ST. LOUIS, Feb. 21, 2014 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced 2013 net income from continuing
operations of $512 million, or
$2.10 per diluted share, compared to
2012 net income from continuing operations of $516 million, or $2.13 per diluted share. As a result of Ameren's
divestiture of its merchant generation business, the results of
this business are classified as discontinued operations in the
financial statements.
The decrease in 2013 earnings from continuing operations,
compared to 2012, reflected 2013 nuclear refueling outage expenses,
versus the prior year when there was no refueling outage, and
milder summer weather. The earnings comparison was positively
affected by increased rates for Missouri electric and Illinois transmission service and increased
Illinois electric delivery
earnings under formula ratemaking. Additional factors negatively
affecting the earnings comparison included charges in 2013 related
to Missouri and Illinois regulatory decisions and the absence
in 2013 of a benefit related to a 2012 Federal Energy Regulatory
Commission (FERC) decision.
"With the divestiture of our merchant generation business now
complete, we are solely focused on our rate-regulated utilities. In
2013, these continuing operations delivered improved earnings on a
weather-normalized basis despite a Callaway refueling outage and two regulatory
charges," said Thomas R. Voss,
chairman and CEO of Ameren Corporation. "Looking ahead, our
FERC-regulated transmission and Illinois energy delivery businesses are making
significant new investments to improve reliability and customers'
ability to manage their energy usage. Our capability to make such
investments is supported by modern, constructive regulatory
frameworks in these jurisdictions, and we expect these investments
to lead to solid earnings growth. In addition, we continue our work
to enhance the Missouri regulatory
framework to better support investment in that state's aging energy
infrastructure for the benefit of customers while managing the
business in a disciplined fashion, including aligning spending with
the existing regulatory framework."
Ameren recorded earnings from continuing operations of
$48 million, or 19 cents per share, for the fourth quarter of
2013, compared to $12 million, or
5 cents per share, for the fourth
quarter of 2012. The improvement in earnings reflected increased
rates for Missouri electric and
Illinois transmission service;
greater electric and gas sales volumes primarily resulting from
colder winter temperatures; and increased Illinois electric delivery earnings under
formula ratemaking. These positive factors were partially offset by
a fourth quarter 2013 charge related to the Illinois Commerce
Commission's (ICC) disallowance of certain debt redemption
costs.
Earnings from Continuing Operations Guidance
Ameren expects 2014 earnings to be in a range of $2.25 to $2.45 per share. Further, it expects
earnings per share to grow at a 7% to 10% compound annual rate
through 2018 using 2013 results from continuing operations as the
base. This growth is expected to be driven primarily by
infrastructure investments in FERC-regulated transmission and
Illinois energy delivery
services.
Ameren's earnings guidance assumes normal temperatures and is
subject to the effects of, among other things, changes in 30-year
U.S. Treasury bond yields; regulatory decisions and legislative
actions; energy center operations; energy, economic, capital and
credit market conditions; severe storms; unusual or otherwise
unexpected gains or losses; and other risks and uncertainties
outlined, or referred to, in the Forward-looking Statements section
of this press release.
Ameren Missouri Segment Results
Ameren Missouri segment 2013 earnings were $395 million, compared to 2012 earnings of
$416 million. The decrease in
earnings reflected 2013 Callaway refueling outage expenses,
compared to 2012 when there was no refueling outage, and milder
summer weather. The earnings comparison was positively affected by
an increase in rates for electric service, effective in
January 2013, and disciplined cost
management. Additional factors negatively affecting the earnings
comparison included a 2013 charge resulting from a Missouri Public
Service Commission decision related to the fuel adjustment clause
and the absence in 2013 of a benefit related to a 2012 FERC
decision.
Ameren Illinois Segment Results
Ameren Illinois segment 2013 earnings were $160 million, compared to 2012 earnings of
$141 million. The increase in
earnings reflected higher electric delivery earnings recognized
under formula ratemaking resulting from increased infrastructure
investment; a higher allowed return on equity due to higher 30-year
Treasury bond yields; and the absence in 2013 of a 2012
contribution required to implement formula ratemaking. The earnings
comparison also benefited from increased rates for transmission
service, effective in January 2013.
These positive factors were partially offset by a fourth quarter
2013 charge for the ICC's disallowance of certain debt redemption
costs.
Parent Company and Other
The parent company and other loss from continuing operations was
$43 million for 2013, compared to
$41 million for 2012. Parent company
and other results include interest expense and certain other costs
which were previously allocated to the merchant generation
business, as well as costs historically not allocated to Ameren's
business segments.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Friday, Feb. 21, to discuss 2013 earnings,
earnings guidance and other matters. Investors, the news media and
the public may listen to a live Internet broadcast of the call at
Ameren.com by clicking on "Q4 2013 Ameren Corporation Earnings
Conference Call," followed by the appropriate audio link. An
accompanying slide presentation will be available on Ameren's
website. This presentation will be posted in the "Investors"
section of the website under "Webcasts & Presentations." The
analyst call will be available for replay on the Internet for one
year. In addition, a telephone playback of the conference call will
be available beginning at approximately noon
Central Time from Feb. 21 through
Feb. 28 by dialing U.S. 877.660.6853 or international
201.612.7415, and entering ID number 13575772.
About Ameren
St. Louis-based Ameren
Corporation powers the quality of life for 2.4 million electric
customers and more than 900,000 natural gas customers in a
64,000-square-mile area through its Ameren Missouri and Ameren
Illinois rate-regulated utility subsidiaries. Ameren Illinois
provides electric and natural gas delivery service while Ameren
Missouri provides vertically integrated electric service, with
generating capacity of 10,300 megawatts, and natural gas delivery
service. Ameren Transmission of Illinois develops regional electric
transmission projects. Follow us on Twitter @AmerenCorp. For more
information, visit Ameren.com.
Forward-looking Statements
Statements in this release not based on historical facts are
considered "forward-looking" and, accordingly, involve risks and
uncertainties that could cause actual results to differ materially
from those discussed. Although such forward-looking statements have
been made in good faith and are based on reasonable assumptions,
there is no assurance that the expected results will be achieved.
These statements include (without limitation) statements as to
future expectations, beliefs, plans, strategies, objectives,
events, conditions, and financial performance. In connection with
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, we are providing this cautionary statement to
identify important factors that could cause actual results to
differ materially from those anticipated. The following factors, in
addition to those discussed under Risk Factors in Ameren's Form
10-K for the year ended December 31,
2012 and Ameren's Form 10-Q for the quarter ended
March 31, 2013, and elsewhere in this
release and in our other filings with the Securities and Exchange
Commission, could cause actual results to differ materially from
management expectations suggested in such forward-looking
statements:
- regulatory, judicial, or legislative actions, including changes
in regulatory policies and ratemaking determinations, such as
complaint cases filed by Noranda Aluminum, Inc. with the Missouri
Public Service Commission in February
2014 requesting a reduction in Ameren Missouri's electric
rates, including a reduction in its allowed return on equity, and
certain rate design changes; the outcome of Ameren Illinois' appeal
of the ICC's electric and natural gas rate orders issued in
December 2013; Ameren Illinois'
request for rehearing of a July 2012
FERC order regarding the inclusion of acquisition premiums in its
transmission rates; and future regulatory, judicial, or legislative
actions that seek to change regulatory recovery mechanisms;
- the effect of Ameren Illinois participating in a
performance-based formula ratemaking process under the Illinois
Energy Infrastructure Modernization Act (IEIMA), including the
direct relationship between Ameren Illinois' return on common
equity and the 30-year United States Treasury bond yields, the
related financial commitments required by the IEIMA, and the
resulting uncertain impact on the financial condition, results of
operations and liquidity of Ameren Illinois;
- the effects of Ameren Illinois' expected participation,
beginning in 2015, in the regulatory framework provided by the
state of Illinois' Natural Gas
Consumer, Safety and Reliability Act, which allows for the use of a
rider to recover costs of certain natural gas infrastructure
investments made between rate cases;
- the effects of, or changes to, the Illinois power procurement process;
- the effects of increased competition in the future due to,
among other things, deregulation of certain aspects of our business
at either the state or federal levels, and the implementation of
deregulation;
- changes in laws and other governmental actions, including
monetary, fiscal, and tax policies;
- the effects on demand for our services resulting from
technological advances, including advances in energy efficiency and
distributed generation sources, which generate electricity at the
site of consumption;
- increasing capital expenditure and operating expense
requirements and our ability to timely recover these costs;
- our ability to reduce costs that are not recoverable from
customers;
- the cost and availability of fuel such as coal, natural gas,
and enriched uranium used to produce electricity; the cost and
availability of purchased power and natural gas for distribution;
and the level and volatility of future market prices for such
commodities, including our ability to recover the costs for such
commodities;
- the effectiveness of our risk management strategies and the use
of financial and derivative instruments;
- business and economic conditions, including their impact on
interest rates, bad debt expense, and demand for our products;
- disruptions of the capital markets, deterioration in our credit
metrics, or other events that may make our access to necessary
capital, including short-term credit and liquidity, impossible,
more difficult, or more costly;
- our assessment of our liquidity;
- the impact of the adoption of new accounting guidance and the
application of appropriate technical accounting rules and
guidance;
- actions of credit rating agencies and the effects of such
actions;
- the impact of weather conditions and other natural phenomena on
us and our customers, including the impact of system outages;
- generation, transmission, and distribution asset construction,
installation, performance, and cost recovery;
- the effects of our increasing investment in electric
transmission projects and uncertainty as to whether we will achieve
our expected returns in a timely fashion, if at all;
- the extent to which Ameren Missouri prevails in its claims
against insurers in connection with its Taum Sauk pumped-storage
hydroelectric energy center incident;
- the extent to which Ameren Missouri is permitted by its
regulators to recover in rates the investments it made in
connection with additional nuclear generation at its Callaway
Energy Center;
- operation of Ameren Missouri's Callaway Energy Center,
including planned and unplanned outages, and future decommissioning
costs;
- the effects of strategic initiatives, including mergers,
acquisitions and divestitures, and any related tax
implications;
- the impact of current environmental regulations on utilities
and power generating companies and new, more stringent or changing
requirements, including those related to greenhouse gases, other
emissions and discharges, cooling water intake structures, coal
combustion residuals, and energy efficiency, that are enacted over
time and that could limit or terminate the operation of certain of
our energy centers, increase our costs, result in an impairment of
our assets, result in sales of our assets, reduce our customers'
demand for electricity or natural gas, or otherwise have a negative
financial effect;
- the impact of complying with renewable energy portfolio
requirements in Missouri;
- labor disputes, workforce reductions, future wage and employee
benefits costs, including changes in discount rates and returns on
benefit plan assets;
- the inability of our counterparties to meet their obligations
with respect to contracts, credit agreements, and financial
instruments;
- the cost and availability of transmission capacity for the
energy generated by Ameren's and Ameren Missouri's energy centers
or required to satisfy energy sales made by Ameren or Ameren
Missouri;
- the inability of Dynegy Inc. and Illinois Power Holdings, LLC
(IPH) to satisfy their indemnities and other obligations to Ameren
in connection with the divestiture of New Ameren Energy Resources
Generating Company, LLC to IPH;
- legal and administrative proceedings; and
- acts of sabotage, war, terrorism, cybersecurity attacks or
intentionally disruptive acts.
Given these uncertainties, undue reliance should not be placed
on these forward-looking statements. Except to the extent required
by the federal securities laws, we undertake no obligation to
update or revise publicly any forward-looking statements to reflect
new information or future events.
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
STATEMENT OF INCOME
|
(Unaudited, in
millions, except per share amounts)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
December
31,
|
|
December
31,
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$1,009
|
|
$
959
|
|
$4,832
|
|
$4,857
|
Gas
|
313
|
|
299
|
|
1,006
|
|
924
|
Total operating
revenues
|
1,322
|
|
1,258
|
|
5,838
|
|
5,781
|
|
|
|
|
|
|
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
197
|
|
164
|
|
845
|
|
714
|
Purchased
power
|
102
|
|
150
|
|
502
|
|
780
|
Gas purchased for
resale
|
182
|
|
168
|
|
526
|
|
472
|
Other operations and
maintenance
|
388
|
|
387
|
|
1,617
|
|
1,511
|
Depreciation and
amortization
|
178
|
|
171
|
|
706
|
|
673
|
Taxes other than
income taxes
|
104
|
|
106
|
|
458
|
|
443
|
Total operating
expenses
|
1,151
|
|
1,146
|
|
4,654
|
|
4,593
|
Operating
Income
|
171
|
|
112
|
|
1,184
|
|
1,188
|
|
|
|
|
|
|
|
|
Other Income and
Expenses:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
18
|
|
17
|
|
69
|
|
70
|
Miscellaneous
expense
|
8
|
|
9
|
|
26
|
|
37
|
Total other
income
|
10
|
|
8
|
|
43
|
|
33
|
|
|
|
|
|
|
|
|
Interest
Charges
|
109
|
|
97
|
|
398
|
|
392
|
|
|
|
|
|
|
|
|
Income Before
Income Taxes
|
72
|
|
23
|
|
829
|
|
829
|
|
|
|
|
|
|
|
|
Income
Taxes
|
23
|
|
10
|
|
311
|
|
307
|
|
|
|
|
|
|
|
|
Income from
Continuing Operations
|
49
|
|
13
|
|
518
|
|
522
|
|
|
|
|
|
|
|
|
Loss from
Discontinued Operations, Net of Taxes
|
(11)
|
|
(1,168)
|
|
(223)
|
|
(1,496)
|
|
|
|
|
|
|
|
|
Net Income
(Loss)
|
38
|
|
(1,155)
|
|
295
|
|
(974)
|
|
|
|
|
|
|
|
|
Less: Net
Income (Loss) Attributable to Noncontrolling
Interests:
|
|
|
|
|
|
|
|
Continuing
Operations
|
1
|
|
1
|
|
6
|
|
6
|
Discontinued
Operations
|
-
|
|
-
|
|
-
|
|
(6)
|
|
|
|
|
|
|
|
|
Net Income (Loss)
Attributable to Ameren Corporation:
|
|
|
|
|
|
|
|
Continuing
Operations
|
48
|
|
12
|
|
512
|
|
516
|
Discontinued
Operations
|
(11)
|
|
(1,168)
|
|
(223)
|
|
(1,490)
|
|
|
|
|
|
|
|
|
Net Income (Loss)
Attributable to Ameren Corporation
|
$
37
|
|
$(1,156)
|
|
$
289
|
|
$
(974)
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
0.19
|
|
$
0.05
|
|
$
2.11
|
|
$
2.13
|
Discontinued
Operations
|
(0.04)
|
|
(4.81)
|
|
(0.92)
|
|
(6.14)
|
Earnings (Loss)
per Common Share – Basic
|
$
0.15
|
|
$
(4.76)
|
|
$
1.19
|
|
$ (4.01)
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
0.19
|
|
$
0.05
|
|
$
2.10
|
|
$
2.13
|
Discontinued
Operations
|
(0.04)
|
|
(4.81)
|
|
(0.92)
|
|
(6.14)
|
Earnings (Loss)
per Common Share – Diluted
|
$
0.15
|
|
$
(4.76)
|
|
$
1.18
|
|
$ (4.01)
|
|
|
|
|
|
|
|
|
Average Common
Shares Outstanding – Basic
|
242.6
|
|
242.6
|
|
242.6
|
|
242.6
|
Average Common
Shares Outstanding – Diluted
|
245.1
|
|
243.0
|
|
244.5
|
|
243.0
|
|
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
BALANCE SHEET
|
(Unaudited, in
millions)
|
|
|
|
|
|
December
31,
|
|
December
31,
|
|
2013
|
|
2012
|
|
|
|
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
30
|
|
$
184
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
404
|
|
354
|
Unbilled
revenue
|
304
|
|
291
|
Miscellaneous
accounts and notes receivable
|
196
|
|
71
|
Materials and
supplies
|
526
|
|
570
|
Current regulatory
assets
|
156
|
|
247
|
Current accumulated
deferred income taxes, net
|
106
|
|
170
|
Other current
assets
|
85
|
|
98
|
Assets of
discontinued operations
|
165
|
|
1,611
|
Total current
assets
|
1,972
|
|
3,596
|
Property and
Plant, Net
|
16,205
|
|
15,348
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
494
|
|
408
|
Goodwill
|
411
|
|
411
|
Intangible
assets
|
22
|
|
14
|
Regulatory
assets
|
1,240
|
|
1,786
|
Other
assets
|
698
|
|
667
|
Total investments and
other assets
|
2,865
|
|
3,286
|
TOTAL
ASSETS
|
$
21,042
|
|
$
22,230
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
534
|
|
$
355
|
Short-term
debt
|
368
|
|
-
|
Accounts and wages
payable
|
806
|
|
533
|
Taxes
accrued
|
55
|
|
49
|
Interest
accrued
|
86
|
|
89
|
Customer
deposits
|
105
|
|
107
|
Mark-to-market
derivative liabilities
|
52
|
|
92
|
Current regulatory
liabilities
|
216
|
|
100
|
Other current
liabilities
|
194
|
|
168
|
Liabilities of
discontinued operations
|
45
|
|
1,193
|
Total current
liabilities
|
2,461
|
|
2,686
|
Long-term Debt,
Net
|
5,504
|
|
5,802
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
3,166
|
|
3,186
|
Accumulated deferred
investment tax credits
|
63
|
|
70
|
Regulatory
liabilities
|
1,705
|
|
1,589
|
Asset retirement
obligations
|
369
|
|
349
|
Pension and other
postretirement benefits
|
466
|
|
1,138
|
Other deferred
credits and liabilities
|
622
|
|
643
|
Total deferred
credits and other liabilities
|
6,391
|
|
6,975
|
Ameren Corporation
Stockholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
2
|
Other paid-in
capital, principally premium on common stock
|
5,632
|
|
5,616
|
Retained
earnings
|
907
|
|
1,006
|
Accumulated other
comprehensive income (loss)
|
3
|
|
(8)
|
Total Ameren
Corporation stockholders' equity
|
6,544
|
|
6,616
|
Noncontrolling
Interests
|
142
|
|
151
|
Total
equity
|
6,686
|
|
6,767
|
TOTAL LIABILITIES
AND EQUITY
|
$
21,042
|
|
$
22,230
|
|
|
AMEREN CORPORATION
(AEE)
|
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in
millions)
|
|
|
|
|
|
Year
Ended
|
|
December
31,
|
|
2013
|
|
2012
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
(loss)
|
$
295
|
|
$ (974)
|
Loss from
discontinued operations, net of taxes
|
223
|
|
1,496
|
Adjustments to
reconcile net income (loss) to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
666
|
|
633
|
Amortization of
nuclear fuel
|
71
|
|
83
|
Amortization of debt
issuance costs and premium/discounts
|
24
|
|
20
|
Deferred income taxes
and investment tax credits, net
|
410
|
|
257
|
Allowance for equity
funds used during construction
|
(37)
|
|
(36)
|
Stock-based
compensation costs
|
27
|
|
29
|
Other
|
23
|
|
(7)
|
Changes in assets and
liabilities
|
(66)
|
|
(97)
|
Net cash provided by
operating activities - continuing operations
|
1,636
|
|
1,404
|
Net cash provided by
operating activities - discontinued operations
|
57
|
|
286
|
Net cash provided
by operating activities
|
1,693
|
|
1,690
|
|
|
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(1,379)
|
|
(1,063)
|
Nuclear fuel
expenditures
|
(45)
|
|
(91)
|
Purchases of
securities - nuclear decommissioning trust fund
|
(214)
|
|
(403)
|
Sales and maturities
of securities - nuclear decommissioning trust fund
|
196
|
|
384
|
Tax grants received
related to renewable energy properties
|
-
|
|
18
|
Other
|
2
|
|
2
|
Net cash used in
investing activities - continuing operations
|
(1,440)
|
|
(1,153)
|
Net cash used in
investing activities - discontinued operations
|
(283)
|
|
(157)
|
Net cash used in
investing activities
|
(1,723)
|
|
(1,310)
|
|
|
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(388)
|
|
(382)
|
Dividends paid to
noncontrolling interest holders
|
(6)
|
|
(6)
|
Short-term debt,
net
|
368
|
|
(148)
|
Redemptions,
repurchases, and maturities of long-term debt
|
(399)
|
|
(760)
|
Issuances of
long-term debt
|
278
|
|
882
|
Capital issuance
costs
|
(2)
|
|
(16)
|
Other
|
-
|
|
4
|
Net cash used in
financing activities - continuing operations
|
(149)
|
|
(426)
|
Net cash provided by
financing activities - discontinued operations
|
-
|
|
-
|
Net cash used in
financing activities
|
(149)
|
|
(426)
|
|
|
|
|
Net change in cash
and cash equivalents
|
(179)
|
|
(46)
|
Cash and cash
equivalents at beginning of year
|
209
|
|
255
|
Cash and cash
equivalents at end of year
|
30
|
|
209
|
|
|
|
|
Less: cash and
cash equivalents at end of year - discontinued
operations
|
-
|
|
25
|
Cash and cash
equivalents at end of year - continuing
operations
|
$
30
|
|
$
184
|
|
|
|
|
Noncash financing
activity - dividends on common stock
|
$
-
|
|
$
(7)
|
|
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
3,318
|
|
3,033
|
|
13,562
|
|
13,385
|
|
Commercial
|
3,511
|
|
3,380
|
|
14,634
|
|
14,575
|
|
Industrial
|
2,170
|
|
2,127
|
|
8,709
|
|
8,660
|
|
Other
|
36
|
|
37
|
|
125
|
|
126
|
|
Native load
subtotal
|
9,035
|
|
8,577
|
|
37,030
|
|
36,746
|
|
Off-system and
wholesale
|
1,475
|
|
1,810
|
|
6,128
|
|
7,293
|
|
Subtotal
|
10,510
|
|
10,387
|
|
43,158
|
|
44,039
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
1,099
|
|
1,772
|
|
5,474
|
|
9,507
|
|
Delivery
service only
|
1,829
|
|
822
|
|
6,310
|
|
2,103
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
650
|
|
589
|
|
2,606
|
|
2,985
|
|
Delivery
service only
|
2,420
|
|
2,236
|
|
9,541
|
|
9,175
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
394
|
|
428
|
|
1,667
|
|
1,595
|
|
Delivery
service only
|
2,728
|
|
2,799
|
|
10,861
|
|
11,753
|
|
Other
|
127
|
|
123
|
|
522
|
|
523
|
|
Native load
subtotal
|
9,247
|
|
8,769
|
|
36,981
|
|
37,641
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
sales
|
(41)
|
|
-
|
|
(82)
|
|
-
|
|
Ameren Total from
Continuing Operations
|
19,716
|
|
19,156
|
|
80,057
|
|
81,680
|
|
|
|
|
|
|
|
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
$
298
|
|
$
242
|
|
$
1,428
|
|
$
1,297
|
|
Commercial
|
246
|
|
214
|
|
1,216
|
|
1,088
|
|
Industrial
|
104
|
|
92
|
|
491
|
|
435
|
|
Other
|
22
|
|
32
|
|
61
|
|
104
|
|
Native load
subtotal
|
670
|
|
580
|
|
3,196
|
|
2,924
|
|
Off-system and
wholesale
|
42
|
|
48
|
|
183
|
|
208
|
|
Subtotal
|
$
712
|
|
$
628
|
|
$
3,379
|
|
$
3,132
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
$
88
|
|
$
146
|
|
$
501
|
|
$
953
|
|
Delivery
service only
|
71
|
|
35
|
|
282
|
|
98
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
48
|
|
39
|
|
215
|
|
253
|
|
Delivery
service only
|
40
|
|
39
|
|
184
|
|
178
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power supply
and delivery service
|
17
|
|
14
|
|
70
|
|
53
|
|
Delivery
service only
|
10
|
|
13
|
|
44
|
|
50
|
|
Other
|
27
|
|
49
|
|
165
|
|
154
|
|
Native load
subtotal
|
301
|
|
335
|
|
1,461
|
|
1,739
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
revenues and other
|
(4)
|
|
(4)
|
|
(8)
|
|
(14)
|
|
Ameren Total from
Continuing Operations
|
$
1,009
|
|
$
959
|
|
$
4,832
|
|
$
4,857
|
|
|
|
|
|
|
|
|
|
Electric
Generation - megawatthours (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
10.6
|
|
10.5
|
|
43.2
|
|
44.7
|
|
|
|
|
|
|
|
|
|
Fuel Cost per
kilowatthour (cents):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.814
|
|
1.745
|
|
1.846
|
|
1.718
|
|
|
|
|
|
|
|
|
|
Gas Sales -
decatherms (in thousands):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
6,052
|
|
4,856
|
|
19,420
|
|
15,858
|
|
Ameren
Illinois
|
56,350
|
|
48,479
|
|
175,846
|
|
156,789
|
|
Ameren
Total
|
62,402
|
|
53,335
|
|
195,266
|
|
172,647
|
|
|
|
|
|
|
|
|
|
Net Income (Loss)
by Segment (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
$
33
|
|
$
16
|
|
$
395
|
|
$
416
|
|
Ameren
Illinois
|
21
|
|
11
|
|
160
|
|
141
|
|
Other
|
(6)
|
|
(15)
|
|
(43)
|
|
(41)
|
|
Ameren
Total
|
$
48
|
|
$
12
|
|
$
512
|
|
$
516
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
|
|
December
31,
|
|
|
|
|
2013
|
|
|
|
2012
|
|
|
Common
Stock:
|
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
242.6
|
|
|
|
242.6
|
|
|
|
Book value per
share
|
$
26.97
|
|
|
|
$
27.27
|
|
|
|
|
|
|
|
|
|
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
|
Common
equity
|
50.1%
|
|
|
|
52.0%
|
|
|
|
Preferred
stock
|
1.1%
|
|
|
|
1.1%
|
|
|
|
Debt, net of
cash(a)
|
48.8%
|
|
|
|
46.9%
|
|
|
|
|
|
|
|
|
|
|
|
(a) For
December 31, 2012, excludes cash and debt of discontinued
operations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE Ameren Corporation