)
Purchases of securities - nuclear decommissioning trust fund		(125	)		(118	)
Sales of securities - nuclear decommissioning trust fund		113			110
Proceeds from sales of properties		49			20
Other		5			(3	)
Net cash used in investing activities		(498	)		(560	)
Cash Flows From Financing Activities:
Dividends on common stock		(186	)		(183	)
Dividends paid to noncontrolling interest holders		(3	)		(5	)
Short-term and credit facility repayments, net		(192	)		(160	)
Maturities of long-term debt		(150	)		–
Issuances of common stock		32			43
Generator advances for construction refunded, net of receipts		(73	)		(22	)
Net cash used in financing activities		(572	)		(327	)
Net change in cash and cash equivalents		(167	)		(116	)
Cash and cash equivalents at beginning of year		545			622
Cash and cash equivalents at end of period	$	378		$	506