EX-99.2 3 q12022ex992earningsrelease.htm EX-99.2

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Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

									Three Months Ended March 31,
															2022						2021
Operating Revenues:
Electric															$	1,318					$	1,156
Natural gas															561						410
Total operating revenues															1,879						1,566
Operating Expenses:
Fuel															176						65
Purchased power															177						191
Natural gas purchased for resale															293						165
Other operations and maintenance															461						420
Depreciation and amortization															299						281
Taxes other than income taxes															142						128
Total operating expenses															1,548						1,250
Operating Income															331						316
Other Income, Net															60						46
Interest Charges															104						100
Income Before Income Taxes															287						262
Income Taxes															34						27
Net Income															253						235
Less: Net Income Attributable to Noncontrolling Interests															1						2
Net Income Attributable to Ameren Common Shareholders															$	252					$	233
Earnings per Common Share – Basic															$	0.98					$	0.92
Earnings per Common Share – Diluted															$	0.97					$	0.91
Weighted-average Common Shares Outstanding – Basic															257.9						254.4
Weighted-average Common Shares Outstanding – Diluted															259.0						255.9

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

			March 31, 2022						December 31, 2021
ASSETS
Current Assets:
Cash and cash equivalents			$	7					$	8
Accounts receivable - trade (less allowance for doubtful accounts)			560						434
Unbilled revenue			283						301
Miscellaneous accounts receivable			87						85
Inventories			520						592
Mark-to-market derivative assets			137						66
Current regulatory assets			244						319
Current collateral assets			110						66
Other current assets			83						97
Total current assets			2,031						1,968
Property, Plant, and Equipment, Net			29,578						29,261
Investments and Other Assets:
Nuclear decommissioning trust fund			1,094						1,159
Goodwill			411						411
Regulatory assets			1,377						1,289
Pension and other postretirement benefits			772						756
Other assets			934						891
Total investments and other assets			4,588						4,506
TOTAL ASSETS			$	36,197					$	35,735
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt			$	505					$	505
Short-term debt			1,101						545
Accounts and wages payable			690						1,095
Current regulatory liabilities			219						113
Other current liabilities			630						568
Total current liabilities			3,145						2,826
Long-term Debt, Net			12,563						12,562
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net			3,550						3,499
Regulatory liabilities			5,841						5,848
Asset retirement obligations			769						757
Other deferred credits and liabilities			394						414
Total deferred credits and other liabilities			10,554						10,518
Shareholders’ Equity:
Common stock			3						3
Other paid-in capital, principally premium on common stock			6,507						6,502
Retained earnings			3,282						3,182
Accumulated other comprehensive income			14						13
Total shareholders’ equity			9,806						9,700
Noncontrolling Interests			129						129
Total equity			9,935						9,829
TOTAL LIABILITIES AND EQUITY			$	36,197					$	35,735

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

			Three Months Ended March 31,
			2022						2021
Cash Flows From Operating Activities:
Net income			$	253					$	235
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			324						295
Amortization of nuclear fuel			22						—
Amortization of debt issuance costs and premium/discounts			4						5
Deferred income taxes and investment tax credits, net			31						26
Allowance for equity funds used during construction			(8)						(7)
Stock-based compensation costs			4						6
Other			11						8
Changes in assets and liabilities			(253)						(603)
Net cash provided by (used in) operating activities			388						(35)
Cash Flows From Investing Activities:
Capital expenditures			(774)						(887)
Nuclear fuel expenditures			(16)						(1)
Purchases of securities – nuclear decommissioning trust fund			(97)						(152)
Sales and maturities of securities – nuclear decommissioning trust fund			92						150
Other			15						1
Net cash used in investing activities			(780)						(889)
Cash Flows From Financing Activities:
Dividends on common stock			(152)						(140)
Dividends paid to noncontrolling interest holders			(1)						(2)
Short-term debt, net			555						399
Issuances of long-term debt			—						450
Issuances of common stock			5						125
Redemptions of Ameren Illinois preferred stock			—						(13)
Employee payroll taxes related to stock-based compensation			(16)						(17)
Debt issuance costs			—						(3)
Other			—						(4)
Net cash provided by financing activities			391						795
Net change in cash, cash equivalents, and restricted cash			(1)						(129)
Cash, cash equivalents, and restricted cash at beginning of year			155						301
Cash, cash equivalents, and restricted cash at end of period			$	154					$	172