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

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,
	2020		2019		2020		2019
Operating Revenues:
Electric	$	1,489	$	1,528	$	3,846	$	3,928
Natural gas	139		131		620		666
Total operating revenues	1,628		1,659		4,466		4,594
Operating Expenses:
Fuel	141		147		400		409
Purchased power	140		148		383		440
Natural gas purchased for resale	34		31		183		236
Other operations and maintenance	418		434		1,240		1,301
Depreciation and amortization	273		248		799		745
Taxes other than income taxes	128		131		372		375
Total operating expenses	1,134		1,139		3,377		3,506
Operating Income	494		520		1,089		1,088
Other Income, Net	48		34		117		99
Interest Charges	110		96		311		290
Income Before Income Taxes	432		458		895		897
Income Taxes	63		92		134		158
Net Income	369		366		761		739
Less: Net Income Attributable to Noncontrolling Interests	2		2		5		5
Net Income Attributable to Ameren Common Shareholders	$	367	$	364	$	756	$	734
Earnings per Common Share – Basic	$	1.48	$	1.48	$	3.06	$	2.99
Earnings per Common Share – Diluted	$	1.47	$	1.47	$	3.04	$	2.97
Weighted-average Common Shares Outstanding – Basic	247.1		245.9		246.8		245.5
Weighted-average Common Shares Outstanding – Diluted	249.2		247.5		248.4		247.0

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	September 30, 2020		December 31, 2019
ASSETS
Current Assets:
Cash and cash equivalents	$	6	$	16
Accounts receivable - trade (less allowance for doubtful accounts)	525		393
Unbilled revenue	221		278
Miscellaneous accounts receivable	71		63
Inventories	557		494
Other current assets	210		187
Total current assets	1,590		1,431
Property, Plant, and Equipment, Net	25,541		24,376
Investments and Other Assets:
Nuclear decommissioning trust fund	904		847
Goodwill	411		411
Regulatory assets	1,078		992
Other assets	993		876
Total investments and other assets	3,386		3,126
TOTAL ASSETS	$	30,517	$	28,933
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	357	$	442
Short-term debt	272		440
Accounts and wages payable	640		874
Taxes accrued	199		37
Customer deposits	109		111
Current regulatory liabilities	96		164
Other current liabilities	432		437
Total current liabilities	2,105		2,505
Long-term Debt, Net	10,172		8,915
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	3,151		2,919
Regulatory liabilities	4,972		4,887
Asset retirement obligations	675		638
Pension and other postretirement benefits	373		401
Other deferred credits and liabilities	438		467
Total deferred credits and other liabilities	9,609		9,312
Ameren Corporation Shareholders’ Equity:
Common stock	2		2
Other paid-in capital, principally premium on common stock	5,733		5,694
Retained earnings	2,769		2,380
Accumulated other comprehensive loss	(15)		(17)
Total Ameren Corporation shareholders’ equity	8,489		8,059
Noncontrolling Interests	142		142
Total equity	8,631		8,201
TOTAL LIABILITIES AND EQUITY	$	30,517	$	28,933

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Nine Months Ended September 30,
	2020		2019
Cash Flows From Operating Activities:
Net income	$	761	$	739
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	802		745
Amortization of nuclear fuel	68		56
Amortization of debt issuance costs and premium/discounts	16		14
Deferred income taxes and investment tax credits, net	125		144
Allowance for equity funds used during construction	(25)		(20)
Stock-based compensation costs	16		15
Other	14		(11)
Changes in assets and liabilities	(448)		(14)
Net cash provided by operating activities	1,329		1,668
Cash Flows From Investing Activities:
Capital expenditures	(1,884)		(1,761)
Nuclear fuel expenditures	(61)		(26)
Purchases of securities – nuclear decommissioning trust fund	(169)		(192)
Sales and maturities of securities – nuclear decommissioning trust fund	135		184
Purchase of bonds	—		(207)
Proceeds from sale of remarketed bonds	—		207
Other	(2)		(3)
Net cash used in investing activities	(1,981)		(1,798)
Cash Flows From Financing Activities:
Dividends on common stock	(367)		(350)
Dividends paid to noncontrolling interest holders	(5)		(5)
Short-term debt, net	(168)		(53)
Maturities of long-term debt	(85)		(329)
Issuances of long-term debt	1,263		900
Issuances of common stock	37		54
Employee payroll taxes related to stock-based compensation	(20)		(29)
Debt issuance costs	(11)		(10)
Net cash provided by financing activities	644		178
Net change in cash, cash equivalents, and restricted cash	(8)		48
Cash, cash equivalents, and restricted cash at beginning of year	176		107
Cash, cash equivalents, and restricted cash at end of period	$	168	$	155