EX-99.2 3 q42024ex992earningsrelease.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 December 31,Year Ended December 31,
 2024202320242023
Operating Revenues:
Electric$1,620 $1,343 $6,540 $6,439 
Natural gas321 275 1,083 1,061 
Total operating revenues1,941 1,618 7,623 7,500 
Operating Expenses:
Fuel and purchased power527 294 1,681 1,812 
Natural gas purchased for resale106 75 320 355 
Other operations and maintenance514 498 1,969 1,866 
Depreciation and amortization465 363 1,590 1,387 
Taxes other than income taxes131 124 547 522 
Total operating expenses1,743 1,354 6,107 5,942 
Operating Income198 264 1,516 1,558 
Other Income, Net124 87 417 348 
Interest Charges171 153 663 566 
Income Before Income Taxes151 198 1,270 1,340 
Income Taxes (Benefit)(57)39 83 183 
Net Income208 159 1,187 1,157 
Less: Net Income Attributable to Noncontrolling Interests 1 1 5 5 
Net Income Attributable to Ameren Common Shareholders$207 $158 $1,182 $1,152 
Earnings per Common Share – Basic$0.77 $0.60 $4.43 $4.39 
Earnings per Common Share – Diluted$0.77 $0.60 $4.42 $4.38 
Weighted-average Common Shares Outstanding – Basic267.4 263.5 266.8 262.8 
Weighted-average Common Shares Outstanding – Diluted268.9 264.0 267.4 263.4 

                                                
AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)
December 31, 2024December 31, 2023
ASSETS
Current Assets:
Cash and cash equivalents$7 $25 
Accounts receivable - trade (less allowance for doubtful accounts)525 494 
Unbilled revenue346 319 
Miscellaneous accounts receivable96 106 
Inventories762 733 
Current regulatory assets366 365 
Other current assets162 139 
Total current assets2,264 2,181 
Property, Plant, and Equipment, Net36,304 33,776 
Investments and Other Assets:
Nuclear decommissioning trust fund1,342 1,150 
Goodwill411 411 
Regulatory assets2,397 1,810 
Pension and other postretirement benefits757 581 
Other assets1,123 921 
Total investments and other assets6,030 4,873 
TOTAL ASSETS$44,598 $40,830 
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt$317 $849 
Short-term debt1,143 536 
Accounts and wages payable1,059 1,136 
Interest accrued196 147 
Customer deposits223 176 
Other current liabilities475 501 
Total current liabilities3,413 3,345 
Long-term Debt, Net17,262 15,121 
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and production and investment tax credits, net4,474 4,176 
Regulatory liabilities5,897 5,512 
Asset retirement obligations822 772 
Other deferred credits and liabilities487 426 
Total deferred credits and other liabilities11,680 10,886 
Shareholders’ Equity:
Common stock3 3 
Other paid-in capital, principally premium on common stock7,513 7,216 
Retained earnings4,604 4,136 
Accumulated other comprehensive loss(6)(6)
Total shareholders’ equity12,114 11,349 
Noncontrolling Interests129 129 
Total equity12,243 11,478 
TOTAL LIABILITIES AND EQUITY$44,598 $40,830 

                                                
AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
 
 Year Ended December 31,
 20242023
Cash Flows From Operating Activities:
Net income $1,187 $1,157 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,524 1,432 
Amortization of nuclear fuel81 68 
Amortization of debt issuance costs and premium/discounts19 16 
Deferred income taxes and production and investment tax credits, net127 229 
Allowance for equity funds used during construction(76)(54)
Stock-based compensation costs28 26 
Other87 16 
Changes in assets and liabilities(214)(326)
Net cash provided by operating activities2,763 2,564 
Cash Flows From Investing Activities:
Capital expenditures(4,319)(3,597)
Nuclear fuel expenditures(91)(174)
Purchases of securities – nuclear decommissioning trust fund(584)(266)
Sales and maturities of securities – nuclear decommissioning trust fund564 240 
Other(26)(1)
Net cash used in investing activities(4,456)(3,798)
Cash Flows From Financing Activities:
Dividends on common stock(714)(662)
Dividends paid to noncontrolling interest holders(5)(5)
Short-term debt, net607 (533)
Maturities and extinguishment of long-term debt(893)(100)
Issuances of long-term debt2,535 2,295 
Issuances of common stock273 346 
Employee payroll taxes related to stock-based compensation(8)(20)
Debt issuance costs(31)(21)
Other(15)(10)
Net cash provided by financing activities1,749 1,290 
Net change in cash, cash equivalents, and restricted cash56 56 
Cash, cash equivalents, and restricted cash at beginning of year(a)
272 216 
Cash, cash equivalents, and restricted cash at end of year(b)
$328 $272 
(a)Includes $25 million of cash and cash equivalents and $247 million of restricted cash as of December 31, 2023.
(b)Includes $7 million of cash and cash equivalents and $321 million of restricted cash as of December 31, 2024.