Ameren (AEE) 8-K Ameren Announces Second Quarter 2020 Results

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Operating Revenues:
Electric	$	1,237	$	1,218	$	2,357	$	2,400
Natural gas	161		161		481		535
Total operating revenues	1,398		1,379		2,838		2,935
Operating Expenses:
Fuel	119		102		259		262
Purchased power	109		136		243		292
Natural gas purchased for resale	42		44		149		205
Other operations and maintenance	384		450		822		867
Depreciation and amortization	271		249		526		497
Taxes other than income taxes	119		118		244		244
Total operating expenses	1,044		1,099		2,243		2,367
Operating Income	354		280		595		568
Other Income, Net	48		36		69		65
Interest Charges	108		97		201		194
Income Before Income Taxes	294		219		463		439
Income Taxes	50		39		71		66
Net Income	244		180		392		373
Less: Net Income Attributable to Noncontrolling Interests	1		1		3		3
Net Income Attributable to Ameren Common Shareholders	$	243	$	179	$	389	$	370
Earnings per Common Share – Basic	$	0.99	$	0.73	$	1.58	$	1.51
Earnings per Common Share – Diluted	$	0.98	$	0.72	$	1.57	$	1.50
Weighted-average Common Shares Outstanding – Basic	246.9		245.6		246.7		245.3
Weighted-average Common Shares Outstanding – Diluted	247.9		247.2		248.0		246.8

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	June 30, 2020		December 31, 2019
ASSETS
Current Assets:
Cash and cash equivalents	$	8	$	16
Accounts receivable - trade (less allowance for doubtful accounts)	486		393
Unbilled revenue	323		278
Miscellaneous accounts receivable	76		63
Inventories	514		494
Current regulatory assets	82		69
Other current assets	131		118
Total current assets	1,620		1,431
Property, Plant, and Equipment, Net	25,081		24,376
Investments and Other Assets:
Nuclear decommissioning trust fund	854		847
Goodwill	411		411
Regulatory assets	1,133		992
Other assets	917		876
Total investments and other assets	3,315		3,126
TOTAL ASSETS	$	30,016	$	28,933
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	357	$	442
Short-term debt	120		440
Accounts and wages payable	616		874
Taxes accrued	142		37
Interest accrued	118		94
Customer deposits	126		111
Current regulatory liabilities	147		164
Other current liabilities	374		343
Total current liabilities	2,000		2,505
Long-term Debt, Net	10,171		8,915
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	3,034		2,919
Regulatory liabilities	4,933		4,887
Asset retirement obligations	639		638
Pension and other postretirement benefits	414		401
Other deferred credits and liabilities	456		467
Total deferred credits and other liabilities	9,476		9,312
Ameren Corporation Shareholders’ Equity:
Common stock	2		2
Other paid-in capital, principally premium on common stock	5,716		5,694
Retained earnings	2,525		2,380
Accumulated other comprehensive loss	(16)		(17)
Total Ameren Corporation shareholders’ equity	8,227		8,059
Noncontrolling Interests	142		142
Total equity	8,369		8,201
TOTAL LIABILITIES AND EQUITY	$	30,016	$	28,933

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Six Months Ended June 30,
	2020		2019
Cash Flows From Operating Activities:
Net income	$	392	$	373
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	532		494
Amortization of nuclear fuel	45		33
Amortization of debt issuance costs and premium/discounts	11		9
Deferred income taxes and investment tax credits, net	68		54
Allowance for equity funds used during construction	(13)		(13)
Stock-based compensation costs	11		10
Other	5		(5)
Changes in assets and liabilities	(357)		(76)
Net cash provided by operating activities	694		879
Cash Flows From Investing Activities:
Capital expenditures	(1,228)		(1,125)
Nuclear fuel expenditures	(56)		(25)
Purchases of securities – nuclear decommissioning trust fund	(153)		(96)
Sales and maturities of securities – nuclear decommissioning trust fund	121		95
Purchase of bonds	—		(97)
Proceeds from sale of remarketed bonds	—		97
Other	1		(3)
Net cash used in investing activities	(1,315)		(1,154)
Cash Flows From Financing Activities:
Dividends on common stock	(244)		(233)
Dividends paid to noncontrolling interest holders	(3)		(3)
Short-term debt, net	(320)		401
Maturities of long-term debt	(85)		(329)
Issuances of long-term debt	1,263		450
Issuances of common stock	27		37
Employee payroll taxes related to stock-based compensation	(20)		(29)
Debt issuance costs	(10)		(4)
Net cash provided by financing activities	608		290
Net change in cash, cash equivalents, and restricted cash	(13)		15
Cash, cash equivalents, and restricted cash at beginning of year	176		107
Cash, cash equivalents, and restricted cash at end of period	$	163	$	122