EX-99.2 3 q22024ex992earningsrelease.htm EX-99.2

Document

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Operating Revenues:
Electric			$	1,521					$	1,585					$	2,885					$	3,175
Natural gas			172						175						624						647
Total operating revenues			1,693						1,760						3,509						3,822
Operating Expenses:
Fuel and purchased power			327						480						655						1,088
Natural gas purchased for resale			33						42						184						250
Other operations and maintenance			465						450						935						898
Depreciation and amortization			376						335						737						655
Taxes other than income taxes			131						124						266						251
Total operating expenses			1,332						1,431						2,777						3,142
Operating Income			361						329						732						680
Other Income, Net			103						82						192						160
Interest Charges			165						134						319						261
Income Before Income Taxes			299						277						605						579
Income Taxes			39						38						83						75
Net Income			260						239						522						504
Less: Net Income Attributable to Noncontrolling Interests			2						2						3						3
Net Income Attributable to Ameren Common Shareholders			$	258					$	237					$	519					$	501
Earnings per Common Share – Basic			$	0.97					$	0.90					$	1.95					$	1.91
Earnings per Common Share – Diluted			$	0.97					$	0.90					$	1.95					$	1.90
Weighted-average Common Shares Outstanding – Basic			266.7						262.6						266.5						262.4
Weighted-average Common Shares Outstanding – Diluted			266.8						263.2						266.8						263.2

AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

			June 30, 2024						December 31, 2023
ASSETS
Current Assets:
Cash and cash equivalents			$	19					$	25
Accounts receivable - trade (less allowance for doubtful accounts)			514						494
Unbilled revenue			407						319
Miscellaneous accounts receivable			62						106
Inventories			740						733
Current regulatory assets			345						365
Other current assets			130						139
Total current assets			2,217						2,181
Property, Plant, and Equipment, Net			34,873						33,776
Investments and Other Assets:
Nuclear decommissioning trust fund			1,266						1,150
Goodwill			411						411
Regulatory assets			1,952						1,810
Pension and other postretirement benefits			566						581
Other assets			1,049						921
Total investments and other assets			5,244						4,873
TOTAL ASSETS			$	42,334					$	40,830
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt			$	799					$	849
Short-term debt			691						536
Accounts and wages payable			774						1,136
Interest accrued			177						147
Customer deposits			197						176
Other current liabilities			655						501
Total current liabilities			3,293						3,345
Long-term Debt, Net			16,280						15,121
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net			4,325						4,176
Regulatory liabilities			5,531						5,512
Asset retirement obligations			791						772
Other deferred credits and liabilities			446						426
Total deferred credits and other liabilities			11,093						10,886
Shareholders’ Equity:
Common stock			3						3
Other paid-in capital, principally premium on common stock			7,246						7,216
Retained earnings			4,299						4,136
Accumulated other comprehensive loss			(9)						(6)
Total shareholders’ equity			11,539						11,349
Noncontrolling Interests			129						129
Total equity			11,668						11,478
TOTAL LIABILITIES AND EQUITY			$	42,334					$	40,830

AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

			Six Months Ended June 30,
			2024						2023
Cash Flows From Operating Activities:
Net income			$	522					$	504
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			760						703
Amortization of nuclear fuel			38						36
Amortization of debt issuance costs and premium/discounts			9						8
Deferred income taxes and investment tax credits, net			76						66
Allowance for equity funds used during construction			(25)						(23)
Stock-based compensation costs			14						14
Other			13						(19)
Changes in assets and liabilities			(358)						(178)
Net cash provided by operating activities			1,049						1,111
Cash Flows From Investing Activities:
Capital expenditures			(1,892)						(1,822)
Nuclear fuel expenditures			(37)						(50)
Purchases of securities – nuclear decommissioning trust fund			(323)						(81)
Sales and maturities of securities – nuclear decommissioning trust fund			309						65
Other			11						(1)
Net cash used in investing activities			(1,932)						(1,889)
Cash Flows From Financing Activities:
Dividends on common stock			(356)						(330)
Dividends paid to noncontrolling interest holders			(3)						(3)
Short-term debt, net			156						260
Maturities of long-term debt			(350)						(100)
Issuances of long-term debt			1,470						997
Issuances of common stock			21						16
Employee payroll taxes related to stock-based compensation			(8)						(20)
Debt issuance costs			(18)						(9)
Other			—						(3)
Net cash provided by financing activities			912						808
Net change in cash, cash equivalents, and restricted cash			29						30
Cash, cash equivalents, and restricted cash at beginning of year(a)			272						216
Cash, cash equivalents, and restricted cash at end of period(b)			$	301					$	246

(a)Includes $25 million of cash and cash equivalents and $247 million of restricted cash as of December 31, 2023.

(a)Includes $19 million of cash and cash equivalents and $282 million of restricted cash as of June 30, 2024.