AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - July 31, 2015

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EX-99.1 - EXHIBIT 99.1 - AMEREN CORPq22015exhibit991earningsre.htm


Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,250

 
$
1,235

 
$
2,393

 
$
2,341

Gas
151

 
184

 
564

 
672

Total operating revenues
1,401

 
1,419

 
2,957

 
3,013

Operating Expenses:
 
 
 
 
 
 
 
Fuel
205

 
198

 
411

 
402

Purchased power
101

 
112

 
240

 
226

Gas purchased for resale
46

 
79

 
282

 
383

Other operations and maintenance
427

 
411

 
828

 
829

Provision for Callaway construction and operating license
69

 
—

 
69

 
—

Depreciation and amortization
200

 
183

 
393

 
364

Taxes other than income taxes
116

 
114

 
241

 
241

Total operating expenses
1,164

 
1,097

 
2,464

 
2,445

Operating Income
237

 
322

 
493

 
568

Other Income and Expenses:
 
 
 
 
 
 
 
Miscellaneous income
16

 
21

 
35

 
39

Miscellaneous expense
6

 
4

 
17

 
13

Total other income
10

 
17

 
18

 
26

Interest Charges
89

 
89

 
177

 
181

Income Before Income Taxes
158

 
250

 
334

 
413

Income Taxes
59

 
99

 
125

 
163

Income from Continuing Operations
99

 
151

 
209

 
250

Income (Loss) from Discontinued Operations, Net of Taxes
52

 
(1
)
 
52

 
(2
)
Net Income
151

 
150

 
261

 
248

Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests
1

 
1

 
3

 
3

Net Income (Loss) Attributable to Ameren Corporation:
 
 
 
 
 
 
 
Continuing Operations
98

 
150

 
206

 
247

Discontinued Operations
52

 
(1
)
 
52

 
(2
)
Net Income Attributable to Ameren Corporation
$
150

 
$
149

 
$
258

 
$
245

Earnings (Loss) per Common Share – Basic and Diluted:
 
 
 
 
 
 
 
Continuing Operations
$
0.40

 
$
0.62

 
$
0.85

 
$
1.02

Discontinued Operations
0.21

 
(0.01
)
 
0.21

 
(0.01
)
Earnings per Common Share – Basic and Diluted
$
0.61

 
$
0.61

 
$
1.06

 
$
1.01

Average Common Shares Outstanding – Basic
242.6

 
242.6

 
242.6

 
242.6





AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
 
June 30, 2015
 
December 31, 2014
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
2

 
$
5

Accounts receivable - trade (less allowance for doubtful accounts)
456

 
423

Unbilled revenue
302

 
265

Miscellaneous accounts and notes receivable
112

 
81

Materials and supplies
500

 
524

Current regulatory assets
223

 
295

Current accumulated deferred income taxes, net
286

 
352

Other current assets
95

 
86

Assets of discontinued operations
15

 
15

Total current assets
1,991

 
2,046

Property and Plant, Net
17,986

 
17,424

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
555

 
549

Goodwill
411

 
411

Regulatory assets
1,560

 
1,582

Other assets
649

 
664

Total investments and other assets
3,175

 
3,206

TOTAL ASSETS
$
23,152

 
$
22,676

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
395

 
$
120

Short-term debt
886

 
714

Accounts and wages payable
486

 
711

Taxes accrued
126

 
46

Interest accrued
98

 
85

Current regulatory liabilities
120

 
106

Other current liabilities
413

 
434

Liabilities of discontinued operations
32

 
33

Total current liabilities
2,556

 
2,249

Long-term Debt, Net
5,981

 
6,120

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
3,931

 
3,923

Accumulated deferred investment tax credits
64

 
64

Regulatory liabilities
1,912

 
1,850

Asset retirement obligations
589

 
396

Pension and other postretirement benefits
689

 
705

Other deferred credits and liabilities
524

 
514

Total deferred credits and other liabilities
7,709

 
7,452

Ameren Corporation Stockholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,606

 
5,617

Retained earnings
1,161

 
1,103

Accumulated other comprehensive loss
(5
)
 
(9
)
Total Ameren Corporation stockholders’ equity
6,764

 
6,713

Noncontrolling Interests
142

 
142

Total equity
6,906

 
6,855

TOTAL LIABILITIES AND EQUITY
$
23,152

 
$
22,676





AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Six Months Ended June 30,
 
2015
 
2014
Cash Flows From Operating Activities:
 
 
 
Net income
$
261

 
$
248

(Income) loss from discontinued operations, net of taxes
(52
)
 
2

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Provision for Callaway construction and operating license
69

 
—

Depreciation and amortization
387

 
349

Amortization of nuclear fuel
47

 
47

Amortization of debt issuance costs and premium/discounts
11

 
11

Deferred income taxes and investment tax credits, net
116

 
178

Allowance for equity funds used during construction
(11
)
 
(16
)
Stock-based compensation costs
14

 
15

Other
(13
)
 
(8
)
Changes in assets and liabilities
(61
)
 
(168
)
Net cash provided by operating activities - continuing operations
768

 
658

Net cash used in operating activities - discontinued operations
(1
)
 
(4
)
Net cash provided by operating activities
767

 
654

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(846
)
 
(883
)
Nuclear fuel expenditures
(28
)
 
(26
)
Purchases of securities - nuclear decommissioning trust fund
(117
)
 
(290
)
Sales and maturities of securities - nuclear decommissioning trust fund
110

 
283

Proceeds from note receivable - Illinois Power Marketing Company
10

 
70

Contributions to note receivable - Illinois Power Marketing Company
(7
)
 
(78
)
Other
3

 
2

Net cash used in investing activities - continuing operations
(875
)
 
(922
)
Net cash provided by investing activities - discontinued operations
—

 
152

Net cash used in investing activities
(875
)
 
(770
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(199
)
 
(194
)
Dividends paid to noncontrolling interest holders
(3
)
 
(3
)
Short-term debt, net
172

 
425

Redemptions and maturities of long-term debt
(114
)
 
(692
)
Issuances of long-term debt
249

 
598

Capital issuance costs
(2
)
 
(4
)
Other
2

 
2

Net cash provided by financing activities - continuing operations
105

 
132

Net cash used in financing activities - discontinued operations
—

 
—

Net cash provided by financing activities
105

 
132

Net change in cash and cash equivalents
(3
)
 
16

Cash and cash equivalents at beginning of year
5

 
30

Cash and cash equivalents at end of period
$
2

 
$
46



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