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 September 30,					Nine Months Ended September 30,
	2011		2010			2011		2010
Operating Revenues:
Electric	$	2,138	$	2,133		$	5,222	$	5,140
Gas		130		134			731		792
Total operating revenues		2,268		2,267			5,953		5,932
Operating Expenses:
Fuel		467		394			1,217		973
Purchased power		332		376			796		915
Gas purchased for resale		46		51			413		467
Other operations and maintenance		432		455			1,368		1,357
Goodwill, impairment and other charges		124		589			126		589
Depreciation and amortization		196		194			585		571
Taxes other than income taxes		121		119			355		342
Total operating expenses		1,718		2,178			4,860		5,214
Operating Income		550		89			1,093		718
Other Income and Expenses:
Miscellaneous income		18		24			51		70
Miscellaneous expense		5		10			15		19
Total other income		13		14			36		51
Interest Charges		113		130			336		377
Income (Loss) Before Income Taxes		450		(27	)		793		392
Income Taxes		163		137			293		295
Net Income (Loss)		287		(164	)		500		97
Less: Net Income Attributable to Noncontrolling Interests		2		3			6		10
Net Income (Loss) Attributable to Ameren Corporation	$	285	$	(167	)	$	494	$	87
Earnings (Loss) per Common Share - Basic and Diluted	$	1.18	$	(0.70	)	$	2.05	$	0.37
Average Common Shares Outstanding		241.7		239.3			241.2		238.4

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	September 30,			December 31,
	2011			2010
ASSETS
Current Assets:
Cash and cash equivalents	$	522		$	545
Accounts receivable - trade, net		575			517
Unbilled revenue		292			406
Miscellaneous accounts and notes receivable		147			214
Materials and supplies		734			707
Mark-to-market derivative assets		94			129
Current regulatory assets		184			267
Other current assets		132			109
Total current assets		2,680			2,894
Property and Plant, Net		17,873			17,853
Investments and Other Assets:
Nuclear decommissioning trust fund		330			337
Goodwill		411			411
Intangible assets		6			7
Regulatory assets		1,213			1,263
Other assets		843			750
Total investments and other assets		2,803			2,768
TOTAL ASSETS	$	23,356		$	23,515
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	178		$	155
Short-term debt		350			269
Accounts and wages payable		410			651
Taxes accrued		161			63
Interest accrued		159			107
Customer deposits		98			100
Mark-to-market derivative liabilities		118			161
Current regulatory liabilities		123			99
Other current liabilities		251			283
Total current liabilities		1,848			1,888
Credit Facility Borrowings		–			460
Long-term Debt, Net		6,682			6,853
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		3,299			2,886
Accumulated deferred investment tax credits		81			90
Regulatory liabilities		1,464			1,319
Asset retirement obligations		439			475
Pension and other postretirement benefits		922			1,045
Other deferred credits and liabilities		469			615
Total deferred credits and other liabilities		6,674			6,430
Ameren Corporation Stockholders’ Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		5,580			5,520
Retained earnings		2,440			2,225
Accumulated other comprehensive loss		(25	)		(17	)
Total Ameren Corporation stockholders’ equity		7,997			7,730
Noncontrolling Interests		155			154
Total equity		8,152			7,884
TOTAL LIABILITIES AND EQUITY	$	23,356		$	23,515

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Nine Months Ended
	September 30,
	2011			2010
Cash Flows From Operating Activities:
Net income	$	500		$	97
Adjustments to reconcile net income to net cash provided by operating activities:
Goodwill, impairment and other charges		126			589
Gain on sales of properties		(12	)		(5)
Net mark-to-market (gain) loss on derivatives		15			(27)
Depreciation and amortization		587			588
Amortization of nuclear fuel		51			36
Amortization of debt issuance costs and premium/discounts		17			19
Deferred income taxes and investment tax credits, net		380			409
Allowance for equity funds used during construction		(25	)		(40)
Other		8			13
Changes in assets and liabilities:
Receivables		52			(154)
Materials and supplies		(34	)		39
Accounts and wages payable		(191	)		(170)
Taxes accrued		94			99
Assets, other		64			(107)
Liabilities, other		(4	)		89
Pension and other postretirement benefits		(98	)		(12)
Counterparty collateral, net		37			(24)
Taum Sauk insurance recoveries, net of costs		(1	)		57
Net cash provided by operating activities		1,566			1,496
Cash Flows From Investing Activities:
Capital expenditures		(758	)		(757)
Nuclear fuel expenditures		(45	)		(24)
Purchases of securities - nuclear decommissioning trust fund		(163	)		(207)
Sales of securities - nuclear decommissioning trust fund		147			195
Proceeds from sales of properties		50			20
Other		12			(3)
Net cash used in investing activities		(757	)		(776)
Cash Flows From Financing Activities:
Dividends on common stock		(279	)		(276)
Capital issuance costs		–			(15)
Dividends paid to noncontrolling interest holders		(5	)		(7)
Short-term debt and credit facility repayments, net		(379	)		(325)
Redemptions, repurchases, and maturities:
Long-term debt		(150	)		(106)
Preferred stock		–			(52)
Issuances of common stock		49			60
Generator advances for construction refunded, net of receipts		(73	)		(18)
Other		5			5
Net cash used in financing activities		(832	)		(734)
Net change in cash and cash equivalents		(23	)		(14)
Cash and cash equivalents at beginning of year		545			622
Cash and cash equivalents at end of period	$	522		$	608