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Supplemental Information | 9 Months Ended
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Sep. 30, 2024
Supplemental Information [Abstract] |
Supplemental Information | SUPPLEMENTAL INFORMATION Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets and the statements of cash flows at September 30, 2024, and December 31, 2023:
| September 30, 2024 |  |  | December 31, 2023
Ameren |  | Ameren Missouri |  | Ameren Illinois |  |  | Ameren |  | Ameren Missouri |  | Ameren Illinois
“Cash and cash equivalents” | $ | 17 |  |  | $ | — |  |  | $ | — |  |  |  | $ | 25 |  |  | $ | — |  |  | $ | — |
Restricted cash included in “Other current assets” | 15 |  |  | 5 |  |  | 6 |  |  |  | 13 |  |  | 5 |  |  | 5 |
Restricted cash included in “Other assets” | 287 |  |  | — |  |  | 287 |  |  |  | 229 |  |  | — |  |  | 229 |
Restricted cash included in “Nuclear decommissioning trust fund” | 5 |  |  | 5 |  |  | — |  |  |  | 5 |  |  | 5 |  |  | — |
Total cash, cash equivalents, and restricted cash | $ | 324 |  |  | $ | 10 |  |  | $ | 293 |  |  |  | $ | 272 |  |  | $ | 10 |  |  | $ | 234 |
Restricted cash included in “Other current assets” primarily represents funds held by an irrevocable Voluntary Employee Beneficiary Association (VEBA) trust, which provides health care benefits for active employees. Restricted cash included in “Other assets” on Ameren’s and Ameren Illinois’ balance sheets primarily represents amounts collected under a cost recovery rider restricted for use in the procurement of renewable energy credits and amounts in a trust fund restricted for the use of funding certain asbestos-related claims. Accounts Receivable “Accounts receivable – trade” on Ameren’s and Ameren Illinois’ balance sheets include certain receivables purchased at a discount from alternative retail electric suppliers that elect to participate in the utility consolidated billing program. At September 30, 2024, and December 31, 2023, “Other current liabilities” on Ameren’s and Ameren Illinois’ balance sheets included payables for purchased receivables of $53 million and $42 million, respectively. The following table provides a reconciliation of the beginning and ending amount of the allowance for doubtful accounts for the three and nine months ended September 30, 2024 and 2023:
| Three Months |  | Nine Months
| 2024 |  | 2023 |  |  | 2024 |  | 2023 |
Ameren: |  |  |  |  |  |  |  |  |
Beginning of period | $ | 37 |  |  | $ | 39 |  |  |  | $ | 30 |  |  | $ | 31 |  |
Bad debt expense | 12 |  |  | 18 |  |  |  | 28 |  |  | 41 |  |
Charged to other accounts(a) | 2 |  |  | 2 |  |  |  | 6 |  |  | 3 |  |
Net write-offs | (20) |  |  | (26) |  |  |  | (33) |  |  | (42) |  |
End of period | $ | 31 |  |  | $ | 33 |  |  |  | $ | 31 |  |  | $ | 33 |  |
Ameren Missouri: |  |  |  |  |  |  |  |  |
Beginning of period | $ | 12 |  |  | $ | 12 |  |  |  | $ | 12 |  |  | $ | 13 |  |
Bad debt expense | 3 |  |  | 5 |  |  |  | 8 |  |  | 9 |  |
Net write-offs | (3) |  |  | (5) |  |  |  | (8) |  |  | (10) |  |
End of period | $ | 12 |  |  | $ | 12 |  |  |  | $ | 12 |  |  | $ | 12 |  |
Ameren Illinois:(b) |  |  |  |  |  |  |  |  |
Beginning of period | $ | 25 |  |  | $ | 27 |  |  |  | $ | 18 |  |  | $ | 18 |  |
Bad debt expense | 9 |  |  | 13 |  |  |  | 20 |  |  | 32 |  |
Charged to other accounts(a) | 2 |  |  | 2 |  |  |  | 6 |  |  | 3 |  |
Net write-offs | (17) |  |  | (21) |  |  |  | (25) |  |  | (32) |  |
End of period | $ | 19 |  |  | $ | 21 |  |  |  | $ | 19 |  |  | $ | 21 |  |
(a)Amounts associated with the allowance for doubtful accounts related to receivables purchased by Ameren Illinois from alternative retail electric suppliers, as required by the Illinois Public Utilities Act. (b)Ameren Illinois has rate-adjustment mechanisms that allow it to recover the difference between its actual net bad debt write-offs under GAAP, including those associated with receivables purchased from alternative retail electric suppliers, and the amount of net bad debt write-offs included in its base rates. The table above does not include the impact related to the riders. Leases Ameren and Ameren Missouri primarily lease rail cars and land related to solar generation facilities under operating lease arrangements. The land leases are related to the acquisitions of the Cass County Solar Project and Boomtown Solar Project. See Note 2 – Rate and Regulatory Matters for additional information on the acquisitions. Rail cars are leased for the transportation of coal to its energy centers. For rail car leases, we account for the lease and non-lease components as a single lease component, and for the land leases related to solar generation projects, we account for the components separately for each agreement. Certain of the land leases related to the acquisitions of the Cass County Solar Project and Boomtown Solar Project have options to extend or terminate those leases. Renewal options are not expected to be exercised and are not included in any of the lease measurements used to record the leased assets and liabilities in the tables below. No termination options have been included in any of the lease measurements used to record the leased assets and liabilities in the tables below. The following table provides supplemental balance sheet information related to operating leases as of September 30, 2024:
| Ameren |  | Ameren Missouri |  |
Other assets | $ | 38 |  |  | $ | 35 |  |  |
Other current liabilities | 6 |  |  | 5 |  |  |
Other deferred credits and liabilities | 32 |  |  | 30 |  |  |
Weighted average remaining operating lease term | 23 years |  | 24 years |  |
Weighted average discount rate(a) | 5.4 | % |  | 5.4 | % |  |
(a)As an implicit rate is not readily determinable under most of our lease agreements, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use an implicit rate when readily determinable. The following table presents Ameren’s and Ameren Missouri’s remaining maturities of operating lease liabilities as of September 30, 2024:
| Ameren |  | Ameren Missouri
2024 | $ | 2 |  |  | $ | 2 |
2025 | 6 |  |  | 5 |
2026 | 3 |  |  | 2 |
2027 | 2 |  |  | 2 |
2028 | 2 |  |  | 2 |
Thereafter | 55 |  |  | 53 |
Total lease payments | $ | 70 |  |  | $ | 66 |
Less imputed interest | 32 |  |  | 31 |
Total | $ | 38 |  |  | $ | 35 |
Supplemental Cash Flow Information The following table provides noncash financing and investing activity excluded from the statements of cash flows for the nine months ended September 30, 2024 and 2023:
| September 30, 2024 |  | September 30, 2023
Ameren | Ameren Missouri |  | Ameren Illinois | Ameren | Ameren Missouri | Ameren Illinois
Investing: |  |  |  |  |  |  |  |
Accrued capital expenditures, including nuclear fuel expenditures | $ | 404 |  | $ | 257 |  |  | $ | 127 |  |  | $ | 518 |  | $ | 246 |  | $ | 237 |
Net realized and unrealized gain – nuclear decommissioning trust fund | 163 |  | 163 |  |  | — |  |  | 66 |  | 66 |  | — |
Return of investment in industrial development revenue bonds(a) | — |  | — |  |  | — |  |  | 240 |  | 240 |  | — |
Financing: |  |  |  |  |  |  |  |
Issuance of common stock for stock-based compensation | $ | 16 |  | $ | — |  |  | $ | — |  |  | $ | 37 |  | $ | — |  | $ | — |
Issuance of common stock under the DRPlus | 7 |  | — |  |  | — |  |  | 7 |  | — |  | — |
Termination of a financing obligation(a) | — |  | — |  |  | — |  |  | 240 |  | 240 |  | — |
(a)In January 2023, Ameren Missouri and Audrain County mutually agreed to terminate a financing obligation agreement related to the CT energy center in Audrain County, which was scheduled to expire in December 2023. No cash was exchanged in connection with the termination of the agreement as the $240 million principal amount of the financing obligation due from Ameren Missouri was equal to the amount of bond service payments due to Ameren Missouri. Asset Retirement Obligations The following table provides a reconciliation of the beginning and ending carrying amount of AROs for the nine months ended September 30, 2024:
| Ameren Missouri |  | Ameren Illinois |  |  |  | Ameren |
Balance at December 31, 2023 | $ | 787 |  | (a) | $ | 4 |  |  |  | (b) | $ | 791 |  | (a)
Liabilities incurred | 17 |  | (c) | — |  |  |  |  | 17 |  | (c)
Liabilities settled | (9) |  |  | (1) |  |  |  |  | (10) |  |
Accretion | 26 |  | (d) | — |  |  |  |  | 26 |  | (d)
Change in estimates | (7) |  |  | — |  |  |  |  | (7) |  |
Balance at September 30, 2024 | $ | 814 |  | (a) | $ | 3 |  |  |  | (b) | $ | 817 |  | (a)
(a)Balance included $19 million in “Other current liabilities” on the balance sheet as of both September 30, 2024, and December 31, 2023. (b)Included in “Other deferred credits and liabilities” on the balance sheet. (c)In June and September 2024, Ameren and Ameren Missouri recorded an ARO related to the decommissioning for the Cass County Solar Project and the Boomtown Solar Project, respectively. In addition, as a result of the 2024 CCR Rule, Ameren and Ameren Missouri recorded an increase to their AROs associated with CCR storage facilities. See Note 9 – Commitments and Contingencies for additional information. (d)Accretion expense attributable to Ameren Missouri was recorded as a decrease to regulatory liabilities. Stock-based Compensation In the first quarter of 2024, Ameren granted 359,133 performance share units with a grant date fair value of $21 million and 153,887 restricted share units with a grant date fair value of $11 million. Awards vest approximately 3 years after the grant date based on continued employment or on a pro-rata basis upon death or eligible retirement. The performance share units vest based on the achievement of certain specified market performance measures (307,816 performance share units) or clean energy transition targets (51,317 performance share units). The exact number of shares issued pursuant to a performance share unit varies from 0% to 200% of the target award, depending on actual company performance relative to the performance goals. For the nine months ended September 30, 2024 and 2023, excess tax benefits (deficiencies) associated with the settlement of stock-based compensation awards increased income tax expense by $1 million and reduced income tax expense by $6 million, respectively. Deferred Compensation At September 30, 2024, and December 31, 2023, the present value of benefits to be paid for deferred compensation obligations was $81 million and $85 million, respectively, which was primarily reflected in “Other deferred credits and liabilities” on Ameren’s consolidated balance sheet. Operating Revenues As of September 30, 2024 and 2023, our remaining performance obligations for contracts with a term greater than one year were immaterial. The Ameren Companies elected not to disclose the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of the end of the reporting period for contracts with an initial expected term of one year or less. See Note 14 – Segment Information for disaggregated revenue information. Excise Taxes Ameren Missouri and Ameren Illinois collect from their customers excise taxes, including municipal and state excise taxes and gross receipts taxes that are levied on the sale or distribution of natural gas and electricity. The following table presents the excise taxes recorded on a gross basis in “Operating Revenues – Electric,” “Operating Revenues – Natural gas” and “Operating Expenses – Taxes other than income taxes” on the statements of income for the three and nine months ended September 30, 2024 and 2023:
| Three Months |  | Nine Months
| 2024 |  | 2023 |  | 2024 |  | 2023
Ameren Missouri | $ | 60 |  |  | $ | 60 |  |  | $ | 136 |  |  | $ | 133 |
Ameren Illinois | 29 |  |  | 27 |  |  | 94 |  |  | 90 |
Ameren | $ | 89 |  |  | $ | 87 |  |  | $ | 230 |  |  | $ | 223 |
Earnings per Share The following table reconciles the basic weighted-average number of common shares outstanding to the diluted weighted-average number of common shares outstanding for the three and nine months ended September 30, 2024 and 2023:
| Three Months |  | Nine Months
| 2024 |  | 2023 |  | 2024 |  | 2023
Weighted-average Common Shares Outstanding – Basic | 266.8 |  |  | 262.8 |  |  | 266.6 |  |  | 262.5 |
Assumed settlement of performance share units and restricted stock units | 0.4 |  |  | 0.6 |  |  | 0.3 |  |  | 0.7 |
Dilutive effect of forward sale agreements | 0.1 |  |  | — |  |  | — |  |  | — |
Weighted-average Common Shares Outstanding – Diluted(a) | 267.3 |  |  | 263.4 |  |  | 266.9 |  |  | 263.2 |
(a)There was an immaterial number of anti-dilutive performance share units excluded from the earnings per diluted share calculations for the three and nine months ended September 30, 2024 and 2023. Outstanding forward sale agreements as of September 30, 2024 that were anti-dilutive for the three and nine months ended September 30, 2024 were excluded from the earnings per diluted share calculation as calculated using the treasury stock method. The outstanding forward sale agreements as of September 30, 2023 were anti-dilutive for the three and nine months ended September 30, 2023, and were excluded from the earnings per diluted share calculation as calculated using the treasury stock method. For additional information about the outstanding forward sale agreements, see Note 4 – Long-term Debt and Equity Financings.

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