ST. LOUIS, Feb. 19, 2016 /PRNewswire/ -- Ameren
Corporation (NYSE: AEE) today announced 2015 net income
attributable to common shareholders in accordance with generally
accepted accounting principles (GAAP) of $630 million, or $2.59 per diluted share, compared to $586 million, or $2.40 per diluted share, for 2014. Excluding
certain items discussed below, Ameren recorded core earnings of
$622 million, or $2.56 per diluted share, for 2015, compared to
core earnings of $587 million, or
$2.40 per diluted share, for
2014.
The year-over-year increase in 2015 core earnings reflected
increased investments in electric transmission and delivery
infrastructure made under modern, constructive regulatory
frameworks as well as the absence, in 2015, of a nuclear refueling
and maintenance outage at the Callaway Energy Center, which is
scheduled to occur every 18 months. The positive effects of these
factors were partially offset by increased depreciation and
amortization expenses and lower retail electric and gas sales
volumes in 2015 driven by milder winter temperatures.
"We delivered strong earnings growth in 2015," said Warner L. Baxter, chairman, president and chief
executive officer of Ameren Corporation. "Despite some challenges,
including very mild fourth quarter weather, we were able to achieve
this growth through the continued execution of our strategy, which
includes allocating capital to jurisdictions with modern,
constructive regulatory frameworks and managing costs in a
disciplined manner."
Ameren recorded GAAP net income attributable to common
shareholders for the three months ended Dec.
31, 2015, of $29 million, or
12 cents per diluted share, compared
to $48 million, or 20 cents per diluted share, for the same period
in 2014. Excluding results from discontinued operations discussed
below, Ameren recorded core earnings of $30
million, or 12 cents per
diluted share, for the three months ended Dec. 31, 2015, compared to $46 million, or 19
cents per diluted share, for the same period in 2014.
This year-over-year decrease in fourth quarter 2015 core
earnings reflected lower retail electric and gas sales volumes
primarily driven by milder winter temperatures, a higher effective
income tax rate and the absence of a fourth quarter 2014 benefit
resulting from a regulatory order regarding debt redemption costs.
The negative effects of these factors were partially offset by the
absence, in 2015, of a nuclear refueling and maintenance outage at
the Callaway Energy Center and earnings on increased investments in
electric transmission infrastructure.
The following items were excluded from core earnings for the
three months and year ended Dec. 31,
2015 and 2014, as applicable:
- Results from discontinued operations, primarily reflecting
recognition of a tax benefit related to the resolution of an
uncertain tax position, which increased 2015 GAAP net income by
$52 million.
- A provision for discontinuing pursuit of a construction and
operating license (COL) for a second nuclear unit at Ameren
Missouri's Callaway Energy Center, which decreased 2015 net income
from continuing operations by $43
million.
A reconciliation of GAAP to core earnings per diluted share is
as follows:
|
Three Months
Ended
|
|
Year
Ended
|
|
Dec.
31,
|
|
Dec.
31,
|
|
2015
|
2014
|
|
2015
|
2014
|
GAAP
EPS
|
$0.12
|
$0.20
|
|
$2.59
|
$2.40
|
Results from
discontinued operations
|
—
|
(0.01)
|
|
(0.21)
|
—
|
Provision for Callaway
COL
|
—
|
—
|
|
0.18
|
—
|
Core
EPS
|
$0.12
|
$0.19
|
|
$2.56
|
$2.40
|
Earnings Guidance
Ameren expects 2016 diluted earnings per share to be in a range
of $2.40 to $2.60 including an
estimated 13 cents per share
reduction related to significantly lower expected electric sales
volumes to Noranda Aluminum, Inc. (Noranda), Ameren Missouri's
largest customer. Ameren also expects diluted earnings per share to
grow at a 5% to 8% compound annual rate from 2016 through 2020,
excluding the expected temporary net effect of lower sales to
Noranda in 2016. These increasing earnings are expected to be
driven by projected rate base growth of approximately 6.5%
compounded annually from 2015 through 2020.
"Looking ahead, we expect to continue to deliver strong
long-term earnings per share growth compared to our peers as we
execute our strategy," Baxter said. "In addition, we will
continue to work constructively with key stakeholders to modernize
Missouri's regulatory framework to
better support investment in that state's aging energy
infrastructure for the long-term benefit of our customers and the
state of Missouri."
Earnings guidance for 2016 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; Noranda sales levels; 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 2015 GAAP and core earnings were
$352 million and $395 million, respectively, compared to 2014 GAAP
and core earnings of $390 million.
The difference between 2015 GAAP and core earnings reflected the
provision for the Callaway COL described previously. The core
earnings increase reflected the absence, in 2015, of a nuclear
refueling and maintenance outage at the Callaway Energy Center.
This benefit was partially offset by lower capitalized financing
costs and higher depreciation and amortization expenses. The
comparison was also negatively affected by lower retail electric
sales volumes in 2015 driven by milder winter temperatures.
Ameren Illinois Segment Results
Ameren Illinois segment 2015 earnings were $214 million, compared to 2014 earnings of
$201 million. This comparison
benefited from earnings on increased investments in electric
transmission and delivery infrastructure and an Illinois Commerce
Commission (ICC) order approving recovery of cumulative power usage
costs. These positive factors were partially offset by a reduced
allowed return on equity for the electric delivery business due to
lower 30-year U.S. Treasury bond yields, higher depreciation and
amortization expenses related to natural gas delivery service and
the absence of a 2014 benefit resulting from an ICC order regarding
debt redemption costs. The comparison was also negatively affected
by lower retail electric and gas sales volumes in 2015 driven by
milder winter temperatures.
Other Results from Continuing Operations, including ATXI and
Parent
Other earnings, including those of Ameren Transmission Company
of Illinois (ATXI) and the parent
company, for 2015 were $14 million,
compared to a loss of $4 million for
2014. These improvements reflected an increase in earnings at ATXI
to $31 million from $14 million as a result of increased investments
in electric transmission infrastructure.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Friday, Feb. 19, to discuss 2015 earnings,
earnings guidance and growth expectations, and regulatory 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 2015 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. 19
through Feb. 26 by dialing U.S. and Canada 877.660.6853 or international
201.612.7415, and entering ID number 13629810.
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.
Use of Non-GAAP Financial Measures
In this release, Ameren has presented core earnings, which is
a non-GAAP measure and may not be comparable to those of other
companies. A reconciliation of GAAP to non-GAAP results has been
included in this release. Generally, core earnings (or losses)
include earnings or losses attributable to common stockholders and
exclude income or loss from discontinued operations and income or
loss from significant discrete items that management does not
consider representative of ongoing earnings, such as the Callaway
COL provision. Ameren uses core earnings internally for financial
planning and for analysis of performance. Ameren also uses core
earnings as the primary performance measurement when communicating
with analysts and investors regarding our earnings results and
outlook, as the company believes that core earnings allow the
company to more accurately compare its ongoing performance across
periods. In providing core earnings guidance, there could be
differences between core earnings and earnings prepared in
accordance with GAAP as a result of our treatment of certain items,
such as those described above. Ameren is unable to estimate the
impact, if any, on future GAAP earnings of such items.
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 Dec. 31, 2014, 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, that may
result from the complaint cases filed with the Federal Energy
Regulatory Commission (FERC) seeking a reduction in the allowed
base return on common equity under the Midcontinent Independent
System Operator tariff, the review of the calculation of the fuel
adjustment clause provision that allows Ameren Missouri to retain a
portion of off-system sales it makes as a result of reduced tariff
sales to Noranda, and future regulatory, judicial, or legislative
actions designed to change regulatory recovery mechanisms;
- the effect of Ameren Illinois participating in a
performance-based formula ratemaking process under the 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 Ameren Illinois' results of
operations, financial position, and liquidity;
- our ability to align our overall spending, both operating and
capital, with regulatory frameworks established by our regulators
in an attempt to earn our allowed return on equity;
- the effects of changes in laws and other governmental actions,
including monetary, fiscal, tax, and energy policies;
- the effects of changes in federal, state, or local tax laws,
regulations, interpretations, or rates and any challenges to the
tax positions we have taken;
- 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 and are becoming more
cost-competitive;
- the effectiveness of Ameren Missouri's customer energy
efficiency programs and the related amount of any revenues and
performance incentive earned under the MEEIA plans approved in
August 2012, February 2016, and any future approved MEEIA
plan;
- 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 the related rate
increases;
- the effectiveness of our risk management strategies and our use
of financial and derivative instruments;
- the ability to obtain sufficient insurance, including insurance
relating to Ameren Missouri's Callaway Energy Center and insurance
for cyber attacks, and to recover the costs of such insurance or,
in the absence of insurance, the ability to recover uninsured
losses;
- business and economic conditions, including their impact on key
customers, interest rates, collection of our receivable balances,
and demand for our products;
- Noranda's bankruptcy filing, the expected curtailment of
operations at its aluminum smelter located in southeast
Missouri, and the resulting
impacts to Ameren Missouri's ability to recover its revenue
requirement;
- revisions to Ameren Missouri's long-term power supply agreement
with Noranda, including Ameren Missouri's notification to terminate
the agreement effective June 1, 2020,
and Ameren Missouri's decision as to whether to seek MoPSC approval
to cease providing electricity to Noranda
thereafter;
- 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;
- 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 breakdowns or failures of equipment in the
operation of natural gas distribution and transmission systems and
storage facilities, such as leaks, explosions and mechanical
problems, and compliance with natural gas safety regulations;
- the effects of our increasing investment in electric
transmission projects and the uncertainty as to whether we will
achieve our expected returns in a timely fashion;
- 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
carbon dioxide, 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;
- legal and administrative proceedings;
- the impact of cyber attacks, which could result in the loss of
operational control of energy centers and electric and natural gas
transmission and distribution systems and/or the loss of data, such
as utility customer data and account information; and
- acts of sabotage, war, terrorism, or other intentionally
disruptive acts.
New factors emerge from time to time; it is not possible for
management to predict all such factors, nor can it assess the
impact of each such factor on the business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained or implied in any
forward-looking statement. 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
December 31,
|
|
Year Ended
December 31,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
|
1,087
|
|
|
$
|
1,049
|
|
|
$
|
5,180
|
|
|
$
|
4,913
|
|
Gas
|
221
|
|
|
321
|
|
|
918
|
|
|
1,140
|
|
Total operating
revenues
|
1,308
|
|
|
1,370
|
|
|
6,098
|
|
|
6,053
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
208
|
|
|
188
|
|
|
878
|
|
|
826
|
|
Purchased
power
|
121
|
|
|
121
|
|
|
514
|
|
|
461
|
|
Gas purchased for
resale
|
95
|
|
|
183
|
|
|
415
|
|
|
615
|
|
Other operations and
maintenance
|
438
|
|
|
453
|
|
|
1,694
|
|
|
1,684
|
|
Provision for
Callaway construction and operating license
|
—
|
|
|
—
|
|
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
202
|
|
|
194
|
|
|
796
|
|
|
745
|
|
Taxes other than
income taxes
|
104
|
|
|
106
|
|
|
473
|
|
|
468
|
|
Total operating
expenses
|
1,168
|
|
|
1,245
|
|
|
4,839
|
|
|
4,799
|
|
Operating
Income
|
140
|
|
|
125
|
|
|
1,259
|
|
|
1,254
|
|
Other Income and
Expenses:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
20
|
|
|
19
|
|
|
74
|
|
|
79
|
|
Miscellaneous
expense
|
8
|
|
|
2
|
|
|
30
|
|
|
22
|
|
Total other
income
|
12
|
|
|
17
|
|
|
44
|
|
|
57
|
|
Interest
Charges
|
91
|
|
|
75
|
|
|
355
|
|
|
341
|
|
Income Before
Income Taxes
|
61
|
|
|
67
|
|
|
948
|
|
|
970
|
|
Income
Taxes
|
30
|
|
|
20
|
|
|
363
|
|
|
377
|
|
Income from
Continuing Operations
|
31
|
|
|
47
|
|
|
585
|
|
|
593
|
|
Income (Loss) from
Discontinued Operations, Net of Taxes
|
(1)
|
|
|
2
|
|
|
51
|
|
|
(1)
|
|
Net
Income
|
30
|
|
|
49
|
|
|
636
|
|
|
592
|
|
Less: Net Income
from Continuing Operations Attributable to Noncontrolling
Interests
|
1
|
|
|
1
|
|
|
6
|
|
|
6
|
|
Net Income (Loss)
Attributable to Ameren Common Shareholders:
|
|
|
|
|
|
|
|
Continuing
Operations
|
30
|
|
|
46
|
|
|
579
|
|
|
587
|
|
Discontinued
Operations
|
(1)
|
|
|
2
|
|
|
51
|
|
|
(1)
|
|
Net Income
Attributable to Ameren Common Shareholders
|
$
|
29
|
|
|
$
|
48
|
|
|
$
|
630
|
|
|
$
|
586
|
|
Earnings per
Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
|
0.12
|
|
|
$
|
0.19
|
|
|
$
|
2.39
|
|
|
$
|
2.42
|
|
Discontinued
Operations
|
—
|
|
|
0.01
|
|
|
0.21
|
|
|
—
|
|
Earnings per
Common Share – Basic
|
$
|
0.12
|
|
|
$
|
0.20
|
|
|
$
|
2.60
|
|
|
$
|
2.42
|
|
|
|
|
|
|
|
|
|
Earnings per
Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
|
0.12
|
|
|
$
|
0.19
|
|
|
$
|
2.38
|
|
|
$
|
2.40
|
|
Discontinued
Operations
|
—
|
|
|
0.01
|
|
|
0.21
|
|
|
—
|
|
Earnings per
Common Share – Diluted
|
$
|
0.12
|
|
|
$
|
0.20
|
|
|
$
|
2.59
|
|
|
$
|
2.40
|
|
|
|
|
|
|
|
|
|
Average Common
Shares Outstanding – Basic
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
Average Common
Shares Outstanding – Diluted
|
243.0
|
|
|
244.5
|
|
|
243.6
|
|
|
244.4
|
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
BALANCE SHEET
|
(Unaudited, in
millions)
|
|
|
December 31,
2015
|
|
December 31,
2014
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
292
|
|
|
$
|
5
|
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
388
|
|
|
423
|
|
Unbilled
revenue
|
239
|
|
|
265
|
|
Miscellaneous
accounts and notes receivable
|
98
|
|
|
81
|
|
Materials and
supplies
|
538
|
|
|
524
|
|
Current regulatory
assets
|
260
|
|
|
295
|
|
Other current
assets
|
88
|
|
|
86
|
|
Assets of
discontinued operations
|
14
|
|
|
15
|
|
Total current
assets
|
1,917
|
|
|
1,694
|
|
Property and
Plant, Net
|
18,799
|
|
|
17,424
|
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
556
|
|
|
549
|
|
Goodwill
|
411
|
|
|
411
|
|
Regulatory
assets
|
1,382
|
|
|
1,582
|
|
Other
assets
|
575
|
|
|
629
|
|
Total investments and
other assets
|
2,924
|
|
|
3,171
|
|
TOTAL
ASSETS
|
$
|
23,640
|
|
|
$
|
22,289
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
|
395
|
|
|
$
|
120
|
|
Short-term
debt
|
301
|
|
|
714
|
|
Accounts and wages
payable
|
777
|
|
|
711
|
|
Taxes
accrued
|
43
|
|
|
46
|
|
Interest
accrued
|
89
|
|
|
85
|
|
Current regulatory
liabilities
|
80
|
|
|
106
|
|
Other current
liabilities
|
379
|
|
|
434
|
|
Liabilities of
discontinued operations
|
29
|
|
|
33
|
|
Total current
liabilities
|
2,093
|
|
|
2,249
|
|
Long-term Debt,
Net
|
6,880
|
|
|
6,085
|
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
3,885
|
|
|
3,571
|
|
Accumulated deferred
investment tax credits
|
60
|
|
|
64
|
|
Regulatory
liabilities
|
1,905
|
|
|
1,850
|
|
Asset retirement
obligations
|
618
|
|
|
396
|
|
Pension and other
postretirement benefits
|
580
|
|
|
705
|
|
Other deferred
credits and liabilities
|
531
|
|
|
514
|
|
Total deferred
credits and other liabilities
|
7,579
|
|
|
7,100
|
|
Ameren Corporation
Shareholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
|
2
|
|
Other paid-in
capital, principally premium on common stock
|
5,616
|
|
|
5,617
|
|
Retained
earnings
|
1,331
|
|
|
1,103
|
|
Accumulated other
comprehensive loss
|
(3)
|
|
|
(9)
|
|
Total Ameren
Corporation shareholders' equity
|
6,946
|
|
|
6,713
|
|
Noncontrolling
Interests
|
142
|
|
|
142
|
|
Total
equity
|
7,088
|
|
|
6,855
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
|
23,640
|
|
|
$
|
22,289
|
|
AMEREN CORPORATION
(AEE)
|
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in
millions)
|
|
|
Year Ended
December 31,
|
|
2015
|
|
2014
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$
|
636
|
|
|
$
|
592
|
|
Loss (Income) from
discontinued operations, net of tax
|
(51)
|
|
|
1
|
|
Adjustments to
reconcile net income (loss) to net cash provided by operating
activities:
|
|
|
|
Provision for
Callaway construction and operating license
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
777
|
|
|
710
|
|
Amortization of
nuclear fuel
|
97
|
|
|
81
|
|
Amortization of debt
issuance costs and premium/discounts
|
22
|
|
|
22
|
|
Deferred income taxes
and investment tax credits, net
|
369
|
|
|
451
|
|
Allowance for equity
funds used during construction
|
(30)
|
|
|
(34)
|
|
Stock-based
compensation costs
|
24
|
|
|
25
|
|
Other
|
(10)
|
|
|
(24)
|
|
Changes in assets and
liabilities
|
118
|
|
|
(267)
|
|
Net cash provided by
operating activities – continuing operations
|
2,021
|
|
|
1,557
|
|
Net cash used in
operating activities – discontinued operations
|
(4)
|
|
|
(6)
|
|
Net cash provided
by operating activities
|
2,017
|
|
|
1,551
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(1,917)
|
|
|
(1,785)
|
|
Nuclear fuel
expenditures
|
(52)
|
|
|
(74)
|
|
Purchases of
securities – nuclear decommissioning trust fund
|
(363)
|
|
|
(405)
|
|
Sales and maturities
of securities – nuclear decommissioning trust fund
|
349
|
|
|
391
|
|
Proceeds from note
receivable – Illinois Power Marketing Company
|
20
|
|
|
95
|
|
Contributions to note
receivable – Illinois Power Marketing Company
|
(8)
|
|
|
(89)
|
|
Other
|
20
|
|
|
11
|
|
Net cash used in
investing activities – continuing operations
|
(1,951)
|
|
|
(1,856)
|
|
Net cash provided by
(used in) investing activities – discontinued operations
|
(25)
|
|
|
139
|
|
Net cash used in
investing activities
|
(1,976)
|
|
|
(1,717)
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(402)
|
|
|
(390)
|
|
Dividends paid to
noncontrolling interest holders
|
(6)
|
|
|
(6)
|
|
Short-term debt,
net
|
(413)
|
|
|
346
|
|
Redemptions and
maturities of long-term debt
|
(120)
|
|
|
(697)
|
|
Issuances of
long-term debt
|
1,197
|
|
|
898
|
|
Capital issuance
costs
|
(12)
|
|
|
(11)
|
|
Other
|
2
|
|
|
1
|
|
Net cash provided
by financing activities – continuing operations
|
246
|
|
|
141
|
|
Net change in cash
and cash equivalents
|
287
|
|
|
(25)
|
|
Cash and cash
equivalents at beginning of year
|
5
|
|
|
30
|
|
Cash and cash
equivalents at end of year – continuing operations
|
$
|
292
|
|
|
$
|
5
|
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
December
31,
|
|
December
31,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
2,717
|
|
|
3,170
|
|
|
12,903
|
|
|
13,649
|
|
Commercial
|
3,320
|
|
|
3,443
|
|
|
14,574
|
|
|
14,649
|
|
Industrial
|
2,021
|
|
|
2,089
|
|
|
8,273
|
|
|
8,600
|
|
Off-system
|
1,870
|
|
|
1,384
|
|
|
7,380
|
|
|
6,170
|
|
Other
|
36
|
|
|
35
|
|
|
126
|
|
|
124
|
|
Ameren Missouri
total
|
9,964
|
|
|
10,121
|
|
|
43,256
|
|
|
43,192
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
1,034
|
|
|
1,222
|
|
|
4,797
|
|
|
4,662
|
|
Delivery service
only
|
1,487
|
|
|
1,591
|
|
|
6,757
|
|
|
7,222
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
663
|
|
|
602
|
|
|
2,837
|
|
|
2,535
|
|
Delivery service
only
|
2,290
|
|
|
2,413
|
|
|
9,443
|
|
|
9,643
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
259
|
|
|
386
|
|
|
1,589
|
|
|
1,674
|
|
Delivery service
only
|
2,524
|
|
|
2,656
|
|
|
10,274
|
|
|
10,576
|
|
Other
|
130
|
|
|
132
|
|
|
524
|
|
|
518
|
|
Ameren Illinois
total
|
8,387
|
|
|
9,002
|
|
|
36,221
|
|
|
36,830
|
|
Eliminate affiliate
sales
|
(179)
|
|
|
—
|
|
|
(385)
|
|
|
(67)
|
|
Ameren Total from
Continuing Operations
|
18,172
|
|
|
19,123
|
|
|
79,092
|
|
|
79,955
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
$
|
285
|
|
|
$
|
287
|
|
|
$
|
1,464
|
|
|
$
|
1,417
|
|
Commercial
|
254
|
|
|
247
|
|
|
1,258
|
|
|
1,203
|
|
Industrial
|
99
|
|
|
102
|
|
|
469
|
|
|
475
|
|
Off-system
|
53
|
|
|
36
|
|
|
195
|
|
|
173
|
|
Other
|
27
|
|
|
20
|
|
|
84
|
|
|
120
|
|
Ameren Missouri
total
|
$
|
718
|
|
|
$
|
692
|
|
|
$
|
3,470
|
|
|
$
|
3,388
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
$
|
113
|
|
|
$
|
115
|
|
|
$
|
495
|
|
|
$
|
468
|
|
Delivery service
only
|
75
|
|
|
63
|
|
|
363
|
|
|
308
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
59
|
|
|
53
|
|
|
247
|
|
|
233
|
|
Delivery service
only
|
50
|
|
|
42
|
|
|
227
|
|
|
185
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
12
|
|
|
19
|
|
|
71
|
|
|
87
|
|
Delivery service
only
|
13
|
|
|
11
|
|
|
53
|
|
|
42
|
|
Other
|
45
|
|
|
57
|
|
|
227
|
|
|
199
|
|
Ameren Illinois
total
|
$
|
367
|
|
|
$
|
360
|
|
|
$
|
1,683
|
|
|
$
|
1,522
|
|
ATXI
|
|
|
|
|
|
|
|
Transmission
services
|
$
|
14
|
|
|
$
|
4
|
|
|
$
|
70
|
|
|
$
|
33
|
|
Other and
intercompany eliminations
|
(12)
|
|
|
(7)
|
|
|
(43)
|
|
|
(30)
|
|
Ameren Total from
Continuing Operations
|
$
|
1,087
|
|
|
$
|
1,049
|
|
|
$
|
5,180
|
|
|
$
|
4,913
|
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
December
31,
|
|
December
31,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric
Generation - kilowatthours (in millions):
|
|
|
|
|
|
|
Ameren
Missouri
|
9,648
|
|
|
9,754
|
|
|
42,424
|
|
|
43,474
|
|
Fuel Cost per
kilowatthour (in cents):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.799
|
|
|
1.962
|
|
|
1.865
|
|
|
1.928
|
|
Gas Sales -
dekatherms (in thousands):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
4,505
|
|
|
5,504
|
|
|
17,770
|
|
|
19,054
|
|
Ameren
Illinois
|
41,539
|
|
|
53,622
|
|
|
165,157
|
|
|
183,756
|
|
Ameren
Total
|
46,044
|
|
|
59,126
|
|
|
182,927
|
|
|
202,810
|
|
|
|
|
December 31,
2015
|
|
|
|
December 31,
2014
|
Common
Stock:
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
|
|
242.6
|
|
|
|
|
242.6
|
|
Book value per
share
|
|
|
$
|
28.63
|
|
|
|
|
$
|
27.67
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
Common
equity
|
|
|
48.3
|
%
|
|
|
|
48.8
|
%
|
Preferred
stock
|
|
|
1.0
|
%
|
|
|
|
1.0
|
%
|
Debt, net of
cash
|
|
|
50.7
|
%
|
|
|
|
50.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-2015-results-and-issues-earnings-guidance-300222907.html
SOURCE Ameren Corporation