ST. LOUIS, Feb. 25, 2015 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced 2014 net income from continuing
operations of $587 million, or
$2.40 per diluted share, compared to
2013 net income from continuing operations of $512 million, or $2.10 per diluted share.
The year-over-year increase in 2014 earnings from continuing
operations reflected increased Illinois electric delivery and Federal Energy
Regulatory Commission (FERC)-regulated electric transmission
services earnings under formula ratemaking driven by infrastructure
investments made to better serve customers. This increase in
transmission service earnings was partially offset by a reserve for
a potential reduction in the allowed return on equity (ROE). The
improved earnings were also the result of increased rates for
Illinois natural gas delivery
service effective January 2014,
decreased interest charges and the absence in 2014 of a
Missouri fuel adjustment clause
(FAC)-related 2013 charge. Factors negatively affecting the
earnings comparison included increased depreciation and
amortization and operations and maintenance expenses, as well as a
higher effective income tax rate.
"We delivered strong earnings growth in 2014 as we continued to
successfully execute our strategic plan, which centers on investing
in electric and gas utility infrastructure for the benefit of our
customers and shareholders, while exercising disciplined cost
management," said Warner L. Baxter,
chairman, president and chief executive officer of Ameren
Corporation. "Construction of the FERC-regulated Illinois Rivers
Transmission Project proceeded as planned. In addition, Ameren
Illinois exceeded its first-year goal for installing advanced
electric and upgraded gas meters and received a constructive
December electric delivery rate decision, demonstrating that
Illinois' formula rate framework
is working as intended. Finally, Ameren Missouri installed a new
reactor vessel head at the Callaway Nuclear Energy Center, added
further environmental controls at the Labadie Energy Center and
completed construction of a major substation in St. Louis and the largest investor-owned solar
facility in the state. These projects are already serving
Missouri customers and are
eligible for inclusion in new rates to be effective by June of
2015."
Ameren recorded net income from continuing operations for the
three months ended Dec. 31, 2014, of
$46 million, or $0.19 per diluted share, compared to net income
from continuing operations for the three months ended Dec. 31, 2013, of $48
million, or $0.19 per diluted
share. Factors negatively affecting the earnings comparison
included a scheduled fourth quarter 2014 nuclear refueling and
maintenance outage at the Callaway Energy Center and increased
depreciation and amortization expenses. The 2013 Callaway refueling
and maintenance outage occurred in the spring of that year. In
addition, FERC-regulated electric transmission service results
decreased due to a reserve for a potential reduction in the allowed
ROE, partially offset by the favorable effect of infrastructure
investments made under formula ratemaking. Further, electric and
natural gas sales volumes declined, reflecting milder winter
temperatures. Factors having a positive effect on the earnings
comparison included decreased interest charges, increased
Illinois electric delivery service
earnings under formula ratemaking driven by infrastructure
investments, and increased rates for Illinois natural gas delivery service
effective January 2014.
Earnings Guidance
Ameren expects 2015 diluted earnings per share to be in a range
of $2.45 to $2.65 and continues to
expect diluted earnings per share from continuing operations to
grow at a 7% to 10% compound annual rate from 2013 through 2018. In
addition, rate base is projected to grow at a 6% compound annual
rate over the 2014 through 2019 period.
Ameren's earnings guidance assumes normal temperatures and,
along with Ameren's growth expectations, is subject to the effects
of, among other things, 30-year U.S. Treasury bond yields;
regulatory decisions and legislative actions; energy center and
energy delivery 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 2014 earnings were $390 million, compared to 2013 earnings of
$395 million. This earnings decrease
reflected increased operations and maintenance and depreciation and
amortization expenses. The earnings comparison benefited from the
absence in 2014 of the previously mentioned 2013 FAC-related
charge.
Ameren Illinois Segment Results
Ameren Illinois segment 2014 earnings were $201 million, compared to 2013 earnings of
$160 million. This earnings increase
reflected increased Illinois
electric delivery and FERC-regulated electric transmission services
earnings driven by infrastructure investments made under formula
ratemaking. This increase in transmission services earnings was
partially offset by a reserve for a potential reduction in the
allowed ROE. The earnings comparison also benefited from increased
rates for Illinois natural gas
delivery service effective January
2014 and lower interest charges primarily due to a
December 2014 regulatory decision
allowing recovery of the majority of debt redemption costs
initially disallowed and charged to earnings in 2013.
Parent Company and Other
The Parent Company and Other loss from continuing operations for
2014 was $4 million, compared to a
loss of $43 million for 2013. This
decreased loss reflected lower other operations and maintenance
expenses, primarily due to the substantial elimination of business
and administrative costs previously incurred in support of the
divested merchant generation business, and decreased interest
charges resulting from the May 2014
maturity of $425 million of parent
company 8.875% senior notes that were repaid with lower-cost
short-term debt. In addition, earnings from FERC-regulated Ameren
Transmission Company of Illinois
increased as a result of infrastructure investments made under
formula ratemaking. This increase in transmission service earnings
was partially offset by a reserve for a potential reduction in the
allowed ROE. Finally, the earnings comparison was negatively
affected by a higher effective income tax rate.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Wednesday, Feb. 25, to discuss 2014 earnings,
earnings guidance and growth expectations, 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
2014 Ameren Corporation Earnings Conference Call," followed by the
appropriate audio link. An accompanying slide presentation will be
available on Ameren's website. The conference call and this
presentation will be accessible in the "Investors" section of the
website under "Webcasts & Presentations." The analyst call will
be available for replay on Ameren's website for one year. In
addition, a telephone replay of the conference call will be
available beginning at approximately noon
Central Time from Feb. 25 through
Mar. 4 by dialing U.S. and Canada 877.660.6853 or international
201.612.7415, and entering ID number 13599695.
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 delivery and transmission service as well as
natural gas delivery service while Ameren Missouri provides
vertically integrated electric service, with generating capacity of
over 10,200 megawatts, and natural gas delivery service. Ameren
Transmission Company of Illinois
develops regional electric transmission projects. Follow the
company 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,
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
Ameren Missouri's July 2014 electric
rate case filing; Ameren Missouri's December
2014 Missouri Energy Efficiency Investment Act (MEEIA)
filing; Ameren Illinois' appeals of the Illinois Commerce
Commission's electric and natural gas rate orders issued in
December 2013; Ameren Illinois'
January 2015 natural gas delivery
service rate case filing; FERC settlement procedures regarding a
potential Ameren Illinois electric transmission rate refund; the
complaint case filed with the FERC seeking a reduction in the
allowed return on common equity under the Midcontinent Independent
System Operator tariff; 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 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 potential extension of the IEIMA after its current sunset
provision at the end of 2017, and any changes to the
performance-based formula ratemaking process or required financial
commitments;
- the effects of increased competition in the future due to,
among other factors, deregulation of certain aspects of our
business at either the state or federal level;
- changes in laws and other governmental actions, including
monetary, fiscal, tax, and energy policies;
- the effects on demand for our services resulting from
technological advances, including advances in customer energy
efficiency and distributed generation sources, which generate
electricity at the site of consumption;
- the effectiveness of Ameren Missouri's energy efficiency
programs and the ability to earn incentive awards under the
MEEIA;
- the timing of increasing capital expenditure and operating
expense requirements and our ability to recover these costs in a
timely manner;
- 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 and our customers' tolerance for related rate
increases;
- the effectiveness of our risk management strategies and our use
of financial and derivative instruments;
- business and economic conditions, including their impact on key
customers, 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 have an adverse effect on the
cost or availability of capital, including short-term credit and
liquidity;
- 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;
- the construction, installation, performance, and cost recovery
of generation, transmission, and distribution assets;
- 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 claim
against an insurer in connection with the December 2005 breach of the upper reservoir at
its Taum Sauk pumped-storage hydroelectric energy center;
- 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 decommissioning
costs;
- the effects of strategic initiatives, including mergers,
acquisitions and divestitures, and any related tax
implications;
- the impact of current environmental regulations 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 or investment requirements, result in an impairment of
our assets, cause us to sell 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, work force reductions, future wage and employee
benefits costs, including changes in discount rates, mortality
tables, 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 Missouri's energy centers or required to
satisfy Ameren Missouri's energy sales;
- the inability of Dynegy Inc. and Illinois Power Holdings, LLC
(IPH) to satisfy their indemnity 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, cyber attacks, or other
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,
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$1,049
|
|
$1,009
|
|
$4,913
|
|
$4,832
|
Gas
|
321
|
|
313
|
|
1,140
|
|
1,006
|
Total operating
revenues
|
1,370
|
|
1,322
|
|
6,053
|
|
5,838
|
|
|
|
|
|
|
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
188
|
|
197
|
|
826
|
|
845
|
Purchased
power
|
119
|
|
102
|
|
454
|
|
502
|
Gas purchased for
resale
|
183
|
|
182
|
|
615
|
|
526
|
Other operations and
maintenance
|
455
|
|
388
|
|
1,691
|
|
1,617
|
Depreciation and
amortization
|
194
|
|
178
|
|
745
|
|
706
|
Taxes other than
income taxes
|
106
|
|
104
|
|
468
|
|
458
|
Total operating
expenses
|
1,245
|
|
1,151
|
|
4,799
|
|
4,654
|
Operating
Income
|
125
|
|
171
|
|
1,254
|
|
1,184
|
|
|
|
|
|
|
|
|
Other Income and
Expense:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
19
|
|
18
|
|
79
|
|
69
|
Miscellaneous
expense
|
2
|
|
8
|
|
22
|
|
26
|
Total other
income
|
17
|
|
10
|
|
57
|
|
43
|
|
|
|
|
|
|
|
|
Interest
Charges
|
75
|
|
109
|
|
341
|
|
398
|
|
|
|
|
|
|
|
|
Income Before
Income Taxes
|
67
|
|
72
|
|
970
|
|
829
|
|
|
|
|
|
|
|
|
Income
Taxes
|
20
|
|
23
|
|
377
|
|
311
|
|
|
|
|
|
|
|
|
Income from
Continuing Operations
|
47
|
|
49
|
|
593
|
|
518
|
|
|
|
|
|
|
|
|
Income (Loss) from
Discontinued Operations, Net of Taxes
|
2
|
|
(11)
|
|
(1)
|
|
(223)
|
|
|
|
|
|
|
|
|
Net
Income
|
49
|
|
38
|
|
592
|
|
295
|
|
|
|
|
|
|
|
|
Less: Net
Income from Continuing Operations Attributable to Noncontrolling
Interests
|
1
|
|
1
|
|
6
|
|
6
|
|
|
|
|
|
|
|
|
Net Income (Loss)
Attributable to Ameren Corporation:
|
|
|
|
|
|
|
|
Continuing
Operations
|
46
|
|
48
|
|
587
|
|
512
|
Discontinued
Operations
|
2
|
|
(11)
|
|
(1)
|
|
(223)
|
|
|
|
|
|
|
|
|
Net Income
Attributable to Ameren Corporation
|
$ 48
|
|
$ 37
|
|
$ 586
|
|
$ 289
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$ 0.19
|
|
$ 0.19
|
|
$ 2.42
|
|
$ 2.11
|
Discontinued
Operations
|
0.01
|
|
(0.04)
|
|
-
|
|
(0.92)
|
Earnings per
Common Share – Basic
|
$ 0.20
|
|
$ 0.15
|
|
$ 2.42
|
|
$ 1.19
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$ 0.19
|
|
$ 0.19
|
|
$ 2.40
|
|
$ 2.10
|
Discontinued
Operations
|
0.01
|
|
(0.04)
|
|
-
|
|
(0.92)
|
Earnings per
Common Share – Diluted
|
$ 0.20
|
|
$ 0.15
|
|
$ 2.40
|
|
$ 1.18
|
|
|
|
|
|
|
|
|
Average Common
Shares Outstanding – Basic
|
242.6
|
|
242.6
|
|
242.6
|
|
242.6
|
Average Common
Shares Outstanding – Diluted
|
244.5
|
|
245.1
|
|
244.4
|
|
244.5
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
BALANCE SHEET
|
(Unaudited, in
millions)
|
|
|
|
|
|
December
31,
|
|
December
31,
|
|
2014
|
|
2013
|
|
|
|
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
5
|
|
$
30
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
423
|
|
404
|
Unbilled
revenue
|
265
|
|
304
|
Miscellaneous
accounts and notes receivable
|
81
|
|
196
|
Materials and
supplies
|
524
|
|
526
|
Current regulatory
assets
|
295
|
|
156
|
Current accumulated
deferred income taxes, net
|
352
|
|
106
|
Other current
assets
|
86
|
|
85
|
Assets of
discontinued operations
|
15
|
|
165
|
Total current
assets
|
2,046
|
|
1,972
|
Property and
Plant, Net
|
17,424
|
|
16,205
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
549
|
|
494
|
Goodwill
|
411
|
|
411
|
Regulatory
assets
|
1,582
|
|
1,240
|
Other
assets
|
664
|
|
720
|
Total investments and
other assets
|
3,206
|
|
2,865
|
TOTAL
ASSETS
|
$
22,676
|
|
$ 21,042
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
120
|
|
$
534
|
Short-term
debt
|
714
|
|
368
|
Accounts and wages
payable
|
711
|
|
806
|
Taxes
accrued
|
46
|
|
55
|
Interest
accrued
|
85
|
|
86
|
Current regulatory
liabilities
|
106
|
|
216
|
Other current
liabilities
|
434
|
|
351
|
Liabilities of
discontinued operations
|
33
|
|
45
|
Total current
liabilities
|
2,249
|
|
2,461
|
Long-term Debt,
Net
|
6,120
|
|
5,504
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
3,923
|
|
3,250
|
Accumulated deferred
investment tax credits
|
64
|
|
63
|
Regulatory
liabilities
|
1,850
|
|
1,705
|
Asset retirement
obligations
|
396
|
|
369
|
Pension and other
postretirement benefits
|
705
|
|
466
|
Other deferred
credits and liabilities
|
514
|
|
538
|
Total deferred
credits and other liabilities
|
7,452
|
|
6,391
|
Ameren Corporation
Stockholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
2
|
Other paid-in
capital, principally premium on common stock
|
5,617
|
|
5,632
|
Retained
earnings
|
1,103
|
|
907
|
Accumulated other
comprehensive income (loss)
|
(9)
|
|
3
|
Total Ameren
Corporation stockholders' equity
|
6,713
|
|
6,544
|
Noncontrolling
Interests
|
142
|
|
142
|
Total
equity
|
6,855
|
|
6,686
|
TOTAL LIABILITIES
AND EQUITY
|
$
22,676
|
|
$ 21,042
|
AMEREN CORPORATION
(AEE)
|
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in
millions)
|
|
|
|
|
|
Year
Ended
|
|
December
31,
|
|
2014
|
|
2013
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$ 592
|
|
$ 295
|
Loss from discontinued operations, net of
taxes
|
1
|
|
223
|
Adjustments to reconcile net income to net cash
provided by operating activities:
|
|
|
|
Depreciation and amortization
|
710
|
|
666
|
Amortization of nuclear fuel
|
81
|
|
71
|
Amortization of debt issuance costs and
premium/discounts
|
22
|
|
24
|
Deferred income taxes and investment tax credits,
net
|
451
|
|
410
|
Allowance for equity funds used during
construction
|
(34)
|
|
(37)
|
Stock-based compensation costs
|
25
|
|
27
|
Other
|
(24)
|
|
23
|
Changes in assets and
liabilities
|
(267)
|
|
(66)
|
Net cash provided by
operating activities - continuing operations
|
1,557
|
|
1,636
|
Net cash provided by
(used in) operating activities - discontinued operations
|
(6)
|
|
57
|
Net cash provided
by operating activities
|
1,551
|
|
1,693
|
|
|
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital expenditures
|
(1,785)
|
|
(1,379)
|
Nuclear fuel expenditures
|
(74)
|
|
(45)
|
Purchases of securities - nuclear decommissioning
trust fund
|
(405)
|
|
(214)
|
Sales and maturities of securities - nuclear
decommissioning trust fund
|
391
|
|
196
|
Other
|
17
|
|
2
|
Net cash used in
investing activities - continuing operations
|
(1,856)
|
|
(1,440)
|
Net cash provided by
(used in) investing activities - discontinued operations
|
139
|
|
(283)
|
Net cash used in
investing activities
|
(1,717)
|
|
(1,723)
|
|
|
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common stock
|
(390)
|
|
(388)
|
Dividends paid to noncontrolling interest
holders
|
(6)
|
|
(6)
|
Short-term debt, net
|
346
|
|
368
|
Maturities and redemptions of long-term
debt
|
(697)
|
|
(399)
|
Issuances of long-term debt
|
898
|
|
278
|
Capital issuance costs
|
(11)
|
|
(2)
|
Other
|
1
|
|
-
|
Net cash provided
by (used in) financing activities - continuing
operations
|
141
|
|
(149)
|
|
|
|
|
Net change in cash
and cash equivalents
|
(25)
|
|
(179)
|
Cash and cash
equivalents at beginning of year
|
30
|
|
209
|
Cash and cash
equivalents at end of year - continuing
operations
|
$ 5
|
|
$ 30
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
|
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
3,170
|
|
3,318
|
|
13,649
|
|
13,562
|
|
Commercial
|
3,443
|
|
3,511
|
|
14,649
|
|
14,634
|
|
Industrial
|
2,089
|
|
2,170
|
|
8,600
|
|
8,709
|
|
Off-system
|
1,384
|
|
1,475
|
|
6,170
|
|
6,128
|
|
Other
|
35
|
|
36
|
|
124
|
|
125
|
|
Ameren
Missouri total
|
10,121
|
|
10,510
|
|
43,192
|
|
43,158
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
1,222
|
|
1,099
|
|
4,662
|
|
5,474
|
|
Delivery
service only
|
1,591
|
|
1,829
|
|
7,222
|
|
6,310
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
602
|
|
650
|
|
2,535
|
|
2,606
|
|
Delivery
service only
|
2,413
|
|
2,420
|
|
9,643
|
|
9,541
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
401
|
|
394
|
|
1,741
|
|
1,667
|
|
Delivery
service only
|
2,656
|
|
2,728
|
|
10,576
|
|
10,861
|
|
Other
|
132
|
|
127
|
|
518
|
|
522
|
|
Ameren
Illinois total
|
9,017
|
|
9,247
|
|
36,897
|
|
36,981
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
sales
|
-
|
|
(41)
|
|
(67)
|
|
(82)
|
|
Ameren
Total from Continuing Operations
|
19,138
|
|
19,716
|
|
80,022
|
|
80,057
|
|
|
|
|
|
|
|
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
$ 287
|
|
$
298
|
|
$ 1,417
|
|
$
1,428
|
|
Commercial
|
247
|
|
246
|
|
1,203
|
|
1,216
|
|
Industrial
|
102
|
|
104
|
|
475
|
|
491
|
|
Off-system
|
36
|
|
42
|
|
173
|
|
183
|
|
Other
|
20
|
|
22
|
|
120
|
|
61
|
|
Ameren
Missouri total
|
$ 692
|
|
$
712
|
|
$ 3,388
|
|
$
3,379
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
$ 115
|
|
$
88
|
|
$ 468
|
|
$
501
|
|
Delivery
service only
|
63
|
|
71
|
|
308
|
|
282
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
53
|
|
48
|
|
233
|
|
215
|
|
Delivery
service only
|
42
|
|
40
|
|
185
|
|
184
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power
supply and delivery service
|
19
|
|
17
|
|
90
|
|
70
|
|
Delivery
service only
|
11
|
|
10
|
|
42
|
|
44
|
|
Other
|
57
|
|
27
|
|
196
|
|
165
|
|
Ameren
Illinois total
|
$ 360
|
|
$
301
|
|
$ 1,522
|
|
$
1,461
|
ATXI:
|
|
|
|
|
|
|
|
|
Transmission
services
|
$ 4
|
|
$
4
|
|
$ 33
|
|
$
19
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
revenues
|
(7)
|
|
(8)
|
|
(30)
|
|
(27)
|
|
Ameren
Total from Continuing Operations
|
$1,049
|
|
$
1,009
|
|
$ 4,913
|
|
$
4,832
|
|
|
|
|
|
|
|
|
|
Electric
Generation - kilowatthours (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
9,754
|
|
10,647
|
|
43,474
|
|
43,213
|
|
|
|
|
|
|
|
|
|
Fuel Cost per
kilowatthour (cents):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.962
|
|
1.814
|
|
1.928
|
|
1.846
|
|
|
|
|
|
|
|
|
|
Gas Sales -
dekatherms (in thousands):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
5,504
|
|
6,052
|
|
19,054
|
|
19,420
|
|
Ameren
Illinois
|
53,622
|
|
56,350
|
|
183,756
|
|
175,846
|
|
Ameren
Total
|
59,126
|
|
62,402
|
|
202,810
|
|
195,266
|
|
|
|
|
|
|
|
|
|
Net Income (Loss)
by Segment (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
$ (5)
|
|
$
33
|
|
$ 390
|
|
$
395
|
|
Ameren
Illinois
|
45
|
|
21
|
|
201
|
|
160
|
|
Other
|
6
|
|
(6)
|
|
(4)
|
|
(43)
|
|
Ameren
Total
|
$ 46
|
|
$
48
|
|
$ 587
|
|
$
512
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
|
|
December
31,
|
|
|
|
|
2014
|
|
|
|
2013
|
Common
Stock:
|
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
|
|
242.6
|
|
|
|
242.6
|
|
Book value per
share
|
|
|
$
27.67
|
|
|
|
$
26.97
|
|
|
|
|
|
|
|
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
|
Common
equity
|
|
|
48.7%
|
|
|
|
50.1%
|
|
Preferred
stock
|
|
|
1.0%
|
|
|
|
1.1%
|
|
Debt, net of
cash
|
|
|
50.3%
|
|
|
|
48.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-2014-results-and-issues-earnings-guidance-300041140.html
SOURCE Ameren Corporation