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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule Of Fair Value Hierarchy Of Assets And Liabilities Measured At Fair Value On Recurring Basis | The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of September 30, 2022, and December 31, 2021:
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | Level 1 | Level 2 | Level 3 | Total |  |  | Level 1 | Level 2 | Level 3 | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |
Ameren Missouri |  |  |  |  |  |  |  |  |  |  |
| Derivative assets – commodity contracts: |  |  |  |  |  |  |  |  |  |  |
| Fuel oils | $ | 13 |  | $ | — |  | $ | 2 |  | $ | 15 |  |  |  | $ | 13 |  | $ | — |  | $ | — |  | $ | 13 |  |
| Natural gas | 1 |  | 26 |  | — |  | 27 |  |  |  | — |  | 12 |  | — |  | 12 |  |
| Power | 9 |  | — |  | 19 |  | 28 |  |  |  | 10 |  | — |  | 13 |  | 23 |  |
| Uranium | — |  | — |  | 3 |  | 3 |  |  |  | — |  | — |  | 1 |  | 1 |  |
| Total derivative assets – commodity contracts | $ | 23 |  | $ | 26 |  | $ | 24 |  | $ | 73 |  |  |  | $ | 23 |  | $ | 12 |  | $ | 14 |  | $ | 49 |  |
| Nuclear decommissioning trust fund: |  |  |  |  |  |  |  |  |  |  |
| Equity securities: |  |  |  |  |  |  |  |  |  |  |
| U.S. large capitalization | $ | 574 |  | $ | — |  | $ | — |  | $ | 574 |  |  |  | $ | 824 |  | $ | — |  | $ | — |  | $ | 824 |  |
| Debt securities: |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and agency securities | — |  | 148 |  | — |  | 148 |  |  |  | — |  | 141 |  | — |  | 141 |  |
| Corporate bonds | — |  | 115 |  | — |  | 115 |  |  |  | — |  | 131 |  | — |  | 131 |  |
| Other | — |  | 64 |  | — |  | 64 |  |  |  | — |  | 56 |  | — |  | 56 |  |
| Total nuclear decommissioning trust fund | $ | 574 |  | $ | 327 |  | $ | — |  | $ | 901 |  | (a) |  | $ | 824 |  | $ | 328 |  | $ | — |  | $ | 1,152 |  | (a)
| Total Ameren Missouri | $ | 597 |  | $ | 353 |  | $ | 24 |  | $ | 974 |  |  |  | $ | 847 |  | $ | 340 |  | $ | 14 |  | $ | 1,201 |  |
Ameren Illinois |  |  |  |  |  |  |  |  |  |  |
| Derivative assets – commodity contracts: |  |  |  |  |  |  |  |  |  |  |
| Natural gas | $ | 6 |  | $ | 65 |  | $ | 7 |  | $ | 78 |  |  |  | $ | 1 |  | $ | 33 |  | $ | 7 |  | $ | 41 |  |
| Power | — |  | — |  | 16 |  | 16 |  |  |  | — |  | — |  | — |  | — |  |
| Total Ameren Illinois | $ | 6 |  | $ | 65 |  | $ | 23 |  | $ | 94 |  |  |  | $ | 1 |  | $ | 33 |  | $ | 7 |  | $ | 41 |  |
Ameren |  |  |  |  |  |  |  |  |  |  |
| Derivative assets – commodity contracts(b) | $ | 29 |  | $ | 91 |  | $ | 47 |  | $ | 167 |  |  |  | $ | 24 |  | $ | 45 |  | $ | 21 |  | $ | 90 |  |
| Nuclear decommissioning trust fund(c) | 574 |  | 327 |  | — |  | 901 |  | (a) |  | 824 |  | 328 |  | — |  | 1,152 |  | (a)
| Total Ameren | $ | 603 |  | $ | 418 |  | $ | 47 |  | $ | 1,068 |  |  |  | $ | 848 |  | $ | 373 |  | $ | 21 |  | $ | 1,242 |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Ameren Missouri |  |  |  |  |  |  |  |  |  |  |
| Derivative liabilities – commodity contracts: |  |  |  |  |  |  |  |  |  |  |
| Fuel oils | $ | 1 |  | $ | — |  | $ | — |  | $ | 1 |  |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  |
| Natural gas | — |  | 2 |  | 1 |  | 3 |  |  |  | — |  | 2 |  | 1 |  | 3 |  |
| Power | 98 |  | — |  | 27 |  | 125 |  |  |  | 45 |  | — |  | 28 |  | 73 |  |
| Uranium | — |  | — |  | — |  | — |  |  |  | — |  | — |  | 1 |  | 1 |  |
| Total Ameren Missouri | $ | 99 |  | $ | 2 |  | $ | 28 |  | $ | 129 |  |  |  | $ | 45 |  | $ | 2 |  | $ | 30 |  | $ | 77 |  |
Ameren Illinois |  |  |  |  |  |  |  |  |  |  |
| Derivative liabilities – commodity contracts: |  |  |  |  |  |  |  |  |  |  |
| Natural gas | $ | — |  | $ | 6 |  | $ | 6 |  | $ | 12 |  |  |  | $ | — |  | $ | 5 |  | $ | 3 |  | $ | 8 |  |
| Power | — |  | — |  | 36 |  | 36 |  |  |  | — |  | — |  | 117 |  | 117 |  |
| Total Ameren Illinois | $ | — |  | $ | 6 |  | $ | 42 |  | $ | 48 |  |  |  | $ | — |  | $ | 5 |  | $ | 120 |  | $ | 125 |  |
Ameren |  |  |  |  |  |  |  |  |  |  |
| Derivative liabilities – commodity contracts(b) | $ | 99 |  | $ | 8 |  | $ | 70 |  | $ | 177 |  |  |  | $ | 45 |  | $ | 7 |  | $ | 150 |  | $ | 202 |  |
(a)Balance exclude s $9 million and $7 million of cash and cash equivalents, receivables, payables, and accrued income, net, for September 30, 2022, and December 31, 2021, respectively. (b)See the Ameren Missouri and Ameren Illinois sections of the table for a breakout of the fair value of Ameren’s derivative assets and liabilities by type of commodity. (c)See the Ameren Missouri section of the table for a breakout of the fair value of Ameren’s nuclear decommissioning trust fund by investment type.
Schedule Of Changes In The Fair Value Of Financial Assets And Liabilities Classified As Level Three In The Fair Value Hierarchy | The following table presents the fair value reconciliation of Level 3 power derivative contract assets and liabilities measured at fair value on a recurring basis for the three and nine months ended September 30, 2022 and 2021:
| 2022 |  |  | 2021
| Ameren Missouri | Ameren Illinois |  |  | Ameren |  |  | Ameren Missouri | Ameren Illinois | Ameren
For the three months ended September 30: |  |  |  |  |  |  |  |  |  |
Beginning balance at July 1 | $ | (36) |  | $ | (44) |  |  |  | $ | (80) |  |  |  | $ | (5) |  | $ | (166) |  | $ | (171) |
Realized and unrealized gains/(losses) included in regulatory assets/liabilities | (10) |  | 30 |  |  |  | 20 |  |  |  | (16) |  | 19 |  | 3 |
Settlements | 38 |  | (6) |  |  |  | 32 |  |  |  | (2) |  | 3 |  | 1 |
Ending balance at September 30 | $ | (8) |  | $ | (20) |  |  |  | $ | (28) |  |  |  | $ | (23) |  | $ | (144) |  | $ | (167) |
Change in unrealized gains/(losses) related to assets/liabilities held at September 30 | $ | (3) |  | $ | 28 |  |  |  | $ | 25 |  |  |  | $ | (17) |  | $ | 19 |  | $ | 2 |
For the nine months ended September 30: |  |  |  |  |  |  |  |  |  |
Beginning balance at January 1 | $ | (15) |  | $ | (117) |  |  |  | $ | (132) |  |  |  | $ | 2 |  | $ | (198) |  | $ | (196) |
Realized and unrealized gains/(losses) included in regulatory assets/liabilities | (56) |  | 105 |  |  |  | 49 |  |  |  | (22) |  | 43 |  | 21 |
Settlements | 63 |  | (8) |  |  |  | 55 |  |  |  | (3) |  | 11 |  | 8 |
Ending balance at September 30 | $ | (8) |  | $ | (20) |  |  |  | $ | (28) |  |  |  | $ | (23) |  | $ | (144) |  | $ | (167) |
Change in unrealized gains/(losses) related to assets/liabilities held at September 30 | $ | (39) |  | $ | 100 |  |  |  | $ | 61 |  |  |  | $ | (21) |  | $ | 42 |  | $ | 21 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The following table describes the valuation techniques and significant unobservable inputs utilized for the fair value of our Level 3 power derivative contract assets and liabilities as of September 30, 2022, and December 31, 2021:
|  |  | Fair Value |  |  |  | Weighted Average(b) |
| Commodity |  | Assets |  | Liabilities | Valuation Technique(s) | Unobservable Input(a) | Range |
2022 | Power(c) | $ | 35 | $ | (63) | Discounted cash flow | Average forward peak and off-peak pricing – forwards/swaps ($/MWh) | 42 – 118 | 60 |
|  |  |  |  |  |  | Nodal basis ($/MWh) | (15) – 2 | (5) |
|  |  |  |  |  |  | Trend rate (%) | 0 – 1 | 0 |
2021 | Power(d) | $ | 13 | $ | (145) | Discounted cash flow | Average forward peak and off-peak pricing – forwards/swaps ($/MWh) | 32 – 55 | 40 |
|  |  |  |  |  |  | Nodal basis ($/MWh) | (14) – 0 | (2) |
|  |  |  |  |  |  | Trend rate (%) | (e) | 0 |
(a)Generally, significant increases (decreases) in these inputs in isolation would result in a significantly higher (lower) fair value measurement. (b)Unobservable inputs were weighted by relative fair value. (c)Valuations through 2031 use visible forward prices adjusted for nodal-to-hub basis differentials. Valuations beyond 2031 use a trend rate factor and are similarly adjusted for nodal-to-hub basis differentials. (d)Valuations through 2029 use visible forward prices adjusted for nodal-to-hub basis differentials. Valuations beyond 2029 use a trend rate factor and are similarly adjusted for nodal-to-hub basis differentials. (e)No meaningful range around weighted average.
Schedule of Financial Assets and Liabilities | The following table sets forth the carrying amount and, by level within the fair value hierarchy, the fair value of financial assets and liabilities disclosed, but not recorded, at fair value as of September 30, 2022, and December 31, 2021:
| Carrying Amount |  | Fair Value |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
| September 30, 2022
Ameren: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 180 |  |  | $ | 180 |  |  | $ | — |  |  | $ | — |  |  | $ | 180 |
Investments in industrial development revenue bonds(a) | 248 |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
Short-term debt | 1,221 |  |  | — |  |  | 1,221 |  |  | — |  |  | 1,221 |
Long-term debt (including current portion)(a) | 13,732 |  | (b) | — |  |  | 11,493 |  |  | 446 |  | (c) | 11,939 |
Ameren Missouri: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 7 |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |
Investments in industrial development revenue bonds(a) | 248 |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
Short-term debt | 178 |  |  | — |  |  | 178 |  |  | — |  |  | 178 |
Long-term debt (including current portion)(a) | 6,140 |  | (b) | — |  |  | 5,352 |  |  | — |  |  | 5,352 |
Ameren Illinois: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 166 |  |  | $ | 166 |  |  | $ | — |  |  | $ | — |  |  | $ | 166 |
Short-term debt | 353 |  |  | — |  |  | 353 |  |  | — |  |  | 353 |
Long-term debt (including current portion) | 4,489 |  | (b) | — |  |  | 3,868 |  |  | — |  |  | 3,868 |
| December 31, 2021
Ameren: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 155 |  |  | $ | 155 |  |  | $ | — |  |  | $ | — |  |  | $ | 155 |
Investments in industrial development revenue bonds(a) | 248 |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
Short-term debt | 545 |  |  | — |  |  | 545 |  |  | — |  |  | 545 |
Long-term debt (including current portion)(a) | 13,067 |  | (b) | — |  |  | 13,930 |  |  | 591 |  | (c) | 14,521 |
Ameren Missouri: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 8 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |
Investments in industrial development revenue bonds(a) | 248 |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
Short-term debt | 165 |  |  | — |  |  | 165 |  |  | — |  |  | 165 |
Long-term debt (including current portion)(a) | 5,619 |  | (b) | — |  |  | 6,321 |  |  | — |  |  | 6,321 |
Ameren Illinois: |  |  |  |  |  |  |  |  |
Cash, cash equivalents, and restricted cash | $ | 133 |  |  | $ | 133 |  |  | $ | — |  |  | $ | — |  |  | $ | 133 |
Short-term debt | 103 |  |  | — |  |  | 103 |  |  | — |  |  | 103 |
Long-term debt (including current portion) | 4,392 |  | (b) | — |  |  | 4,971 |  |  | — |  |  | 4,971 |
(a)Ameren and Ameren Missouri have investments in industrial development revenue bonds, classified as held-to-maturity and recorded in “Other Assets,” that are equal to the finance obligations for the Peno Creek and Audrain CT energy centers. As of September 30, 2022, and December 31, 2021, the carrying amount of both the investments in industrial development revenue bonds and the finance obligations approximated fair value. (b)Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $99 million, $42 million, and $41 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of September 30, 2022. Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $94 million, $38 million, and $39 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of December 31, 2021. (c)The Level 3 fair value amount consists of ATXI’s senior unsecured notes.

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