AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - February 26, 2020

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EX-99.1 - EXHIBIT 99.1 - AMEREN CORPq42019exhibit991earnin.htm
8-K - 8-K - AMEREN CORPq420198kearningsrelease.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,
 
2019
 
2018
 
2019
 
2018
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,053

 
$
1,130

 
$
4,981

 
$
5,339

Natural gas
263

 
289

 
929

 
952

Total operating revenues
1,316

 
1,419

 
5,910

 
6,291

Operating Expenses:
 
 
 
 
 
 
 
Fuel
126

 
179

 
535

 
769

Purchased power
116

 
128

 
556

 
581

Natural gas purchased for resale
95

 
122

 
331

 
374

Other operations and maintenance
444

 
473

 
1,745

 
1,772

Depreciation and amortization
250

 
242

 
995

 
955

Taxes other than income taxes
106

 
109

 
481

 
483

Total operating expenses
1,137

 
1,253

 
4,643

 
4,934

Operating Income
179

 
166

 
1,267

 
1,357

Other Income, Net
31

 
18

 
130

 
102

Interest Charges
91

 
99

 
381

 
401

Income Before Income Taxes
119

 
85

 
1,016

 
1,058

Income Taxes
24

 
16

 
182

 
237

Net Income
95

 
69

 
834

 
821

Less: Net Income Attributable to Noncontrolling Interests
1

 
1

 
6

 
6

Net Income Attributable to Ameren Common Shareholders
$
94

 
$
68

 
$
828

 
$
815

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
0.38

 
$
0.28

 
$
3.37

 
$
3.34

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
0.38

 
$
0.28

 
$
3.35

 
$
3.32

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
246.0

 
244.3

 
245.6

 
243.8

Weighted-average Common Shares Outstanding – Diluted
247.5

 
246.8

 
247.1

 
245.8



                                                

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
 
December 31, 2019
 
December 31, 2018
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
16

 
$
16

Accounts receivable - trade (less allowance for doubtful accounts)
393

 
463

Unbilled revenue
278

 
295

Miscellaneous accounts receivable
63

 
79

Inventories
494

 
483

Current regulatory assets
69

 
134

Other current assets
118

 
63

Total current assets
1,431

 
1,533

Property, Plant, and Equipment, Net
24,376

 
22,810

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
847

 
684

Goodwill
411

 
411

Regulatory assets
992

 
1,127

Other assets
876

 
650

Total investments and other assets
3,126

 
2,872

TOTAL ASSETS
$
28,933

 
$
27,215

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
442

 
$
580

Short-term debt
440

 
597

Accounts and wages payable
874

 
817

Current regulatory liabilities
164

 
149

Other current liabilities
585

 
544

Total current liabilities
2,505

 
2,687

Long-term Debt, Net
8,915

 
7,859

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes and investment tax credits, net
2,919

 
2,666

Regulatory liabilities
4,887

 
4,637

Asset retirement obligations
638

 
627

Pension and other postretirement benefits
401

 
558

Other deferred credits and liabilities
467

 
408

Total deferred credits and other liabilities
9,312

 
8,896

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,694

 
5,627

Retained earnings
2,380

 
2,024

Accumulated other comprehensive loss
(17
)
 
(22
)
Total Ameren Corporation shareholders’ equity
8,059

 
7,631

Noncontrolling Interests
142

 
142

Total equity
8,201

 
7,773

TOTAL LIABILITIES AND EQUITY
$
28,933

 
$
27,215



                                                

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Year Ended December 31,
 
2019
 
2018
Cash Flows From Operating Activities:
 
 
 
Net income
$
834

 
$
821

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
1,002

 
938

Amortization of nuclear fuel
79

 
95

Amortization of debt issuance costs and premium/discounts
19

 
20

Deferred income taxes and investment tax credits, net
167

 
224

Allowance for equity funds used during construction
(28
)
 
(36
)
Stock-based compensation costs
20

 
20

Other
(14
)
 
44

Changes in assets and liabilities
91

 
44

Net cash provided by operating activities
2,170

 
2,170

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(2,411
)
 
(2,286
)
Nuclear fuel expenditures
(31
)
 
(52
)
Purchases of securities – nuclear decommissioning trust fund
(256
)
 
(315
)
Sales and maturities of securities – nuclear decommissioning trust fund
260

 
299

Purchase of bonds
(207
)
 
—

Proceeds from sale of remarketed bonds
207

 
—

Other
3

 
18

Net cash used in investing activities
(2,435
)
 
(2,336
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(472
)
 
(451
)
Dividends paid to noncontrolling interest holders
(6
)
 
(6
)
Short-term debt, net
(157
)
 
112

Maturities of long-term debt
(580
)
 
(841
)
Issuances of long-term debt
1,527

 
1,352

Issuances of common stock
68

 
74

Employee payroll taxes related to stock-based compensation
(29
)
 
(19
)
Debt issuance costs
(17
)
 
(14
)
Other
—

 
(2
)
Net cash provided by financing activities
334

 
205

Net change in cash, cash equivalents, and restricted cash
69

 
39

Cash, cash equivalents, and restricted cash at beginning of year
107

 
68

Cash, cash equivalents, and restricted cash at end of year
$
176

 
$
107




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