AMEREN CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - October 31, 2018

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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,
 
2018
 
2017
 
2018
 
2017
Operating Revenues:
 
 
 
 
 
 
 
Electric
$
1,590

 
$
1,594

 
$
4,209

 
$
4,183

Natural gas
134

 
129

 
663

 
592

Total operating revenues
1,724

 
1,723

 
4,872

 
4,775

Operating Expenses:
 
 
 
 
 
 
 
Fuel
216

 
199

 
590

 
594

Purchased power
148

 
163

 
453

 
493

Natural gas purchased for resale
30

 
25

 
252

 
196

Other operations and maintenance
429

 
413

 
1,299

 
1,262

Depreciation and amortization
241

 
225

 
713

 
668

Taxes other than income taxes
127

 
129

 
374

 
364

Total operating expenses
1,191

 
1,154

 
3,681

 
3,577

Operating Income
533

 
569

 
1,191

 
1,198

Other Income, Net
32

 
23

 
84

 
61

Interest Charges
101

 
97

 
302

 
295

Income Before Income Taxes
464

 
495

 
973

 
964

Income Taxes
105

 
205

 
221

 
376

Net Income
359

 
290

 
752

 
588

Less: Net Income Attributable to Noncontrolling Interests
2

 
2

 
5

 
5

Net Income Attributable to Ameren Common Shareholders
$
357

 
$
288

 
$
747

 
$
583

 
 
 
 
 
 
 
 
Earnings per Common Share – Basic
$
1.46

 
$
1.19

 
$
3.06

 
$
2.40

 
 
 
 
 
 
 
 
Earnings per Common Share – Diluted
$
1.45

 
$
1.18

 
$
3.04

 
$
2.39

 
 
 
 
 
 
 
 
Weighted-average Common Shares Outstanding – Basic
244.1

 
242.6

 
243.6

 
242.6

Weighted-average Common Shares Outstanding – Diluted
246.3

 
244.7

 
245.5

 
244.0





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

 
September 30, 2018
 
December 31, 2017
ASSETS
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
11

 
$
10

Accounts receivable - trade (less allowance for doubtful accounts)
605

 
445

Unbilled revenue
260

 
323

Miscellaneous accounts receivable
84

 
70

Inventories
525

 
522

Current regulatory assets
72

 
144

Other current assets
83

 
98

Total current assets
1,640

 
1,612

Property, Plant, and Equipment, Net
22,379

 
21,466

Investments and Other Assets:
 
 
 
Nuclear decommissioning trust fund
752

 
704

Goodwill
411

 
411

Regulatory assets
1,130

 
1,230

Other assets
647

 
522

Total investments and other assets
2,940

 
2,867

TOTAL ASSETS
$
26,959

 
$
25,945

LIABILITIES AND EQUITY
 
 
 
Current Liabilities:
 
 
 
Current maturities of long-term debt
$
649

 
$
841

Short-term debt
521

 
484

Accounts and wages payable
591

 
902

Taxes accrued
154

 
52

Interest accrued
108

 
99

Customer deposits
126

 
108

Current regulatory liabilities
114

 
128

Other current liabilities
317

 
326

Total current liabilities
2,580

 
2,940

Long-term Debt, Net
7,614

 
7,094

Deferred Credits and Other Liabilities:
 
 
 
Accumulated deferred income taxes, net
2,692

 
2,506

Accumulated deferred investment tax credits
45

 
49

Regulatory liabilities
4,652

 
4,387

Asset retirement obligations
640

 
638

Pension and other postretirement benefits
529

 
545

Other deferred credits and liabilities
409

 
460

Total deferred credits and other liabilities
8,967

 
8,585

Ameren Corporation Shareholders’ Equity:
 
 
 
Common stock
2

 
2

Other paid-in capital, principally premium on common stock
5,598

 
5,540

Retained earnings
2,073

 
1,660

Accumulated other comprehensive loss
(17
)
 
(18
)
Total Ameren Corporation shareholders’ equity
7,656

 
7,184

Noncontrolling Interests
142

 
142

Total equity
7,798

 
7,326

TOTAL LIABILITIES AND EQUITY
$
26,959

 
$
25,945





AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 
Nine Months Ended September 30,
 
2018
 
2017
Cash Flows From Operating Activities:
 
 
 
Net income
$
752

 
$
588

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
699

 
653

Amortization of nuclear fuel
71

 
71

Amortization of debt issuance costs and premium/discounts
16

 
16

Deferred income taxes and investment tax credits, net
212

 
366

Allowance for equity funds used during construction
(25
)
 
(16
)
Stock-based compensation costs
15

 
12

Other
21

 
(7
)
Changes in assets and liabilities
(75
)
 
(36
)
Net cash provided by operating activities
1,686

 
1,647

Cash Flows From Investing Activities:
 
 
 
Capital expenditures
(1,689
)
 
(1,523
)
Nuclear fuel expenditures
(30
)
 
(52
)
Purchases of securities – nuclear decommissioning trust fund
(172
)
 
(187
)
Sales and maturities of securities – nuclear decommissioning trust fund
159

 
175

Other
13

 
3

Net cash used in investing activities
(1,719
)
 
(1,584
)
Cash Flows From Financing Activities:
 
 
 
Dividends on common stock
(334
)
 
(320
)
Dividends paid to noncontrolling interest holders
(5
)
 
(5
)
Short-term debt, net
36

 
(112
)
Maturities of long-term debt
(522
)
 
(425
)
Issuances of long-term debt
853

 
849

Issuances of common stock
56

 
—

Repurchases of common stock for stock-based compensation
—

 
(24
)
Employee payroll taxes related to stock-based compensation
(19
)
 
(15
)
Debt issuance costs
(9
)
 
(5
)
Other
1

 
(1
)
Net cash provided by (used in) financing activities
57

 
(58
)
Net change in cash, cash equivalents, and restricted cash
24

 
5

Cash, cash equivalents, and restricted cash at beginning of year
68

 
52

Cash, cash equivalents, and restricted cash at end of period
$
92

 
$
57



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