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 December 31,				Year Ended December 31,
	2014		2013		2014		2013
Operating Revenues:
Electric	$	1,049	$	1,009	$	4,913	$	4,832
Gas		321		313		1,140		1,006
Total operating revenues		1,370		1,322		6,053		5,838
Operating Expenses:
Fuel		188		197		826		845
Purchased power		119		102		454		502
Gas purchased for resale		183		182		615		526
Other operations and maintenance		455		388		1,691		1,617
Depreciation and amortization		194		178		745		706
Taxes other than income taxes		106		104		468		458
Total operating expenses		1,245		1,151		4,799		4,654
Operating Income		125		171		1,254		1,184
Other Income and Expense:
Miscellaneous income		19		18		79		69
Miscellaneous expense		2		8		22		26
Total other income		17		10		57		43
Interest Charges		75		109		341		398
Income Before Income Taxes		67		72		970		829
Income Taxes		20		23		377		311
Income from Continuing Operations		47		49		593		518
Income (Loss) from Discontinued Operations, Net of Taxes		2		(11)		(1)		(223)
Net Income		49		38		592		295
Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests		1		1		6		6
Net Income (Loss) Attributable to Ameren Corporation:
Continuing Operations		46		48		587		512
Discontinued Operations		2		(11)		(1)		(223)
Net Income Attributable to Ameren Corporation	$	48	$	37	$	586	$	289
Earnings (Loss) per Common Share – Basic:
Continuing Operations	$	0.19	$	0.19	$	2.42	$	2.11
Discontinued Operations		0.01		(0.04)		-		(0.92)
Earnings per Common Share – Basic	$	0.20	$	0.15	$	2.42	$	1.19
Earnings (Loss) per Common Share – Diluted:
Continuing Operations	$	0.19	$	0.19	$	2.40	$	2.10
Discontinued Operations		0.01		(0.04)		-		(0.92)
Earnings per Common Share – Diluted	$	0.20	$	0.15	$	2.40	$	1.18
Average Common Shares Outstanding – Basic		242.6		242.6		242.6		242.6
Average Common Shares Outstanding – Diluted		244.5		245.1		244.4		244.5

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31,    2014			December 31,    2013
ASSETS
Current Assets:
Cash and cash equivalents	$	5		$	30
Accounts receivable - trade (less allowance for doubtful accounts)		423			404
Unbilled revenue		265			304
Miscellaneous accounts and notes receivable		81			196
Materials and supplies		524			526
Current regulatory assets		295			156
Current accumulated deferred income taxes, net		352			106
Other current assets		86			85
Assets of discontinued operations		15			165
Total current assets		2,046			1,972
Property and Plant, Net		17,424			16,205
Investments and Other Assets:
Nuclear decommissioning trust fund		549			494
Goodwill		411			411
Regulatory assets		1,582			1,240
Other assets		664			720
Total investments and other assets		3,206			2,865
TOTAL ASSETS	$	22,676		$	21,042
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	120		$	534
Short-term debt		714			368
Accounts and wages payable		711			806
Taxes accrued		46			55
Interest accrued		85			86
Current regulatory liabilities		106			216
Other current liabilities		434			351
Liabilities of discontinued operations		33			45
Total current liabilities		2,249			2,461
Long-term Debt, Net		6,120			5,504
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		3,923			3,250
Accumulated deferred investment tax credits		64			63
Regulatory liabilities		1,850			1,705
Asset retirement obligations		396			369
Pension and other postretirement benefits		705			466
Other deferred credits and liabilities		514			538
Total deferred credits and other liabilities		7,452			6,391
Ameren Corporation Stockholders’ Equity:
Common stock		2			2
Other paid-in capital, principally premium on common stock		5,617			5,632
Retained earnings		1,103			907
Accumulated other comprehensive income (loss)		(9	)		3
Total Ameren Corporation stockholders’ equity		6,713			6,544
Noncontrolling Interests		142			142
Total equity		6,855			6,686
TOTAL LIABILITIES AND EQUITY	$	22,676		$	21,042

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended
	December 31,
	2014		2013
Cash Flows From Operating Activities:
Net income	$	592	$	295
Loss from discontinued operations, net of taxes		1		223
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		710		666
Amortization of nuclear fuel		81		71
Amortization of debt issuance costs and premium/discounts		22		24
Deferred income taxes and investment tax credits, net		451		410
Allowance for equity funds used during construction		(34)		(37)
Stock-based compensation costs		25		27
Other		(24)		23
Changes in assets and liabilities		(267)		(66)
Net cash provided by operating activities - continuing operations		1,557		1,636
Net cash provided by (used in) operating activities - discontinued operations		(6)		57
Net cash provided by operating activities		1,551		1,693
Cash Flows From Investing Activities:
Capital expenditures		(1,785)		(1,379)
Nuclear fuel expenditures		(74)		(45)
Purchases of securities - nuclear decommissioning trust fund		(405)		(214)
Sales and maturities of securities - nuclear decommissioning trust fund		391		196
Other		17		2
Net cash used in investing activities - continuing operations		(1,856)		(1,440)
Net cash provided by (used in) investing activities - discontinued operations		139		(283)
Net cash used in investing activities		(1,717)		(1,723)
Cash Flows From Financing Activities:
Dividends on common stock		(390)		(388)
Dividends paid to noncontrolling interest holders		(6)		(6)
Short-term debt, net		346		368
Maturities and redemptions of long-term debt		(697)		(399)
Issuances of long-term debt		898		278
Capital issuance costs		(11)		(2)
Other		1		-
Net cash provided by (used in) financing activities - continuing operations		141		(149)
Net change in cash and cash equivalents		(25)		(179)
Cash and cash equivalents at beginning of year		30		209
Cash and cash equivalents at end of year - continuing operations	$	5	$	30