AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - August 5, 2016

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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,
 
2016
 
2015
 
2016
 
2015
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,274

 
$
1,250

 
$
2,376

 
$
2,393

Gas
153

 
151

 
485

 
564

Total operating revenues
1,427

 
1,401

 
2,861

 
2,957

Operating Expenses:
 
 
 
 
 
 
 
Fuel
166

 
205

 
369

 
411

Purchased power
135

 
101

 
273

 
240

Gas purchased for resale
41

 
46

 
193

 
282

Other operations and maintenance
435

 
427

 
835

 
828

Provision for Callaway construction and operating license
—

 
69

 
—

 
69

Depreciation and amortization
210

 
200

 
417

 
393

Taxes other than income taxes
115

 
116

 
229

 
241

Total operating expenses
1,102

 
1,164

 
2,316

 
2,464

Operating Income
325

 
237

 
545

 
493

Other Income and Expense:
 
 
 
 
 
 
 
Miscellaneous income
16

 
16

 
36

 
35

Miscellaneous expense
6

 
6

 
13

 
17

Total other income
10

 
10

 
23

 
18

Interest Charges
95

 
89

 
190

 
177

Income Before Income Taxes
240

 
158

 
378

 
334

Income Taxes
92

 
59

 
123

 
125

Income from Continuing Operations
148

 
99

 
255

 
209

Income from Discontinued Operations, Net of Taxes
—

 
52

 
—

 
52

Net Income
148

 
151

 
255

 
261

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

 
1

 
3

 
3

Net Income Attributable to Ameren Common Shareholders:
 
 
 
 
 
 
 
Continuing Operations
147

 
98

 
252

 
206

Discontinued Operations
—

 
52

 
—

 
52

Net Income Attributable to Ameren Common Shareholders
$
147

 
$
150

 
$
252

 
$
258

Earnings per Common Share – Basic and Diluted:
 
 
 
 
 
 
 
Continuing Operations
$
0.61

 
$
0.40

 
$
1.04

 
$
0.85

Discontinued Operations
—

 
0.21

 
—

 
0.21

Earnings per Common Share – Basic and Diluted
$
0.61

 
$
0.61

 
$
1.04

 
$
1.06

 
 
 
 
 
 
 
 
Average Common Shares Outstanding – Basic
242.6

 
242.6

 
242.6

 
242.6





AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)

 
June 30, 2016
 
December 31, 2015
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
13

 
$
292

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

 
388

Unbilled revenue
328

 
239

Miscellaneous accounts receivable
65

 
98

Materials and supplies
515

 
538

Current regulatory assets
146

 
260

Other current assets
68

 
88

Assets of discontinued operations
14

 
14

Total current assets
1,594

 
1,917

Property and Plant, Net
19,324

 
18,799

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
582

 
556

Goodwill
411

 
411

Regulatory assets
1,330

 
1,382

Other assets
552

 
575

Total investments and other assets
2,875

 
2,924

TOTAL ASSETS
$
23,793

 
$
23,640

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
431

 
$
395

Short-term debt
778

 
301

Accounts and wages payable
499

 
777

Taxes accrued
124

 
43

Interest accrued
102

 
89

Customer deposits
100

 
100

Current regulatory liabilities
99

 
80

Other current liabilities
270

 
279

Liabilities of discontinued operations
27

 
29

Total current liabilities
2,430

 
2,093

Long-term Debt, Net
6,605

 
6,880

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
4,028

 
3,885

Accumulated deferred investment tax credits
57

 
60

Regulatory liabilities
1,953

 
1,905

Asset retirement obligations
629

 
618

Pension and other postretirement benefits
537

 
580

Other deferred credits and liabilities
490

 
531

Total deferred credits and other liabilities
7,694

 
7,579

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,545

 
5,616

Retained earnings
1,376

 
1,331

Accumulated other comprehensive loss
(1
)
 
(3
)
Total Ameren Corporation shareholders’ equity
6,922

 
6,946

Noncontrolling Interests
142

 
142

Total equity
7,064

 
7,088

TOTAL LIABILITIES AND EQUITY
$
23,793

 
$
23,640





AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Six Months Ended June 30,
 
2016
 
2015
Cash Flows From Operating Activities:
 
 
 
Net income
$
255

 
$
261

(Income) from discontinued operations, net of taxes
—

 
(52
)
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Provision for Callaway construction and operating license
—

 
69

Depreciation and amortization
419

 
387

Amortization of nuclear fuel
38

 
47

Amortization of debt issuance costs and premium/discounts
11

 
11

Deferred income taxes and investment tax credits, net
134

 
116

Allowance for equity funds used during construction
(13
)
 
(11
)
Share-based compensation costs
12

 
14

Other
(7
)
 
(13
)
Changes in assets and liabilities
(84
)
 
(47
)
Net cash provided by operating activities – continuing operations
765

 
782

Net cash used in operating activities – discontinued operations
(2
)
 
(1
)
Net cash provided by operating activities
763

 
781

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,000
)
 
(846
)
Nuclear fuel expenditures
(24
)
 
(28
)
Purchases of securities – nuclear decommissioning trust fund
(201
)
 
(117
)
Sales and maturities of securities – nuclear decommissioning trust fund
192

 
110

Proceeds from note receivable – Illinois Power Marketing Company
—

 
10

Contributions to note receivable – Illinois Power Marketing Company
—

 
(7
)
Other
(2
)
 
3

Net cash used in investing activities – continuing operations
(1,035
)
 
(875
)
Net cash used in investing activities – discontinued operations
—

 
—

Net cash used in investing activities
(1,035
)
 
(875
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(206
)
 
(199
)
Dividends paid to noncontrolling interest holders
(3
)
 
(3
)
Short-term debt, net
477

 
172

Maturities of long-term debt
(389
)
 
(114
)
Issuances of long-term debt
149

 
249

Employee payroll taxes related to share-based payments
(32
)
 
(12
)
Capital issuance costs
(1
)
 
(2
)
Other
(2
)
 
—

Net cash provided by (used in) financing activities – continuing operations
(7
)
 
91

Net change in cash and cash equivalents
(279
)
 
(3
)
Cash and cash equivalents at beginning of year
292

 
5

Cash and cash equivalents at end of period
$
13

 
$
2



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