Ameren (AEE) 8-K Ameren Announces 2020 Results

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,
	2020		2019		2020		2019
Operating Revenues:
Electric	$	1,065	$	1,053	$	4,911	$	4,981
Natural gas	263		263		883		929
Total operating revenues	1,328		1,316		5,794		5,910
Operating Expenses:
Fuel	90		126		490		535
Purchased power	130		116		513		556
Natural gas purchased for resale	89		95		272		331
Other operations and maintenance	421		444		1,661		1,745
Depreciation and amortization	276		250		1,075		995
Taxes other than income taxes	111		106		483		481
Total operating expenses	1,117		1,137		4,494		4,643
Operating Income	211		179		1,300		1,267
Other Income, Net	34		31		151		130
Interest Charges	108		91		419		381
Income Before Income Taxes	137		119		1,032		1,016
Income Taxes	21		24		155		182
Net Income	116		95		877		834
Less: Net Income Attributable to Noncontrolling Interests	1		1		6		6
Net Income Attributable to Ameren Common Shareholders	$	115	$	94	$	871	$	828
Earnings per Common Share – Basic	$	0.47	$	0.38	$	3.53	$	3.37
Earnings per Common Share – Diluted	$	0.46	$	0.38	$	3.50	$	3.35
Weighted-average Common Shares Outstanding – Basic	247.4		246.0		247.0		245.6
Weighted-average Common Shares Outstanding – Diluted	249.7		247.5		248.7		247.1

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

	December 31, 2020		December 31, 2019
ASSETS
Current Assets:
Cash and cash equivalents	$	139	$	16
Accounts receivable - trade (less allowance for doubtful accounts)	415		393
Unbilled revenue	269		278
Miscellaneous accounts receivable	65		63
Inventories	521		494
Current regulatory assets	109		69
Other current assets	135		118
Total current assets	1,653		1,431
Property, Plant, and Equipment, Net	26,807		24,376
Investments and Other Assets:
Nuclear decommissioning trust fund	982		847
Goodwill	411		411
Regulatory assets	1,100		992
Other assets	1,077		876
Total investments and other assets	3,570		3,126
TOTAL ASSETS	$	32,030	$	28,933
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt	$	8	$	442
Short-term debt	490		440
Accounts and wages payable	958		874
Interest accrued	114		94
Current regulatory liabilities	121		164
Other current liabilities	489		491
Total current liabilities	2,180		2,505
Long-term Debt, Net	11,078		8,915
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	3,211		2,919
Regulatory liabilities	5,282		4,887
Asset retirement obligations	696		638
Pension and other postretirement benefits	37		401
Other deferred credits and liabilities	466		467
Total deferred credits and other liabilities	9,692		9,312
Ameren Corporation Shareholders’ Equity:
Common stock	3		2
Other paid-in capital, principally premium on common stock	6,179		5,694
Retained earnings	2,757		2,380
Accumulated other comprehensive loss	(1)		(17)
Total Ameren Corporation shareholders’ equity	8,938		8,059
Noncontrolling Interests	142		142
Total equity	9,080		8,201
TOTAL LIABILITIES AND EQUITY	$	32,030	$	28,933

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

	Year Ended December 31,
	2020		2019
Cash Flows From Operating Activities:
Net income	$	877	$	834
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,085		1,002
Amortization of nuclear fuel	68		79
Amortization of debt issuance costs and premium/discounts	22		19
Deferred income taxes and investment tax credits, net	148		167
Allowance for equity funds used during construction	(32)		(28)
Stock-based compensation costs	21		20
Other	22		(14)
Changes in assets and liabilities	(484)		91
Net cash provided by operating activities	1,727		2,170
Cash Flows From Investing Activities:
Capital expenditures	(2,669)		(2,411)
Wind generation expenditures	(564)		—
Nuclear fuel expenditures	(66)		(31)
Purchases of securities – nuclear decommissioning trust fund	(224)		(256)
Sales and maturities of securities – nuclear decommissioning trust fund	183		260
Purchase of bonds	—		(207)
Proceeds from sale of remarketed bonds	—		207
Other	11		3
Net cash used in investing activities	(3,329)		(2,435)
Cash Flows From Financing Activities:
Dividends on common stock	(494)		(472)
Dividends paid to noncontrolling interest holders	(6)		(6)
Short-term debt, net	50		(157)
Maturities of long-term debt	(442)		(580)
Issuances of long-term debt	2,183		1,527
Issuances of common stock	476		68
Employee payroll taxes related to stock-based compensation	(20)		(29)
Debt issuance costs	(20)		(17)
Net cash provided by financing activities	1,727		334
Net change in cash, cash equivalents, and restricted cash	125		69
Cash, cash equivalents, and restricted cash at beginning of year	176		107
Cash, cash equivalents, and restricted cash at end of year	$	301	$	176