AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - February 16, 2018

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8-K - 8-K - AMEREN CORPq420178kearningsrelease.htm
EX-99.1 - EXHIBIT 99.1 - AMEREN CORPq42017exhibit991earningsre.htm
                                                

Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2017
 
2016
 
2017
 
2016
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,127

 
$
1,095

 
$
5,310

 
$
5,196

Natural gas
275

 
261

 
867

 
880

Total operating revenues
1,402

 
1,356

 
6,177

 
6,076

Operating Expenses:
 
 
 
 
 
 
 
Fuel
143

 
171

 
737

 
745

Purchased power
147

 
170

 
638

 
621

Natural gas purchased for resale
115

 
114

 
311

 
341

Other operations and maintenance
431

 
430

 
1,660

 
1,676

Depreciation and amortization
228

 
217

 
896

 
845

Taxes other than income taxes
113

 
109

 
477

 
467

Total operating expenses
1,177

 
1,211

 
4,719

 
4,695

Operating Income
225

 
145

 
1,458

 
1,381

Other Income and Expenses:
 
 
 
 
 
 
 
Miscellaneous income
17

 
20

 
59

 
74

Miscellaneous expense
5

 
11

 
21

 
32

Total other income
12

 
9

 
38

 
42

Interest Charges
96

 
95

 
391

 
382

Income Before Income Taxes
141

 
59

 
1,105

 
1,041

Income Taxes
200

 
26

 
576

 
382

Net Income (Loss)
(59
)
 
33

 
529

 
659

Less: Net Income Attributable to Noncontrolling Interests
1

 
1

 
6

 
6

Net Income (Loss) Attributable to Ameren Common Shareholders
$
(60
)
 
$
32

 
$
523

 
$
653

 
 
 
 
 
 
 
 
Earnings (Loss) per Common Share – Basic
$
(0.24
)
 
$
0.13

 
$
2.16

 
$
2.69

 
 
 
 
 
 
 
 
Earnings (Loss) per Common Share – Diluted
$
(0.24
)
 
$
0.13

 
$
2.14

 
$
2.68

 
 
 
 
 
 
 
 
Average Common Shares Outstanding – Basic
242.6

 
242.6

 
242.6

 
242.6

Average Common Shares Outstanding – Diluted
244.7

 
244.7

 
244.2

 
243.4



                                                

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
 
December 31, 2017
 
December 31, 2016
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
10

 
$
9

Accounts receivable - trade (less allowance for doubtful accounts)
445

 
437

Unbilled revenue
323

 
295

Miscellaneous accounts and notes receivable
70

 
63

Inventories
522

 
527

Current regulatory assets
144

 
149

Other current assets
98

 
113

Total current assets
1,612

 
1,593

Property, Plant, and Equipment, Net
21,466

 
20,113

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
704

 
607

Goodwill
411

 
411

Regulatory assets
1,230

 
1,437

Other assets
522

 
538

Total investments and other assets
2,867

 
2,993

TOTAL ASSETS
$
25,945

 
$
24,699

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
841

 
$
681

Short-term debt
484

 
558

Accounts and wages payable
902

 
805

Taxes accrued
52

 
46

Interest accrued
99

 
93

Customer deposits
108

 
107

Current regulatory liabilities
128

 
110

Other current liabilities
326

 
274

Total current liabilities
2,940

 
2,674

Long-term Debt, Net
7,094

 
6,595

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
2,506

 
4,264

Accumulated deferred investment tax credits
49

 
55

Regulatory liabilities
4,387

 
1,985

Asset retirement obligations
638

 
635

Pension and other postretirement benefits
545

 
769

Other deferred credits and liabilities
460

 
477

Total deferred credits and other liabilities
8,585

 
8,185

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,540

 
5,556

Retained earnings
1,660

 
1,568

Accumulated other comprehensive loss
(18
)
 
(23
)
Total Ameren Corporation shareholders’ equity
7,184

 
7,103

Noncontrolling Interests
142

 
142

Total equity
7,326

 
7,245

TOTAL LIABILITIES AND EQUITY
$
25,945

 
$
24,699



                                                

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Year Ended December 31,
 
2017
 
2016
Cash Flows From Operating Activities:
 
 
 
Net income
$
529

 
$
659

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
876

 
835

Amortization of nuclear fuel
76

 
88

Amortization of debt issuance costs and premium/discounts
22

 
22

Deferred income taxes and investment tax credits, net
539

 
386

Allowance for equity funds used during construction
(24
)
 
(27
)
Share-based compensation costs
17

 
17

Other
(10
)
 
4

Changes in assets and liabilities
79

 
140

Net cash provided by operating activities – continuing operations
2,104

 
2,124

Net cash used in operating activities – discontinued operations
—

 
(1
)
Net cash provided by operating activities
2,104

 
2,123

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(2,132
)
 
(2,076
)
Nuclear fuel expenditures
(63
)
 
(55
)
Purchases of securities – nuclear decommissioning trust fund
(413
)
 
(392
)
Sales and maturities of securities – nuclear decommissioning trust fund
396

 
377

Other
7

 
5

Net cash used in investing activities
(2,205
)
 
(2,141
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(431
)
 
(416
)
Dividends paid to noncontrolling interest holders
(6
)
 
(6
)
Short-term debt, net
(74
)
 
257

Maturities of long-term debt
(681
)
 
(395
)
Issuances of long-term debt
1,345

 
389

Debt issuance costs
(11
)
 
(9
)
Share-based payments
(39
)
 
(83
)
Other
(1
)
 
(2
)
Net cash provided by (used in) financing activities
102

 
(265
)
Net change in cash and cash equivalents
1

 
(283
)
Cash and cash equivalents at beginning of year
9

 
292

Cash and cash equivalents at end of year
$
10

 
$
9




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