AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - February 16, 2017

Attached files

file filename
EX-99.1 - EXHIBIT 99.1 - AMEREN CORPq42016exhibit991earningsre.htm
8-K - 8-K - AMEREN CORPq420168kearningsrelease.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,
 
2016
 
2015
 
2016
 
2015
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,095

 
$
1,087

 
$
5,196

 
$
5,180

Natural gas
261

 
221

 
880

 
918

Total operating revenues
1,356

 
1,308

 
6,076

 
6,098

Operating Expenses:
 
 
 
 
 
 
 
Fuel
171

 
208

 
745

 
878

Purchased power
170

 
121

 
621

 
514

Natural gas purchased for resale
114

 
95

 
341

 
415

Other operations and maintenance
430

 
438

 
1,676

 
1,694

Provision for Callaway construction and operating license
—

 
—

 
—

 
69

Depreciation and amortization
217

 
202

 
845

 
796

Taxes other than income taxes
109

 
104

 
467

 
473

Total operating expenses
1,211

 
1,168

 
4,695

 
4,839

Operating Income
145

 
140

 
1,381

 
1,259

Other Income and Expenses:
 
 
 
 
 
 
 
Miscellaneous income
20

 
20

 
74

 
74

Miscellaneous expense
11

 
8

 
32

 
30

Total other income
9

 
12

 
42

 
44

Interest Charges
95

 
91

 
382

 
355

Income Before Income Taxes
59

 
61

 
1,041

 
948

Income Taxes
26

 
30

 
382

 
363

Income from Continuing Operations
33

 
31

 
659

 
585

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

 
(1
)
 
—

 
51

Net Income
33

 
30

 
659

 
636

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

 
1

 
6

 
6

Net Income (Loss) Attributable to Ameren Common Shareholders:
 
 
 
 
 
 
 
Continuing Operations
32

 
30

 
653

 
579

Discontinued Operations
—

 
(1
)
 
—

 
51

Net Income Attributable to Ameren Common Shareholders
$
32

 
$
29

 
$
653

 
$
630

Earnings per Common Share – Basic:
 
 
 
 
 
 
 
Continuing Operations
$
0.13

 
$
0.12

 
$
2.69

 
$
2.39

Discontinued Operations
—

 
—

 
—

 
0.21

Earnings per Common Share – Basic
$
0.13

 
$
0.12

 
$
2.69

 
$
2.60

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted:
 
 
 
 
 
 
 
Continuing Operations
$
0.13

 
$
0.12

 
$
2.68

 
$
2.38

Discontinued Operations
—

 
—

 
—

 
0.21

Earnings per Common Share – Diluted
$
0.13

 
$
0.12

 
$
2.68

 
$
2.59

 
 
 
 
 
 
 
 
Average Common Shares Outstanding – Basic
242.6

 
242.6

 
242.6

 
242.6

Average Common Shares Outstanding – Diluted
244.7

 
243.0

 
243.4

 
243.6



                                                

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
 
December 31, 2016
 
December 31, 2015
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
9

 
$
292

Accounts receivable - trade (less allowance for doubtful accounts)
437

 
388

Unbilled revenue
295

 
239

Miscellaneous accounts and notes receivable
63

 
98

Inventories
527

 
538

Current regulatory assets
149

 
260

Other current assets
98

 
88

Assets of discontinued operations
15

 
14

Total current assets
1,593

 
1,917

Property, Plant, and Equipment, Net
20,113

 
18,799

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
607

 
556

Goodwill
411

 
411

Regulatory assets
1,437

 
1,382

Other assets
538

 
575

Total investments and other assets
2,993

 
2,924

TOTAL ASSETS
$
24,699

 
$
23,640

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
681

 
$
395

Short-term debt
558

 
301

Accounts and wages payable
805

 
777

Taxes accrued
46

 
43

Interest accrued
93

 
89

Customer deposits
107

 
100

Current regulatory liabilities
110

 
80

Other current liabilities
248

 
279

Liabilities of discontinued operations
26

 
29

Total current liabilities
2,674

 
2,093

Long-term Debt, Net
6,595

 
6,880

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
4,264

 
3,885

Accumulated deferred investment tax credits
55

 
60

Regulatory liabilities
1,985

 
1,905

Asset retirement obligations
635

 
618

Pension and other postretirement benefits
769

 
580

Other deferred credits and liabilities
477

 
531

Total deferred credits and other liabilities
8,185

 
7,579

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,556

 
5,616

Retained earnings
1,568

 
1,331

Accumulated other comprehensive loss
(23
)
 
(3
)
Total Ameren Corporation shareholders’ equity
7,103

 
6,946

Noncontrolling Interests
142

 
142

Total equity
7,245

 
7,088

TOTAL LIABILITIES AND EQUITY
$
24,699

 
$
23,640



                                                

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Year Ended December 31,
 
2016
 
2015
Cash Flows From Operating Activities:
 
 
 
Net income
$
659

 
$
636

Income from discontinued operations, net of tax
—

 
(51
)
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Provision for Callaway construction and operating license
—

 
69

Depreciation and amortization
835

 
777

Amortization of nuclear fuel
88

 
97

Amortization of debt issuance costs and premium/discounts
22

 
22

Deferred income taxes and investment tax credits, net
386

 
369

Allowance for equity funds used during construction
(27
)
 
(30
)
Share-based compensation costs
17

 
24

Other
4

 
(10
)
Changes in assets and liabilities
140

 
132

Net cash provided by operating activities – continuing operations
2,124

 
2,035

Net cash used in operating activities – discontinued operations
(1
)
 
(4
)
Net cash provided by operating activities
2,123

 
2,031

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(2,076
)
 
(1,917
)
Nuclear fuel expenditures
(55
)
 
(52
)
Purchases of securities – nuclear decommissioning trust fund
(392
)
 
(363
)
Sales and maturities of securities – nuclear decommissioning trust fund
377

 
349

Proceeds from note receivable – Illinois Power Marketing Company
—

 
20

Contributions to note receivable – Illinois Power Marketing Company
—

 
(8
)
Other
5

 
20

Net cash used in investing activities – continuing operations
(2,141
)
 
(1,951
)
Net cash used in investing activities – discontinued operations
—

 
(25
)
Net cash used in investing activities
(2,141
)
 
(1,976
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(416
)
 
(402
)
Dividends paid to noncontrolling interest holders
(6
)
 
(6
)
Short-term debt, net
257

 
(413
)
Maturities of long-term debt
(395
)
 
(120
)
Issuances of long-term debt
389

 
1,197

Capital issuance costs
(9
)
 
(12
)
Share-based payments
(83
)
 
(12
)
Other
(2
)
 
—

Net cash provided by (used in) financing activities – continuing operations
(265
)
 
232

Net change in cash and cash equivalents
(283
)
 
287

Cash and cash equivalents at beginning of year
292

 
5

Cash and cash equivalents at end of year – continuing operations
$
9

 
$
292




Stock widget

Investing forum

AMEREN CORP Reports