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Income Taxes | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES IRA The IRA was enacted in August 2022, and includes various income tax provisions, among other things. The law extends federal production and investment tax credits for projects beginning construction through 2024 and allows for a 10% adder to the production and investment tax credits for siting projects at existing energy communities as defined in the law, which includes sites previously used for coal-fired generation. The law also creates new federal production and investment tax credits for projects placed in service after 2024. The federal production and investment tax credits will apply to renewable energy production and investments, along with certain nuclear energy production, and will be phased out beginning in 2033, at the earliest. The phase-out is triggered when greenhouse gas emissions from the electric generation industry are reduced by at least 75% from the annual 2022 emission rate or at the beginning of 2033, whichever is later. The law allows for transferability to an unrelated party for cash of certain tax credits generated after 2022. In addition, the new law imposes a 15% minimum tax on adjusted financial statement income, as defined in the law, assessed against corporations whose average annual adjusted financial statement income exceeds $1 billion for three consecutive preceding tax years, effective for tax years beginning after December 31, 2022. Once a corporation exceeds this three-year average annual adjusted financial statement income threshold, it will be subject to the minimum tax for all future tax years. Ameren is currently evaluating the IRA and guidance issued in connection with the IRA and does not expect to be subject to the minimum tax imposed by the IRA in 2023 and 2024. Implementation of the IRA provisions are subject to additional regulations, interpretations, amendments, or technical corrections that may be issued by the IRS or United States Department of Treasury. The following table presents the principal reasons for the difference between the effective income tax rate and the federal statutory corporate income tax rate for the years ended December 31, 2022, 2021, and 2020:
| Ameren Missouri |  | Ameren Illinois |  | Ameren |
2022 |  |  |  |  |  |
Federal statutory corporate income tax rate | 21 | % |  | 21 | % |  | 21 | % |
Increases (decreases) from: |  |  |  |  |  |
Amortization of excess deferred income taxes(a) | (15) |  |  | (2) |  |  | (8) |  |
Amortization of deferred investment tax credit | (1) |  |  | — |  |  | — |  |
Production and other tax credits(b) | (10) |  |  | — |  |  | (4) |  |
State tax | 3 |  |  | 7 |  |  | 5 |  |
Effective income tax rate | (2) | % |  | 26 | % |  | 14 | % |
2021 |  |  |  |  |  |
Federal statutory corporate income tax rate | 21 | % |  | 21 | % |  | 21 | % |
Increases (decreases) from: |  |  |  |  |  |
Amortization of excess deferred income taxes(a) | (15) |  |  | (3) |  |  | (8) |  |
Amortization of deferred investment tax credit | (1) |  |  | — |  |  | — |  |
Production and other tax credits(b) | (7) |  |  | — |  |  | (3) |  |
State tax | 3 |  |  | 7 |  |  | 5 |  |
Stock-based compensation | — |  |  | — |  |  | (1) |  |
Effective income tax rate | 1 | % |  | 25 | % |  | 14 | % |
2020 |  |  |  |  |  |
Federal statutory corporate income tax rate | 21 | % |  | 21 | % |  | 21 | % |
Increases (decreases) from: |  |  |  |  |  |
Amortization of excess deferred income taxes(a) | (16) |  |  | (3) |  |  | (9) |  |
Amortization of deferred investment tax credit | (1) |  |  | (1) |  |  | (1) |  |
State tax | 3 |  |  | 7 |  |  | 5 |  |
Stock-based compensation | — |  |  | — |  |  | (1) |  |
Effective income tax rate | 7 | % |  | 24 | % |  | 15 | % |
(a)Reflects the amortization of amounts resulting from the revaluation of deferred income taxes subject to regulatory ratemaking, which are being refunded to customers. Deferred income taxes are revalued when federal or state income tax rates change, and the offset to the revaluation of deferred income taxes subject to regulatory ratemaking is recorded to a regulatory asset or liability. (b)Includes credits associated with the High Prairie Renewable and Atchison Renewable energy centers. Ameren Missouri placed the High Prairie Renewable Energy Center in service in December 2020. Additionally, Ameren Missouri placed in service the wind turbines at its Atchison Renewable Energy Center throughout the first half of 2021. The benefit of the credits associated with Missouri renewable energy standard compliance is refunded to customers through the RESRAM. The following table presents the components of income tax expense (benefit) for the years ended December 31, 2022, 2021, and 2020:
| Ameren Missouri |  | Ameren Illinois |  | Other |  | Ameren
2022 |  |  |  |  |  |  |
Current taxes: |  |  |  |  |  |  |
Federal | $ | (26) |  |  | $ | 46 |  |  | $ | (15) |  |  | $ | 5 |
State | (5) |  |  | 16 |  |  | (10) |  |  | 1 |
Deferred taxes: |  |  |  |  |  |  |
Federal | 93 |  |  | 82 |  |  | 19 |  |  | 194 |
State | 18 |  |  | 48 |  |  | 14 |  |  | 80 |
Amortization of excess deferred income taxes | (86) |  |  | (13) |  |  | (1) |  |  | (100) |
Amortization of deferred investment tax credits | (4) |  |  | — |  |  | — |  |  | (4) |
Total income tax expense (benefit) | $ | (10) |  |  | $ | 179 |  |  | $ | 7 |  |  | $ | 176 |
2021 |  |  |  |  |  |  |
Current taxes: |  |  |  |  |  |  |
Federal | $ | — |  |  | $ | (15) |  |  | $ | 22 |  |  | $ | 7 |
State | — |  |  | (7) |  |  | 1 |  |  | (6) |
Deferred taxes: |  |  |  |  |  |  |
Federal | 65 |  |  | 120 |  |  | (15) |  |  | 170 |
State | 23 |  |  | 59 |  |  | 4 |  |  | 86 |
Amortization of excess deferred income taxes | (81) |  |  | (14) |  |  | (1) |  |  | (96) |
Amortization of deferred investment tax credits | (4) |  |  | — |  |  | — |  |  | (4) |
Total income tax expense | $ | 3 |  |  | $ | 143 |  |  | $ | 11 |  |  | $ | 157 |
2020 |  |  |  |  |  |  |
Current taxes: |  |  |  |  |  |  |
Federal | $ | 14 |  |  | $ | 12 |  |  | $ | (24) |  |  | $ | 2 |
State | 3 |  |  | (6) |  |  | 8 |  |  | 5 |
Deferred taxes: |  |  |  |  |  |  |
Federal | 82 |  |  | 81 |  |  | 24 |  |  | 187 |
State | 15 |  |  | 52 |  |  | (10) |  |  | 57 |
Amortization of excess deferred income taxes | (75) |  |  | (15) |  |  | (1) |  |  | (91) |
Amortization of deferred investment tax credits | (5) |  |  | — |  |  | — |  |  | (5) |
Total income tax expense (benefit) | $ | 34 |  |  | $ | 124 |  |  | $ | (3) |  |  | $ | 155 |
The following table presents the accumulated deferred income tax assets and liabilities recorded as a result of temporary differences and accumulated deferred investment tax credits at December 31, 2022 and 2021:
| Ameren Missouri |  | Ameren Illinois |  | Other |  | Ameren
2022 |  |  |  |  |  |  |
Accumulated deferred income taxes, net liability (asset): |  |  |  |  |  |  |
Plant-related | $ | 2,297 |  |  | $ | 1,880 |  |  | $ | 239 |  |  | $ | 4,416 |
Regulatory assets and liabilities, net | (233) |  |  | (193) |  |  | (23) |  |  | (449) |
Deferred employee benefit costs | (55) |  |  | 28 |  |  | (43) |  |  | (70) |
Tax carryforwards | (122) |  |  | (34) |  |  | (72) |  |  | (228) |
Other | 70 |  |  | 18 |  |  | 22 |  |  | 110 |
Total net accumulated deferred income tax liabilities (assets) | 1,957 |  |  | 1,699 |  |  | 123 |  |  | 3,779 |
Accumulated deferred investment tax credits | 25 |  |  | — |  |  | — |  |  | 25 |
Accumulated deferred income taxes and investment tax credits | $ | 1,982 |  |  | $ | 1,699 |  |  | $ | 123 |  |  | $ | 3,804 |
2021 |  |  |  |  |  |  |
Accumulated deferred income taxes, net liability (asset): |  |  |  |  |  |  |
Plant-related | $ | 2,188 |  |  | $ | 1,715 |  |  | $ | 226 |  |  | $ | 4,129 |
Regulatory assets and liabilities, net | (259) |  |  | (199) |  |  | (25) |  |  | (483) |
Deferred employee benefit costs | (52) |  |  | 17 |  |  | (53) |  |  | (88) |
Tax carryforwards | (68) |  |  | (46) |  |  | (84) |  |  | (198) |
Other | 13 |  |  | 71 |  |  | 25 |  |  | 109 |
Total net accumulated deferred income tax liabilities (assets) | 1,822 |  |  | 1,558 |  |  | 89 |  |  | 3,469 |
Accumulated deferred investment tax credits | 30 |  |  | — |  |  | — |  |  | 30 |
Accumulated deferred income taxes and investment tax credits | $ | 1,852 |  |  | $ | 1,558 |  |  | $ | 89 |  |  | $ | 3,499 |
The following table presents the components of accumulated deferred income tax assets relating to net operating loss carryforwards and tax credit carryforwards at December 31, 2022 and 2021:
| Ameren Missouri |  | Ameren Illinois |  | Other |  | Ameren
2022 |  |  |  |  |  |  |
Net operating loss carryforwards: |  |  |  |  |  |  |
Federal(a) | $ | 3 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 11 |
State(b) | 1 |  |  | 26 |  |  | 9 |  |  | 36 |
Total net operating loss carryforwards | $ | 4 |  |  | $ | 30 |  |  | $ | 13 |  |  | $ | 47 |
Tax credit carryforwards: |  |  |  |  |  |  |
Federal(c) | $ | 118 |  |  | $ | 3 |  |  | $ | 55 |  |  | $ | 176 |
State(d) | — |  |  | 1 |  |  | 4 |  |  | 5 |
Total tax credit carryforwards | $ | 118 |  |  | $ | 4 |  |  | $ | 59 |  |  | $ | 181 |
2021 |  |  |  |  |  |  |
Net operating loss carryforwards: |  |  |  |  |  |  |
Federal | $ | 2 |  |  | $ | 17 |  |  | $ | 15 |  |  | $ | 34 |
State | 1 |  |  | 25 |  |  | 5 |  |  | 31 |
Total net operating loss carryforwards | $ | 3 |  |  | $ | 42 |  |  | $ | 20 |  |  | $ | 65 |
Tax credit carryforwards: |  |  |  |  |  |  |
Federal | $ | 65 |  |  | $ | 3 |  |  | $ | 58 |  |  | $ | 126 |
State | — |  |  | 1 |  |  | 6 |  |  | 7 |
Total tax credit carryforwards | $ | 65 |  |  | $ | 4 |  |  | $ | 64 |  |  | $ | 133 |
(a)Will not expire. (b)Will expire between 2032 and 2041. (c)Will expire between 2030 and 2042. (d)Will expire between 2023 and 2027. Uncertain Tax Positions As of December 31, 2022 and 2021, the Ameren Companies did not record any uncertain tax positions. Ameren is a part of the IRS’s compliance assurance process program, which involves real-time review of compliance with federal income tax law. State income tax returns are generally subject to examination for a period of three years after filing. The state impact of any federal changes remains subject to examination by various states for up to one year after formal notification to the states. Ameren’s federal tax returns for the 2019, 2020, 2021, and 2022 tax years are open, but, at the time of this filing, the Ameren Companies do not have material income tax issues under examination, administrative appeals, or litigation. Ameren Missouri has an uncertain tax position tracker. Under Ameren Missouri’s regulatory framework, uncertain tax positions do not reduce Ameren Missouri’s electric rate base. When an uncertain income tax position liability is resolved, the MoPSC requires, through the uncertain tax position tracker, the creation of a regulatory asset or regulatory liability to reflect the time value, with a return at the applicable WACC included in each of the electric rate orders in effect before the tax position was resolved, of the difference between the uncertain tax position liability that was excluded from rate base and the final tax liability. The resulting regulatory asset or liability will affect earnings in the year it is created. It will then be amortized over three years, beginning on the effective date of new rates established in the next electric service regulatory rate review.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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