Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | AEE | |
Entity Registrant Name | AMEREN CORP | |
Entity Central Index Key | 1,002,910 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 242,634,798 | |
Union Electric Company | ||
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | UNION ELECTRIC CO | |
Entity Central Index Key | 100,826 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 102,123,834 | |
Ameren Illinois Company | ||
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | AMEREN ILLINOIS CO | |
Entity Central Index Key | 18,654 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 25,452,373 |
Consolidated Statement of Incom
Consolidated Statement of Income (Loss) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Operating Revenues: | |||||
Electric | $ 1,383 | $ 1,274 | $ 2,589 | $ 2,376 | |
Gas | 155 | 153 | 463 | 485 | |
Total operating revenues | 1,538 | 1,427 | 3,052 | 2,861 | |
Operating Expenses: | |||||
Fuel | 189 | 166 | 395 | 369 | |
Purchased power | 149 | 135 | 329 | 273 | |
Gas purchased for resale | 41 | 41 | 171 | 193 | |
Other operations and maintenance | 422 | 435 | 827 | 835 | |
Depreciation and amortization | 222 | 210 | 443 | 417 | |
Taxes other than income taxes | 117 | 115 | 235 | 229 | |
Total operating expenses | 1,140 | 1,102 | 2,400 | 2,316 | |
Operating Income | 398 | 325 | 652 | 545 | |
Other Income and Expenses: | |||||
Miscellaneous income | [1] | 14 | 16 | 29 | 36 |
Miscellaneous expense | [1] | 5 | 6 | 14 | 13 |
Total other income (expense) | 9 | 10 | 15 | 23 | |
Interest Charges | 99 | 95 | 198 | 190 | |
Income Before Income Taxes | 308 | 240 | 469 | 378 | |
Income Taxes | 114 | 92 | 171 | 123 | |
Net income | 194 | 148 | 298 | 255 | |
Pension and other postretirement benefit plan activity, net of income taxes (benefit) | 2 | 4 | 2 | 2 | |
Comprehensive Income | 195 | 151 | 297 | 254 | |
Less: Net Income Attributable to Noncontrolling Interests | 1 | 1 | 3 | 3 | |
Net Income Attributable to Ameren Common Shareholders | $ 193 | $ 147 | $ 295 | $ 252 | |
Earnings Per Share, Basic and Diluted [Abstract] | |||||
Earnings Per Share, Basic and Diluted | $ 0.79 | $ 0.61 | $ 1.21 | $ 1.04 | |
Dividends per Common Share | $ 0.44 | $ 0.425 | $ 0.88 | $ 0.85 | |
Average Common Shares Outstanding - Basic | 242.6 | 242.6 | 242.6 | 242.6 | |
Union Electric Company | |||||
Operating Revenues: | |||||
Electric | $ 913 | $ 844 | $ 1,659 | $ 1,538 | |
Gas | 22 | 23 | 66 | 70 | |
Total operating revenues | 935 | 867 | 1,725 | 1,608 | |
Operating Expenses: | |||||
Fuel | 189 | 166 | 395 | 369 | |
Purchased power | 68 | 50 | 159 | 92 | |
Gas purchased for resale | 5 | 6 | 25 | 27 | |
Other operations and maintenance | 219 | 238 | 431 | 450 | |
Depreciation and amortization | 132 | 127 | 265 | 254 | |
Taxes other than income taxes | 85 | 83 | 160 | 156 | |
Total operating expenses | 698 | 670 | 1,435 | 1,348 | |
Operating Income | 237 | 197 | 290 | 260 | |
Other Income and Expenses: | |||||
Miscellaneous income | 11 | 9 | 23 | 24 | |
Miscellaneous expense | 2 | 2 | 4 | 4 | |
Total other income (expense) | 9 | 7 | 19 | 20 | |
Interest Charges | 53 | 53 | 107 | 105 | |
Income Before Income Taxes | 193 | 151 | 202 | 175 | |
Income Taxes | 72 | 58 | 75 | 67 | |
Net income | 121 | 93 | 127 | 108 | |
Other Comprehensive Income | 0 | 0 | 0 | 0 | |
Comprehensive Income | 121 | 93 | 127 | 108 | |
Earnings Per Share, Basic and Diluted [Abstract] | |||||
Preferred Stock Dividends | 1 | 1 | 2 | 2 | |
Net Income Available to Common Stockholder | 120 | 92 | 125 | 106 | |
Ameren Illinois Company | |||||
Operating Revenues: | |||||
Electric | 441 | 411 | 880 | 803 | |
Gas | 134 | 131 | 398 | 416 | |
Other Revenue, Net | 1 | 0 | 1 | 0 | |
Total operating revenues | 576 | 542 | 1,279 | 1,219 | |
Operating Expenses: | |||||
Purchased power | 87 | 90 | 188 | 194 | |
Gas purchased for resale | 36 | 35 | 146 | 166 | |
Other operations and maintenance | 210 | 200 | 407 | 394 | |
Depreciation and amortization | 85 | 80 | 168 | 157 | |
Taxes other than income taxes | 28 | 30 | 68 | 68 | |
Total operating expenses | 446 | 435 | 977 | 979 | |
Operating Income | 130 | 107 | 302 | 240 | |
Other Income and Expenses: | |||||
Miscellaneous income | 3 | 6 | 6 | 11 | |
Miscellaneous expense | 2 | 3 | 8 | 8 | |
Total other income (expense) | 1 | 3 | (2) | 3 | |
Interest Charges | 36 | 35 | 73 | 70 | |
Income Before Income Taxes | 95 | 75 | 227 | 173 | |
Income Taxes | 37 | 29 | 89 | 67 | |
Net income | 58 | 46 | 138 | 106 | |
Pension and other postretirement benefit plan activity, net of income taxes (benefit) | 0 | (1) | 0 | (2) | |
Comprehensive Income | 58 | 45 | 138 | 104 | |
Earnings Per Share, Basic and Diluted [Abstract] | |||||
Preferred Stock Dividends | 1 | 1 | 2 | 2 | |
Net Income Available to Common Stockholder | $ 57 | $ 45 | $ 136 | $ 104 | |
[1] | Includes amounts for Ameren registrant and nonregistrant subsidiaries and intercompany eliminations. |
Consolidated Statement of Inco3
Consolidated Statement of Income (Loss) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Pension and other postretirement benefit plan activity, tax expense (benefit) | $ 1 | $ 3 | $ 1 | $ 4 |
Ameren Illinois Company | ||||
Pension and other postretirement benefit plan activity, tax expense (benefit) | $ 0 | $ 0 | $ 0 | $ (1) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 194 | $ 148 | $ 298 | $ 255 |
Other Comprehensive Income, Net of Taxes | ||||
Pension and other postretirement benefit plan activity, net of income taxes (benefit) | 2 | 4 | 2 | 2 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 196 | 152 | 300 | 257 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 1 | 1 | 3 | 3 |
Comprehensive Income Attributable to Ameren Common Shareholders | $ 195 | $ 151 | $ 297 | $ 254 |
Consolidated Statement of Comp5
Consolidated Statement of Comprehensive Income (Loss) Consolidated Statement of Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Pension and other postretirement benefit plan activity, tax expense (benefit) | $ 1 | $ 3 | $ 1 | $ 4 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 10 | $ 9 |
Accounts receivable - trade (less allowance for doubtful accounts) | 446 | 437 |
Unbilled revenue | 334 | 295 |
Miscellaneous accounts and notes receivable | 77 | 63 |
Inventories | 512 | 527 |
Current regulatory assets | 95 | 149 |
Other current assets | 97 | 113 |
Total current assets | 1,571 | 1,593 |
Property and Plant, Net | 20,589 | 20,113 |
Investments and Other Assets: | ||
Nuclear decommissioning trust fund | 651 | 607 |
Goodwill | 411 | 411 |
Regulatory assets | 1,506 | 1,437 |
Other assets | 526 | 538 |
Total investments and other assets | 3,094 | 2,993 |
TOTAL ASSETS | 25,254 | 24,699 |
Current Liabilities: | ||
Current maturities of long-term debt | 578 | 681 |
Short-term Debt | 892 | 558 |
Accounts and wages payable | 522 | 805 |
Taxes accrued | 122 | 46 |
Interest accrued | 104 | 93 |
Customer deposits | 108 | 107 |
Current regulatory liabilities | 141 | 110 |
Other current liabilities | 298 | 274 |
Total current liabilities | 2,765 | 2,674 |
Long-term Debt, Net | 6,821 | 6,595 |
Deferred Credits and Other Liabilities: | ||
Accumulated deferred income taxes, net | 4,444 | 4,264 |
Accumulated deferred investment tax credits | 52 | 55 |
Regulatory liabilities | 2,003 | 1,985 |
Asset retirement obligations | 634 | 635 |
Pension and other postretirement benefits | 758 | 769 |
Other deferred credits and liabilities | 477 | 477 |
Total deferred credits and other liabilities | 8,368 | 8,185 |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Common Stock | 2 | 2 |
Other paid-in capital | 5,528 | 5,556 |
Retained earnings | 1,649 | 1,568 |
Accumulated other comprehensive income (loss) | (21) | (23) |
Stockholder's equity | 7,158 | 7,103 |
Noncontrolling Interest | 142 | 142 |
Total equity | 7,300 | 7,245 |
TOTAL LIABILITIES AND EQUITY | 25,254 | 24,699 |
Union Electric Company | ||
Current Assets: | ||
Cash and cash equivalents | 0 | 0 |
Advances to money pool | 0 | 161 |
Accounts receivable - trade (less allowance for doubtful accounts) | 212 | 187 |
Accounts receivable - affiliates | 15 | 12 |
Unbilled revenue | 230 | 154 |
Miscellaneous accounts and notes receivable | 34 | 14 |
Inventories | 399 | 392 |
Current regulatory assets | 17 | 35 |
Other current assets | 43 | 49 |
Total current assets | 950 | 1,004 |
Property and Plant, Net | 11,497 | 11,478 |
Investments and Other Assets: | ||
Nuclear decommissioning trust fund | 651 | 607 |
Regulatory assets | 590 | 619 |
Other assets | 317 | 327 |
Total investments and other assets | 1,558 | 1,553 |
TOTAL ASSETS | 14,005 | 14,035 |
Current Liabilities: | ||
Current maturities of long-term debt | 185 | 431 |
Short-term Debt | 60 | 0 |
Accounts and wages payable | 208 | 444 |
Accounts payable - affiliates | 122 | 68 |
Taxes accrued | 113 | 30 |
Interest accrued | 67 | 54 |
Current regulatory liabilities | 29 | 12 |
Other current liabilities | 130 | 123 |
Total current liabilities | 914 | 1,162 |
Long-term Debt, Net | 3,781 | 3,563 |
Deferred Credits and Other Liabilities: | ||
Accumulated deferred income taxes, net | 3,030 | 3,013 |
Accumulated deferred investment tax credits | 50 | 53 |
Regulatory liabilities | 1,255 | 1,215 |
Asset retirement obligations | 629 | 629 |
Pension and other postretirement benefits | 287 | 291 |
Other deferred credits and liabilities | 16 | 19 |
Total deferred credits and other liabilities | 5,267 | 5,220 |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Common Stock | 511 | 511 |
Other paid-in capital | 1,828 | 1,828 |
Preferred stock | 80 | 80 |
Retained earnings | 1,624 | 1,671 |
Stockholder's equity | 4,043 | 4,090 |
TOTAL LIABILITIES AND EQUITY | 14,005 | 14,035 |
Ameren Illinois Company | ||
Current Assets: | ||
Cash and cash equivalents | 0 | 0 |
Accounts receivable - trade (less allowance for doubtful accounts) | 219 | 242 |
Accounts receivable - affiliates | 69 | 10 |
Unbilled revenue | 104 | 141 |
Miscellaneous accounts and notes receivable | 14 | 22 |
Inventories | 114 | 135 |
Current regulatory assets | 75 | 108 |
Other current assets | 11 | 25 |
Total current assets | 606 | 683 |
Property and Plant, Net | 7,780 | 7,469 |
Investments and Other Assets: | ||
Goodwill | 411 | 411 |
Regulatory assets | 907 | 816 |
Other assets | 97 | 95 |
Total investments and other assets | 1,415 | 1,322 |
TOTAL ASSETS | 9,801 | 9,474 |
Current Liabilities: | ||
Current maturities of long-term debt | 394 | 250 |
Short-term Debt | 159 | 51 |
Accounts and wages payable | 236 | 264 |
Accounts payable - affiliates | 55 | 63 |
Taxes accrued | 7 | 16 |
Interest accrued | 31 | 33 |
Customer deposits | 69 | 69 |
Current environmental remediation | 37 | 38 |
Current regulatory liabilities | 95 | 78 |
Other current liabilities | 128 | 109 |
Total current liabilities | 1,211 | 971 |
Long-term Debt, Net | 2,195 | 2,338 |
Deferred Credits and Other Liabilities: | ||
Accumulated deferred income taxes, net | 1,748 | 1,631 |
Accumulated deferred investment tax credits | 2 | 2 |
Regulatory liabilities | 745 | 768 |
Pension and other postretirement benefits | 350 | 346 |
Environmental remediation | 152 | 162 |
Other deferred credits and liabilities | 228 | 222 |
Total deferred credits and other liabilities | 3,225 | 3,131 |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Common Stock | 0 | 0 |
Other paid-in capital | 2,005 | 2,005 |
Preferred stock | 62 | 62 |
Retained earnings | 1,103 | 967 |
Stockholder's equity | 3,170 | 3,034 |
TOTAL LIABILITIES AND EQUITY | $ 9,801 | $ 9,474 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions, $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts receivable - trade allowance for doubtful accounts | $ 21 | $ 19 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 400 | 400 |
Common stock, shares outstanding | 242.6 | 242.6 |
Union Electric Company | ||
Accounts receivable - trade allowance for doubtful accounts | $ 8 | $ 7 |
Common stock, par value | $ 5 | $ 5 |
Common stock, shares authorized | 150 | 150 |
Common stock, shares outstanding | 102.1 | 102.1 |
Ameren Illinois Company | ||
Accounts receivable - trade allowance for doubtful accounts | $ 13 | $ 12 |
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares authorized | 45 | 45 |
Common stock, shares outstanding | 25.5 | 25.5 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | ||
Cash Flows From Operating Activities: | |||
Net income | $ 298 | $ 255 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 433 | 419 | |
Amortization of nuclear fuel | 48 | 38 | |
Amortization of debt issuance costs and premium/discounts | 11 | 11 | |
Deferred income taxes and investment tax credits, net | 175 | 134 | |
Allowance for equity funds used during construction | [1] | (10) | (13) |
Share-based compensation costs | 8 | 12 | |
Other | (5) | (7) | |
Changes in assets and liabilities: | |||
Receivables | (54) | (111) | |
Inventories | 14 | 23 | |
Accounts and wages payable | (183) | (200) | |
Taxes accrued | 83 | 80 | |
Regulatory assets and liabilities | (4) | 108 | |
Assets, other | 22 | 24 | |
Liabilities, other | 21 | (14) | |
Pension and other postretirement benefits | 6 | 4 | |
Net cash provided by operating activities | 863 | 763 | |
Cash Flows From Investing Activities: | |||
Capital expenditures | (998) | (1,000) | |
Nuclear fuel expenditures | (50) | (24) | |
Purchases of securities - nuclear decommissioning trust fund | (213) | (201) | |
Sales and maturities of securities - nuclear decommissioning trust fund | 204 | 192 | |
Other | (2) | (2) | |
Net cash used in investing activities | (1,059) | (1,035) | |
Cash Flows From Financing Activities: | |||
Dividends on common stock | (214) | (206) | |
Dividends paid to noncontrolling interest holders | (3) | (3) | |
Short-term debt, net | 334 | 477 | |
Maturities of Long-term Debt | (425) | (389) | |
Proceeds from Issuance of Long-term Debt | 549 | 149 | |
Share-based payments | (39) | (32) | |
Capital issuance costs | (4) | (1) | |
Other | (1) | (2) | |
Net cash provided by (used in) financing activities | 197 | (7) | |
Net change in cash and cash equivalents | 1 | (279) | |
Cash and cash equivalents at beginning of period | 9 | 292 | |
Cash and cash equivalents at end of period | 10 | 13 | |
Union Electric Company | |||
Cash Flows From Operating Activities: | |||
Net income | 127 | 108 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 255 | 257 | |
Amortization of nuclear fuel | 48 | 38 | |
Amortization of debt issuance costs and premium/discounts | 3 | 3 | |
Deferred income taxes and investment tax credits, net | 13 | 66 | |
Allowance for equity funds used during construction | (9) | (10) | |
Other | 3 | 0 | |
Changes in assets and liabilities: | |||
Receivables | (124) | (103) | |
Inventories | (7) | (9) | |
Accounts and wages payable | (169) | (174) | |
Taxes accrued | 153 | 80 | |
Regulatory assets and liabilities | 57 | 55 | |
Assets, other | 19 | 14 | |
Liabilities, other | 24 | 37 | |
Pension and other postretirement benefits | 3 | 2 | |
Net cash provided by operating activities | 396 | 364 | |
Cash Flows From Investing Activities: | |||
Capital expenditures | (355) | (353) | |
Nuclear fuel expenditures | (50) | (24) | |
Purchases of securities - nuclear decommissioning trust fund | (213) | (201) | |
Sales and maturities of securities - nuclear decommissioning trust fund | 204 | 192 | |
Money pool advances, net | 161 | 36 | |
Other | 0 | (4) | |
Net cash used in investing activities | (253) | (354) | |
Cash Flows From Financing Activities: | |||
Dividends on common stock | (172) | (210) | |
Dividends on preferred stock | (2) | (2) | |
Short-term debt, net | 60 | 77 | |
Maturities of Long-term Debt | (425) | (260) | |
Proceeds from Issuance of Long-term Debt | 399 | 149 | |
Capital contribution from parent | 0 | 38 | |
Capital issuance costs | (3) | (1) | |
Net cash provided by (used in) financing activities | (143) | (209) | |
Net change in cash and cash equivalents | 0 | (199) | |
Cash and cash equivalents at beginning of period | 0 | 199 | |
Cash and cash equivalents at end of period | 0 | 0 | |
Ameren Illinois Company | |||
Cash Flows From Operating Activities: | |||
Net income | 138 | 106 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 168 | 156 | |
Amortization of debt issuance costs and premium/discounts | 7 | 7 | |
Deferred income taxes and investment tax credits, net | 116 | 65 | |
Allowance for equity funds used during construction | (1) | (3) | |
Other | 0 | (6) | |
Changes in assets and liabilities: | |||
Receivables | 70 | (5) | |
Inventories | 20 | 32 | |
Accounts and wages payable | (17) | (20) | |
Taxes accrued | (68) | (14) | |
Regulatory assets and liabilities | (54) | 48 | |
Assets, other | 3 | 11 | |
Liabilities, other | (10) | (1) | |
Pension and other postretirement benefits | 2 | 3 | |
Net cash provided by operating activities | 375 | 382 | |
Cash Flows From Investing Activities: | |||
Capital expenditures | (484) | (442) | |
Other | 4 | 4 | |
Net cash used in investing activities | (480) | (438) | |
Cash Flows From Financing Activities: | |||
Dividends on common stock | 0 | (60) | |
Dividends on preferred stock | (2) | (2) | |
Short-term debt, net | 108 | 177 | |
Maturities of Long-term Debt | 0 | (129) | |
Other | (1) | (1) | |
Net cash provided by (used in) financing activities | 105 | (15) | |
Net change in cash and cash equivalents | 0 | (71) | |
Cash and cash equivalents at beginning of period | 0 | 71 | |
Cash and cash equivalents at end of period | $ 0 | $ 0 | |
[1] | Includes amounts for Ameren registrant and nonregistrant subsidiaries and intercompany eliminations. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Ameren, headquartered in St. Louis, Missouri, is a public utility holding company under PUHCA 2005. Ameren’s primary assets are its equity interests in its subsidiaries. Ameren’s subsidiaries are separate, independent legal entities with separate businesses, assets, and liabilities. Dividends on Ameren’s common stock and the payment of expenses by Ameren depend on distributions made to it by its subsidiaries. Ameren’s principal subsidiaries, Ameren Missouri, Ameren Illinois, and ATXI, are described below. Ameren also has other subsidiaries that conduct other activities, such as the provision of shared services. Ameren is also evaluating competitive electric transmission investment opportunities outside of MISO as they arise. • Union Electric Company, doing business as Ameren Missouri, operates a rate-regulated electric generation, transmission, and distribution business and a rate-regulated natural gas distribution business in Missouri. • Ameren Illinois Company, doing business as Ameren Illinois, operates rate-regulated electric transmission, electric distribution, and natural gas distribution businesses in Illinois. • ATXI operates a FERC rate-regulated electric transmission business. ATXI is developing MISO-approved electric transmission projects, including the Illinois Rivers, Spoon River, and Mark Twain projects. Ameren’s financial statements are prepared on a consolidated basis and therefore include the accounts of its majority-owned subsidiaries. All intercompany transactions have been eliminated. Ameren Missouri and Ameren Illinois have no subsidiaries. All tabular dollar amounts are in millions, unless otherwise indicated. Also see the Glossary of Terms and Abbreviations at the front of this report and in the Form 10-K. Our accounting policies conform to GAAP. Our financial statements reflect all adjustments (which include normal, recurring adjustments) that are necessary, in our opinion, for a fair statement of our results. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the dates of financial statements, and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. The results of operations of an interim period may not give a true indication of results that may be expected for a full year. See Note 2 – Rate and Regulatory Matters for information regarding the 2017 change in Ameren Illinois' method used to recognize interim period revenue in connection with the revenue decoupling provisions of the FEJA. These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K. Discontinued operations were immaterial to all periods presented in Ameren’s financial statements. As such, the “Assets of discontinued operations” and “Liabilities of discontinued operations” included on the December 31, 2016 balance sheet have been reclassified in this report to “Other current assets” and “Other current liabilities,” respectively. See Note 1 – Summary of Significant Accounting Policies under Part II, Item 8, of the Form 10-K for additional information. Asset Retirement Obligations The following table provides a reconciliation of the beginning and ending carrying amount of AROs for the six months ended June 30, 2017 : Ameren Missouri Ameren Illinois (a) Ameren Balance at December 31, 2016 $ 644 (b) $ 6 $ 650 (b) Liabilities settled (1 ) (c) (1 ) Accretion (d) 13 (c) 13 Change in estimates (e) (12 ) (1 ) (13 ) Balance at June 30, 2017 $ 644 (b) $ 5 $ 649 (b) (a) Included in “Other deferred credits and liabilities” on the balance sheet. (b) Balance included $15 million in “Other current liabilities” on the balance sheet as of December 31, 2016 and June 30, 2017, respectively. (c) Less than $1 million. (d) Accretion expense was recorded as a decrease to regulatory liabilities. (e) Ameren Missouri changed its fair value estimate primarily related to extending the remediation period of certain CCR storage facilities. Share-based Compensation A summary of nonvested performance share units at June 30, 2017 , and changes during the six months ended June 30, 2017 , under the 2014 Incentive Plan are presented below: Performance Share Units Share Units Weighted-average Fair Value per Share Unit Nonvested at January 1, 2017 1,059,639 $ 48.04 Granted (a) 498,940 59.16 Forfeitures (38,521 ) 52.40 Vested (b) (5,992 ) 52.88 Nonvested at June 30, 2017 1,514,066 $ 51.57 (a) Performance share units granted to certain executive and nonexecutive officers and other eligible employees under the 2014 Incentive Plan. (b) Performance share units vested due to the attainment of retirement eligibility by certain employees. Actual shares issued for retirement-eligible employees vary depending on actual performance over the three -year measurement period. The fair value of each performance share unit awarded in 2017 under the 2014 Incentive Plan was determined to be $59.16 , which was based on Ameren’s closing common share price of $52.46 at December 31, 2016 , and lattice simulations. Lattice simulations are used to estimate expected share payout based on Ameren’s total shareholder return for a three -year performance period beginning January 1, 2017, relative to the designated peer group. The simulations can produce a greater fair value for the performance share unit than the December 31 applicable closing common share price because they include the weighted payout scenarios in which an increase in the share price has occurred. The significant assumptions used to calculate fair value also included a three -year risk-free rate of 1.47% , volatility of 15% to 21% for the peer group, and Ameren’s attainment of a three-year average earnings per share threshold during the performance period. Operating Revenue The Ameren Companies record operating revenue for electric or natural gas service when it is delivered to customers. We accrue an estimate of electric and natural gas revenues for service rendered but unbilled at the end of each accounting period. For certain regulatory recovery mechanisms qualifying as alternative revenue programs, such as revenue requirement reconciliations, the Ameren Companies recognize revenues that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected from customers within two years from the end of the year. Excise Taxes Ameren Missouri and Ameren Illinois collect certain excise taxes from customers that are levied on the sale or distribution of natural gas and electricity. Excise taxes are levied on Ameren Missouri’s electric and natural gas businesses and on Ameren Illinois’ natural gas business and are recorded gross in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” on the statement of income or the statement of income and comprehensive income. Excise taxes for electric service in Illinois are levied on the customer and therefore are not included in Ameren Illinois’ revenues and expenses. The following table presents excise taxes recorded in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months 2017 2016 2017 2016 Ameren Missouri $ 40 $ 40 $ 71 $ 70 Ameren Illinois 11 11 30 31 Ameren $ 51 $ 51 $ 101 $ 101 Earnings Per Share There were no material differences between Ameren’s basic and diluted earnings per share amounts for the three and six months ended June 30, 2017 and 2016 . The assumed settlement of dilutive performance share units had an immaterial impact on earnings per share. There were no potentially dilutive securities excluded from the earnings per diluted share calculations for the three and six months ended June 30, 2017 and 2016 . Income Taxes In July 2017, the Illinois legislature passed a bill that increased the state's corporate income tax rate from 7.75% to 9.5% as of July 1, 2017. The bill made the increase in the state’s corporate income tax rate, which was previously scheduled to decrease to 7.3% in 2025, permanent. Ameren's consolidated 2017 net income is expected to decrease by $15 million , including an expense of $14 million at Ameren (parent), due to the revaluation of accumulated deferred taxes and the estimated state apportionment of such taxes. Beyond this decrease, Ameren does not expect this tax increase to have a material impact on its consolidated net income prospectively. The tax increase is not expected to materially impact the earnings of the Ameren Illinois Electric Distribution, Ameren Transmission, nor Ameren Illinois Transmission segments since these businesses operate under formula ratemaking frameworks. The tax increase is expected to unfavorably affect 2017 net income of the Ameren Illinois Natural Gas segment by less than $1 million. In addition, in the third quarter of 2017, Ameren’s and Ameren Illinois’ accumulated deferred tax balances will be revalued using the state’s new corporate income tax rate, which is expected to result in a net increase to the liability balances of $97 million and $79 million, respectively. These increased liabilities will be offset by a regulatory asset, as well as income tax expense, as discussed above. Accounting and Reporting Developments Below is a summary of updates related to our adoption of recently issued authoritative accounting standards. See Note 1 – Summary of Significant Accounting Policies under Part II, Item 8, of the Form 10-K for additional information about recently issued authoritative accounting standards relating to leases, financial instruments, and restricted cash. Revenue from Contracts with Customers In May 2014, the FASB issued authoritative guidance that changes the criteria for recognizing revenue from a contract with a customer. The underlying principle of the guidance is that an entity will recognize revenue for the transfer of promised goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance requires additional disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, as well as separate presentation of alternative revenue programs on the income statement. Entities can apply the guidance to each reporting period presented (the full retrospective method) or by recording a cumulative effect adjustment to retained earnings in the period of initial adoption (the modified retrospective method). We have substantially completed the evaluation of our contracts and do not expect material changes to the amount or timing of revenue recognition. We currently plan to apply the guidance using the full retrospective method and to include disaggregated revenue disclosures by segment and customer class in the combined notes to the financial statements in the first quarter of 2018. We will finalize our contract assessments and our selection of transition method by the end of 2017. Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued authoritative guidance that requires an entity to retrospectively report the service cost component of net benefit cost in the same line item(s) as other compensation costs arising from services rendered by employees during the period and to present the other components of net benefit cost in the income statement separately from the service cost component, and outside of operating income. The guidance also requires that an entity only capitalize the service cost component as part of an asset such as inventory or property, plant, and equipment on a prospective basis. Previously, all of the net benefit cost components were eligible for capitalization. The adoption of this guidance in the first quarter of 2018 may result in the recognition of new regulatory assets or liabilities related to the recovery or return of the non-service cost components of net benefit cost. See Note 11 – Retirement Benefits for the components of net benefit cost. We are currently assessing the impacts of this guidance on our results of operations, financial position, and disclosures. |
Rate And Regulatory Matters
Rate And Regulatory Matters | 6 Months Ended |
Jun. 30, 2017 | |
Public Utilities, General Disclosures [Abstract] | |
RATE AND REGULATORY MATTERS | RATE AND REGULATORY MATTERS Below is a summary of updates to significant regulatory proceedings and related lawsuits. See also Note 2 – Rate and Regulatory Matters under Part II, Item 8, of the Form 10-K. We are unable to predict the ultimate outcome of these matters, the timing of the final decisions of the various agencies and courts, or the impact on our results of operations, financial position, or liquidity. Missouri March 2017 Electric Rate Order In March 2017, the MoPSC issued an order approving a unanimous stipulation and agreement in Ameren Missouri’s July 2016 regulatory rate review. The order resulted in a $3.4 billion revenue requirement, which is a $92 million increase in Ameren Missouri’s annual revenue requirement for electric service, compared to its prior revenue requirement established in the MoPSC's April 2015 electric rate order. The new rates, base level of expenses, and amortizations became effective on April 1, 2017. The order authorized the continued use of the FAC and the regulatory tracking mechanisms for pension and postretirement benefits, uncertain income tax positions, and renewable energy standards that the MoPSC authorized in earlier electric rate orders. These regulatory tracking mechanisms provide for a base level of expense to be reflected in Ameren Missouri’s base electric rates with differences in the actual expenses incurred recorded as a regulatory asset or liability. Excluding cost reductions associated with reduced sales volumes, the base level of net energy costs decreased by $54 million from the base level established in the MoPSC's April 2015 electric rate order. Changes in amortizations and the base level of expenses for the other regulatory tracking mechanisms, including extending the amortization period of certain regulatory assets, reduced expenses by $26 million from the base levels established in the MoPSC's April 2015 electric rate order. ATXI’s Mark Twain Project The Mark Twain project is a MISO-approved transmission line to be located in northeast Missouri. In April 2016, the MoPSC granted ATXI a certificate of convenience and necessity for the Mark Twain project conditioned upon ATXI obtaining county assents for road crossings. None of the five county commissions have approved ATXI’s requests for the assents. In October 2016, ATXI filed suit in the circuit courts for each of the five counties to obtain the assents for the original project route. In July 2017, ATXI withdrew its lawsuit against one of the counties. The timing of a decision in each of the other four lawsuits is uncertain. In March 2017, the MoPSC’s April 2016 order was vacated by the Missouri Court of Appeals, Western District, which ruled that the MoPSC could not lawfully grant a certificate of convenience and necessity conditioned upon ATXI obtaining the assents. In the second quarter of 2017, ATXI appealed the March 2017 Court of Appeals decision to the Missouri Supreme Court, which subsequently declined to hear the appeal. In April 2017, ATXI reached agreements in principle with a cooperative electric company in northeast Missouri and with Ameren Missouri to locate the majority of the Mark Twain project on existing transmission line corridors, resulting in a proposed alternative project route. ATXI is in the process of finalizing the proposed alternative project route and plans to request assents for road crossings from the five affected counties in the third quarter of 2017. If all five county commissions provide assents for the proposed alternative project route, ATXI will then seek MoPSC approval. ATXI plans to complete the project in late 2019; however, delays in obtaining the assents and approval from the MoPSC could delay completion. Illinois IEIMA & FEJA Under Illinois law, Ameren Illinois’ electric distribution service rates are subject to an annual revenue requirement reconciliation to its actual recoverable costs and allowed return on equity. This revenue requirement reconciliation qualifies as an alternative revenue program under GAAP. Each year, Ameren Illinois records a regulatory asset or a regulatory liability and a corresponding increase or decrease to operating revenues for any differences between the revenue requirement reflected in customer rates for that year and its estimate of the probable increase or decrease in the revenue requirement expected to ultimately be approved by the ICC based on that year's actual recoverable costs incurred and investment return. As of June 30, 2017 , Ameren Illinois had recorded regulatory assets of $24 million to reflect its 2016 revenue requirement reconciliation adjustment, which was included in the April 2017 formula rate update discussed below, and $40 million for the approved 2015 revenue requirement reconciliation adjustment, each with interest. As of June 30, 2017 , Ameren Illinois had recorded a regulatory asset of $76 million to reflect the difference between Ameren Illinois’ estimate of its 2017 revenue requirement and the revenue requirement reflected in customer rates, including interest. In April 2017, Ameren Illinois filed with the ICC its annual electric distribution service formula rate update to establish the revenue requirement used for 2018 rates. In June 2017, the ICC staff submitted its calculation of the revenue requirement, which Ameren Illinois supported in its revised July 2017 filing, and recommended a decrease to the electric distribution service revenue requirement. Pending ICC approval, this update filing will result in a $17 million decrease in Ameren Illinois’ electric distribution service revenue requirement beginning in January 2018. This update reflects an increase to the annual formula rate based on 2016 actual costs and expected net plant additions for 2017, as well as an increase to include the 2016 revenue requirement reconciliation adjustment. The increases in the update filing are more than offset by a decrease for the conclusion of the 2015 revenue requirement reconciliation adjustment, which will be fully collected from customers in 2017 , consistent with the ICC’s December 2016 annual update filing order. An ICC decision regarding the revenue requirement to be used for customer rates in 2018 is expected by December 2017. The FEJA revised certain portions of the IEIMA, including extending the IEIMA formula ratemaking process through 2022 and clarifying that a common equity ratio of up to, and including, 50% is prudent. Beginning in 2017, the FEJA provides that Ameren Illinois will recover, within the following two years, its electric distribution revenue requirement for a given year, independent of actual sales volumes. Prior to the FEJA, Ameren Illinois’ interim period revenue recognition was volume-based, as revenues were affected by the timing of sales volumes due to seasonal rates and changes in volumes resulting from, among other things, weather and energy efficiency. This previous revenue recognition method resulted in more revenues during the third quarter and less revenues during the other quarters of each year. Beginning in 2017, in connection with the decoupling provisions of the FEJA, Ameren Illinois changed its method used to recognize interim period revenue. Ameren Illinois now recognizes revenue consistent with the timing of actual incurred electric distribution recoverable costs and recognizes revenue associated with the expected return on its rate base ratably over the year. Ameren Illinois recognized $75 million and $13 million of electric distribution revenue to reflect the difference between the estimate of its revenue requirement and the revenue requirement reflected in customer rates for the six months ended June 30, 2017 and 2016, respectively. Federal FERC Complaint Cases In November 2013, a customer group filed a complaint case with the FERC seeking a reduction in the allowed base return on common equity for FERC-regulated transmission rate base under the MISO tariff from 12.38% to 9.15% . In September 2016, the FERC issued a final order in the November 2013 complaint case, which lowered the allowed base return on common equity for the 15-month period of November 2013 to February 2015 to 10.32%, or a 10.82% total allowed return on common equity with the inclusion of a 50 basis point incentive adder for participation in an RTO. The order required customer refunds, with interest, to be issued for that 15-month period. During the first six months of 2017, Ameren and Ameren Illinois refunded $21 million and $17 million , respectively, related to the November 2013 complaint case. In addition, the 10.82% allowed return on common equity has been reflected in rates since September 2016. The 10.82% allowed return on common equity will likely be replaced prospectively after the FERC issues a final order in the February 2015 complaint case, discussed below. As the maximum FERC-allowed refund period for the November 2013 complaint case ended in February 2015, another customer complaint case was filed in February 2015. The February 2015 complaint case seeks a further reduction in the allowed base return on common equity for FERC-regulated transmission rate base under the MISO tariff. In June 2016, an administrative law judge issued an initial decision in the February 2015 complaint case, which, if approved by the FERC, would lower the allowed base return on common equity for the 15-month period of February 2015 to May 2016 to 9.70% , or a 10.20% total allowed return on equity with the inclusion of a 50 basis point incentive adder for participation in an RTO and require customer refunds, with interest, for that 15-month period. The timing of the issuance of the final order in the February 2015 complaint case is uncertain for two reasons. First, while the FERC reestablished a quorum of three commissioners in August 2017, they are under no deadline to issue a final order. Second, in the second quarter of 2017, the United States Court of Appeals for the District of Columbia Circuit vacated and remanded to the FERC an order in a separate case in which the FERC established the allowed base return on common equity methodology used in the two MISO complaint cases described above. Ameren is unable to predict the impact of the outcome of the United States Court of Appeals for the District of Columbia Circuit’s remand on the MISO FERC complaint cases at this time. As of June 30, 2017 , Ameren and Ameren Illinois had recorded current regulatory liabilities of $41 million and $24 million , respectively, to reflect the expected refunds, including interest, associated with the reduced allowed returns on common equity in the initial decision in the February 2015 complaint case. Ameren Missouri does not expect that a reduction in the FERC-allowed base return on common equity would be material to its results of operations, financial position, or liquidity. |
Short-Term Debt And Liquidity
Short-Term Debt And Liquidity | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
SHORT-TERM DEBT AND LIQUIDITY | SHORT-TERM DEBT AND LIQUIDITY The liquidity needs of the Ameren Companies are typically supported through the use of available cash, drawings under committed credit agreements, commercial paper issuances, or, in the case of Ameren Missouri and Ameren Illinois, short-term intercompany borrowings. See Note 4 – Short-term Debt and Liquidity under Part II, Item 8, in the Form 10-K for a description of our indebtedness provisions and other covenants as well as a description of money pool arrangements. The Missouri Credit Agreement and the Illinois Credit Agreement, both of which expire in December 2021, were not utilized for direct borrowings during the six months ended June 30, 2017 , but were used to support commercial paper issuances and to issue letters of credit. Based on commercial paper outstanding, as well as letters of credit issued under the Credit Agreements, the aggregate amount of credit capacity available under the Credit Agreements to Ameren (parent), Ameren Missouri, and Ameren Illinois, collectively, at June 30, 2017 , was $1.2 billion . The Ameren Companies were in compliance with the covenants in their credit agreements as of June 30, 2017. As of June 30, 2017 , the ratios of consolidated indebtedness to consolidated total capitalization, calculated in accordance with the provisions of the Credit Agreements, were 53% , 48% , and 47% for Ameren, Ameren Missouri, and Ameren Illinois, respectively. Commercial Paper The following table presents commercial paper outstanding as of June 30, 2017 , and December 31, 2016 : 2017 2016 Ameren (parent) $ 673 $ 507 Ameren Missouri 60 — Ameren Illinois 159 51 Ameren Consolidated $ 892 $ 558 The following table summarizes the borrowing activity and relevant interest rates under Ameren’s (parent), Ameren Missouri’s, and Ameren Illinois’ commercial paper programs for the six months ended June 30, 2017 and 2016: Ameren (parent) Ameren Missouri Ameren Illinois Ameren Consolidated 2017 Average daily commercial paper outstanding $ 736 $ 6 $ 66 $ 808 Weighted-average interest rate 1.19 % 1.10 % 1.14 % 1.19 % Peak commercial paper during period (a) $ 841 $ 60 $ 163 $ 948 Peak interest rate 1.50 % 1.41 % 1.50 % 1.50 % 2016 Average daily commercial paper outstanding $ 402 $ 117 $ 12 $ 531 Weighted-average interest rate 0.82 % 0.74 % 0.79 % 0.80 % Peak commercial paper during period (a) $ 549 $ 208 $ 177 $ 839 Peak interest rate 0.95 % 0.85 % 0.85 % 0.95 % (a) The timing of peak commercial paper issuances varies by company. Therefore, the sum of peak commercial paper issuances presented by company does not equal the Ameren Consolidated peak commercial paper issuances for the period. Money Pools Ameren has money pool agreements with and among its subsidiaries to coordinate and provide for certain short-term cash and working capital requirements. The average interest rate for borrowing under the utility money pool for the three and six months ended June 30, 2017 , was 1.27% and 1.14% , respectively (2016 – 0.60% and 0.54% , respectively). See Note 8 – Related Party Transactions for the amount of interest income and expense from the money pool arrangements recorded by the Ameren Companies for the three and six months ended June 30, 2017 and 2016 . |
Long-Term Debt And Equity Finan
Long-Term Debt And Equity Financings | 6 Months Ended |
Jun. 30, 2017 | |
Long-Term Debt And Equity Financings [Abstract] | |
LONG-TERM DEBT AND EQUITY FINANCINGS | LONG-TERM DEBT AND EQUITY FINANCINGS Ameren Missouri In June 2017, Ameren Missouri issued $400 million principal amount of 2.95% senior secured notes due June 2027, with interest payable semiannually on June 15 and December 15 of each year, beginning December 15, 2017. Ameren Missouri received proceeds of $396 million , which were used, in conjunction with other available funds, to repay at maturity in June 2017 $425 million principal amount of Ameren Missouri’s 6.40% senior secured notes. ATXI In June 2017, pursuant to a note purchase agreement, ATXI agreed to issue $450 million principal amount of 3.43% senior unsecured notes due 2050 through a private placement offering exempt from registration under the Securities Act of 1933, as amended. ATXI issued $150 million principal amount of the notes in June 2017 and has agreed to issue the remaining $300 million principal amount of the notes in August 2017, subject to certain conditions. The proceeds of the notes, of which $149 million were received in June 2017, were, and will be used, by ATXI to repay existing short-term and long-term affiliate debt owed to Ameren (parent). ATXI may prepay at any time not less than 5% of the principal amount of notes then outstanding at 100% of the principal amount plus a make-whole premium. In the event of a change of control, as defined in the agreement, each holder of notes may require ATXI to prepay the entire unpaid principal amount of the notes held by such holder at a price equal to 100% of the principal amount of such notes together with accrued and unpaid interest thereon, but without a premium. The following table presents the principal maturities schedule for the notes (assuming the issuance of $450 million principal amount of notes): Payment Date Principal Payment August 2022 $ 49.5 August 2024 49.5 August 2027 49.5 August 2030 49.5 August 2032 49.5 August 2038 49.5 August 2043 76.5 August 2050 76.5 Total Principal Amount of Notes $ 450.0 The note purchase agreement includes financial covenants that require ATXI to not permit at any time: (i) debt to exceed 70% of total capitalization or (ii) secured debt to exceed 10% of total assets. The note purchase agreement also contains restrictive covenants that, among other things, restrict the ability of ATXI to: (i) enter into transactions with affiliates; (ii) consolidate, merge, transfer or lease all or substantially all of its assets; and (iii) create liens. Indenture Provisions and Other Covenants Ameren Missouri’s and Ameren Illinois’ indentures and articles of incorporation include covenants and provisions related to issuances of first mortgage bonds and preferred stock. Ameren Missouri and Ameren Illinois are required to meet certain ratios to issue additional first mortgage bonds and preferred stock. A failure to achieve these ratios would not result in a default under these covenants and provisions, but would restrict the companies’ ability to issue first mortgage bonds or preferred stock. See Note 5 – Long-Term Debt and Equity Financings under Part II, Item 8, in the Form 10-K for a description of our indenture provisions and other covenants as well as restrictions on the payment of dividends. See the discussion above for covenants related to ATXI’s note purchase agreement. At June 30, 2017 , the Ameren Companies were in compliance with the provisions and covenants contained in their indentures and articles of incorporation, as applicable, and ATXI was in compliance with the provisions and covenants contained in its note purchase agreement. Off-Balance-Sheet Arrangements At June 30, 2017 , none of the Ameren Companies had off-balance-sheet financing arrangements, other than operating leases entered into in the ordinary course of business, letters of credit, and Ameren parent guarantee arrangements on behalf of its subsidiaries. None of the Ameren Companies expect to engage in any significant off-balance-sheet financing arrangements in the near future. |
Other Income and Expenses
Other Income and Expenses | 6 Months Ended |
Jun. 30, 2017 | |
Other Nonoperating Income (Expense) [Abstract] | |
OTHER INCOME AND EXPENSES | OTHER INCOME AND EXPENSES The following table presents the components of “Other Income and Expenses” in the Ameren Companies’ statements of income for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months 2017 2016 2017 2016 Ameren: (a) Miscellaneous income: Allowance for equity funds used during construction $ 4 $ 5 $ 10 $ 13 Interest income on industrial development revenue bonds 6 6 13 13 Interest income 3 4 5 8 Other 1 1 1 2 Total miscellaneous income $ 14 $ 16 $ 29 $ 36 Miscellaneous expense: Donations $ 2 $ 2 $ 7 $ 7 Other 3 4 7 6 Total miscellaneous expense $ 5 $ 6 $ 14 $ 13 Ameren Missouri: Miscellaneous income: Allowance for equity funds used during construction $ 4 $ 3 $ 9 $ 10 Interest income on industrial development revenue bonds 6 6 13 13 Other 1 — 1 1 Total miscellaneous income $ 11 $ 9 $ 23 $ 24 Three Months Six Months 2017 2016 2017 2016 Miscellaneous expense: Donations $ 2 $ 1 $ 2 $ 2 Other — 1 2 2 Total miscellaneous expense $ 2 $ 2 $ 4 $ 4 Ameren Illinois: Miscellaneous income: Allowance for equity funds used during construction $ — $ 2 $ 1 $ 3 Interest income 2 3 4 7 Other 1 1 1 1 Total miscellaneous income $ 3 $ 6 $ 6 $ 11 Miscellaneous expense: Donations $ 1 $ 1 $ 5 $ 5 Other 1 2 3 3 Total miscellaneous expense $ 2 $ 3 $ 8 $ 8 (a) Includes amounts for Ameren registrant and nonregistrant subsidiaries and intercompany eliminations. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 6 – DERIVATIVE FINANCIAL INSTRUMENTS We use derivatives to manage the risk of changes in market prices for natural gas, power, and uranium, as well as the risk of changes in rail transportation surcharges through fuel oil hedges. Such price fluctuations may cause the following: • an unrealized appreciation or depreciation of our contracted commitments to purchase or sell when purchase or sale prices under the commitments are compared with current commodity prices; • market values of natural gas and uranium inventories that differ from the cost of those commodities in inventory; and • actual cash outlays for the purchase of these commodities that differ from anticipated cash outlays. The derivatives that we use to hedge these risks are governed by our risk management policies for forward contracts, futures, options, and swaps. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The goal of the hedging program is generally to mitigate financial risks while ensuring that sufficient volumes are available to meet our requirements. Contracts we enter into as part of our risk management program may be settled financially, settled by physical delivery, or net settled with the counterparty. The following table presents open gross commodity contract volumes by commodity type for derivative assets and liabilities as of June 30, 2017 , and December 31, 2016 . As of June 30, 2017 , these contracts extended through October 2019, March 2023, May 2032, and March 2020 for fuel oils, natural gas, power, and uranium, respectively. Quantity (in millions, except as indicated) 2017 2016 Commodity Ameren Missouri Ameren Illinois Ameren Ameren Missouri Ameren Illinois Ameren Fuel oils (in gallons) (a) 35 (b) 35 30 (b) 30 Natural gas (in mmbtu) 26 147 173 25 129 154 Power (in megawatthours) 1 9 10 1 9 10 Uranium (pounds in thousands) 445 (b) 445 345 (b) 345 (a) Consists of ultra-low-sulfur diesel products. (b) Not applicable. All contracts considered to be derivative instruments are required to be recorded on the balance sheet at their fair values, unless the NPNS exception applies. See Note 7 – Fair Value Measurements for a discussion of our methods of assessing the fair value of derivative instruments. Many of our physical contracts, such as our purchased power contracts, qualify for the NPNS exception to derivative accounting rules. The revenue or expense on NPNS contracts is recognized at the contract price upon physical delivery. If we determine that a contract meets the definition of a derivative and is not eligible for the NPNS exception, we review the contract to determine whether the resulting gains or losses qualify for regulatory deferral. Derivative contracts that qualify for regulatory deferral are recorded at fair value, with changes in fair value recorded as regulatory assets or liabilities in the period in which the change occurs. We believe derivative losses and gains deferred as regulatory assets and liabilities are probable of recovery, or refund, through future rates charged to customers. Regulatory assets and liabilities are amortized to operating income as related losses and gains are reflected in rates charged to customers. Therefore, gains and losses on these derivatives have no effect on operating income. As of June 30, 2017 , and December 31, 2016 , all contracts that met the definition of a derivative and were not eligible for the NPNS exception received regulatory deferral. The following table presents the carrying value and balance sheet location of all derivative commodity contracts, none of which were designated as hedging instruments, as of June 30, 2017 , and December 31, 2016 : Balance Sheet Location Ameren Missouri Ameren Illinois Ameren 2017 Fuel oils Other current assets $ 1 $ — $ 1 Natural gas Other current assets — 1 1 Other assets — 1 1 Power Other current assets 14 — 14 Other assets 1 — 1 Total assets (a) $ 16 $ 2 $ 18 Fuel oils Other current liabilities $ 5 $ — $ 5 Other deferred credits and liabilities 1 — 1 Natural gas Other current liabilities 2 9 11 Other deferred credits and liabilities 5 6 11 Power Other current liabilities 1 13 14 Other deferred credits and liabilities — 179 179 Uranium Other deferred credits and liabilities — (b) — — (b) Total liabilities (c) $ 14 $ 207 $ 221 2016 Fuel oils Other current assets $ 2 $ — $ 2 Other assets 1 — 1 Natural gas Other current assets 1 11 12 Other assets 1 2 3 Power Other current assets 9 — 9 Total assets (a) $ 14 $ 13 $ 27 Fuel oils Other current liabilities $ 5 $ — $ 5 Natural gas Other current liabilities 1 3 4 Other deferred credits and liabilities 5 5 10 Power Other current liabilities 3 12 15 Other deferred credits and liabilities — 173 173 Uranium Other deferred credits and liabilities 4 — 4 Total liabilities (c) $ 18 $ 193 $ 211 (a) The cumulative amount of pretax net gains on all derivative instruments is deferred as a regulatory liability. (b) Beginning in 2017, as a result of rulebook amendments at the Chicago Mercantile Exchange, the fair value of uranium derivative liabilities are offset by certain settlement payments made to the exchange previously characterized as collateral and included within “Other assets” on Ameren’s and Ameren Missouri’s balance sheet. (c) The cumulative amount of pretax net losses on all derivative instruments is deferred as a regulatory asset. Derivative instruments are subject to various credit-related losses in the event of nonperformance by counterparties to the transaction. Exchange-traded contracts are supported by the financial and credit quality of the clearing members of the respective exchanges; these contracts have nominal credit risk. In all other transactions, we are exposed to credit risk. Our credit risk management program involves establishing credit limits and collateral requirements for counterparties, using master netting arrangements or similar agreements, and reporting daily exposure to senior management. We believe that entering into master netting arrangements or similar agreements mitigates the level of financial loss that could result from default by allowing net settlement of derivative assets and liabilities. These master netting arrangements allow the counterparties to net settle sale and purchase transactions. Further, collateral requirements are calculated at the master netting arrangement or similar agreement level by counterparty. The Ameren Companies elect to present the fair value amounts of derivative assets and derivative liabilities subject to an enforceable master netting arrangement or similar agreement gross on the balance sheet. However, if the gross amounts recognized on the balance sheet were netted with derivative instruments and cash collateral received or posted, the net amounts would not be materially different from the gross amounts at June 30, 2017 , and December 31, 2016 . Concentrations of Credit Risk In determining our concentrations of credit risk related to derivative instruments, we review our individual counterparties and categorize each counterparty into groupings according to the primary business in which each engages. We calculate maximum exposures based on the gross fair value of financial instruments, including NPNS and other accrual contracts. These exposures are calculated on a gross basis, which include affiliate exposure not eliminated at the consolidated Ameren level. As of June 30, 2017 , if counterparty groups were to fail completely to perform on contracts, the Ameren Companies’ maximum exposure would have been immaterial with or without consideration of the application of master netting arrangements or similar agreements and collateral held. Derivative Instruments with Credit Risk-Related Contingent Features Our commodity contracts contain collateral provisions tied to the Ameren Companies’ credit ratings. If our credit ratings were downgraded, or if a counterparty with reasonable grounds for uncertainty regarding our ability to satisfy an obligation requested adequate assurance of performance, additional collateral postings might be required. The following table presents, as of June 30, 2017 , the aggregate fair value of all derivative instruments with credit risk-related contingent features in a gross liability position, the cash collateral posted, and the aggregate amount of additional collateral that counterparties could require. The additional collateral required is the net liability position allowed under the master netting arrangements or similar agreements, assuming (1) the credit risk-related contingent features underlying these arrangements were triggered on June 30, 2017 , and (2) those counterparties with rights to do so requested collateral. Aggregate Fair Value of Derivative Liabilities (a) Cash Collateral Posted Potential Aggregate Amount of Additional Collateral Required (b) 2017 Ameren Missouri $ 65 $ 3 $ 59 Ameren Illinois 43 — 37 Ameren $ 108 $ 3 $ 96 (a) Before consideration of master netting arrangements or similar agreements and including NPNS and other accrual contract exposures. (b) As collateral requirements with certain counterparties are based on master netting arrangements or similar agreements, the aggregate amount of additional collateral required to be posted is determined after consideration of the effects of such arrangements. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use various methods to determine fair value, including market, income, and cost approaches. With these approaches, we adopt certain assumptions that market participants would use in pricing the asset or liability, including assumptions about market risk or the risks inherent in the inputs to the valuation. Inputs to valuation can be readily observable, market-corroborated, or unobservable. We use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Authoritative accounting guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. All financial assets and liabilities carried at fair value are classified and disclosed in one of three hierarchy levels. See Note 8 – Fair Value Measurements under Part II, Item 8, of the Form 10-K for information related to hierarchy levels. We perform an analysis each quarter to determine the appropriate hierarchy level of the assets and liabilities subject to fair value measurements. Financial assets and liabilities are classified in their entirety according to the lowest level of input that is significant to the fair value measurement. All assets and liabilities whose fair value measurement is based on significant unobservable inputs are classified as Level 3. The following table describes the valuation techniques and unobservable inputs utilized by the Ameren Companies for the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the periods ended June 30, 2017 and December 31, 2016 : Fair Value Weighted Average Assets Liabilities Valuation Technique(s) Unobservable Input Range Level 3 Derivative asset and liability – commodity contracts (a) : 2017 Fuel oils $ 1 $ (2 ) Option model Volatilities(%) (b) 26 – 36 27 Discounted cash flow Counterparty credit risk(%) (c)(d) 0.22 (e) Ameren Missouri credit risk(%) (c)(d) 0.37 (e) Escalation rate (%) (b)(f) 0 – 1 0 Natural gas — (2 ) Discounted cash flow Nodal basis ($/mmbtu) (b) (0.80) – (0.10) (0.70) Counterparty credit risk (%) (c)(d) 0.45 – 6 0.82 Ameren Illinois credit risk (%) (c)(d) 0.37 (e) Fair Value Weighted Average Assets Liabilities Valuation Technique(s) Unobservable Input Range Power (g) $ 15 $ (193 ) Discounted cash flow Average forward peak and off-peak pricing – forwards/swaps ($/MWh) (h) 25 – 42 29 Estimated auction price for FTRs ($/MW) (b) (730) – 1,398 284 Nodal basis ($/MWh) (h) (3) – 0 (2) Ameren Illinois credit risk (%) (c)(d) 0.37 (e) Fundamental energy production model Estimated future natural gas prices ($/mmbtu) (b) 3 – 4 3 Escalation rate (%) (b)(i) 3 (e) Contract price allocation Estimated renewable energy credit costs ($/credit) (b) 5 – 7 6 2016 Fuel oils $ 1 $ — Option model Volatilities (%) (b) 24 – 66 28 Discounted cash flow Counterparty credit risk (%) (c)(d) 0.13 – 0.22 0.15 Ameren Missouri credit risk (%) (c)(d) 0.38 (e) Escalation rate (%) (b)(f) (2) – 2 0 Natural gas 1 (1 ) Option model Volatilities (%) (b) 31 – 66 36 Nodal basis ($/mmbtu) (b) (0.40) – (0.10) (0.20) Discounted cash flow Nodal basis ($/mmbtu) (b) (0.80) – 0 (0.50) Counterparty credit risk (%) (c)(d) 0.13 – 8 1 Ameren Illinois credit risk (%) (c)(d) 0.38 (e) Power (g) 9 (187 ) Discounted cash flow Average forward peak and off-peak pricing – forwards/swaps ($/MWh) (h) 26 – 44 29 Estimated auction price for FTRs ($/MW) (b) (71) – 5,270 125 Nodal basis ($/MWh) (h) (6) – 0 (2) Ameren Illinois credit risk (%) (c)(d) 0.38 (e) Fundamental energy production model Estimated future natural gas prices ($/mmbtu) (b) 3 – 4 3 Escalation rate (%) (b)(i) 5 (e) Contract price allocation Estimated renewable energy credit costs ($/credit) (b) 5 – 7 6 Uranium — (4 ) Option model Volatilities (%) (b) 24 (e) Discounted cash flow Average forward uranium pricing ($/pound) (b) 22 – 24 22 Ameren Missouri credit risk (%) (c)(d) 0.38 (e) (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Generally, significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. (c) Generally, significant increases (decreases) in this input in isolation would result in a significantly lower (higher) fair value measurement. (d) Counterparty credit risk is applied only to counterparties with derivative asset balances. Ameren Missouri and Ameren Illinois credit risk is applied only to counterparties with derivative liability balances. (e) Not applicable. (f) Escalation rate applies to fuel oil prices 2019 and beyond. (g) Power valuations use visible third-party pricing evaluated by month for peak and off-peak demand through 2021 for June 30, 2017 and through 2020 for December 31, 2016. Valuations beyond 2021 for June 30, 2017 and 2020 for December 31, 2016 use fundamentally modeled pricing by month for peak and off-peak demand. (h) The balance at Ameren is comprised of Ameren Missouri and Ameren Illinois power contracts, which respond differently to unobservable input changes due to their opposing positions. (i) Escalation rate applies to power prices in 2031 and beyond. We consider nonperformance risk in our valuation of derivative instruments by analyzing the credit standing of our counterparties and considering any counterparty credit enhancements (e.g., collateral). The guidance also requires that the fair value measurement of liabilities reflect the nonperformance risk of the reporting entity, as applicable. Therefore, we have factored the impact of our credit standing, as well as any potential credit enhancements, into the fair value measurement of both derivative assets and derivative liabilities. Included in our valuation, and based on current market conditions, is a valuation adjustment for counterparty default derived from market data such as the price of credit default swaps, bond yields, and credit ratings. No gains or losses related to valuation adjustments for counterparty default risk were recorded at Ameren, Ameren Missouri, or Ameren Illinois in the three and six months ended June 30, 2017 or 2016 . At June 30, 2017 , and December 31, 2016 , the counterparty default risk valuation adjustment related to derivative contracts was immaterial for Ameren, Ameren Missouri, and Ameren Illinois. The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 : Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets: Ameren Derivative assets – commodity contracts (a) : Fuel oils $ — $ — $ 1 $ 1 Natural gas 1 1 — 2 Power — — 15 15 Total derivative assets – commodity contracts $ 1 $ 1 $ 16 $ 18 Nuclear decommissioning trust fund: Cash and cash equivalents $ 2 $ — $ — $ 2 Equity securities: U.S. large capitalization 426 — — 426 Debt securities: U.S. treasury and agency securities — 115 — 115 Corporate bonds — 83 — 83 Other — 23 — 23 Total nuclear decommissioning trust fund $ 428 $ 221 $ — $ 649 (b) Total Ameren $ 429 $ 222 $ 16 $ 667 Ameren Missouri Derivative assets – commodity contracts (a) : Fuel oils $ — $ — $ 1 $ 1 Power — — 15 15 Total derivative assets – commodity contracts $ — $ — $ 16 $ 16 Nuclear decommissioning trust fund: Cash and cash equivalents $ 2 $ — $ — $ 2 Equity securities: U.S. large capitalization 426 — — 426 Debt securities: U.S. treasury and agency securities — 115 — 115 Corporate bonds — 83 — 83 Other — 23 — 23 Total nuclear decommissioning trust fund $ 428 $ 221 $ — $ 649 (b) Total Ameren Missouri $ 428 $ 221 $ 16 $ 665 Ameren Illinois Derivative assets – commodity contracts (a) : Natural gas $ 1 $ 1 $ — $ 2 Liabilities: Ameren Derivative liabilities – commodity contracts (a) : Fuel oils $ 4 $ — $ 2 $ 6 Natural gas — 20 2 22 Power — — 193 193 Total Ameren $ 4 $ 20 $ 197 $ 221 Ameren Missouri Derivative liabilities – commodity contracts (a) : Fuel oils $ 4 $ — $ 2 $ 6 Natural gas — 7 — 7 Power — — 1 1 Total Ameren Missouri $ 4 $ 7 $ 3 $ 14 Ameren Illinois Derivative liabilities – commodity contracts (a) : Natural gas $ — $ 13 $ 2 $ 15 Power — — 192 192 Total Ameren Illinois $ — $ 13 $ 194 $ 207 (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Balance excludes $ 2 million of receivables, payables, and accrued income, net. The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 : Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets: Ameren Derivative assets – commodity contracts (a) : Fuel oils $ 2 $ — $ 1 $ 3 Natural gas 2 12 1 15 Power — — 9 9 Total derivative assets – commodity contracts $ 4 $ 12 $ 11 $ 27 Nuclear decommissioning trust fund: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. large capitalization 408 — — 408 Debt securities: U.S. treasury and agency securities — 112 — 112 Corporate bonds — 67 — 67 Other — 17 — 17 Total nuclear decommissioning trust fund $ 409 $ 196 $ — $ 605 (b) Total Ameren $ 413 $ 208 $ 11 $ 632 Ameren Missouri Derivative assets – commodity contracts (a) : Fuel oils $ 2 $ — $ 1 $ 3 Natural gas — 1 1 2 Power — — 9 9 Total derivative assets – commodity contracts $ 2 $ 1 $ 11 $ 14 Nuclear decommissioning trust fund: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. large capitalization 408 — — 408 Debt securities: U.S. treasury and agency securities — 112 — 112 Corporate bonds — 67 — 67 Other — 17 — 17 Total nuclear decommissioning trust fund $ 409 $ 196 $ — $ 605 (b) Total Ameren Missouri $ 411 $ 197 $ 11 $ 619 Ameren Illinois Derivative assets – commodity contracts (a) : Natural gas $ 2 $ 11 $ — $ 13 Liabilities: Ameren Derivative liabilities – commodity contracts (a) : Fuel oils $ 5 $ — $ — $ 5 Natural gas — 13 1 14 Power — 1 187 188 Uranium — — 4 4 Total Ameren $ 5 $ 14 $ 192 $ 211 Ameren Missouri Derivative liabilities – commodity contracts (a) : Fuel oils $ 5 $ — $ — $ 5 Natural gas — 6 — 6 Power — 1 2 3 Uranium — — 4 4 Total Ameren Missouri $ 5 $ 7 $ 6 $ 18 Ameren Illinois Derivative liabilities – commodity contracts (a) : Natural gas $ — $ 7 $ 1 $ 8 Power — — 185 185 Total Ameren Illinois $ — $ 7 $ 186 $ 193 (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Balance excludes $2 million of receivables, payables, and accrued income, net. All costs related to financial assets and liabilities classified as Level 3 in the fair value hierarchy are expected to be recoverable through customer rates; therefore, there is no impact to net income resulting from changes in the fair value of these instruments. For the three and six months ended June 30, 2017 and 2016, the balances and changes in the fair value of Level 3 financial assets and liabilities associated with fuel oils, natural gas, and uranium were immaterial. The following table summarizes the changes in the fair value of power financial assets and liabilities classified as Level 3 in the fair value hierarchy: Net derivative commodity contracts Ameren Missouri Ameren Illinois Ameren For the three months ended June 30, 2017 Beginning balance at April 1, 2017 $ 4 $ (194 ) $ (190 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) (1 ) (2 ) Purchases 15 — 15 Settlements (4 ) 3 (1 ) Ending balance at June 30, 2017 $ 14 $ (192 ) $ (178 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2017 $ — $ (2 ) $ (2 ) For the three months ended June 30, 2016 Beginning balance at April 1, 2016 $ 6 $ (187 ) $ (181 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) 14 13 Purchases 13 — 13 Settlements (4 ) 4 — Ending balance at June 30, 2016 $ 14 $ (169 ) $ (155 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2016 $ — $ 14 $ 14 For the six months ended June 30, 2017 Beginning balance at January 1, 2017 $ 7 $ (185 ) $ (178 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) (11 ) (12 ) Purchases 15 — 15 Settlements (7 ) 4 (3 ) Ending balance at June 30, 2017 $ 14 $ (192 ) $ (178 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2017 $ — $ (13 ) $ (13 ) For the six months ended June 30, 2016 Beginning balance at January 1, 2016 $ 16 $ (170 ) $ (154 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (4 ) (7 ) (11 ) Purchases 13 — 13 Settlements (11 ) 8 (3 ) Ending balance at June 30, 2016 $ 14 $ (169 ) $ (155 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2016 $ — $ (5 ) $ (5 ) Transfers into or out of Level 3 represent either (1) existing assets and liabilities that were previously categorized as a higher level, but were recategorized to Level 3 because the inputs to the model became unobservable during the period or (2) existing assets and liabilities that were previously classified as Level 3, but were recategorized to a higher level because the lowest significant input became observable during the period. For the three and six months ended June 30, 2017 and 2016 , there were no material transfers between Level 1 and Level 2, Level 1 and Level 3, or Level 2 and Level 3 related to derivative commodity contracts. The Ameren Companies’ carrying amounts of cash and cash equivalents approximate fair value because of the short-term nature of these instruments. They are considered to be Level 1 in the fair value hierarchy. The Ameren Companies' short-term borrowings also approximate fair value because of their short-term nature. Short-term borrowings are considered to be Level 2 in the fair value hierarchy as they are valued based on market rates for similar market transactions. The estimated fair value of long-term debt and preferred stock is based on the quoted market prices for same or similar issuances for companies with similar credit profiles or on the current rates offered to the Ameren Companies for similar financial instruments, which fair value measurement is considered to be Level 2 in the fair value hierarchy. The following table presents the carrying amounts and estimated fair values of our long-term debt, capital lease obligations and preferred stock at June 30, 2017 , and December 31, 2016 : June 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Ameren: Long-term debt and capital lease obligations (including current portion) $ 7,399 $ 7,942 $ 7,276 $ 7,772 Preferred stock (a) 142 131 142 131 Ameren Missouri: Long-term debt and capital lease obligations (including current portion) $ 3,966 $ 4,310 $ 3,994 $ 4,304 Preferred stock 80 79 80 79 Ameren Illinois: Long-term debt (including current portion) $ 2,589 $ 2,773 $ 2,588 $ 2,765 Preferred stock 62 52 62 52 (a) Preferred stock is recorded in “Noncontrolling Interests” on the consolidated balance sheet. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS In the normal course of business, the Ameren Companies engage in affiliate transactions. These transactions primarily consist of power purchases and sales, services received or rendered, and borrowings and lendings. Transactions between affiliates are reported as intercompany transactions on their financial statements but are eliminated in consolidation for Ameren’s financial statements. For a discussion of our material related party agreements, see Note 14 – Related Party Transactions under Part II, Item 8, of the Form 10-K and the money pool arrangements discussed in Note 3 – Short-term Debt and Liquidity of this report. Electric Power Supply Agreement In April 2017, Ameren Illinois conducted a procurement event, administered by the IPA, to purchase energy products. Ameren Missouri was among the winning suppliers in this event. As a result, in April 2017, Ameren Missouri and Ameren Illinois entered into an energy product agreement by which Ameren Missouri agreed to sell, and Ameren Illinois agreed to purchase, 85,600 megawatthours at an average price of $34 per megawatthour during the period of March 1, 2019, through May 31, 2020. The following table presents the impact on Ameren Missouri and Ameren Illinois of related party transactions for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months Agreement Income Statement Line Item Ameren Missouri Ameren Illinois Ameren Missouri Ameren Illinois Ameren Missouri power supply Operating Revenues 2017 $ 6 $ (a) $ 17 $ (a) agreements with Ameren Illinois 2016 3 (a) 12 (a) Ameren Missouri and Ameren Illinois Operating Revenues 2017 6 1 13 2 rent and facility services 2016 7 1 13 2 Ameren Missouri and Ameren Illinois Operating Revenues 2017 (b) 1 (b) 1 miscellaneous support services 2016 (b) (b) (b) (b) Total Operating Revenues 2017 $ 12 $ 2 $ 30 $ 3 2016 10 1 25 2 Ameren Illinois power supply Purchased Power 2017 $ (a) $ 6 $ (a) $ 17 agreements with Ameren Missouri 2016 (a) 3 (a) 12 Ameren Illinois transmission Purchased Power 2017 (a) 1 (a) 1 services with ATXI 2016 (a) 1 (a) 1 Total Purchased Power 2017 $ (a) $ 7 $ (a) $ 18 2016 (a) 4 (a) 13 Ameren Services support services Other Operations and Maintenance 2017 $ 34 $ 34 $ 69 $ 66 agreement 2016 32 30 66 61 Money pool borrowings (advances) Interest Charges/ Miscellaneous Income 2017 $ (b) $ (b) $ (b) $ (b) 2016 (b) (b) (b) (b) (a) Not applicable. (b) Amount less than $1 million. |
Commitments And Contingencies
Commitments And Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES We are involved in legal, tax, and regulatory proceedings before various courts, regulatory commissions, authorities, and governmental agencies with respect to matters that arise in the ordinary course of business, some of which involve substantial amounts of money. We believe that the final disposition of these proceedings, except as otherwise disclosed in the notes to our financial statements in this report and in our Form 10-K, will not have a material adverse effect on our results of operations, financial position, or liquidity. Reference is made to Note 1 – Summary of Significant Accounting Policies, Note 2 – Rate and Regulatory Matters, Note 14 – Related Party Transactions, and Note 15 – Commitments and Contingencies under Part II, Item 8, of the Form 10-K. See also Note 1 – Summary of Significant Accounting Policies, Note 2 – Rate and Regulatory Matters, Note 4 – Long-term Debt and Equity Financings, Note 8 – Related Party Transactions, and Note 10 – Callaway Energy Center of this report. Other Obligations In order to supply a portion of the fuel requirements of Ameren Missouri’s energy centers, Ameren Missouri has entered into various long-term commitments for the procurement of coal, natural gas, nuclear fuel, and methane gas. Additionally, Ameren Missouri and Ameren Illinois have entered into various long-term commitments for purchased power and natural gas for distribution. At June 30, 2017 , total obligations related to commitments for coal, natural gas, nuclear fuel, purchased power, methane gas, equipment, and meter reading services, among other agreements, at Ameren, Ameren Missouri, and Ameren Illinois were $3,655 million , $2,145 million , and $1,444 million , respectively. For additional information regarding our obligations and commitments at December 31, 2016, see Note 15 – Commitments and Contingencies under Part II, Item 8 of the Form 10-K. In April 2017, Ameren Illinois conducted a procurement event, administered by the IPA, to purchase energy products through May 31, 2020 . In the April 2017 procurement event, Ameren Illinois contracted to purchase 4,249,800 megawatthours of energy products for $128 million from June 1, 2017, through May 31, 2020. See Note 8 – Related Party Transactions for additional information regarding energy product agreements between Ameren Missouri and Ameren Illinois as a result of this procurement event. Environmental Matters We are subject to various environmental laws and regulations enforced by federal, state, and local authorities. The development and operation of electric generation, transmission, and distribution facilities and natural gas storage, transmission, and distribution facilities can trigger compliance obligations with respect to diverse environmental laws and regulations. These laws and regulations address emissions, discharges into water, water usage, impacts to air, land, and water, and chemical and waste handling. Complex and lengthy processes are required to obtain and renew approvals, permits, and licenses for new, existing or modified facilities. Additionally, the use and handling of various chemicals or hazardous materials require release prevention plans and emergency response procedures. The EPA has promulgated environmental regulations that have a significant impact on the electric utility industry. Over time, compliance with these regulations could be costly for Ameren Missouri, which operates coal-fired power plants. As of December 31, 2016, Ameren Missouri’s fossil-fueled energy centers represented 18% and 34% of Ameren’s and Ameren Missouri’s rate base, respectively. Recent regulations impacting air emissions from the electric utility industry include the revised NSPS, the CSAPR, the MATS and the revised National Ambient Air Quality Standards, which are subject to periodic review for certain pollutants. Collectively, these regulations cover a variety of pollutants such as SO 2 , particulate matter, NO X , mercury, toxic metals, and acid gases. Regulation of CO 2 emissions from existing power plants through the Clean Power Plan has been stayed by the United States Supreme Court, and the EPA is re-evaluating the legal and policy basis for the Clean Power Plan. Water intake and discharges from power plants are regulated under the Clean Water Act and potential modifications to water intake structures at Ameren Missouri’s energy centers could result in significant capital expenditures. The management and disposal of coal ash is regulated under the CCR Rule, which will require the closure of surface impoundments and the installations of dry ash handling systems at several of Ameren Missouri’s energy centers resulting in significant capital expenditures. The EPA has initiated an administrative review of several regulations and rulemaking activities, including the Clean Power Plan and the effluent limitation guidelines, which could ultimately result in the revision of all or part of such rules. The individual or combined effects of existing environmental regulations could result in significant capital expenditures and increased operating costs for Ameren and Ameren Missouri. Compliance with existing environmental laws and regulations could be prohibitively expensive, result in the closure or alteration of the operation of some of Ameren Missouri’s energy centers, or require further capital investment. Ameren and Ameren Missouri expect that such compliance costs would be recoverable through rates, subject to MoPSC prudence review, but the timing of costs and their recovery could be subject to regulatory lag. Ameren Missouri's current plan for compliance with existing air emission regulations includes burning ultra-low-sulfur coal and installing new or optimizing existing pollution control equipment. Ameren and Ameren Missouri estimate that they will need to make capital expenditures of $425 million to $525 million in the aggregate from 2017 through 2021 in order to comply with existing environmental regulations. Ameren Missouri may be required to install additional environmental controls beyond 2021. This estimate of capital expenditures includes expenditures required for the CCR regulations, Clean Water Act rules applicable to cooling water intake structures at existing power plants, and effluent limitation guidelines applicable to steam electric generating units, all of which are discussed below. This estimate does not include the potential impacts of the Clean Power Plan discussed below. The actual amount of capital expenditures required to comply with existing environmental regulations may vary substantially from the above estimate because of uncertainty as to whether the EPA will substantively revise regulatory obligations, the precise compliance strategies that will be used and their ultimate cost, among other things. The following sections describe the more significant environmental laws and rules and environmental enforcement and remediation matters that affect or could affect our operations. Clean Air Act Federal and state laws require significant reductions in SO 2 and NO x through either emission source reductions or the use and retirement of emission allowances. The first phase of the CSAPR emission reduction requirements became effective in 2015. The second phase of emission reduction requirements, which were revised by the EPA in 2016, became effective in 2017; additional emission reduction requirements may apply in subsequent years. To achieve compliance with the CSAPR, Ameren Missouri burns ultra-low-sulfur coal, operates two scrubbers at its Sioux energy center, and optimizes other existing pollution control equipment. Ameren Missouri did not make additional capital investments to comply with the 2017 CSAPR requirements. However, Ameren Missouri expects to incur additional costs to lower its emissions at one or more of its energy centers to comply with the CSAPR in future years. These higher costs are expected to be recovered from customers through the FAC or higher base rates. CO 2 Emissions Standards In 2015, the EPA issued the Clean Power Plan, which sets forth CO 2 emissions standards applicable to existing power plants. The rule was stayed by the United States Supreme Court in February 2016, pending the outcome of various legal challenges. In April 2017, the EPA announced that it is reviewing and, if appropriate, will initiate proceedings to suspend, revise, or rescind the Clean Power Plan. The United States Court of Appeals for the District of Columbia Circuit has stayed further action on the litigation that resulted from the Supreme Court’s February 2016 stay of the Clean Power Plan pending the EPA’s administrative review. In its current form, the Clean Power Plan would require significant reductions in CO 2 emissions from power plants by 2030 including interim compliance periods commencing in 2022. The EPA has advised all states to discontinue implementation planning. We cannot predict the outcome of the EPA’s administrative review or outcome of legal challenges, nor the resulting impact on our results of operations, financial position, or liquidity. NSR and Clean Air Litigation In January 2011, the Department of Justice, on behalf of the EPA, filed a complaint against Ameren Missouri in the United States District Court for the Eastern District of Missouri. The complaint, as amended in October 2013, alleged that in performing projects at its Rush Island coal-fired energy center in 2007 and 2010, Ameren Missouri violated provisions of the Clean Air Act and Missouri law. The litigation has been divided into two phases: liability and remedy. In January 2017, the district court issued a liability ruling that the projects violated provisions of the Clean Air Act and Missouri law. The case will now proceed to the second phase to determine the actions required to remedy the violations found in the liability phase of the litigation. The EPA previously withdrew all claims for penalties and fines. No date has been set by the district court for a trial on the remedy phase of the litigation. At the conclusion of both phases of the litigation, Ameren Missouri intends to appeal the liability ruling to the United States Court of Appeals for the Eighth Circuit. The ultimate resolution of this matter could have a material adverse effect on the results of operations, financial position, and liquidity of Ameren and Ameren Missouri. Among other things, and subject to economic and regulatory considerations, resolution of this matter could result in increased capital expenditures for the installation of pollution control equipment, as well as increased operations and maintenance expenses. We are unable to predict the ultimate resolution of this matter or the costs that might be incurred. Clean Water Act In 2014, the EPA issued its final rule applicable to cooling water intake structures at existing power plants. The rule requires a case-by-case evaluation and plan for reducing aquatic organisms impinged on the facility’s intake screens or entrained through the plant's cooling water system. All of Ameren Missouri’s coal-fired and nuclear energy centers are subject to the cooling water intake structures rule. Implementation of the rule will occur during the permit renewal process of each energy center’s water discharge permit, which will occur between 2018 and 2023. Additionally, in 2015, the EPA issued a rule to revise the effluent limitation guidelines applicable to steam electric generating units. These guidelines established national standards for water discharges that are based on the effectiveness of available control technology. The EPA's 2015 rule prohibits effluent discharges of certain waste streams and imposes more stringent limitations on certain water discharges from power plants. In April 2017, the EPA announced that it would review and reconsider the effluent limitation guidelines and administratively stayed all compliance deadlines. Both the intake and effluent rules, if implemented as enacted, could have an adverse effect on Ameren’s and Ameren Missouri’s results of operations, financial position, and liquidity should such implementation require extensive modifications to the cooling water systems and water discharge systems at Ameren Missouri’s energy centers, and if such investments are not recovered on a timely basis in electric rates charged to Ameren Missouri’s customers. Ash Management In 2015, the EPA issued regulations regarding the management and disposal of CCR from coal-fired energy centers. These regulations affect CCR disposal and handling costs at Ameren Missouri's energy centers. They require closure of impoundments if performance criteria relating to groundwater impacts and location restrictions are not achieved. Ameren and Ameren Missouri’s AROs associated with CCR storage facilities reflect the regulations issued in 2015. Ameren plans to close these CCR storage facilities between 2018 and 2024. Ameren Missouri's capital expenditure plan includes the cost of constructing landfills as part of its environmental compliance plan. Remediation The Ameren Companies are involved in a number of remediation actions to clean up sites impacted by the use or disposal of materials containing hazardous substances. Federal and state laws can require responsible parties to fund remediation regardless of their degree of fault, the legality of original disposal, or the ownership of a disposal site. Ameren Missouri and Ameren Illinois have each been identified by federal or state governments as a potentially responsible party at several contaminated sites. As of June 30, 2017 , Ameren Illinois owned or was otherwise responsible for 44 former MGP sites in Illinois, which are in various stages of investigation, evaluation, remediation, and closure. Ameren Illinois estimates it could substantially conclude remediation efforts by 2023. The ICC allows Ameren Illinois to recover remediation and litigation costs associated with its former MGP sites from its electric and natural gas utility customers through environmental adjustment rate riders. Costs are subject to annual review by the ICC. As of June 30, 2017 , Ameren Illinois estimated the obligation related to these former MGP sites at $188 million to $256 million . Ameren and Ameren Illinois recorded a liability of $188 million to represent the estimated minimum obligation for these sites, as no other amount within the range was a better estimate. The scope of the remediation activities at these former MGP sites may increase as remediation efforts continue. Considerable uncertainty remains in these estimates because many site-specific factors can influence the ultimate actual costs, including unanticipated underground structures, the degree to which groundwater is encountered, regulatory changes, local ordinances, and site accessibility. The actual costs and timing of completion may vary substantially from these estimates. Ameren Missouri participated in the investigation of various sites known as Sauget Area 2, located in Sauget, Illinois. In 2000, the EPA notified Ameren Missouri and numerous other companies that former landfills and lagoons at those sites may contain soil and groundwater contamination. From about 1926 until 1976, Ameren Missouri operated an energy center adjacent to Sauget Area 2. Ameren Missouri currently owns a parcel of property at Sauget Area 2 that was once used by others as a landfill. In 2013, the EPA issued its record of decision for Sauget Area 2, approving the investigation and the remediation actions recommended by the potentially responsible parties. Further negotiation among the potentially responsible parties will determine how to fund the implementation of the EPA-approved remedies. As of June 30, 2017 , Ameren Missouri estimated its obligation related to Sauget Area 2 at $1 million to $2.5 million . Ameren Missouri recorded a liability of $1 million to represent its estimated minimum obligation for this site, as no other amount within the range was a better estimate. Our operations or those of our predecessor companies involve the use of, disposal of, and, in appropriate circumstances, the cleanup of substances regulated under environmental laws. We are unable to determine whether such practices will result in future environmental commitments or will affect our results of operations, financial position, or liquidity. Ameren Missouri Municipal Taxes The cities of Creve Coeur and Winchester, Missouri, on behalf of themselves and other municipalities in Ameren Missouri’s service area, filed a class action lawsuit in 2011 against Ameren Missouri in the Circuit Court of St. Louis County, Missouri. The lawsuit alleges that Ameren Missouri failed to pay gross receipts taxes or license fees on certain revenues, including revenues from wholesale power and interchange sales. Ameren and Ameren Missouri recorded immaterial liabilities on their respective balance sheets as of June 30, 2017 , and December 31, 2016, representing their estimate of the probable loss due as a result of this lawsuit. Ameren and Ameren Missouri believe there is a remote possibility that a liability relating to this lawsuit could be material to Ameren's and Ameren Missouri’s results of operations, financial position, and liquidity. Ameren Missouri believes its defenses are meritorious and is defending itself vigorously. However, there can be no assurances that Ameren Missouri will be successful in its efforts. A 2018 trial has been set, and an order is expected later that year. |
Callaway Energy Center
Callaway Energy Center | 6 Months Ended |
Jun. 30, 2017 | |
Nuclear Waste Matters [Abstract] | |
CALLAWAY ENERGY CENTER | CALLAWAY ENERGY CENTER Spent Nuclear Fuel Under the NWPA, the DOE is responsible for disposing of spent nuclear fuel from the Callaway energy center and other commercial nuclear energy centers. The NWPA established the fee that Ameren Missouri and other utilities that own and operate those energy centers pay the federal government for disposing of the spent nuclear fuel at one mill, or one-tenth of one cent, for each kilowatthour generated and sold by those plants. The NWPA also requires the DOE to review the nuclear waste fee annually against the cost of the nuclear waste disposal program and to propose to the United States Congress any fee adjustment necessary to offset the costs of the program. As required by the NWPA, Ameren Missouri and other utilities have entered into standard contracts with the DOE. Consistent with the NWPA and its standard contract, which stated that the DOE would begin to dispose of spent nuclear fuel by 1998, Ameren Missouri had historically collected one mill from its electric customers for each kilowatthour of electricity that it generated and sold from its Callaway energy center. Because the federal government is not meeting its disposal obligation, the collection of this fee was suspended in May 2014. The DOE's delay in carrying out its obligation to dispose of spent nuclear fuel from the Callaway energy center is not expected to adversely affect the continued operations of the energy center. As a result of the DOE's failure to fulfill its contractual obligations, Ameren Missouri and other nuclear energy center owners sued the DOE to recover costs incurred for ongoing storage of their spent fuel. The lawsuit resulted in a settlement agreement that provides for annual reimbursement of additional spent fuel storage and related costs. For the six months ended June 30, 2017 and 2016 , Ameren Missouri did not receive any such reimbursements. Ameren Missouri will continue to apply for reimbursement from the DOE for allowable costs associated with the ongoing storage of spent fuel. Decommissioning Electric utility rates charged to customers provide for the recovery of the Callaway energy center's decommissioning costs, which include decontamination, dismantling, and site restoration costs, over the expected life of the nuclear energy center. Amounts collected from customers are deposited into the external nuclear decommissioning trust fund to provide for the Callaway energy center’s decommissioning. It is assumed that the Callaway energy center site will be decommissioned through the immediate dismantlement method and removed from service. Ameren and Ameren Missouri have recorded an ARO for the Callaway energy center decommissioning costs at fair value, which represents the present value of estimated future cash outflows. Annual decommissioning costs of $7 million are included in the costs used to establish electric rates for Ameren Missouri's customers. Every three years, the MoPSC requires Ameren Missouri to file an updated cost study and funding analysis for decommissioning its Callaway energy center. In April 2016, the MoPSC approved no change in the annual decommissioning costs used to establish electric rates. The fair value of the trust fund for Ameren Missouri's Callaway energy center is reported as "Nuclear decommissioning trust fund" in Ameren's and Ameren Missouri's balance sheets. This amount is legally restricted and may be used only to fund the costs of nuclear decommissioning. Changes in the fair value of the trust fund are recorded as an increase or decrease to the nuclear decommissioning trust fund, with an offsetting adjustment to the related regulatory liability. If the assumed return on trust assets is not earned, Ameren Missouri believes that it is probable that any such earnings deficiency will be recovered in rates. Supplier of Fuel Assemblies The next scheduled refueling and maintenance outage at Ameren Missouri’s Callaway energy center will be in fall 2017. The Callaway energy center uses nuclear fuel assemblies fabricated by Westinghouse. Ameren Missouri has received all necessary fuel assemblies for the fall 2017 refueling and maintenance outage. Westinghouse is currently the only NRC-licensed supplier authorized to provide fuel assemblies to the Callaway energy center. During the first quarter of 2017, Westinghouse filed voluntary petitions for a court-supervised restructuring process under Chapter 11 of the United States Bankruptcy Code. Westinghouse could petition the bankruptcy court to reject Ameren Missouri’s contracts as part of the restructuring process, and if the bankruptcy court agrees, this could result in Ameren Missouri not having access to the fuel assemblies necessary to refuel the Callaway energy center in future scheduled refueling and maintenance outages. At this time, Ameren and Ameren Missouri believe the restructuring proceeding will not affect Westinghouse’s performance under the terms of its existing contracts with Ameren Missouri, and therefore do not expect any material impact to Ameren Missouri’s operations as a result of this restructuring proceeding. However, Ameren and Ameren Missouri could incur material unexpected costs as a result of the Westinghouse bankruptcy, such as the loss of fuel inventory that is stored at Westinghouse’s facility and the cost of replacement power. A change of fuel suppliers or a change in the type of fuel assembly design that is currently licensed for use at the Callaway energy center could take an estimated three years of analysis and NRC licensing efforts to implement. Insurance The following table presents insurance coverage at Ameren Missouri’s Callaway energy center at June 30, 2017 . The property coverage and the nuclear liability coverage renewal dates are April 1 and January 1, respectively, of each year. Both coverages were renewed in 2017. Type and Source of Coverage Maximum Coverages Maximum Assessments for Single Incidents Public liability and nuclear worker liability: American Nuclear Insurers $ 450 $ — Pool participation 12,986 (a) 127 (b) $ 13,436 (c) $ 127 Property damage: NEIL and EMANI $ 3,200 (d) $ 29 (e) Replacement power: NEIL $ 490 (f) $ 7 (e) (a) Provided through mandatory participation in an industrywide retrospective premium assessment program. (b) Retrospective premium under the Price-Anderson Act. This is subject to retrospective assessment with respect to a covered loss in excess of $450 million in the event of an incident at any licensed United States commercial reactor, payable at $19 million per year. (c) Limit of liability for each incident under the Price-Anderson liability provisions of the Atomic Energy Act of 1954, as amended. This limit is subject to change to account for the effects of inflation and changes in the number of licensed reactors. (d) NEIL provides $2.7 billion in property damage, stabilization, decontamination, and premature decommissioning insurance for radiation events and $2.3 billion in property damage for nonradiation events. EMANI provides $490 million for both radiation and nonradiation events. (e) All NEIL insured plants could be subject to assessments should losses exceed the accumulated funds from NEIL. (f) Provides replacement power cost insurance in the event of a prolonged accidental outage. Weekly indemnity up to $4.5 million for 52 weeks, which commences after the first twelve weeks of an outage, plus up to $3.6 million per week for a minimum of 71 weeks thereafter for a total not exceeding the policy limit of $490 million . Nonradiation events are limited to $328 million . The Price-Anderson Act is a federal law that limits the liability for claims from an incident involving any licensed United States commercial nuclear energy center. The limit is based on the number of licensed reactors. The limit of liability and the maximum potential annual payments are adjusted at least every five years for inflation to reflect changes in the Consumer Price Index. The most recent five-year inflationary adjustment became effective in September 2013. Owners of a nuclear reactor cover this exposure through a combination of private insurance and mandatory participation in a financial protection pool, as established by the Price-Anderson Act. Losses resulting from terrorist attacks on nuclear facilities are subject to industrywide aggregates, such that terrorist acts against one or more commercial nuclear power plants insured by NEIL or EMANI within a stated time period would be treated as a single event, and the owners of the nuclear power plants would share one full limit of liability. NEIL policies have an aggregate limit of $3.2 billion within a 12-month period for radiation events, or $1.8 billion for events not involving radiation contamination. The EMANI policies have an aggregate limit of €600 million for radiation and nonradiation events within a period of 72 hours. If losses from a nuclear incident at the Callaway energy center exceed the limits of, or are not covered by insurance, or if coverage is unavailable, Ameren Missouri is at risk for any uninsured losses. If a serious nuclear incident were to occur, it could have a material adverse effect on Ameren’s and Ameren Missouri’s results of operations, financial position, or liquidity. |
Retirement Benefits
Retirement Benefits | 6 Months Ended |
Jun. 30, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
RETIREMENT BENEFITS | RETIREMENT BENEFITS The following table presents the components of the net periodic benefit cost (benefit) incurred for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2017 and 2016 : Pension Benefits Postretirement Benefits Three Months Six Months Three Months Six Months 2017 2016 2017 2016 2017 2016 2017 2016 Service cost $ 23 $ 20 $ 46 $ 40 $ 5 $ 5 $ 10 $ 10 Interest cost 45 45 90 92 11 12 23 24 Expected return on plan assets (65 ) (63 ) (131 ) (126 ) (18 ) (18 ) (37 ) (36 ) Amortization of: Prior service benefit — — — — (1 ) (1 ) (2 ) (2 ) Actuarial loss (gain) 13 7 27 16 (1 ) (2 ) (3 ) (5 ) Net periodic benefit cost (benefit) $ 16 $ 9 $ 32 $ 22 $ (4 ) $ (4 ) $ (9 ) $ (9 ) Ameren Missouri and Ameren Illinois are responsible for their respective shares of Ameren’s pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs (benefit) incurred for the three and six months ended June 30, 2017 and 2016 : Pension Benefits Postretirement Benefits Three Months Six Months Three Months Six Months 2017 2016 2017 2016 2017 2016 2017 2016 Ameren Missouri (a) $ 6 $ 5 $ 12 $ 13 $ (1 ) $ (1 ) $ (2 ) $ (2 ) Ameren Illinois 10 6 20 11 (3 ) (3 ) (7 ) (7 ) Other — (2 ) — (2 ) — — — — Ameren (a)(b) $ 16 $ 9 $ 32 $ 22 $ (4 ) $ (4 ) $ (9 ) $ (9 ) (a) Does not include the impact of the regulatory tracking mechanism for the difference between the level of pension and postretirement benefit costs incurred by Ameren Missouri under GAAP and the level of such costs included in rates. (b) Includes amounts for Ameren registrants and nonregistrant subsidiaries. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | SEGMENT INFORMATION Ameren has four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. The Ameren Missouri segment includes all of the operations of Ameren Missouri. Ameren Illinois Electric Distribution consists of the electric distribution business of Ameren Illinois. Ameren Illinois Natural Gas consists of the natural gas business of Ameren Illinois. Ameren Transmission is primarily composed of the aggregated electric transmission businesses of Ameren Illinois and ATXI. The category called Other primarily includes Ameren parent company activities and Ameren Services. Ameren Missouri has one segment. Ameren Illinois has three segments: Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Illinois Transmission. See Note 1 – Summary of Significant Accounting Policies for additional information regarding the operations of Ameren Missouri, Ameren Illinois, and ATXI. Segment operating revenues and a majority of operating expenses are directly recognized and incurred by Ameren Illinois to each Ameren Illinois segment. Common operating expenses, miscellaneous income and expenses, interest charges, and income tax expense are allocated by Ameren Illinois to each Ameren Illinois segment based on certain factors, which primarily relate to the nature of the cost. Additionally, Ameren Illinois Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. The transmission expense for Illinois customers who have elected to purchase their power from Ameren Illinois is recovered through a cost recovery mechanism with no net effect on Ameren Illinois Electric Distribution earnings, as costs are offset by corresponding revenues. Transmission revenues from these transactions are reflected at Ameren Transmission and Ameren Illinois Transmission. An intersegment elimination at Ameren and Ameren Illinois occurs to eliminate these transmission revenues and expenses. The following tables present revenues, net income attributable to common shareholders, and capital expenditures by segment at Ameren and Ameren Illinois for the three and six months ended June 30, 2017 and 2016 . Ameren, Ameren Missouri, and Ameren Illinois management review segment capital expenditure information rather than any individual or total asset amount. Ameren Three Months Ameren Missouri Ameren Illinois Electric Distribution Ameren Illinois Natural Gas Ameren Transmission Other Intersegment Eliminations Consolidated 2017 External revenues $ 923 $ 387 $ 134 $ 92 $ 2 $ — $ 1,538 Intersegment revenues 12 2 — 13 (a) — (27 ) — Net income attributable to Ameren common shareholders 120 33 5 34 (b) 1 — 193 Capital expenditures 159 122 58 156 1 (2 ) 494 2016 External revenues $ 857 $ 357 $ 131 $ 81 $ 1 $ — $ 1,427 Intersegment revenues 10 1 — 11 (a) — (22 ) — Net income attributable to Ameren common shareholders 92 18 7 32 (b) (2 ) — 147 Capital expenditures 175 119 45 164 1 — 504 Six Months 2017 External revenues $ 1,695 $ 771 $ 398 $ 188 $ — $ — $ 3,052 Intersegment revenues 30 3 — 19 (a) — (52 ) — Net income attributable to Ameren common shareholders 125 63 38 68 (b) 1 — 295 Capital expenditures 355 242 109 290 5 (3 ) 998 2016 External revenues $ 1,583 $ 708 $ 416 $ 153 $ 1 $ — $ 2,861 Intersegment revenues 25 2 — 22 (a) — (49 ) — Net income attributable to Ameren common shareholders 106 29 42 59 (b) 16 — 252 Capital expenditures 353 236 80 328 3 — 1,000 (a) Ameren Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. (b) Ameren Transmission earnings include an allocation of financing costs from Ameren (parent). Ameren Illinois Three Months Ameren Illinois Electric Distribution Ameren Illinois Natural Gas Ameren Illinois Transmission Intersegment Eliminations Consolidated 2017 External revenues $ 389 $ 134 $ 53 $ — $ 576 Intersegment revenues — — 12 (a) (12 ) — Net income available to common shareholder 33 5 19 — 57 Capital expenditures 122 58 77 — 257 2016 External revenues $ 358 $ 131 $ 53 $ — $ 542 Intersegment revenues — — 10 (a) (10 ) — Net income available to common shareholder 18 7 20 — 45 Capital expenditures 119 45 67 — 231 Six Months 2017 External revenues $ 774 $ 398 $ 107 $ — $ 1,279 Intersegment revenues — — 18 (a) (18 ) — Net income available to common shareholder 63 38 35 — 136 Capital expenditures 242 109 133 — 484 2016 External revenues $ 710 $ 416 $ 93 $ — $ 1,219 Intersegment revenues — — 21 (a) (21 ) — Net income available to common shareholder 29 42 33 — 104 Capital expenditures 236 80 126 — 442 (a) Ameren Illinois Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. |
Summary Of Significant Accoun21
Summary Of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Consolidation | Ameren’s financial statements are prepared on a consolidated basis and therefore include the accounts of its majority-owned subsidiaries. All intercompany transactions have been eliminated. Ameren Missouri and Ameren Illinois have no subsidiaries. All tabular dollar amounts are in millions, unless otherwise indicated. Also see the Glossary of Terms and Abbreviations at the front of this report and in the Form 10-K. Our accounting policies conform to GAAP. Our financial statements reflect all adjustments (which include normal, recurring adjustments) that are necessary, in our opinion, for a fair statement of our results. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the dates of financial statements, and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. The results of operations of an interim period may not give a true indication of results that may be expected for a full year. See Note 2 – Rate and Regulatory Matters for information regarding the 2017 change in Ameren Illinois' method used to recognize interim period revenue in connection with the revenue decoupling provisions of the FEJA. These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K. |
Revenue Recognition | The Ameren Companies record operating revenue for electric or natural gas service when it is delivered to customers. We accrue an estimate of electric and natural gas revenues for service rendered but unbilled at the end of each accounting period. For certain regulatory recovery mechanisms qualifying as alternative revenue programs, such as revenue requirement reconciliations, the Ameren Companies recognize revenues that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected from customers within two years from the end of the year. |
Excise Taxes | Ameren Missouri and Ameren Illinois collect certain excise taxes from customers that are levied on the sale or distribution of natural gas and electricity. Excise taxes are levied on Ameren Missouri’s electric and natural gas businesses and on Ameren Illinois’ natural gas business and are recorded gross in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” on the statement of income or the statement of income and comprehensive income. Excise taxes for electric service in Illinois are levied on the customer and therefore are not included in Ameren Illinois’ revenues and expenses. |
Accounting and Reporting Developments | Below is a summary of updates related to our adoption of recently issued authoritative accounting standards. See Note 1 – Summary of Significant Accounting Policies under Part II, Item 8, of the Form 10-K for additional information about recently issued authoritative accounting standards relating to leases, financial instruments, and restricted cash. Revenue from Contracts with Customers In May 2014, the FASB issued authoritative guidance that changes the criteria for recognizing revenue from a contract with a customer. The underlying principle of the guidance is that an entity will recognize revenue for the transfer of promised goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance requires additional disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, as well as separate presentation of alternative revenue programs on the income statement. Entities can apply the guidance to each reporting period presented (the full retrospective method) or by recording a cumulative effect adjustment to retained earnings in the period of initial adoption (the modified retrospective method). We have substantially completed the evaluation of our contracts and do not expect material changes to the amount or timing of revenue recognition. We currently plan to apply the guidance using the full retrospective method and to include disaggregated revenue disclosures by segment and customer class in the combined notes to the financial statements in the first quarter of 2018. We will finalize our contract assessments and our selection of transition method by the end of 2017. Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued authoritative guidance that requires an entity to retrospectively report the service cost component of net benefit cost in the same line item(s) as other compensation costs arising from services rendered by employees during the period and to present the other components of net benefit cost in the income statement separately from the service cost component, and outside of operating income. The guidance also requires that an entity only capitalize the service cost component as part of an asset such as inventory or property, plant, and equipment on a prospective basis. Previously, all of the net benefit cost components were eligible for capitalization. The adoption of this guidance in the first quarter of 2018 may result in the recognition of new regulatory assets or liabilities related to the recovery or return of the non-service cost components of net benefit cost. See Note 11 – Retirement Benefits for the components of net benefit cost. We are currently assessing the impacts of this guidance on our results of operations, financial position, and disclosures. |
Derivative Financial Instrume22
Derivative Financial Instruments Derivative Financial Instruments (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | • an unrealized appreciation or depreciation of our contracted commitments to purchase or sell when purchase or sale prices under the commitments are compared with current commodity prices; • market values of natural gas and uranium inventories that differ from the cost of those commodities in inventory; and • actual cash outlays for the purchase of these commodities that differ from anticipated cash outlays. The derivatives that we use to hedge these risks are governed by our risk management policies for forward contracts, futures, options, and swaps. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The goal of the hedging program is generally to mitigate financial risks while ensuring that sufficient volumes are available to meet our requirements. Contracts we enter into as part of our risk management program may be settled financially, settled by physical delivery, or net settled with the counterparty. |
Summary Of Significant Accoun23
Summary Of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Asset Retirement Obligation Disclosure [Text Block] | The following table provides a reconciliation of the beginning and ending carrying amount of AROs for the six months ended June 30, 2017 : Ameren Missouri Ameren Illinois (a) Ameren Balance at December 31, 2016 $ 644 (b) $ 6 $ 650 (b) Liabilities settled (1 ) (c) (1 ) Accretion (d) 13 (c) 13 Change in estimates (e) (12 ) (1 ) (13 ) Balance at June 30, 2017 $ 644 (b) $ 5 $ 649 (b) (a) Included in “Other deferred credits and liabilities” on the balance sheet. (b) Balance included $15 million in “Other current liabilities” on the balance sheet as of December 31, 2016 and June 30, 2017, respectively. (c) Less than $1 million. (d) Accretion expense was recorded as a decrease to regulatory liabilities. (e) Ameren Missouri changed its fair value estimate primarily related to extending the remediation period of certain CCR storage facilities. |
Summary Of Nonvested Shares Related To Long-Term Incentive Plan | A summary of nonvested performance share units at June 30, 2017 , and changes during the six months ended June 30, 2017 , under the 2014 Incentive Plan are presented below: Performance Share Units Share Units Weighted-average Fair Value per Share Unit Nonvested at January 1, 2017 1,059,639 $ 48.04 Granted (a) 498,940 59.16 Forfeitures (38,521 ) 52.40 Vested (b) (5,992 ) 52.88 Nonvested at June 30, 2017 1,514,066 $ 51.57 (a) Performance share units granted to certain executive and nonexecutive officers and other eligible employees under the 2014 Incentive Plan. (b) Performance share units vested due to the attainment of retirement eligibility by certain employees. Actual shares issued for retirement-eligible employees vary depending on actual performance over the three -year measurement period. |
Schedule of Excise Taxes | The following table presents excise taxes recorded in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months 2017 2016 2017 2016 Ameren Missouri $ 40 $ 40 $ 71 $ 70 Ameren Illinois 11 11 30 31 Ameren $ 51 $ 51 $ 101 $ 101 |
Short-Term Debt And Liquidity S
Short-Term Debt And Liquidity Short-Term Debt and Liquidity (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | The following table presents commercial paper outstanding as of June 30, 2017 , and December 31, 2016 : 2017 2016 Ameren (parent) $ 673 $ 507 Ameren Missouri 60 — Ameren Illinois 159 51 Ameren Consolidated $ 892 $ 558 The following table summarizes the borrowing activity and relevant interest rates under Ameren’s (parent), Ameren Missouri’s, and Ameren Illinois’ commercial paper programs for the six months ended June 30, 2017 and 2016: Ameren (parent) Ameren Missouri Ameren Illinois Ameren Consolidated 2017 Average daily commercial paper outstanding $ 736 $ 6 $ 66 $ 808 Weighted-average interest rate 1.19 % 1.10 % 1.14 % 1.19 % Peak commercial paper during period (a) $ 841 $ 60 $ 163 $ 948 Peak interest rate 1.50 % 1.41 % 1.50 % 1.50 % 2016 Average daily commercial paper outstanding $ 402 $ 117 $ 12 $ 531 Weighted-average interest rate 0.82 % 0.74 % 0.79 % 0.80 % Peak commercial paper during period (a) $ 549 $ 208 $ 177 $ 839 Peak interest rate 0.95 % 0.85 % 0.85 % 0.95 % (a) The timing of peak commercial paper issuances varies by company. Therefore, the sum of peak commercial paper issuances presented by company does not equal the Ameren Consolidated peak commercial paper issuances for the period. |
Long-Term Debt And Equity Fin25
Long-Term Debt And Equity Financings Long Term Debt and Equity Financings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Long-Term Debt And Equity Financings [Abstract] | |
Schedule of Maturities of Long-term Debt | The following table presents the principal maturities schedule for the notes (assuming the issuance of $450 million principal amount of notes): Payment Date Principal Payment August 2022 $ 49.5 August 2024 49.5 August 2027 49.5 August 2030 49.5 August 2032 49.5 August 2038 49.5 August 2043 76.5 August 2050 76.5 Total Principal Amount of Notes $ 450.0 |
Other Income and Expenses (Tabl
Other Income and Expenses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Other Nonoperating Income (Expense) [Abstract] | |
Other Income And Expenses | The following table presents the components of “Other Income and Expenses” in the Ameren Companies’ statements of income for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months 2017 2016 2017 2016 Ameren: (a) Miscellaneous income: Allowance for equity funds used during construction $ 4 $ 5 $ 10 $ 13 Interest income on industrial development revenue bonds 6 6 13 13 Interest income 3 4 5 8 Other 1 1 1 2 Total miscellaneous income $ 14 $ 16 $ 29 $ 36 Miscellaneous expense: Donations $ 2 $ 2 $ 7 $ 7 Other 3 4 7 6 Total miscellaneous expense $ 5 $ 6 $ 14 $ 13 Ameren Missouri: Miscellaneous income: Allowance for equity funds used during construction $ 4 $ 3 $ 9 $ 10 Interest income on industrial development revenue bonds 6 6 13 13 Other 1 — 1 1 Total miscellaneous income $ 11 $ 9 $ 23 $ 24 Three Months Six Months 2017 2016 2017 2016 Miscellaneous expense: Donations $ 2 $ 1 $ 2 $ 2 Other — 1 2 2 Total miscellaneous expense $ 2 $ 2 $ 4 $ 4 Ameren Illinois: Miscellaneous income: Allowance for equity funds used during construction $ — $ 2 $ 1 $ 3 Interest income 2 3 4 7 Other 1 1 1 1 Total miscellaneous income $ 3 $ 6 $ 6 $ 11 Miscellaneous expense: Donations $ 1 $ 1 $ 5 $ 5 Other 1 2 3 3 Total miscellaneous expense $ 2 $ 3 $ 8 $ 8 (a) Includes amounts for Ameren registrant and nonregistrant subsidiaries and intercompany eliminations. |
Derivative Financial Instrume27
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Open Gross Derivative Volumes By Commodity Type | The following table presents open gross commodity contract volumes by commodity type for derivative assets and liabilities as of June 30, 2017 , and December 31, 2016 . As of June 30, 2017 , these contracts extended through October 2019, March 2023, May 2032, and March 2020 for fuel oils, natural gas, power, and uranium, respectively. Quantity (in millions, except as indicated) 2017 2016 Commodity Ameren Missouri Ameren Illinois Ameren Ameren Missouri Ameren Illinois Ameren Fuel oils (in gallons) (a) 35 (b) 35 30 (b) 30 Natural gas (in mmbtu) 26 147 173 25 129 154 Power (in megawatthours) 1 9 10 1 9 10 Uranium (pounds in thousands) 445 (b) 445 345 (b) 345 (a) Consists of ultra-low-sulfur diesel products. (b) Not applicable. |
Derivative Instruments Carrying Value | The following table presents the carrying value and balance sheet location of all derivative commodity contracts, none of which were designated as hedging instruments, as of June 30, 2017 , and December 31, 2016 : Balance Sheet Location Ameren Missouri Ameren Illinois Ameren 2017 Fuel oils Other current assets $ 1 $ — $ 1 Natural gas Other current assets — 1 1 Other assets — 1 1 Power Other current assets 14 — 14 Other assets 1 — 1 Total assets (a) $ 16 $ 2 $ 18 Fuel oils Other current liabilities $ 5 $ — $ 5 Other deferred credits and liabilities 1 — 1 Natural gas Other current liabilities 2 9 11 Other deferred credits and liabilities 5 6 11 Power Other current liabilities 1 13 14 Other deferred credits and liabilities — 179 179 Uranium Other deferred credits and liabilities — (b) — — (b) Total liabilities (c) $ 14 $ 207 $ 221 2016 Fuel oils Other current assets $ 2 $ — $ 2 Other assets 1 — 1 Natural gas Other current assets 1 11 12 Other assets 1 2 3 Power Other current assets 9 — 9 Total assets (a) $ 14 $ 13 $ 27 Fuel oils Other current liabilities $ 5 $ — $ 5 Natural gas Other current liabilities 1 3 4 Other deferred credits and liabilities 5 5 10 Power Other current liabilities 3 12 15 Other deferred credits and liabilities — 173 173 Uranium Other deferred credits and liabilities 4 — 4 Total liabilities (c) $ 18 $ 193 $ 211 (a) The cumulative amount of pretax net gains on all derivative instruments is deferred as a regulatory liability. (b) Beginning in 2017, as a result of rulebook amendments at the Chicago Mercantile Exchange, the fair value of uranium derivative liabilities are offset by certain settlement payments made to the exchange previously characterized as collateral and included within “Other assets” on Ameren’s and Ameren Missouri’s balance sheet. (c) The cumulative amount of pretax net losses on all derivative instruments is deferred as a regulatory asset. |
Derivative Instruments With Credit Risk-Related Contingent Features | The following table presents, as of June 30, 2017 , the aggregate fair value of all derivative instruments with credit risk-related contingent features in a gross liability position, the cash collateral posted, and the aggregate amount of additional collateral that counterparties could require. The additional collateral required is the net liability position allowed under the master netting arrangements or similar agreements, assuming (1) the credit risk-related contingent features underlying these arrangements were triggered on June 30, 2017 , and (2) those counterparties with rights to do so requested collateral. Aggregate Fair Value of Derivative Liabilities (a) Cash Collateral Posted Potential Aggregate Amount of Additional Collateral Required (b) 2017 Ameren Missouri $ 65 $ 3 $ 59 Ameren Illinois 43 — 37 Ameren $ 108 $ 3 $ 96 (a) Before consideration of master netting arrangements or similar agreements and including NPNS and other accrual contract exposures. (b) As collateral requirements with certain counterparties are based on master netting arrangements or similar agreements, the aggregate amount of additional collateral required to be posted is determined after consideration of the effects of such arrangements. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The following table describes the valuation techniques and unobservable inputs utilized by the Ameren Companies for the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy for the periods ended June 30, 2017 and December 31, 2016 : Fair Value Weighted Average Assets Liabilities Valuation Technique(s) Unobservable Input Range Level 3 Derivative asset and liability – commodity contracts (a) : 2017 Fuel oils $ 1 $ (2 ) Option model Volatilities(%) (b) 26 – 36 27 Discounted cash flow Counterparty credit risk(%) (c)(d) 0.22 (e) Ameren Missouri credit risk(%) (c)(d) 0.37 (e) Escalation rate (%) (b)(f) 0 – 1 0 Natural gas — (2 ) Discounted cash flow Nodal basis ($/mmbtu) (b) (0.80) – (0.10) (0.70) Counterparty credit risk (%) (c)(d) 0.45 – 6 0.82 Ameren Illinois credit risk (%) (c)(d) 0.37 (e) Fair Value Weighted Average Assets Liabilities Valuation Technique(s) Unobservable Input Range Power (g) $ 15 $ (193 ) Discounted cash flow Average forward peak and off-peak pricing – forwards/swaps ($/MWh) (h) 25 – 42 29 Estimated auction price for FTRs ($/MW) (b) (730) – 1,398 284 Nodal basis ($/MWh) (h) (3) – 0 (2) Ameren Illinois credit risk (%) (c)(d) 0.37 (e) Fundamental energy production model Estimated future natural gas prices ($/mmbtu) (b) 3 – 4 3 Escalation rate (%) (b)(i) 3 (e) Contract price allocation Estimated renewable energy credit costs ($/credit) (b) 5 – 7 6 2016 Fuel oils $ 1 $ — Option model Volatilities (%) (b) 24 – 66 28 Discounted cash flow Counterparty credit risk (%) (c)(d) 0.13 – 0.22 0.15 Ameren Missouri credit risk (%) (c)(d) 0.38 (e) Escalation rate (%) (b)(f) (2) – 2 0 Natural gas 1 (1 ) Option model Volatilities (%) (b) 31 – 66 36 Nodal basis ($/mmbtu) (b) (0.40) – (0.10) (0.20) Discounted cash flow Nodal basis ($/mmbtu) (b) (0.80) – 0 (0.50) Counterparty credit risk (%) (c)(d) 0.13 – 8 1 Ameren Illinois credit risk (%) (c)(d) 0.38 (e) Power (g) 9 (187 ) Discounted cash flow Average forward peak and off-peak pricing – forwards/swaps ($/MWh) (h) 26 – 44 29 Estimated auction price for FTRs ($/MW) (b) (71) – 5,270 125 Nodal basis ($/MWh) (h) (6) – 0 (2) Ameren Illinois credit risk (%) (c)(d) 0.38 (e) Fundamental energy production model Estimated future natural gas prices ($/mmbtu) (b) 3 – 4 3 Escalation rate (%) (b)(i) 5 (e) Contract price allocation Estimated renewable energy credit costs ($/credit) (b) 5 – 7 6 Uranium — (4 ) Option model Volatilities (%) (b) 24 (e) Discounted cash flow Average forward uranium pricing ($/pound) (b) 22 – 24 22 Ameren Missouri credit risk (%) (c)(d) 0.38 (e) (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Generally, significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. (c) Generally, significant increases (decreases) in this input in isolation would result in a significantly lower (higher) fair value measurement. (d) Counterparty credit risk is applied only to counterparties with derivative asset balances. Ameren Missouri and Ameren Illinois credit risk is applied only to counterparties with derivative liability balances. (e) Not applicable. (f) Escalation rate applies to fuel oil prices 2019 and beyond. (g) Power valuations use visible third-party pricing evaluated by month for peak and off-peak demand through 2021 for June 30, 2017 and through 2020 for December 31, 2016. Valuations beyond 2021 for June 30, 2017 and 2020 for December 31, 2016 use fundamentally modeled pricing by month for peak and off-peak demand. (h) The balance at Ameren is comprised of Ameren Missouri and Ameren Illinois power contracts, which respond differently to unobservable input changes due to their opposing positions. (i) Escalation rate applies to power prices in 2031 and beyond. |
Schedule Of Fair Value Hierarchy Of Assets And Liabilities Measured At Fair Value On Recurring Basis | The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 : Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets: Ameren Derivative assets – commodity contracts (a) : Fuel oils $ — $ — $ 1 $ 1 Natural gas 1 1 — 2 Power — — 15 15 Total derivative assets – commodity contracts $ 1 $ 1 $ 16 $ 18 Nuclear decommissioning trust fund: Cash and cash equivalents $ 2 $ — $ — $ 2 Equity securities: U.S. large capitalization 426 — — 426 Debt securities: U.S. treasury and agency securities — 115 — 115 Corporate bonds — 83 — 83 Other — 23 — 23 Total nuclear decommissioning trust fund $ 428 $ 221 $ — $ 649 (b) Total Ameren $ 429 $ 222 $ 16 $ 667 Ameren Missouri Derivative assets – commodity contracts (a) : Fuel oils $ — $ — $ 1 $ 1 Power — — 15 15 Total derivative assets – commodity contracts $ — $ — $ 16 $ 16 Nuclear decommissioning trust fund: Cash and cash equivalents $ 2 $ — $ — $ 2 Equity securities: U.S. large capitalization 426 — — 426 Debt securities: U.S. treasury and agency securities — 115 — 115 Corporate bonds — 83 — 83 Other — 23 — 23 Total nuclear decommissioning trust fund $ 428 $ 221 $ — $ 649 (b) Total Ameren Missouri $ 428 $ 221 $ 16 $ 665 Ameren Illinois Derivative assets – commodity contracts (a) : Natural gas $ 1 $ 1 $ — $ 2 Liabilities: Ameren Derivative liabilities – commodity contracts (a) : Fuel oils $ 4 $ — $ 2 $ 6 Natural gas — 20 2 22 Power — — 193 193 Total Ameren $ 4 $ 20 $ 197 $ 221 Ameren Missouri Derivative liabilities – commodity contracts (a) : Fuel oils $ 4 $ — $ 2 $ 6 Natural gas — 7 — 7 Power — — 1 1 Total Ameren Missouri $ 4 $ 7 $ 3 $ 14 Ameren Illinois Derivative liabilities – commodity contracts (a) : Natural gas $ — $ 13 $ 2 $ 15 Power — — 192 192 Total Ameren Illinois $ — $ 13 $ 194 $ 207 (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Balance excludes $ 2 million of receivables, payables, and accrued income, net. The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 : Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets: Ameren Derivative assets – commodity contracts (a) : Fuel oils $ 2 $ — $ 1 $ 3 Natural gas 2 12 1 15 Power — — 9 9 Total derivative assets – commodity contracts $ 4 $ 12 $ 11 $ 27 Nuclear decommissioning trust fund: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. large capitalization 408 — — 408 Debt securities: U.S. treasury and agency securities — 112 — 112 Corporate bonds — 67 — 67 Other — 17 — 17 Total nuclear decommissioning trust fund $ 409 $ 196 $ — $ 605 (b) Total Ameren $ 413 $ 208 $ 11 $ 632 Ameren Missouri Derivative assets – commodity contracts (a) : Fuel oils $ 2 $ — $ 1 $ 3 Natural gas — 1 1 2 Power — — 9 9 Total derivative assets – commodity contracts $ 2 $ 1 $ 11 $ 14 Nuclear decommissioning trust fund: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. large capitalization 408 — — 408 Debt securities: U.S. treasury and agency securities — 112 — 112 Corporate bonds — 67 — 67 Other — 17 — 17 Total nuclear decommissioning trust fund $ 409 $ 196 $ — $ 605 (b) Total Ameren Missouri $ 411 $ 197 $ 11 $ 619 Ameren Illinois Derivative assets – commodity contracts (a) : Natural gas $ 2 $ 11 $ — $ 13 Liabilities: Ameren Derivative liabilities – commodity contracts (a) : Fuel oils $ 5 $ — $ — $ 5 Natural gas — 13 1 14 Power — 1 187 188 Uranium — — 4 4 Total Ameren $ 5 $ 14 $ 192 $ 211 Ameren Missouri Derivative liabilities – commodity contracts (a) : Fuel oils $ 5 $ — $ — $ 5 Natural gas — 6 — 6 Power — 1 2 3 Uranium — — 4 4 Total Ameren Missouri $ 5 $ 7 $ 6 $ 18 Ameren Illinois Derivative liabilities – commodity contracts (a) : Natural gas $ — $ 7 $ 1 $ 8 Power — — 185 185 Total Ameren Illinois $ — $ 7 $ 186 $ 193 (a) The derivative asset and liability balances are presented net of counterparty credit considerations. (b) Balance excludes $2 million of receivables, payables, and accrued income, net. |
Schedule Of Changes In The Fair Value Of Financial Assets And Liabilities Classified As Level Three In The Fair Value Hierarchy | The following table summarizes the changes in the fair value of power financial assets and liabilities classified as Level 3 in the fair value hierarchy: Net derivative commodity contracts Ameren Missouri Ameren Illinois Ameren For the three months ended June 30, 2017 Beginning balance at April 1, 2017 $ 4 $ (194 ) $ (190 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) (1 ) (2 ) Purchases 15 — 15 Settlements (4 ) 3 (1 ) Ending balance at June 30, 2017 $ 14 $ (192 ) $ (178 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2017 $ — $ (2 ) $ (2 ) For the three months ended June 30, 2016 Beginning balance at April 1, 2016 $ 6 $ (187 ) $ (181 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) 14 13 Purchases 13 — 13 Settlements (4 ) 4 — Ending balance at June 30, 2016 $ 14 $ (169 ) $ (155 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2016 $ — $ 14 $ 14 For the six months ended June 30, 2017 Beginning balance at January 1, 2017 $ 7 $ (185 ) $ (178 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (1 ) (11 ) (12 ) Purchases 15 — 15 Settlements (7 ) 4 (3 ) Ending balance at June 30, 2017 $ 14 $ (192 ) $ (178 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2017 $ — $ (13 ) $ (13 ) For the six months ended June 30, 2016 Beginning balance at January 1, 2016 $ 16 $ (170 ) $ (154 ) Realized and unrealized gains (losses) included in regulatory assets/liabilities (4 ) (7 ) (11 ) Purchases 13 — 13 Settlements (11 ) 8 (3 ) Ending balance at June 30, 2016 $ 14 $ (169 ) $ (155 ) Change in unrealized gains (losses) related to assets/liabilities held at June 30, 2016 $ — $ (5 ) $ (5 ) |
Schedule Of Carrying Amounts And Estimated Fair Values Of Long-Term Debt, Capital Lease Obligations And Preferred Stock | The following table presents the carrying amounts and estimated fair values of our long-term debt, capital lease obligations and preferred stock at June 30, 2017 , and December 31, 2016 : June 30, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Ameren: Long-term debt and capital lease obligations (including current portion) $ 7,399 $ 7,942 $ 7,276 $ 7,772 Preferred stock (a) 142 131 142 131 Ameren Missouri: Long-term debt and capital lease obligations (including current portion) $ 3,966 $ 4,310 $ 3,994 $ 4,304 Preferred stock 80 79 80 79 Ameren Illinois: Long-term debt (including current portion) $ 2,589 $ 2,773 $ 2,588 $ 2,765 Preferred stock 62 52 62 52 (a) Preferred stock is recorded in “Noncontrolling Interests” on the consolidated balance sheet. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The following table presents the impact on Ameren Missouri and Ameren Illinois of related party transactions for the three and six months ended June 30, 2017 and 2016 : Three Months Six Months Agreement Income Statement Line Item Ameren Missouri Ameren Illinois Ameren Missouri Ameren Illinois Ameren Missouri power supply Operating Revenues 2017 $ 6 $ (a) $ 17 $ (a) agreements with Ameren Illinois 2016 3 (a) 12 (a) Ameren Missouri and Ameren Illinois Operating Revenues 2017 6 1 13 2 rent and facility services 2016 7 1 13 2 Ameren Missouri and Ameren Illinois Operating Revenues 2017 (b) 1 (b) 1 miscellaneous support services 2016 (b) (b) (b) (b) Total Operating Revenues 2017 $ 12 $ 2 $ 30 $ 3 2016 10 1 25 2 Ameren Illinois power supply Purchased Power 2017 $ (a) $ 6 $ (a) $ 17 agreements with Ameren Missouri 2016 (a) 3 (a) 12 Ameren Illinois transmission Purchased Power 2017 (a) 1 (a) 1 services with ATXI 2016 (a) 1 (a) 1 Total Purchased Power 2017 $ (a) $ 7 $ (a) $ 18 2016 (a) 4 (a) 13 Ameren Services support services Other Operations and Maintenance 2017 $ 34 $ 34 $ 69 $ 66 agreement 2016 32 30 66 61 Money pool borrowings (advances) Interest Charges/ Miscellaneous Income 2017 $ (b) $ (b) $ (b) $ (b) 2016 (b) (b) (b) (b) (a) Not applicable. (b) Amount less than $1 million. |
Callaway Energy Center (Tables)
Callaway Energy Center (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Nuclear Waste Matters [Abstract] | |
Schedule of Insurance Coverage at Callaway Energy Center | The following table presents insurance coverage at Ameren Missouri’s Callaway energy center at June 30, 2017 . The property coverage and the nuclear liability coverage renewal dates are April 1 and January 1, respectively, of each year. Both coverages were renewed in 2017. Type and Source of Coverage Maximum Coverages Maximum Assessments for Single Incidents Public liability and nuclear worker liability: American Nuclear Insurers $ 450 $ — Pool participation 12,986 (a) 127 (b) $ 13,436 (c) $ 127 Property damage: NEIL and EMANI $ 3,200 (d) $ 29 (e) Replacement power: NEIL $ 490 (f) $ 7 (e) (a) Provided through mandatory participation in an industrywide retrospective premium assessment program. (b) Retrospective premium under the Price-Anderson Act. This is subject to retrospective assessment with respect to a covered loss in excess of $450 million in the event of an incident at any licensed United States commercial reactor, payable at $19 million per year. (c) Limit of liability for each incident under the Price-Anderson liability provisions of the Atomic Energy Act of 1954, as amended. This limit is subject to change to account for the effects of inflation and changes in the number of licensed reactors. (d) NEIL provides $2.7 billion in property damage, stabilization, decontamination, and premature decommissioning insurance for radiation events and $2.3 billion in property damage for nonradiation events. EMANI provides $490 million for both radiation and nonradiation events. (e) All NEIL insured plants could be subject to assessments should losses exceed the accumulated funds from NEIL. (f) Provides replacement power cost insurance in the event of a prolonged accidental outage. Weekly indemnity up to $4.5 million for 52 weeks, which commences after the first twelve weeks of an outage, plus up to $3.6 million per week for a minimum of 71 weeks thereafter for a total not exceeding the policy limit of $490 million . Nonradiation events are limited to $328 million . |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Components Of Net Periodic Benefit Cost | The following table presents the components of the net periodic benefit cost (benefit) incurred for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2017 and 2016 : Pension Benefits Postretirement Benefits Three Months Six Months Three Months Six Months 2017 2016 2017 2016 2017 2016 2017 2016 Service cost $ 23 $ 20 $ 46 $ 40 $ 5 $ 5 $ 10 $ 10 Interest cost 45 45 90 92 11 12 23 24 Expected return on plan assets (65 ) (63 ) (131 ) (126 ) (18 ) (18 ) (37 ) (36 ) Amortization of: Prior service benefit — — — — (1 ) (1 ) (2 ) (2 ) Actuarial loss (gain) 13 7 27 16 (1 ) (2 ) (3 ) (5 ) Net periodic benefit cost (benefit) $ 16 $ 9 $ 32 $ 22 $ (4 ) $ (4 ) $ (9 ) $ (9 ) |
Summary Of Benefit Plan Costs Incurred | Ameren Missouri and Ameren Illinois are responsible for their respective shares of Ameren’s pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs (benefit) incurred for the three and six months ended June 30, 2017 and 2016 : Pension Benefits Postretirement Benefits Three Months Six Months Three Months Six Months 2017 2016 2017 2016 2017 2016 2017 2016 Ameren Missouri (a) $ 6 $ 5 $ 12 $ 13 $ (1 ) $ (1 ) $ (2 ) $ (2 ) Ameren Illinois 10 6 20 11 (3 ) (3 ) (7 ) (7 ) Other — (2 ) — (2 ) — — — — Ameren (a)(b) $ 16 $ 9 $ 32 $ 22 $ (4 ) $ (4 ) $ (9 ) $ (9 ) (a) Does not include the impact of the regulatory tracking mechanism for the difference between the level of pension and postretirement benefit costs incurred by Ameren Missouri under GAAP and the level of such costs included in rates. (b) Includes amounts for Ameren registrants and nonregistrant subsidiaries. |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule Of Segment Reporting Information By Segment | The following tables present revenues, net income attributable to common shareholders, and capital expenditures by segment at Ameren and Ameren Illinois for the three and six months ended June 30, 2017 and 2016 . Ameren, Ameren Missouri, and Ameren Illinois management review segment capital expenditure information rather than any individual or total asset amount. Ameren Three Months Ameren Missouri Ameren Illinois Electric Distribution Ameren Illinois Natural Gas Ameren Transmission Other Intersegment Eliminations Consolidated 2017 External revenues $ 923 $ 387 $ 134 $ 92 $ 2 $ — $ 1,538 Intersegment revenues 12 2 — 13 (a) — (27 ) — Net income attributable to Ameren common shareholders 120 33 5 34 (b) 1 — 193 Capital expenditures 159 122 58 156 1 (2 ) 494 2016 External revenues $ 857 $ 357 $ 131 $ 81 $ 1 $ — $ 1,427 Intersegment revenues 10 1 — 11 (a) — (22 ) — Net income attributable to Ameren common shareholders 92 18 7 32 (b) (2 ) — 147 Capital expenditures 175 119 45 164 1 — 504 Six Months 2017 External revenues $ 1,695 $ 771 $ 398 $ 188 $ — $ — $ 3,052 Intersegment revenues 30 3 — 19 (a) — (52 ) — Net income attributable to Ameren common shareholders 125 63 38 68 (b) 1 — 295 Capital expenditures 355 242 109 290 5 (3 ) 998 2016 External revenues $ 1,583 $ 708 $ 416 $ 153 $ 1 $ — $ 2,861 Intersegment revenues 25 2 — 22 (a) — (49 ) — Net income attributable to Ameren common shareholders 106 29 42 59 (b) 16 — 252 Capital expenditures 353 236 80 328 3 — 1,000 (a) Ameren Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. (b) Ameren Transmission earnings include an allocation of financing costs from Ameren (parent). Ameren Illinois Three Months Ameren Illinois Electric Distribution Ameren Illinois Natural Gas Ameren Illinois Transmission Intersegment Eliminations Consolidated 2017 External revenues $ 389 $ 134 $ 53 $ — $ 576 Intersegment revenues — — 12 (a) (12 ) — Net income available to common shareholder 33 5 19 — 57 Capital expenditures 122 58 77 — 257 2016 External revenues $ 358 $ 131 $ 53 $ — $ 542 Intersegment revenues — — 10 (a) (10 ) — Net income available to common shareholder 18 7 20 — 45 Capital expenditures 119 45 67 — 231 Six Months 2017 External revenues $ 774 $ 398 $ 107 $ — $ 1,279 Intersegment revenues — — 18 (a) (18 ) — Net income available to common shareholder 63 38 35 — 136 Capital expenditures 242 109 133 — 484 2016 External revenues $ 710 $ 416 $ 93 $ — $ 1,219 Intersegment revenues — — 21 (a) (21 ) — Net income available to common shareholder 29 42 33 — 104 Capital expenditures 236 80 126 — 442 (a) Ameren Illinois Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. |
Summary Of Significant Accoun33
Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Schedule of Asset Retirement Obligations) (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | ||
Asset Retirement Obligation [Line Items] | |||
Balance | [1] | $ 649 | $ 650 |
Liabilities settled | (1) | ||
Accretion | [2] | 13 | |
Change of estimates | [3] | (13) | |
Other current liabilities | 298 | 274 | |
Union Electric Company | |||
Asset Retirement Obligation [Line Items] | |||
Balance | [1] | 644 | 644 |
Liabilities settled | (1) | ||
Accretion | [2] | 13 | |
Change of estimates | [3] | (12) | |
Other current liabilities | 130 | 123 | |
Ameren Illinois Company | |||
Asset Retirement Obligation [Line Items] | |||
Balance | [4] | 5 | 6 |
Liabilities settled | [4],[5] | (1) | |
Accretion | [2],[5] | 1 | |
Change of estimates | [3],[4] | (1) | |
Other current liabilities | 128 | 109 | |
Asset Retirement Obligation Balance [Member] | |||
Asset Retirement Obligation [Line Items] | |||
Other current liabilities | 15 | 15 | |
Asset Retirement Obligation Balance [Member] | Union Electric Company | |||
Asset Retirement Obligation [Line Items] | |||
Other current liabilities | $ 15 | $ 15 | |
[1] | Balance included $15 million in “Other current liabilities” on the balance sheet as of December 31, 2016 and June 30, 2017, respectively. | ||
[2] | Accretion expense was recorded as a decrease to regulatory liabilities. | ||
[3] | Ameren Missouri changed its fair value estimate primarily related to extending the remediation period of certain CCR storage facilities. | ||
[4] | Included in “Other deferred credits and liabilities” on the balance sheet. | ||
[5] | Less than $1 million. |
Summary Of Significant Accoun34
Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Summary of Nonvested Shares Related To Long-Term Incentive Plan) (Details) - $ / shares | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | ||
Weighted-average Fair Value per Unit at Grant Date | |||
Closing common share price | $ 52.46 | ||
Performance Shares | |||
Share Units | |||
Share Units, Nonvested as of beginning of year | 1,059,639 | ||
Share Units, Granted | [1] | 498,940 | |
Share Units, Forfeitures | (38,521) | ||
Share Units, Vested | [2] | (5,992) | |
Share Units, Nonvested as of Current period end | 1,514,066 | ||
Weighted-average Fair Value per Unit at Grant Date | |||
Weighted-average Fair Value per Unit, Nonvested as of Beginning of year | $ 48.04 | ||
Weighted-average Fair Value per Unit, Granted | [1] | 59.16 | |
Weighted-average Fair Value per Unit, Forfeitures | 52.40 | ||
Weighted-average Fair Value per Unit, Vested | [2] | 52.88 | |
Weighted-average Fair Value per Unit, Nonvested as of Current period end | $ 51.57 | ||
Performance period | 3 years | ||
Risk free interest rate period | 3 years | ||
Three-year risk-free rate | 1.47% | ||
Volatility rate, minimum | 15.00% | ||
Volatility rate, maximum | 21.00% | ||
[1] | Performance share units granted to certain executive and nonexecutive officers and other eligible employees under the 2014 Incentive Plan. | ||
[2] | Performance share units vested due to the attainment of retirement eligibility by certain employees. Actual shares issued for retirement-eligible employees vary depending on actual performance over the three-year measurement period. |
Summary Of Significant Accoun35
Summary Of Significant Accounting Policies (Schedule Of Excise Taxes) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accounting Policies [Line Items] | ||||
Excise tax expense | $ 51 | $ 51 | $ 101 | $ 101 |
Union Electric Company | ||||
Accounting Policies [Line Items] | ||||
Excise tax expense | 40 | 40 | 71 | 70 |
Ameren Illinois Company | ||||
Accounting Policies [Line Items] | ||||
Excise tax expense | $ 11 | $ 11 | $ 30 | $ 31 |
Summary Of Significant Accoun36
Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Narrative) (Details) - Subsequent Event [Member] - State and Local Jurisdiction [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
State Income Tax Statutory Rate | 7.75% |
Increase (Decrease) in Income Taxes | $ 15 |
Deferred Tax Liabilities, Net | 97 |
Other Affiliated Entities and Intercompany Eliminations [Member] | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
Increase (Decrease) in Income Taxes | 14 |
Ameren Illinois Company | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
Increase (Decrease) in Income Taxes | 1 |
Deferred Tax Liabilities, Net | $ 79 |
Maximum | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
State Income Tax Statutory Rate | 9.50% |
Minimum | |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |
State Income Tax Statutory Rate | 7.30% |
Rate And Regulatory Matters (Na
Rate And Regulatory Matters (Narrative-Missouri) (Detail) - Electric Distribution - Union Electric Company $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Final Rate Order [Member] | |
Rate And Regulatory Matters [Line Items] | |
Revenue Requirement | $ 3,400 |
Public Utilities, Requested Rate Increase (Decrease), Amount | 92 |
Components of Rate Increase - Net Energy Costs [Member] | |
Rate And Regulatory Matters [Line Items] | |
Public Utilities, Requested Rate Increase (Decrease), Amount | 54 |
Components of Rate Increase - Regulatory Amortizations [Member] | |
Rate And Regulatory Matters [Line Items] | |
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 26 |
Rate And Regulatory Matters (38
Rate And Regulatory Matters (Narrative-Illinois) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Rate And Regulatory Matters [Line Items] | |||||
Regulatory assets | $ 1,506 | $ 1,506 | $ 1,437 | ||
Current regulatory assets | 95 | 95 | 149 | ||
Electric | 1,383 | $ 1,274 | 2,589 | $ 2,376 | |
Ameren Illinois Company | |||||
Rate And Regulatory Matters [Line Items] | |||||
Regulatory assets | 907 | 907 | 816 | ||
Current regulatory assets | 75 | 75 | $ 108 | ||
Electric | 441 | $ 411 | 880 | 803 | |
IEIMA | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Electric | 75 | $ 13 | |||
2016 IEIMA Revenue Requirement Reconciliation [Member] | IEIMA | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Regulatory assets | 24 | 24 | |||
2015 IEIMA Revenue Requirement Reconciliation | IEIMA | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Current regulatory assets | 40 | 40 | |||
2017 IEIMA Revenue Requirement Reconciliation | IEIMA | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Regulatory assets | 76 | $ 76 | |||
Pending Rate Case | IEIMA | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 17 | ||||
FEJA [Member] | Ameren Illinois Company | Electric Distribution | |||||
Rate And Regulatory Matters [Line Items] | |||||
Public Utilities, Requested Equity Capital Structure, Percentage | 50.00% |
Rate And Regulatory Matters (39
Rate And Regulatory Matters (Narrative-Federal) (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Rate And Regulatory Matters [Line Items] | ||
Current regulatory liabilities | $ 141 | $ 110 |
Ameren Illinois Company | ||
Rate And Regulatory Matters [Line Items] | ||
Current regulatory liabilities | $ 95 | $ 78 |
Midwest Independent Transmission System Operator, Inc | ||
Rate And Regulatory Matters [Line Items] | ||
Public Utilities, Approved Return on Equity, Percentage | 12.38% | |
Midwest Independent Transmission System Operator, Inc | Final Rate Order [Member] | ||
Rate And Regulatory Matters [Line Items] | ||
Public Utilities, Approved Return on Equity, Percentage | 10.32% | |
Customer Requested Rate on Equity | 9.15% | |
Payments for Legal Settlements | $ 21 | |
Incentive adder to FERC allowed base return on common equity | 0.50% | |
Midwest Independent Transmission System Operator, Inc | Final Rate Order [Member] | Ameren Illinois Company | ||
Rate And Regulatory Matters [Line Items] | ||
Payments for Legal Settlements | $ 17 | |
Midwest Independent Transmission System Operator, Inc | Administrative Law Judge | ||
Rate And Regulatory Matters [Line Items] | ||
Public Utilities, Approved Return on Equity, Percentage | 9.70% | |
Midwest Independent Transmission System Operator, Inc | Pending Ferc Case | ||
Rate And Regulatory Matters [Line Items] | ||
Current regulatory liabilities | $ 41 | |
Midwest Independent Transmission System Operator, Inc | Pending Ferc Case | Ameren Illinois Company | ||
Rate And Regulatory Matters [Line Items] | ||
Current regulatory liabilities | $ 24 | |
Maximum | Midwest Independent Transmission System Operator, Inc | Final Rate Order [Member] | ||
Rate And Regulatory Matters [Line Items] | ||
Public Utilities, Approved Return on Equity, Percentage | 10.82% | |
Maximum | Midwest Independent Transmission System Operator, Inc | Administrative Law Judge | ||
Rate And Regulatory Matters [Line Items] | ||
Public Utilities, Approved Return on Equity, Percentage | 10.20% |
Short-Term Debt And Liquidity (
Short-Term Debt And Liquidity (Narrative) (Detail) $ in Billions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016 | Jun. 30, 2017USD ($) | Jun. 30, 2016 | |
Utilities | ||||
Line of Credit Facility [Line Items] | ||||
Short Term Debt, Weighted Average Interest Rate During Period | 1.27% | 0.60% | 1.14% | 0.54% |
Credit Agreements | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 1.2 | $ 1.2 | ||
Actual debt-to-capital ratio | 0.53 | 0.53 | ||
Missouri Credit Agreement | Union Electric Company | ||||
Line of Credit Facility [Line Items] | ||||
Actual debt-to-capital ratio | 0.48 | 0.48 | ||
Illinois Credit Agreement | Ameren Illinois Company | ||||
Line of Credit Facility [Line Items] | ||||
Actual debt-to-capital ratio | 0.47 | 0.47 |
Short-Term Debt And Liquidity41
Short-Term Debt And Liquidity Short-Term Debt and Liquidity (Commercial Paper outstanding) (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Short-term Debt [Line Items] | ||
Commercial paper outstanding | $ 892 | $ 558 |
Ameren (parent) | ||
Short-term Debt [Line Items] | ||
Commercial paper outstanding | 673 | 507 |
Union Electric Company | ||
Short-term Debt [Line Items] | ||
Commercial paper outstanding | 60 | 0 |
Ameren Illinois Company | ||
Short-term Debt [Line Items] | ||
Commercial paper outstanding | $ 159 | $ 51 |
Short-Term Debt And Liquidity42
Short-Term Debt And Liquidity Short-Term Debt and Liquidity (Commercial Paper) (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | ||
Short-term Debt [Line Items] | |||
Average Daily Commercial Paper Borrowings Outstanding | $ 808 | $ 531 | |
Weighted-average interest rate | 1.19% | 0.80% | |
Peak commercial paper during period | [1] | $ 948 | $ 839 |
Peak interest rate | 1.50% | 0.95% | |
Ameren (parent) | |||
Short-term Debt [Line Items] | |||
Average Daily Commercial Paper Borrowings Outstanding | $ 736 | $ 402 | |
Weighted-average interest rate | 1.19% | 0.82% | |
Peak commercial paper during period | [1] | $ 841 | $ 549 |
Peak interest rate | 1.50% | 0.95% | |
Union Electric Company | |||
Short-term Debt [Line Items] | |||
Average Daily Commercial Paper Borrowings Outstanding | $ 6 | $ 117 | |
Weighted-average interest rate | 1.10% | 0.74% | |
Peak commercial paper during period | [1] | $ 60 | $ 208 |
Peak interest rate | 1.41% | 0.85% | |
Ameren Illinois Company | |||
Short-term Debt [Line Items] | |||
Average Daily Commercial Paper Borrowings Outstanding | $ 66 | $ 12 | |
Weighted-average interest rate | 1.14% | 0.79% | |
Peak commercial paper during period | [1] | $ 163 | $ 177 |
Peak interest rate | 1.50% | 0.85% | |
[1] | (a)The timing of peak commercial paper issuances varies by company. Therefore, the sum of peak commercial paper issuances presented by company does not equal the Ameren Consolidated peak commercial paper issuances for the period. |
Long-Term debt and Equity Fin43
Long-Term debt and Equity Financings (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Union Electric Company | Senior Secured Notes, 2.95%, Due 2027 - $400 Issuance | Secured Debt | |
Long-Term Debt And Equity Financings [Line Items] | |
Total principal amount of notes | $ 400,000,000 |
State interest rate | 2.95% |
Proceeds from issuance of secured debt | $ 396,000,000 |
Union Electric Company | Senior Secured Notes640 Due2017 | |
Long-Term Debt And Equity Financings [Line Items] | |
State interest rate | 6.40% |
Repayments of other long-term debt | $ 425,000,000 |
Ameren Transmission Company of Illinois | |
Long-Term Debt And Equity Financings [Line Items] | |
Redemption price, percentage | 100.00% |
Ameren Transmission Company of Illinois | Senior Unsecured Notes, 3.43%, Due 2050 | Unsecured Debt | |
Long-Term Debt And Equity Financings [Line Items] | |
Total principal amount of notes | $ 300,000,000 |
State interest rate | 3.43% |
Proceeds from issuance of secured debt | $ 149,000,000 |
Ratio of indebtedness to net capital | 0.70 |
Ratio of indebtedness to total assets | 0.10 |
Maximum | Ameren Transmission Company of Illinois | Senior Unsecured Notes, 3.43%, Due 2050 | Unsecured Debt | |
Long-Term Debt And Equity Financings [Line Items] | |
Total principal amount of notes | $ 450,000,000 |
Minimum | Ameren Transmission Company of Illinois | |
Long-Term Debt And Equity Financings [Line Items] | |
Redemption price, percentage | 5.00% |
Minimum | Ameren Transmission Company of Illinois | Senior Unsecured Notes, 3.43%, Due 2050 | Unsecured Debt | |
Long-Term Debt And Equity Financings [Line Items] | |
Total principal amount of notes | $ 150,000,000 |
Long-Term Debt and Equity Fin44
Long-Term Debt and Equity Financings (Schedule of Maturities of Long-Term Debt) (Details) - Ameren Transmission Company of Illinois - Unsecured Debt | Jun. 30, 2017USD ($) |
August 2,022 | |
Debt Instrument [Line Items] | |
Repayments of principal in year five | $ 49,500,000 |
August 2,024 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 49,500,000 |
August 2,027 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 49,500,000 |
August 2,030 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 49,500,000 |
August 2,032 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 49,500,000 |
August 2,038 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 49,500,000 |
August 2,043 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 76,500,000 |
August 2,050 | |
Debt Instrument [Line Items] | |
Repayments of principal after year five | 76,500,000 |
Senior Unsecured Notes, 3.43%, Due 2050 | |
Debt Instrument [Line Items] | |
Total principal amount of notes | 300,000,000 |
Senior Unsecured Notes, 3.43%, Due 2050 | Maximum | |
Debt Instrument [Line Items] | |
Total principal amount of notes | $ 450,000,000 |
Other Income and Expenses (Deta
Other Income and Expenses (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Other Nonoperating Income (Expense) [Line Items] | |||||
Allowance for equity funds used during construction | [1] | $ 4 | $ 5 | $ 10 | $ 13 |
Interest income on industrial development revenue bonds | [1] | 6 | 6 | 13 | 13 |
Interest income | [1] | 3 | 4 | 5 | 8 |
Other | [1] | 1 | 1 | 1 | 2 |
Total miscellaneous income | [1] | 14 | 16 | 29 | 36 |
Donations | [1] | 2 | 2 | 7 | 7 |
Other | [1] | 3 | 4 | 7 | 6 |
Total miscellaneous expense | [1] | 5 | 6 | 14 | 13 |
Union Electric Company | |||||
Other Nonoperating Income (Expense) [Line Items] | |||||
Allowance for equity funds used during construction | 4 | 3 | 9 | 10 | |
Interest income on industrial development revenue bonds | 6 | 6 | 13 | 13 | |
Other | 1 | 0 | 1 | 1 | |
Total miscellaneous income | 11 | 9 | 23 | 24 | |
Donations | 2 | 1 | 2 | 2 | |
Other | 0 | 1 | 2 | 2 | |
Total miscellaneous expense | 2 | 2 | 4 | 4 | |
Ameren Illinois Company | |||||
Other Nonoperating Income (Expense) [Line Items] | |||||
Allowance for equity funds used during construction | 0 | 2 | 1 | 3 | |
Interest income | 2 | 3 | 4 | 7 | |
Other | 1 | 1 | 1 | 1 | |
Total miscellaneous income | 3 | 6 | 6 | 11 | |
Donations | 1 | 1 | 5 | 5 | |
Other | 1 | 2 | 3 | 3 | |
Total miscellaneous expense | $ 2 | $ 3 | $ 8 | $ 8 | |
[1] | Includes amounts for Ameren registrant and nonregistrant subsidiaries and intercompany eliminations. |
Derivative Financial Instrume46
Derivative Financial Instruments (Open Gross Derivative Volumes By Commodity Type) (Detail) lb in Thousands, gal in Millions, MWh in Millions, MMBTU in Millions | Jun. 30, 2017galMWhMMBTUlb | Dec. 31, 2016galMWhMMBTUlb | |
Fuel Oils | |||
Derivative [Line Items] | |||
Quantity | gal | [1] | 35 | 30 |
Natural Gas | |||
Derivative [Line Items] | |||
Quantity | MMBTU | 173 | 154 | |
Power | |||
Derivative [Line Items] | |||
Quantity | MWh | 10 | 10 | |
Uranium | |||
Derivative [Line Items] | |||
Quantity | lb | 445 | 345 | |
Union Electric Company | Fuel Oils | |||
Derivative [Line Items] | |||
Quantity | gal | [1] | 35 | 30 |
Union Electric Company | Natural Gas | |||
Derivative [Line Items] | |||
Quantity | MMBTU | 26 | 25 | |
Union Electric Company | Power | |||
Derivative [Line Items] | |||
Quantity | MWh | 1 | 1 | |
Union Electric Company | Uranium | |||
Derivative [Line Items] | |||
Quantity | lb | 445 | 345 | |
Ameren Illinois Company | Natural Gas | |||
Derivative [Line Items] | |||
Quantity | MMBTU | 147 | 129 | |
Ameren Illinois Company | Power | |||
Derivative [Line Items] | |||
Quantity | MWh | 9 | 9 | |
[1] | Consists of ultra-low-sulfur diesel products. |
Derivative Financial Instrume47
Derivative Financial Instruments (Derivative Instruments Carrying Value) (Detail) - Not Designated As Hedging Instrument - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | |||
Derivative [Line Items] | |||||
Derivative assets | [1] | $ 18 | $ 27 | ||
Derivative liabilities | 221 | 211 | [2] | ||
Fuel Oils | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 2 | |||
Fuel Oils | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | ||||
Fuel Oils | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 5 | 5 | |||
Fuel Oils | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 1 | ||||
Natural Gas | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 12 | |||
Natural Gas | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 3 | |||
Natural Gas | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 11 | 4 | |||
Natural Gas | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 11 | 10 | |||
Power | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 14 | 9 | |||
Power | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | ||||
Power | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 14 | 15 | |||
Power | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 179 | 173 | |||
Uranium | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 0 | [3] | 4 | ||
Union Electric Company | |||||
Derivative [Line Items] | |||||
Derivative assets | [1] | 16 | 14 | ||
Derivative liabilities | [2] | 14 | 18 | ||
Union Electric Company | Fuel Oils | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 2 | |||
Union Electric Company | Fuel Oils | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | ||||
Union Electric Company | Fuel Oils | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 5 | 5 | |||
Union Electric Company | Fuel Oils | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 1 | ||||
Union Electric Company | Natural Gas | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | 1 | |||
Union Electric Company | Natural Gas | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | 1 | |||
Union Electric Company | Natural Gas | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 2 | 1 | |||
Union Electric Company | Natural Gas | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 5 | 5 | |||
Union Electric Company | Power | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 14 | 9 | |||
Union Electric Company | Power | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | ||||
Union Electric Company | Power | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 1 | 3 | |||
Union Electric Company | Power | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 0 | 0 | |||
Union Electric Company | Uranium | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 0 | [3] | 4 | ||
Ameren Illinois Company | |||||
Derivative [Line Items] | |||||
Derivative assets | [1] | 2 | 13 | ||
Derivative liabilities | [2] | 207 | 193 | ||
Ameren Illinois Company | Fuel Oils | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Ameren Illinois Company | Fuel Oils | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | ||||
Ameren Illinois Company | Fuel Oils | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 0 | 0 | |||
Ameren Illinois Company | Fuel Oils | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 0 | ||||
Ameren Illinois Company | Natural Gas | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 11 | |||
Ameren Illinois Company | Natural Gas | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 1 | 2 | |||
Ameren Illinois Company | Natural Gas | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 9 | 3 | |||
Ameren Illinois Company | Natural Gas | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 6 | 5 | |||
Ameren Illinois Company | Power | Other Current Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Ameren Illinois Company | Power | Other Assets | |||||
Derivative [Line Items] | |||||
Derivative assets | 0 | ||||
Ameren Illinois Company | Power | Other Current Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 13 | 12 | |||
Ameren Illinois Company | Power | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | 179 | 173 | |||
Ameren Illinois Company | Uranium | Other Deferred Credits And Liabilities | |||||
Derivative [Line Items] | |||||
Derivative liabilities | $ 0 | $ 0 | |||
[1] | The cumulative amount of pretax net gains on all derivative instruments is deferred as a regulatory liability. | ||||
[2] | The cumulative amount of pretax net losses on all derivative instruments is deferred as a regulatory asset | ||||
[3] | Beginning in 2017, as a result of rulebook amendments at the Chicago Mercantile Exchange, the fair value of uranium derivative liabilities are offset by certain settlement payments made to the exchange previously characterized as collateral and included within “Other assets” on Ameren’s and Ameren Missouri’s balance sheet. |
Derivative Financial Instrume48
Derivative Financial Instruments (Derivative Instruments With Credit Risk-Related Contingent Features) (Detail) $ in Millions | Jun. 30, 2017USD ($) | |
Derivative [Line Items] | ||
Aggregate Fair Value of Derivative Liabilities | $ 108 | [1] |
Cash Collateral Posted | 3 | |
Potential Aggregate Amount of Additional Collateral Required | 96 | [2] |
Union Electric Company | ||
Derivative [Line Items] | ||
Aggregate Fair Value of Derivative Liabilities | 65 | [1] |
Cash Collateral Posted | 3 | |
Potential Aggregate Amount of Additional Collateral Required | 59 | [2] |
Ameren Illinois Company | ||
Derivative [Line Items] | ||
Aggregate Fair Value of Derivative Liabilities | 43 | [1] |
Cash Collateral Posted | 0 | |
Potential Aggregate Amount of Additional Collateral Required | $ 37 | [2] |
[1] | Before consideration of master netting arrangements or similar agreements and including NPNS and other accrual contract exposures. | |
[2] | As collateral requirements with certain counterparties are based on master netting arrangements or similar agreements, the aggregate amount of additional collateral required to be posted is determined after consideration of the effects of such arrangements. |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Valuation Process And Unobservable Inputs) (Detail) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017USD ($)$ / credit$ / MMBTU$ / MWh$ / MW | Dec. 31, 2016USD ($)$ / credit$ / MMBTU$ / lb$ / MWh$ / MW | ||
Natural Gas | Discounted Cash Flow | Minimum | |||
Fair Value Inputs [Abstract] | |||
Counterparty credit risk | [1],[2] | 0.45% | 0.13% |
Nodal basis | [3] | (0.8) | (0.8) |
Credit risk | [1],[2] | 0.37% | 0.38% |
Natural Gas | Discounted Cash Flow | Maximum | |||
Fair Value Inputs [Abstract] | |||
Counterparty credit risk | [1],[2] | 6.00% | 8.00% |
Nodal basis | [3] | (0.1) | 0 |
Credit risk | [1],[2] | 0.37% | 0.38% |
Natural Gas | Discounted Cash Flow | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Counterparty credit risk | [1],[2] | 0.82% | 1.00% |
Nodal basis | [3] | (0.70) | (0.5) |
Credit risk | [1],[2] | 0.37% | 0.38% |
Natural Gas | Option Model | Minimum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 31.00% | |
Nodal basis | [3] | (0.40) | |
Natural Gas | Option Model | Maximum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 66.00% | |
Nodal basis | [3] | (0.1) | |
Natural Gas | Option Model | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 36.00% | |
Nodal basis | [3] | (0.20) | |
Natural Gas | Derivative Assets | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative assets | $ | [4] | $ 0 | $ 1 |
Natural Gas | Derivative Liabilities | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative liabilities | $ | [4] | $ (2) | $ (1) |
Fuel Oils | Discounted Cash Flow | Minimum | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[5] | 0.00% | (2.00%) |
Counterparty credit risk | [1],[2] | 0.22% | 0.13% |
Credit risk | [1],[2] | 0.37% | 0.38% |
Fuel Oils | Discounted Cash Flow | Maximum | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[5] | 1.00% | 2.00% |
Counterparty credit risk | [1],[2] | 0.22% | 0.22% |
Credit risk | [1],[2] | 0.37% | 0.38% |
Fuel Oils | Discounted Cash Flow | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[5] | 0.00% | 0.00% |
Counterparty credit risk | [1],[2] | 0.22% | 0.15% |
Credit risk | [1],[2] | 0.37% | 0.38% |
Fuel Oils | Option Model | Minimum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 26.00% | 24.00% |
Fuel Oils | Option Model | Maximum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 36.00% | 66.00% |
Fuel Oils | Option Model | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 27.00% | 28.00% |
Fuel Oils | Derivative Assets | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative assets | $ | [4] | $ 1 | $ 1 |
Fuel Oils | Derivative Liabilities | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative liabilities | $ | [4] | $ (2) | $ 0 |
Power | Discounted Cash Flow | Minimum | |||
Fair Value Inputs [Abstract] | |||
Nodal basis | $ / MWh | [6] | (3) | (6) |
Credit risk | [1],[2] | 0.37% | 0.38% |
Average forward peak and off-peak pricing | $ / MWh | [6] | 25 | 26 |
Estimated auction price | $ / MW | [3] | (730) | (71) |
Power | Discounted Cash Flow | Maximum | |||
Fair Value Inputs [Abstract] | |||
Nodal basis | $ / MWh | [6] | 0 | 0 |
Credit risk | [1],[2] | 0.37% | 0.38% |
Average forward peak and off-peak pricing | $ / MWh | [6] | 42 | 44 |
Estimated auction price | $ / MW | [3] | 1,398 | 5,270 |
Power | Discounted Cash Flow | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Nodal basis | $ / MWh | [6] | (2) | (2) |
Credit risk | [1],[2] | 0.37% | 0.38% |
Average forward peak and off-peak pricing | $ / MWh | [6] | 29 | 29 |
Estimated auction price | $ / MW | [3] | 284 | 125 |
Power | Fundamental Energy Production Model | Minimum | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[7] | 3.00% | 5.00% |
Estimated future gas prices | [3] | 3 | 3 |
Power | Fundamental Energy Production Model | Maximum | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[7] | 3.00% | 5.00% |
Estimated future gas prices | [3] | 4 | 4 |
Power | Fundamental Energy Production Model | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Escalation rate | [3],[7] | 3.00% | 5.00% |
Estimated future gas prices | [3] | 3 | 3 |
Power | Contract Price Allocation | Minimum | |||
Fair Value Inputs [Abstract] | |||
Estimated renewable energy credit costs | $ / credit | [3] | 5 | 5 |
Power | Contract Price Allocation | Maximum | |||
Fair Value Inputs [Abstract] | |||
Estimated renewable energy credit costs | $ / credit | [3] | 7 | 7 |
Power | Contract Price Allocation | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Estimated renewable energy credit costs | $ / credit | [3] | 6 | 6 |
Power | Derivative Assets | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative assets | $ | [4],[8] | $ 15 | $ 9 |
Power | Derivative Liabilities | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative liabilities | $ | [4],[8] | $ (193) | $ (187) |
Uranium | Discounted Cash Flow | Minimum | |||
Fair Value Inputs [Abstract] | |||
Credit risk | [1],[2] | 0.38% | |
Average forward pricing | $ / lb | [3] | 22 | |
Uranium | Discounted Cash Flow | Maximum | |||
Fair Value Inputs [Abstract] | |||
Credit risk | [1],[2] | 0.38% | |
Average forward pricing | $ / lb | [3] | 24 | |
Uranium | Discounted Cash Flow | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Credit risk | [1],[2] | 0.38% | |
Average forward pricing | $ / lb | [3] | 22 | |
Uranium | Option Model | Minimum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 24.00% | |
Uranium | Option Model | Maximum | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 24.00% | |
Uranium | Option Model | Weighted Average | |||
Fair Value Inputs [Abstract] | |||
Volatilities | [3] | 24.00% | |
Uranium | Derivative Assets | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative assets | $ | [4] | $ 0 | |
Uranium | Derivative Liabilities | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative liabilities | $ | [4] | $ (4) | |
[1] | Counterparty credit risk is applied only to counterparties with derivative asset balances. Ameren Missouri and Ameren Illinois credit risk is applied only to counterparties with derivative liability balances. | ||
[2] | Generally, significant increases (decreases) in this input in isolation would result in a significantly lower (higher) fair value measurement. | ||
[3] | Generally, significant increases (decreases) in this input in isolation would result in a significantly higher (lower) fair value measurement. | ||
[4] | The derivative asset and liability balances are presented net of counterparty credit considerations. | ||
[5] | Escalation rate applies to fuel oil prices 2019 and beyond | ||
[6] | The balance at Ameren is comprised of Ameren Missouri and Ameren Illinois power contracts, which respond differently to unobservable input changes due to their opposing positions. | ||
[7] | Escalation rate applies to power prices in 2031 and beyond. | ||
[8] | Power valuations use visible third-party pricing evaluated by month for peak and off-peak demand through 2021 for June 30, 2017 and through 2020 for December 31, 2016. Valuations beyond 2021 for June 30, 2017 and 2020 for December 31, 2016 use fundamentally modeled pricing by month for peak and off-peak demand. |
Fair Value Measurements (Sche50
Fair Value Measurements (Schedule Of Fair Value Hierarchy Of Assets And Liabilities Measured At Fair Value On Recurring Basis) (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | $ 649 | [1] | $ 605 | [2] | |
Assets fair value | 667 | [3] | 632 | [4] | |
Excluded receivables, payables, and accrued income, net | 2 | 2 | |||
Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 649 | [1] | 605 | [2] | |
Assets fair value | 665 | [3] | 619 | [4] | |
Excluded receivables, payables, and accrued income, net | 2 | (1) | |||
Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 18 | [3] | 27 | [4] | |
Derivative liabilities | 221 | [3] | 211 | [4] | |
Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 16 | [3] | 14 | [4] | |
Derivative liabilities | 14 | [3] | 18 | [4] | |
Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 207 | [3] | 193 | [4] | |
Cash and cash equivalents | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 2 | 1 | |||
Cash and cash equivalents | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 2 | 1 | |||
Equity Securities | U.S. large capitalization | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 426 | 408 | |||
Equity Securities | U.S. large capitalization | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 426 | 408 | |||
Debt Securities | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 83 | 67 | |||
Debt Securities | Corporate bonds | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 83 | 67 | |||
Debt Securities | US treasury and government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 115 | 112 | |||
Debt Securities | US treasury and government securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 115 | 112 | |||
Debt Securities | Other Debt Securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 23 | 17 | |||
Debt Securities | Other Debt Securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 23 | 17 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 428 | 409 | |||
Assets fair value | 429 | [3] | 413 | [4] | |
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 428 | 409 | |||
Assets fair value | 428 | [3] | 411 | [4] | |
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 4 | [4] | |
Derivative liabilities | 4 | [3] | 5 | [4] | |
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 2 | [4] | |
Derivative liabilities | 4 | [3] | 5 | [4] | |
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 0 | [3] | 0 | [4] | |
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Cash and cash equivalents | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 2 | 1 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Cash and cash equivalents | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 2 | 1 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Equity Securities | U.S. large capitalization | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 426 | 408 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Equity Securities | U.S. large capitalization | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 426 | 408 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | Corporate bonds | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | US treasury and government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | US treasury and government securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | Other Debt Securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Debt Securities | Other Debt Securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Observable Inputs (Level 2) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 221 | 196 | |||
Assets fair value | 222 | [3] | 208 | [4] | |
Significant Other Observable Inputs (Level 2) | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 221 | 196 | |||
Assets fair value | 221 | [3] | 197 | [4] | |
Significant Other Observable Inputs (Level 2) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 12 | [4] | |
Derivative liabilities | 20 | [3] | 14 | [4] | |
Significant Other Observable Inputs (Level 2) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 1 | [4] | |
Derivative liabilities | 7 | [3] | 7 | [4] | |
Significant Other Observable Inputs (Level 2) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 13 | [3] | 7 | [4] | |
Significant Other Observable Inputs (Level 2) | Cash and cash equivalents | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Observable Inputs (Level 2) | Cash and cash equivalents | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Observable Inputs (Level 2) | Equity Securities | U.S. large capitalization | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Observable Inputs (Level 2) | Equity Securities | U.S. large capitalization | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 83 | 67 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | Corporate bonds | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 83 | 67 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | US treasury and government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 115 | 112 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | US treasury and government securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 115 | 112 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | Other Debt Securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 23 | 17 | |||
Significant Other Observable Inputs (Level 2) | Debt Securities | Other Debt Securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 23 | 17 | |||
Significant Other Unobservable Inputs (Level 3) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Assets fair value | 16 | [3] | 11 | [4] | |
Significant Other Unobservable Inputs (Level 3) | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Assets fair value | 16 | [3] | 11 | [4] | |
Significant Other Unobservable Inputs (Level 3) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 16 | [3] | 11 | [4] | |
Derivative liabilities | 197 | [3] | 192 | [4] | |
Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 16 | [3] | 11 | [4] | |
Derivative liabilities | 3 | [3] | 6 | [4] | |
Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 194 | [3] | 186 | [4] | |
Significant Other Unobservable Inputs (Level 3) | Cash and cash equivalents | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Cash and cash equivalents | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Equity Securities | U.S. large capitalization | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Equity Securities | U.S. large capitalization | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | Corporate bonds | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | US treasury and government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | US treasury and government securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | Other Debt Securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Significant Other Unobservable Inputs (Level 3) | Debt Securities | Other Debt Securities | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Nuclear Decommissioning Trust Fund | 0 | 0 | |||
Uranium | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 4 | |||
Uranium | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 4 | |||
Uranium | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 0 | |||
Uranium | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 0 | |||
Uranium | Significant Other Observable Inputs (Level 2) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 0 | |||
Uranium | Significant Other Observable Inputs (Level 2) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 0 | |||
Uranium | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 4 | |||
Uranium | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | [4] | 4 | |||
Fuel Oils | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 3 | [4] | |
Derivative liabilities | 6 | [3] | 5 | [4] | |
Fuel Oils | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 3 | [4] | |
Derivative liabilities | 6 | [3] | 5 | [4] | |
Fuel Oils | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 2 | [4] | |
Derivative liabilities | 4 | [3] | 5 | [4] | |
Fuel Oils | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 2 | [4] | |
Derivative liabilities | 4 | [3] | 5 | [4] | |
Fuel Oils | Significant Other Observable Inputs (Level 2) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Fuel Oils | Significant Other Observable Inputs (Level 2) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Fuel Oils | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 1 | [4] | |
Derivative liabilities | 2 | [3] | 0 | [4] | |
Fuel Oils | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 1 | [4] | |
Derivative liabilities | 2 | [3] | 0 | [4] | |
Power | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 15 | [3] | 9 | [4] | |
Derivative liabilities | 193 | [3] | 188 | [4] | |
Power | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 15 | [3] | 9 | [4] | |
Derivative liabilities | 1 | [3] | 3 | [4] | |
Power | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 192 | [3] | 185 | [4] | |
Power | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Power | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Power | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 0 | [3] | 0 | [4] | |
Power | Significant Other Observable Inputs (Level 2) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 1 | [4] | |
Power | Significant Other Observable Inputs (Level 2) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | 0 | [3] | 1 | [4] | |
Power | Significant Other Observable Inputs (Level 2) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 0 | [3] | 0 | [4] | |
Power | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 15 | [3] | 9 | [4] | |
Derivative liabilities | 193 | [3] | 187 | [4] | |
Power | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 15 | [3] | 9 | [4] | |
Derivative liabilities | 1 | [3] | 2 | [4] | |
Power | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative liabilities | 192 | [3] | 185 | [4] | |
Natural Gas | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 2 | [3] | 15 | [4] | |
Derivative liabilities | 22 | [3] | 14 | [4] | |
Natural Gas | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | [4] | 2 | |||
Derivative liabilities | 7 | [3] | 6 | [4] | |
Natural Gas | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 2 | [3] | 13 | [4] | |
Derivative liabilities | 15 | [3] | 8 | [4] | |
Natural Gas | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 2 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Natural Gas | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | [4] | 0 | |||
Derivative liabilities | 0 | [3] | 0 | [4] | |
Natural Gas | Quoted Prices In Active Markets For Identical Assets or Liabilities (Level 1) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 2 | [4] | |
Derivative liabilities | 0 | [3] | 0 | [4] | |
Natural Gas | Significant Other Observable Inputs (Level 2) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 12 | [4] | |
Derivative liabilities | 20 | [3] | 13 | [4] | |
Natural Gas | Significant Other Observable Inputs (Level 2) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | [4] | 1 | |||
Derivative liabilities | 7 | [3] | 6 | [4] | |
Natural Gas | Significant Other Observable Inputs (Level 2) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 1 | [3] | 11 | [4] | |
Derivative liabilities | 13 | [3] | 7 | [4] | |
Natural Gas | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 1 | [4] | |
Derivative liabilities | 2 | [3] | 1 | [4] | |
Natural Gas | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Union Electric Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | [4] | 1 | |||
Derivative liabilities | 0 | [3] | 0 | [4] | |
Natural Gas | Significant Other Unobservable Inputs (Level 3) | Commodity Contract | Ameren Illinois Company | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Derivative assets | 0 | [3] | 0 | [4] | |
Derivative liabilities | $ 2 | [3] | $ 1 | [4] | |
[1] | Balance excludes $2 million of receivables, payables, and accrued income, net. | ||||
[2] | Balance excludes $2 million of receivables, payables, and accrued income, net. | ||||
[3] | The derivative asset and liability balances are presented net of counterparty credit considerations. | ||||
[4] | The derivative asset and liability balances are presented net of counterparty credit considerations. |
Fair Value Measurements (Sche51
Fair Value Measurements (Schedule Of Changes In The Fair Value Of Financial Assets And Liabilities Classified As Level Three In The Fair Value Hierarchy) (Detail) - Power - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | $ (178) | $ (155) | $ (178) | $ (155) | $ (190) | $ (178) | $ (181) | $ (154) |
Included in regulatory assets/liabilities | (2) | 13 | (12) | (11) | ||||
Purchases | 15 | 13 | 15 | 13 | ||||
Settlements | (1) | 0 | (3) | (3) | ||||
Change in unrealized gains (losses) related to assets/liabilities held at period end | (2) | 14 | (13) | (5) | ||||
Union Electric Company | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | 14 | 14 | 14 | 14 | 4 | 7 | 6 | 16 |
Included in regulatory assets/liabilities | (1) | (1) | (1) | (4) | ||||
Purchases | 15 | 13 | 15 | 13 | ||||
Settlements | (4) | (4) | (7) | (11) | ||||
Change in unrealized gains (losses) related to assets/liabilities held at period end | 0 | 0 | 0 | 0 | ||||
Ameren Illinois Company | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | (192) | (169) | (192) | (169) | $ (194) | $ (185) | $ (187) | $ (170) |
Included in regulatory assets/liabilities | (1) | 14 | (11) | (7) | ||||
Purchases | 0 | 0 | 0 | 0 | ||||
Settlements | 3 | 4 | 4 | 8 | ||||
Change in unrealized gains (losses) related to assets/liabilities held at period end | $ (2) | $ 14 | $ (13) | $ (5) |
Fair Value Measurements (Sche52
Fair Value Measurements (Schedule Of Carrying Amounts And Estimated Fair Values Of Long-Term Debt And Preferred Stock) (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | [1] | $ 7,942 | $ 7,772 |
Preferred stock | [1] | 131 | 131 |
Fair Value | Union Electric Company | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | 4,310 | 4,304 | |
Preferred stock | 79 | 79 | |
Fair Value | Ameren Illinois Company | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | 2,773 | 2,765 | |
Preferred stock | 52 | 52 | |
Carrying Amount | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | [1] | 7,399 | 7,276 |
Preferred stock | [1] | 142 | 142 |
Carrying Amount | Union Electric Company | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | 3,966 | 3,994 | |
Preferred stock | 80 | 80 | |
Carrying Amount | Ameren Illinois Company | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt (including current portion) | 2,589 | 2,588 | |
Preferred stock | $ 62 | $ 62 | |
[1] | Preferred stock is recorded in “Noncontrolling Interests” on the consolidated balance sheet. |
Related Party Transactions (Sch
Related Party Transactions (Schedule of Related Party Transactions) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | $ 0 | $ 0 | $ 0 | $ 0 | |||
Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 0 | 0 | 0 | ||||
Purchased Power | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Expenses | 7 | 4 | 18 | 13 | |||
Ameren Missouri Power Supply Agreements with Ameren Illinois | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 6 | 3 | 17 | 12 | |||
Ameren Missouri and Ameren Illinois Rent and Facility Services | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 6 | 7 | 13 | 13 | |||
Ameren Missouri and Ameren Illinois Rent and Facility Services | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 1 | 1 | 2 | 2 | |||
Ameren Missouri and Ameren Illinois miscellaneous support services [Member] | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | [1] | 1 | 1 | 1 | 1 | ||
Ameren Missouri and Ameren Illinois miscellaneous support services [Member] | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 1 | 1 | [1] | 1 | 1 | [1] | |
Total Related Party Operating Revenues [Member] | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 12 | 10 | 30 | 25 | |||
Total Related Party Operating Revenues [Member] | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Revenues | 2 | 1 | 3 | 2 | |||
Ameren Illinois Power Supply Agreements with Ameren Missouri | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Expenses | 6 | 3 | 17 | 12 | |||
Ameren Illinois Transmission Agreements with ATXI | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Expenses | 1 | 1 | 1 | 1 | |||
Ameren Services Support Services Agreement | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Expenses | 34 | 32 | 69 | 66 | |||
Ameren Services Support Services Agreement | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Operating Expenses | 34 | 30 | 66 | 61 | |||
Related Party Money Pool Interest | Union Electric Company | |||||||
Related Party Transaction [Line Items] | |||||||
Interest Charges | [1] | 1 | 1 | 1 | 1 | ||
Related Party Money Pool Interest | Ameren Illinois Company | |||||||
Related Party Transaction [Line Items] | |||||||
Interest Charges | [1] | $ 1 | $ 1 | $ 1 | $ 1 | ||
[1] | Amount less than $1 million. |
Related Party Transactions Narr
Related Party Transactions Narrative (Details) - April 2017 Procurement [Member] - Ameren Illinois Company - Ameren Illinois Power Supply Agreements with Ameren Missouri | 6 Months Ended |
Jun. 30, 2017MWh$ / MWh | |
Related Party Transaction [Line Items] | |
Long-term Contract for Purchase of Electric Power, Related Party Contract, Fixed Power | MWh | 85,600 |
Long-term Contract for Purchase of Electric Power, Related Party Contract, Fixed Power, Rate | $ / MWh | 34 |
Commitments And Contingencies (
Commitments And Contingencies (Other Obligations) (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($)MWh | |
Long-term Purchase Commitment [Line Items] | |
Total Other Obligations | $ 3,655 |
Union Electric Company | |
Long-term Purchase Commitment [Line Items] | |
Total Other Obligations | 2,145 |
Ameren Illinois Company | |
Long-term Purchase Commitment [Line Items] | |
Total Other Obligations | $ 1,444 |
April 2017 Procurement [Member] | Ameren Illinois Company | |
Long-term Purchase Commitment [Line Items] | |
Amount of Megawatthours | MWh | 4,249,800 |
Long-term Purchase Commitment, Amount | $ 128 |
Commitments And Contingencies56
Commitments And Contingencies (Environmental Matters) (Detail) $ in Millions | Jun. 30, 2017USD ($)scrubbersite | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Percentage of Rate Base Related to Carbon Dioxide Energy Centers | 18.00% | |
Minimum | ||
Loss Contingencies [Line Items] | ||
Estimated capital costs to comply with existing and known federal and state air emissions regulations | $ 425 | |
Maximum | ||
Loss Contingencies [Line Items] | ||
Estimated capital costs to comply with existing and known federal and state air emissions regulations | $ 525 | |
Union Electric Company | ||
Loss Contingencies [Line Items] | ||
Percentage of Rate Base Related to Carbon Dioxide Energy Centers | 34.00% | |
Number of Energy Center Scrubbers | scrubber | 2 | |
Manufactured Gas Plant | ||
Loss Contingencies [Line Items] | ||
Accrual for environmental loss contingencies | $ 188 | |
Manufactured Gas Plant | Ameren Illinois Company | ||
Loss Contingencies [Line Items] | ||
Number of remediation sites | site | 44 | |
Accrual for environmental loss contingencies | $ 188 | |
Manufactured Gas Plant | Ameren Illinois Company | Minimum | ||
Loss Contingencies [Line Items] | ||
Estimate of possible loss | 188 | |
Manufactured Gas Plant | Ameren Illinois Company | Maximum | ||
Loss Contingencies [Line Items] | ||
Estimate of possible loss | 256 | |
Sauget Area Two | Union Electric Company | ||
Loss Contingencies [Line Items] | ||
Accrual for environmental loss contingencies | 1 | |
Sauget Area Two | Union Electric Company | Minimum | ||
Loss Contingencies [Line Items] | ||
Estimate of possible loss | 1 | |
Sauget Area Two | Union Electric Company | Maximum | ||
Loss Contingencies [Line Items] | ||
Estimate of possible loss | $ 2.5 |
Callaway Energy Center (Narrati
Callaway Energy Center (Narrative) (Detail) - Nuclear Plant $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($)mill | |
Nuclear Waste Matters [Line Items] | |
Number of mills charged for NWF fee | mill | 1 |
Annual decommissioning costs included in costs of service | $ | $ 7 |
Callaway Energy Center (Insuran
Callaway Energy Center (Insurance Disclosure) (Detail) € in Millions | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2017EUR (€) | ||
Nuclear Waste Matters [Line Items] | |||
Number of weeks of coverage after the first eight weeks of an outage | 1 year | 1 year | |
Threshold for which a retrospective assessment for a covered loss is necessary | $ 450,000,000 | ||
Annual payment in the event of an incident at any licensed commercial reactor | 19,000,000 | ||
Amount of weekly indemnity coverage commencing eight weeks after power outage | 4,500,000 | ||
Amount of additional weekly indemnity coverage commencing after initial indemnity coverage | $ 3,600,000 | ||
Inflationary adjustment prescribed by most recent Price-Anderson Act renewal, in years | 5 years | 5 years | |
Aggregate nuclear power industry insurance policy limit for losses from terrorist attacks within twelve month period | $ 3,200,000,000 | € 600 | |
Number Of Additional Weeks After Initial Indemnity Coverage For Power Outage | 1 year 4 months 10 days | 1 year 4 months 10 days | |
Public Liability And Nuclear Worker Liability - American Nuclear Insurers | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | $ 450,000,000 | ||
Maximum Assessments for Single Incidents | 0 | ||
Public Liability And Nuclear Worker Liability - Pool Participation | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 12,986,000,000 | [1] | |
Maximum Assessments for Single Incidents | 127,000,000 | [2] | |
Public Liability | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 13,436,000,000 | [3] | |
Maximum Assessments for Single Incidents | 127,000,000 | ||
Property Damage - Nuclear Electric Insurance Ltd | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 3,200,000,000 | [4] | |
Maximum Assessments for Single Incidents | 29,000,000 | [5] | |
Replacement Power - Nuclear Electric Insurance Ltd | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 490,000,000 | [6] | |
Maximum Assessments for Single Incidents | 7,000,000 | [5] | |
Amount of weekly indemnity coverage thereafter not exceeding policy limit | 490,000,000 | ||
Sub-limit of for non-nuclear events | 328,000,000 | ||
Property Damage European Mutual Association for Nuclear Insurance | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 490,000,000 | ||
Radiation Event | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 2,700,000,000 | ||
Non-radiation event | |||
Nuclear Waste Matters [Line Items] | |||
Maximum Coverages | 2,300,000,000 | ||
Aggregate nuclear power industry insurance policy limit for losses from terrorist attacks within twelve month period | $ 1,800,000,000 | ||
[1] | Provided through mandatory participation in an industrywide retrospective premium assessment program. | ||
[2] | Retrospective premium under the Price-Anderson Act. This is subject to retrospective assessment with respect to a covered loss in excess of $450 million in the event of an incident at any licensed United States commercial reactor, payable at $19 million per year. | ||
[3] | Limit of liability for each incident under the Price-Anderson liability provisions of the Atomic Energy Act of 1954, as amended. This limit is subject to change to account for the effects of inflation and changes in the number of licensed reactors. | ||
[4] | NEIL provides $2.7 billion in property damage, stabilization, decontamination, and premature decommissioning insurance for radiation events and $2.3 billion in property damage for nonradiation events. EMANI provides $490 million for both radiation and nonradiation events. | ||
[5] | All NEIL insured plants could be subject to assessments should losses exceed the accumulated funds from NEIL. | ||
[6] | Provides replacement power cost insurance in the event of a prolonged accidental outage. Weekly indemnity up to $4.5 million for 52 weeks, which commences after the first twelve weeks of an outage, plus up to $3.6 million per week for a minimum of 71 weeks thereafter for a total not exceeding the policy limit of $490 million. Nonradiation events are limited to $328 million. |
Retirement Benefits (Components
Retirement Benefits (Components Of Net Periodic Benefit Cost) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service cost | $ 23 | $ 20 | $ 46 | $ 40 | |
Interest cost | 45 | 45 | 90 | 92 | |
Expected return on plan assets | (65) | (63) | (131) | (126) | |
Prior service cost (benefit) | 0 | 0 | 0 | 0 | |
Actuarial loss | 13 | 7 | 27 | 16 | |
Net periodic benefit cost | [1],[2] | 16 | 9 | 32 | 22 |
Other Postretirement Benefit Plan, Defined Benefit | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Service cost | 5 | 5 | 10 | 10 | |
Interest cost | 11 | 12 | 23 | 24 | |
Expected return on plan assets | (18) | (18) | (37) | (36) | |
Prior service cost (benefit) | (1) | (1) | (2) | (2) | |
Actuarial loss | (1) | (2) | (3) | (5) | |
Net periodic benefit cost | [1],[2] | (4) | (4) | (9) | (9) |
Union Electric Company | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost | [1] | 6 | 5 | 12 | 13 |
Union Electric Company | Other Postretirement Benefit Plan, Defined Benefit | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost | [1] | (1) | (1) | (2) | (2) |
Ameren Illinois Company | Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost | 10 | 6 | 20 | 11 | |
Ameren Illinois Company | Other Postretirement Benefit Plan, Defined Benefit | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Net periodic benefit cost | $ (3) | $ (3) | $ (7) | $ (7) | |
[1] | (a)Does not include the impact of the regulatory tracking mechanism for the difference between the level of pension and postretirement benefit costs incurred by Ameren Missouri under GAAP and the level of such costs included in rates | ||||
[2] | (b)Includes amounts for Ameren registrants and nonregistrant subsidiaries. |
Retirement Benefits (Summary Of
Retirement Benefits (Summary Of Benefit Plan Costs Incurred) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Pension Plan | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | [1],[2] | $ 16 | $ 9 | $ 32 | $ 22 |
Pension Plan | Union Electric Company | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | [1] | 6 | 5 | 12 | 13 |
Pension Plan | Ameren Illinois Company | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | 10 | 6 | 20 | 11 | |
Pension Plan | Other Affiliated Entities and Intercompany Eliminations [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | 0 | (2) | 0 | (2) | |
Other Postretirement Benefit Plan, Defined Benefit | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | [1],[2] | (4) | (4) | (9) | (9) |
Other Postretirement Benefit Plan, Defined Benefit | Union Electric Company | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | [1] | (1) | (1) | (2) | (2) |
Other Postretirement Benefit Plan, Defined Benefit | Ameren Illinois Company | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | (3) | (3) | (7) | (7) | |
Other Postretirement Benefit Plan, Defined Benefit | Other Affiliated Entities and Intercompany Eliminations [Member] | |||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost | $ 0 | $ 0 | $ 0 | $ 0 | |
[1] | (a)Does not include the impact of the regulatory tracking mechanism for the difference between the level of pension and postretirement benefit costs incurred by Ameren Missouri under GAAP and the level of such costs included in rates | ||||
[2] | (b)Includes amounts for Ameren registrants and nonregistrant subsidiaries. |
Segment Information (Schedule O
Segment Information (Schedule Of Segment Reporting Information By Segment) (Detail) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)segment | Jun. 30, 2016USD ($) | ||
Segment Reporting Information [Line Items] | |||||
Number of Reportable Segments | segment | 4 | ||||
External revenues | $ 1,538 | $ 1,427 | $ 3,052 | $ 2,861 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Net Income Attributable to Ameren Common Shareholders | 193 | 147 | 295 | 252 | |
Capital expenditures | 494 | 504 | $ 998 | 1,000 | |
Union Electric Company | |||||
Segment Reporting Information [Line Items] | |||||
Number of Reportable Segments | segment | 1 | ||||
Ameren Illinois Company | |||||
Segment Reporting Information [Line Items] | |||||
Number of Reportable Segments | segment | 3 | ||||
Ameren Illinois Company | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 576 | 542 | $ 1,279 | 1,219 | |
Intersegment revenues | 0 | 0 | 0 | ||
Net Income Available to Common Shareholder | 57 | 45 | 136 | 104 | |
Capital expenditures | 257 | 231 | 484 | 442 | |
Intersegment Eliminations | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 0 | 0 | 0 | 0 | |
Intersegment revenues | (27) | (22) | (52) | (49) | |
Net Income Available to Common Shareholder | 0 | 0 | 0 | 0 | |
Capital expenditures | (2) | 0 | (3) | 0 | |
Intersegment Eliminations | Ameren Illinois Company | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 0 | 0 | 0 | ||
Intersegment revenues | (12) | (10) | (18) | (21) | |
Net Income Available to Common Shareholder | 0 | 0 | 0 | ||
Capital expenditures | 0 | 0 | 0 | ||
Operating Segments [Member] | Union Electric Company | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 923 | 857 | 1,695 | 1,583 | |
Intersegment revenues | 12 | 10 | 30 | 25 | |
Net Income Available to Common Shareholder | 120 | 92 | 125 | 106 | |
Capital expenditures | 159 | 175 | 355 | 353 | |
Operating Segments [Member] | Ameren Illinois Electric Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 387 | 357 | 771 | 708 | |
Intersegment revenues | 2 | 1 | 3 | 2 | |
Net Income Available to Common Shareholder | 33 | 18 | 63 | 29 | |
Capital expenditures | 122 | 119 | 242 | 236 | |
Operating Segments [Member] | Ameren Illinois Gas [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 134 | 131 | 398 | 416 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Net Income Available to Common Shareholder | 5 | 7 | 38 | 42 | |
Capital expenditures | 58 | 45 | 109 | 80 | |
Operating Segments [Member] | Ameren Transmission [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 92 | 81 | 188 | 153 | |
Intersegment revenues | [1] | 13 | 11 | 19 | 22 |
Net Income Available to Common Shareholder | [2] | 34 | 32 | 68 | 59 |
Capital expenditures | 156 | 164 | 290 | 328 | |
Operating Segments [Member] | Other | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 2 | 1 | 0 | 1 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Net Income Available to Common Shareholder | 1 | (2) | 1 | 16 | |
Capital expenditures | 1 | 1 | 5 | 3 | |
Operating Segments [Member] | Ameren Illinois Company | Ameren Illinois Electric Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 389 | 358 | 774 | 710 | |
Intersegment revenues | 0 | 0 | 0 | ||
Net Income Available to Common Shareholder | 33 | 18 | 63 | 29 | |
Capital expenditures | 122 | 119 | 242 | 236 | |
Operating Segments [Member] | Ameren Illinois Company | Ameren Illinois Gas [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 134 | 131 | 398 | 416 | |
Intersegment revenues | 0 | 0 | 0 | ||
Net Income Available to Common Shareholder | 5 | 7 | 38 | 42 | |
Capital expenditures | 58 | 45 | 109 | 80 | |
Operating Segments [Member] | Ameren Illinois Company | Ameren Illinois Transmission [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External revenues | 53 | 53 | 107 | 93 | |
Intersegment revenues | [3] | 12 | 10 | 18 | 21 |
Net Income Available to Common Shareholder | 19 | 20 | 35 | 33 | |
Capital expenditures | $ 77 | $ 67 | $ 133 | $ 126 | |
[1] | (a)Ameren Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. | ||||
[2] | (b)Ameren Transmission earnings include an allocation of financing costs from Ameren (parent). | ||||
[3] | (a)Ameren Illinois Transmission earns revenue from transmission service provided to Ameren Illinois Electric Distribution. See discussion of transactions above. |