AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - November 3, 2017

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Exhibit 99.2
AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,594

 
$
1,725

 
$
4,183

 
$
4,101

Natural gas
129

 
134

 
592

 
619

Total operating revenues
1,723

 
1,859

 
4,775

 
4,720

Operating Expenses:
 
 
 
 
 
 
 
Fuel
199

 
205

 
594

 
574

Purchased power
162

 
178

 
491

 
451

Natural gas purchased for resale
25

 
34

 
196

 
227

Other operations and maintenance
402

 
411

 
1,229

 
1,246

Depreciation and amortization
225

 
211

 
668

 
628

Taxes other than income taxes
129

 
129

 
364

 
358

Total operating expenses
1,142

 
1,168

 
3,542

 
3,484

Operating Income
581

 
691

 
1,233

 
1,236

Other Income and Expenses:
 
 
 
 
 
 
 
Miscellaneous income
13

 
18

 
42

 
54

Miscellaneous expense
2

 
8

 
16

 
21

Total other income
11

 
10

 
26

 
33

Interest Charges
97

 
97

 
295

 
287

Income Before Income Taxes
495

 
604

 
964

 
982

Income Taxes
205

 
233

 
376

 
356

Net Income
290

 
371

 
588

 
626

Less: Net Income Attributable to Noncontrolling Interests
2

 
2

 
5

 
5

Net Income Attributable to Ameren Common Shareholders
$
288

 
$
369

 
$
583

 
$
621

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
1.19

 
$
1.52

 
$
2.40

 
$
2.56

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
1.18

 
$
1.52

 
$
2.39

 
$
2.56

 
 
 
 
 
 
 
 
Average Common Shares Outstanding – Basic
242.6

 
242.6

 
242.6

 
242.6

Average Common Shares Outstanding – Diluted
244.7

 
242.9

 
244.0

 
243.0





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

 
September 30, 2017
 
December 31, 2016
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
9

 
$
9

Accounts receivable - trade (less allowance for doubtful accounts)
507

 
437

Unbilled revenue
262

 
295

Miscellaneous accounts receivable
85

 
63

Inventories
547

 
527

Current regulatory assets
75

 
149

Other current assets
96

 
113

Total current assets
1,581

 
1,593

Property, Plant, and Equipment, Net
20,906

 
20,113

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
672

 
607

Goodwill
411

 
411

Regulatory assets
1,509

 
1,437

Other assets
538

 
538

Total investments and other assets
3,130

 
2,993

TOTAL ASSETS
$
25,617

 
$
24,699

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
777

 
$
681

Short-term debt
446

 
558

Accounts and wages payable
548

 
805

Taxes accrued
159

 
46

Interest accrued
106

 
93

Customer deposits
108

 
107

Current regulatory liabilities
119

 
110

Other current liabilities
318

 
274

Total current liabilities
2,581

 
2,674

Long-term Debt, Net
6,922

 
6,595

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
4,721

 
4,264

Accumulated deferred investment tax credits
50

 
55

Regulatory liabilities
2,045

 
1,985

Asset retirement obligations
631

 
635

Pension and other postretirement benefits
711

 
769

Other deferred credits and liabilities
469

 
477

Total deferred credits and other liabilities
8,627

 
8,185

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,534

 
5,556

Retained earnings
1,830

 
1,568

Accumulated other comprehensive loss
(21
)
 
(23
)
Total Ameren Corporation shareholders’ equity
7,345

 
7,103

Noncontrolling Interests
142

 
142

Total equity
7,487

 
7,245

TOTAL LIABILITIES AND EQUITY
$
25,617

 
$
24,699





AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Nine Months Ended September 30,
 
2017
 
2016
Cash Flows From Operating Activities:
 
 
 
Net income
$
588

 
$
626

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
653

 
625

Amortization of nuclear fuel
71

 
63

Amortization of debt issuance costs and premium/discounts
16

 
17

Deferred income taxes and investment tax credits, net
366

 
364

Allowance for equity funds used during construction
(16
)
 
(20
)
Share-based compensation costs
12

 
17

Other
(7
)
 
(9
)
Changes in assets and liabilities
(40
)
 
(124
)
Net cash provided by operating activities
1,643

 
1,559

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,523
)
 
(1,496
)
Nuclear fuel expenditures
(52
)
 
(41
)
Purchases of securities – nuclear decommissioning trust fund
(248
)
 
(310
)
Sales and maturities of securities – nuclear decommissioning trust fund
235

 
297

Other
3

 
(1
)
Net cash used in investing activities
(1,585
)
 
(1,551
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(320
)
 
(309
)
Dividends paid to noncontrolling interest holders
(5
)
 
(5
)
Short-term debt, net
(112
)
 
307

Maturities of long-term debt
(425
)
 
(389
)
Issuances of long-term debt
849

 
149

Share-based payments
(39
)
 
(32
)
Debt issuance costs
(5
)
 
(1
)
Other
(1
)
 
(2
)
Net cash used in financing activities
(58
)
 
(282
)
Net change in cash and cash equivalents
—

 
(274
)
Cash and cash equivalents at beginning of year
9

 
292

Cash and cash equivalents at end of period
$
9

 
$
18



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