Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - AMEREN CORP | q42020ex991earningsrelease.htm |
| 8-K - 8-K - AMEREN CORP | aee-20210218.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, | ||||||||||||||||||||||
| 2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
| Operating Revenues: | |||||||||||||||||||||||
| Electric | $ | 1,065 | $ | 1,053 | $ | 4,911 | $ | 4,981 | |||||||||||||||
| Natural gas | 263 | 263 | 883 | 929 | |||||||||||||||||||
| Total operating revenues | 1,328 | 1,316 | 5,794 | 5,910 | |||||||||||||||||||
| Operating Expenses: | |||||||||||||||||||||||
| Fuel | 90 | 126 | 490 | 535 | |||||||||||||||||||
| Purchased power | 130 | 116 | 513 | 556 | |||||||||||||||||||
| Natural gas purchased for resale | 89 | 95 | 272 | 331 | |||||||||||||||||||
| Other operations and maintenance | 421 | 444 | 1,661 | 1,745 | |||||||||||||||||||
| Depreciation and amortization | 276 | 250 | 1,075 | 995 | |||||||||||||||||||
| Taxes other than income taxes | 111 | 106 | 483 | 481 | |||||||||||||||||||
| Total operating expenses | 1,117 | 1,137 | 4,494 | 4,643 | |||||||||||||||||||
| Operating Income | 211 | 179 | 1,300 | 1,267 | |||||||||||||||||||
| Other Income, Net | 34 | 31 | 151 | 130 | |||||||||||||||||||
| Interest Charges | 108 | 91 | 419 | 381 | |||||||||||||||||||
| Income Before Income Taxes | 137 | 119 | 1,032 | 1,016 | |||||||||||||||||||
| Income Taxes | 21 | 24 | 155 | 182 | |||||||||||||||||||
| Net Income | 116 | 95 | 877 | 834 | |||||||||||||||||||
| Less: Net Income Attributable to Noncontrolling Interests | 1 | 1 | 6 | 6 | |||||||||||||||||||
| Net Income Attributable to Ameren Common Shareholders | $ | 115 | $ | 94 | $ | 871 | $ | 828 | |||||||||||||||
| Earnings per Common Share – Basic | $ | 0.47 | $ | 0.38 | $ | 3.53 | $ | 3.37 | |||||||||||||||
| Earnings per Common Share – Diluted | $ | 0.46 | $ | 0.38 | $ | 3.50 | $ | 3.35 | |||||||||||||||
| Weighted-average Common Shares Outstanding – Basic | 247.4 | 246.0 | 247.0 | 245.6 | |||||||||||||||||||
| Weighted-average Common Shares Outstanding – Diluted | 249.7 | 247.5 | 248.7 | 247.1 | |||||||||||||||||||
AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
| December 31, 2020 | December 31, 2019 | ||||||||||
| ASSETS | |||||||||||
| Current Assets: | |||||||||||
| Cash and cash equivalents | $ | 139 | $ | 16 | |||||||
| Accounts receivable - trade (less allowance for doubtful accounts) | 415 | 393 | |||||||||
| Unbilled revenue | 269 | 278 | |||||||||
| Miscellaneous accounts receivable | 65 | 63 | |||||||||
| Inventories | 521 | 494 | |||||||||
| Current regulatory assets | 109 | 69 | |||||||||
| Other current assets | 135 | 118 | |||||||||
| Total current assets | 1,653 | 1,431 | |||||||||
| Property, Plant, and Equipment, Net | 26,807 | 24,376 | |||||||||
| Investments and Other Assets: | |||||||||||
| Nuclear decommissioning trust fund | 982 | 847 | |||||||||
| Goodwill | 411 | 411 | |||||||||
| Regulatory assets | 1,100 | 992 | |||||||||
| Other assets | 1,077 | 876 | |||||||||
| Total investments and other assets | 3,570 | 3,126 | |||||||||
| TOTAL ASSETS | $ | 32,030 | $ | 28,933 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current Liabilities: | |||||||||||
| Current maturities of long-term debt | $ | 8 | $ | 442 | |||||||
| Short-term debt | 490 | 440 | |||||||||
| Accounts and wages payable | 958 | 874 | |||||||||
| Interest accrued | 114 | 94 | |||||||||
| Current regulatory liabilities | 121 | 164 | |||||||||
| Other current liabilities | 489 | 491 | |||||||||
| Total current liabilities | 2,180 | 2,505 | |||||||||
| Long-term Debt, Net | 11,078 | 8,915 | |||||||||
| Deferred Credits and Other Liabilities: | |||||||||||
| Accumulated deferred income taxes and investment tax credits, net | 3,211 | 2,919 | |||||||||
| Regulatory liabilities | 5,282 | 4,887 | |||||||||
| Asset retirement obligations | 696 | 638 | |||||||||
| Pension and other postretirement benefits | 37 | 401 | |||||||||
| Other deferred credits and liabilities | 466 | 467 | |||||||||
| Total deferred credits and other liabilities | 9,692 | 9,312 | |||||||||
| Ameren Corporation Shareholders’ Equity: | |||||||||||
| Common stock | 3 | 2 | |||||||||
| Other paid-in capital, principally premium on common stock | 6,179 | 5,694 | |||||||||
| Retained earnings | 2,757 | 2,380 | |||||||||
| Accumulated other comprehensive loss | (1) | (17) | |||||||||
| Total Ameren Corporation shareholders’ equity | 8,938 | 8,059 | |||||||||
| Noncontrolling Interests | 142 | 142 | |||||||||
| Total equity | 9,080 | 8,201 | |||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 32,030 | $ | 28,933 | |||||||
AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
| Year Ended December 31, | |||||||||||
| 2020 | 2019 | ||||||||||
| Cash Flows From Operating Activities: | |||||||||||
| Net income | $ | 877 | $ | 834 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization | 1,085 | 1,002 | |||||||||
| Amortization of nuclear fuel | 68 | 79 | |||||||||
| Amortization of debt issuance costs and premium/discounts | 22 | 19 | |||||||||
| Deferred income taxes and investment tax credits, net | 148 | 167 | |||||||||
| Allowance for equity funds used during construction | (32) | (28) | |||||||||
| Stock-based compensation costs | 21 | 20 | |||||||||
| Other | 22 | (14) | |||||||||
| Changes in assets and liabilities | (484) | 91 | |||||||||
| Net cash provided by operating activities | 1,727 | 2,170 | |||||||||
| Cash Flows From Investing Activities: | |||||||||||
| Capital expenditures | (2,669) | (2,411) | |||||||||
| Wind generation expenditures | (564) | — | |||||||||
| Nuclear fuel expenditures | (66) | (31) | |||||||||
| Purchases of securities – nuclear decommissioning trust fund | (224) | (256) | |||||||||
| Sales and maturities of securities – nuclear decommissioning trust fund | 183 | 260 | |||||||||
| Purchase of bonds | — | (207) | |||||||||
| Proceeds from sale of remarketed bonds | — | 207 | |||||||||
| Other | 11 | 3 | |||||||||
| Net cash used in investing activities | (3,329) | (2,435) | |||||||||
| Cash Flows From Financing Activities: | |||||||||||
| Dividends on common stock | (494) | (472) | |||||||||
| Dividends paid to noncontrolling interest holders | (6) | (6) | |||||||||
| Short-term debt, net | 50 | (157) | |||||||||
| Maturities of long-term debt | (442) | (580) | |||||||||
| Issuances of long-term debt | 2,183 | 1,527 | |||||||||
| Issuances of common stock | 476 | 68 | |||||||||
| Employee payroll taxes related to stock-based compensation | (20) | (29) | |||||||||
| Debt issuance costs | (20) | (17) | |||||||||
| Net cash provided by financing activities | 1,727 | 334 | |||||||||
| Net change in cash, cash equivalents, and restricted cash | 125 | 69 | |||||||||
| Cash, cash equivalents, and restricted cash at beginning of year | 176 | 107 | |||||||||
| Cash, cash equivalents, and restricted cash at end of year | $ | 301 | $ | 176 | |||||||