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

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME (LOSS)

(Unaudited, in millions, except per share amounts)

	Three Months Ended
	March 31,
	2012		2011
Operating Revenues:
Electric	$	1,310	$	1,470
Gas		348		434
Total operating revenues		1,658		1,904
Operating Expenses:
Fuel		327		379
Purchased power		163		227
Gas purchased for resale		215		288
Other operations and maintenance		427		463
Asset impairment		628		-
Depreciation and amortization		199		195
Taxes other than income taxes		121		125
Total operating expenses		2,080		1,677
Operating Income (Loss)		(422)		227
Other Income and Expenses:
Miscellaneous income		17		16
Miscellaneous expense		15		5
Total other income		2		11
Interest Charges		113		119
Income (Loss) Before Income Taxes (Benefit)		(533)		119
Income Taxes (Benefit)		(130)		45
Net Income (Loss)		(403)		74
Less: Net Income Attributable to Noncontrolling Interests		-		3
Net Income (Loss) Attributable to Ameren Corporation	$	(403)	$	71
Earnings (Loss) per Common Share - Basic and Diluted	$	(1.66)	$	0.29
Average Common Shares Outstanding		242.6		240.6

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	March 31,		December 31,
	2012		2011
ASSETS
Current Assets:
Cash and cash equivalents	$	208	$	255
Accounts receivable - trade, net		446		473
Unbilled revenue		232		324
Miscellaneous accounts and notes receivable		65		69
Materials and supplies		625		712
Mark-to-market derivative assets		167		115
Current regulatory assets		247		215
Other current assets		134		132
Total current assets		2,124		2,295
Property and Plant, Net		17,535		18,127
Investments and Other Assets:
Nuclear decommissioning trust fund		390		357
Goodwill		411		411
Intangible assets		9		7
Regulatory assets		1,657		1,603
Other assets		773		845
Total investments and other assets		3,240		3,223
TOTAL ASSETS	$	22,899	$	23,645
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	179	$	179
Short-term debt		126		148
Accounts and wages payable		366		693
Taxes accrued		101		65
Interest accrued		149		101
Customer deposits		98		98
Mark-to-market derivative liabilities		220		161
Current regulatory liabilities		138		133
Other current liabilities		237		207
Total current liabilities		1,614		1,785
Long-term Debt, Net		6,677		6,677
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		3,111		3,315
Accumulated deferred investment tax credits		77		79
Regulatory liabilities		1,483		1,502
Asset retirement obligations		434		428��
Pension and other postretirement benefits		1,357		1,344
Other deferred credits and liabilities		567		447
Total deferred credits and other liabilities		7,029		7,115
Ameren Corporation Stockholders’ Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		5,596		5,598
Retained earnings		1,869		2,369
Accumulated other comprehensive loss		(35)		(50)
Total Ameren Corporation stockholders’ equity		7,432		7,919
Noncontrolling Interests		147		149
Total equity		7,579		8,068
TOTAL LIABILITIES AND EQUITY	$	22,899	$	23,645

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Three Months Ended
	March 31,
	2012		2011
Cash Flows From Operating Activities:
Net income (loss)	$	(403)	$	74
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on asset impairment		628		-
Net mark-to-market gain on derivatives		(3)		(16)
Depreciation and amortization		188		187
Amortization of nuclear fuel		21		17
Amortization of debt issuance costs and premium/discounts		5		5
Deferred income taxes and investment tax credits, net		(142)		(16)
Allowance for equity funds used during construction		(9)		(6)
Other		(5)		-
Changes in assets and liabilities:
Receivables		109		94
Materials and supplies		80		135
Accounts and wages payable		(220)		(213)
Taxes accrued		35		71
Assets, other		14		50
Liabilities, other		64		80
Pension and other postretirement benefits		41		28
Counterparty collateral, net		(11)		70
Net cash provided by operating activities		392		560
Cash Flows From Investing Activities:
Capital expenditures		(282)		(231)
Nuclear fuel expenditures		(38)		(22)
Purchases of securities - nuclear decommissioning trust fund		(109)		(91)
Sales of securities - nuclear decommissioning trust fund		88		87
Proceeds from sale of property		16		-
Other		(1)		1
Net cash used in investing activities		(326)		(256)
Cash Flows From Financing Activities:
Dividends on common stock		(90)		(93)
Dividends paid to noncontrolling interest holders		(2)		(2)
Short-term debt and credit facility borrowings, net		(22)		(125)
Generator advances received for construction		1		-
Repayments of generator advances received for construction		-		(73)
Issuances of common stock		-		17
Net cash used in financing activities		(113)		(276)
Net change in cash and cash equivalents		(47)		28
Cash and cash equivalents at beginning of year		255		545
Cash and cash equivalents at end of period	$	208	$	573
Noncash financing activity - dividends on common stock	$	7	$	-