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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Operating Revenues:
Electric	$	1,235	$	1,228	$	2,341	$	2,316
Gas		184		175		672		562
Total operating revenues		1,419		1,403		3,013		2,878
Operating Expenses:
Fuel		198		213		402		426
Purchased power		111		121		223		272
Gas purchased for resale		79		72		383		302
Other operations and maintenance		412		447		832		846
Depreciation and amortization		183		178		364		353
Taxes other than income taxes		114		111		241		233
Total operating expenses		1,097		1,142		2,445		2,432
Operating Income		322		261		568		446
Other Income and Expenses:
Miscellaneous income		21		16		39		31
Miscellaneous expense		4		5		13		13
Total other income		17		11		26		18
Interest Charges		89		100		181		201
Income Before Income Taxes		250		172		413		263
Income Taxes		99		66		163		101
Income from Continuing Operations		151		106		250		162
Loss from Discontinued Operations, Net of Taxes		(1)		(10)		(2)		(209)
Net Income (Loss)		150		96		248		(47)
Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests		1		1		3		3
Net Income (Loss) Attributable to Ameren Corporation:
Continuing Operations		150		105		247		159
Discontinued Operations		(1)		(10)		(2)		(209)
Net Income (Loss) Attributable to Ameren Corporation	$	149	$	95	$	245	$	(50)
Earnings (Loss) per Common Share - Basic:
Continuing Operations	$	0.62	$	0.44	$	1.02	$	0.66
Discontinued Operations		(0.01)		(0.05)		(0.01)		(0.87)
Earnings (Loss) per Common Share - Basic	$	0.61	$	0.39	$	1.01	$	(0.21)
Average Common Shares Outstanding - Basic		242.6		242.6		242.6		242.6

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30,      2014		December 31, 2013
ASSETS
Current Assets:
Cash and cash equivalents	$	46	$	30
Accounts receivable - trade (less allowance for doubtful accounts)		454		404
Unbilled revenue		299		304
Miscellaneous accounts and notes receivable		213		196
Materials and supplies		491		526
Current regulatory assets		202		156
Current accumulated deferred income taxes, net		177		106
Other current assets		68		85
Assets of discontinued operations		15		165
Total current assets		1,965		1,972
Property and Plant, Net		16,726		16,205
Investments and Other Assets:
Nuclear decommissioning trust fund		523		494
Goodwill		411		411
Intangible assets		19		22
Regulatory assets		1,213		1,240
Other assets		731		698
Total investments and other assets		2,897		2,865
TOTAL ASSETS	$	21,588	$	21,042
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	119	$	534
Short-term debt		793		368
Accounts and wages payable		575		806
Taxes accrued		132		55
Interest accrued		92		86
Current regulatory liabilities		218		216
Other current liabilities		350		351
Liabilities of discontinued operations		33		45
Total current liabilities		2,312		2,461
Long-term Debt, Net		5,825		5,504
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		3,526		3,250
Accumulated deferred investment tax credits		60		63
Regulatory liabilities		1,784		1,705
Asset retirement obligations		380		369
Pension and other postretirement benefits		463		466
Other deferred credits and liabilities		524		538
Total deferred credits and other liabilities		6,737		6,391
Ameren Corporation Stockholders’ Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		5,607		5,632
Retained earnings		957		907
Accumulated other comprehensive income		6		3
Total Ameren Corporation stockholders’ equity		6,572		6,544
Noncontrolling Interests		142		142
Total equity		6,714		6,686
TOTAL LIABILITIES AND EQUITY	$	21,588	$	21,042

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended June 30,
	2014		2013
Cash Flows From Operating Activities:
Net income (loss)	$	248	$	(47)
Loss from discontinued operations, net of taxes		2		209
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		349		334
Amortization of nuclear fuel		47		29
Amortization of debt issuance costs and premium/discounts		11		12
Deferred income taxes and investment tax credits, net		178		70
Allowance for equity funds used during construction		(16)		(16)
Stock-based compensation costs		15		14
Other		(8)		18
Changes in assets and liabilities		(168)		106
Net cash provided by operating activities - continuing operations		658		729
Net cash provided by (used in) operating activities - discontinued operations		(4)		39
Net cash provided by operating activities		654		768
Cash Flows From Investing Activities:
Capital expenditures		(883)		(575)
Nuclear fuel expenditures		(26)		(25)
Purchases of securities - nuclear decommissioning trust fund		(290)		(97)
Sales and maturities of securities - nuclear decommissioning trust fund		283		89
Proceeds from note receivable - Illinois Power Marketing Company		70		-
Contributions to note receivable - Illinois Power Marketing Company		(78)		-
Other		2		2
Net cash used in investing activities - continuing operations		(922)		(606)
Net cash provided by (used in) investing activities - discontinued operations		152		(31)
Net cash used in investing activities		(770)		(637)
Cash Flows From Financing Activities:
Dividends on common stock		(194)		(194)
Dividends paid to noncontrolling interest holders		(3)		(3)
Short-term debt, net		425		25
Redemptions of long-term debt		(692)		-
Issuances of long-term debt		598		-
Capital issuance costs		(4)		-
Advances received for construction		2		7
Net cash provided by (used in) financing activities - continuing operations		132		(165)
Net cash used in financing activities - discontinued operations		-		-
Net cash provided by (used in) financing activities		132		(165)
Net change in cash and cash equivalents		16		(34)
Cash and cash equivalents at beginning of year		30		209
Cash and cash equivalents at end of period		46		175
Less cash and cash equivalents at end of period - discontinued operations		-		25
Cash and cash equivalents at end of period - continuing operations	$	46	$	150