ST. LOUIS, July 31, 2015 /PRNewswire/ -- Ameren
Corporation (NYSE: AEE) today announced second quarter 2015 net
income in accordance with generally accepted accounting principles
(GAAP) of $150 million, or
61 cents per share, compared to
second quarter 2014 GAAP net income of $149
million, or 61 cents per
share. Excluding results from discontinued operations and a 2015
loss provision for discontinuing pursuit of a construction and
operating license (COL) for a second nuclear unit at Ameren
Missouri's Callaway Energy Center, Ameren recorded second quarter
2015 core (non-GAAP) net income of $141
million, or 58 cents per
share, compared with second quarter 2014 core net income of
$150 million, or 62 cents per share.
The year-over-year decrease in second quarter 2015 core earnings
reflected lower retail electric sales volumes driven primarily by
milder early summer temperatures in 2015. In addition, the earnings
comparison was negatively affected by a seasonal rate redesign and
the timing of revenues under formula ratemaking related to Ameren
Illinois electric delivery, as well as higher depreciation and
amortization expenses. The effects of these factors were partially
offset by earnings on increased investments in electric
transmission and delivery infrastructure made under formula
ratemaking and a lower effective income tax rate.
"We remain on track to deliver solid earnings growth in 2015,"
said Warner L. Baxter, chairman,
president and chief executive officer of Ameren Corporation. "We
continue to execute on key elements of our strategy, including
allocating capital to jurisdictions with modern, constructive
regulatory frameworks, managing costs in a disciplined fashion and
aligning spending with regulatory outcomes and economic conditions.
We continue to believe that the execution of our strategy will
deliver superior long-term value to both our customers and
shareholders."
Ameren recorded GAAP net income for the six months ended
June 30, 2015, of $258 million, or $1.06 per share, compared to GAAP net income for
the six months ended June 30, 2014,
of $245 million, or $1.01 per share. Excluding results from
discontinued operations and the 2015 provision for a Callaway COL,
Ameren recorded core net income of $249
million, or $1.03 per share,
for the first six months of 2015, compared to core net income of
$247 million, or $1.02 per share, for the first six months of
2014.
This core earnings improvement reflected earnings on increased
investments in electric transmission and delivery infrastructure
made under formula ratemaking. The earnings comparison also
benefited from lower other operations and maintenance expenses,
reduced parent company interest costs and a lower effective income
tax rate. These positive factors were partially offset by lower
retail electric and natural gas sales volumes primarily due to
milder temperatures in the first half of 2015, a seasonal rate
redesign and the timing of revenues under formula ratemaking
related to Ameren Illinois electric delivery, as well as higher
depreciation and amortization expenses.
The following items were excluded from the second quarter and
first six months of 2015 and 2014 core earnings, as applicable:
- Results from discontinued operations, primarily reflecting
recognition of a tax benefit related to the resolution of an
uncertain tax position, which increased GAAP net income by
$52 million for the second quarter
and first six months of 2015; and
- A provision for a Callaway COL, which decreased net income from
continuing operations by $43 million
for the second quarter and first six months of 2015.
A reconciliation of GAAP to core earnings per share is as
follows:
|
Second
Quarter
|
|
Six
Months
|
|
2015
|
2014
|
|
2015
|
2014
|
|
GAAP
EPS
|
$0.61
|
$0.61
|
|
$1.06
|
$1.01
|
|
Results from
discontinued operations
|
(0.21)
|
0.01
|
|
(0.21)
|
0.01
|
|
Provision for Callaway
COL
|
0.18
|
—
|
|
0.18
|
—
|
|
Core
EPS
|
$0.58
|
$0.62
|
|
$1.03
|
$1.02
|
|
Earnings Guidance
Ameren expects 2015 core diluted earnings per share to be in a
range of $2.45 to $2.65. This core
earnings guidance excludes results from discontinued operations and
the 2015 provision for a Callaway COL. GAAP 2015 diluted earnings
per share are now expected to be in a range of $2.48 to $2.68, compared to the prior range of
$2.45 to $2.65 per share.
Earnings guidance for 2015 assumes normal temperatures for the
last six months of this year and 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 second quarter 2015 GAAP and core
earnings were $61 million and
$104 million, respectively, compared
with second quarter 2014 GAAP and core earnings of $126 million. The decline in core earnings
reflected lower retail electric sales volumes driven primarily by
milder early summer temperatures in 2015. In addition, the earnings
comparison was negatively affected by higher other operations and
maintenance as well as depreciation and amortization expenses. The
difference between second quarter 2015 GAAP and core earnings
reflected the provision for a Callaway COL.
Ameren Illinois Segment Results
Ameren Illinois segment second quarter 2015 GAAP and core
earnings were $31 million, compared
with second quarter 2014 GAAP and core earnings of $28 million. The comparison benefited from
earnings on increased investments in electric delivery and
transmission infrastructure made under formula ratemaking and
reduced other operations and maintenance expenses related to
natural gas delivery. These positive factors were partially offset
by a seasonal rate redesign and the timing of revenues under
formula ratemaking related to electric delivery, as well as lower
recognized allowed returns on equity for the electric delivery and
transmission businesses.
Other Results from Continuing Operations, including Parent and
ATXI
Other GAAP and core earnings, including those of the parent
company and Ameren Transmission Company of Illinois (ATXI), for the second quarter of
2015 were $6 million, compared with a
GAAP and core loss of $4 million for
the second quarter of 2014. These improvements reflected an
increase in earnings at ATXI to $7
million from $4 million as a
result of increased investments in electric transmission
infrastructure made under formula ratemaking, reduced by a lower
recognized allowed return on equity. The comparison also benefited
from a lower effective income tax rate and decreased parent company
interest charges as a result of the May
2014 maturity of $425 million
of 8.875% senior notes that were replaced with lower-cost,
short-term debt.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Friday, July 31, to discuss second quarter 2015
earnings, earnings guidance, 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 "Q2
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 July 31
through Aug. 6 by dialing U.S. and Canada 877.660.6853 or international
201.612.7415, and entering ID number 13613884.
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 and core
earnings per share guidance, which are non-GAAP measures and may
not be comparable to those of other companies. A reconciliation of
non-GAAP information to GAAP information has been included in this
release. Generally, core earnings (or losses) include earnings or
losses attributable to Ameren Corporation 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 loss
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 consolidated 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 which may
result from Ameren Missouri's notice of appeal of the Missouri
Public Service Commission's April
2015 electric rate order; Ameren Missouri's December 2014 Missouri Energy Efficiency
Investment Act (MEEIA) filing; Ameren Illinois' April 2015 annual electric delivery service
formula update filing; Ameren Illinois' January 2015 natural gas delivery service rate
case filing; 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; 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;
- 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 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 customer energy
efficiency programs and the related amount of any net shared
benefits and performance incentive earned under the current and
proposed MEEIA plans;
- 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 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;
- the financial condition of Noranda Aluminum, Inc. and any
reductions in the sales volumes used by its aluminum smelter in
southeast Missouri, compared to
the sales volumes included in Ameren Missouri's electric
rates;
- 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 systems, such as leaks,
explosions and mechanical problems, and compliance with natural gas
distribution safety regulations;
- 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
the Taum Sauk pumped-storage hydroelectric 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.
New factors emerge from time to time and it is not possible for
management to predict all of 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
June 30,
|
|
Six Months
Ended
June 30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
|
1,250
|
|
|
$
|
1,235
|
|
|
$
|
2,393
|
|
|
$
|
2,341
|
|
Gas
|
151
|
|
|
184
|
|
|
564
|
|
|
672
|
|
Total operating
revenues
|
1,401
|
|
|
1,419
|
|
|
2,957
|
|
|
3,013
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
205
|
|
|
198
|
|
|
411
|
|
|
402
|
|
Purchased
power
|
101
|
|
|
112
|
|
|
240
|
|
|
226
|
|
Gas purchased for
resale
|
46
|
|
|
79
|
|
|
282
|
|
|
383
|
|
Other operations and
maintenance
|
427
|
|
|
411
|
|
|
828
|
|
|
829
|
|
Provision for
Callaway construction and operating license
|
69
|
|
|
—
|
|
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
200
|
|
|
183
|
|
|
393
|
|
|
364
|
|
Taxes other than
income taxes
|
116
|
|
|
114
|
|
|
241
|
|
|
241
|
|
Total operating
expenses
|
1,164
|
|
|
1,097
|
|
|
2,464
|
|
|
2,445
|
|
Operating
Income
|
237
|
|
|
322
|
|
|
493
|
|
|
568
|
|
Other Income and
Expenses:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
16
|
|
|
21
|
|
|
35
|
|
|
39
|
|
Miscellaneous
expense
|
6
|
|
|
4
|
|
|
17
|
|
|
13
|
|
Total other
income
|
10
|
|
|
17
|
|
|
18
|
|
|
26
|
|
Interest
Charges
|
89
|
|
|
89
|
|
|
177
|
|
|
181
|
|
Income Before
Income Taxes
|
158
|
|
|
250
|
|
|
334
|
|
|
413
|
|
Income
Taxes
|
59
|
|
|
99
|
|
|
125
|
|
|
163
|
|
Income from
Continuing Operations
|
99
|
|
|
151
|
|
|
209
|
|
|
250
|
|
Income (Loss) from
Discontinued Operations, Net of Taxes
|
52
|
|
|
(1)
|
|
|
52
|
|
|
(2)
|
|
Net
Income
|
151
|
|
|
150
|
|
|
261
|
|
|
248
|
|
Less: Net Income
from Continuing Operations Attributable to Noncontrolling
Interests
|
1
|
|
|
1
|
|
|
3
|
|
|
3
|
|
Net Income (Loss)
Attributable to Ameren Corporation:
|
|
|
|
|
|
|
|
Continuing
Operations
|
98
|
|
|
150
|
|
|
206
|
|
|
247
|
|
Discontinued
Operations
|
52
|
|
|
(1)
|
|
|
52
|
|
|
(2)
|
|
Net Income
Attributable to Ameren Corporation
|
$
|
150
|
|
|
$
|
149
|
|
|
$
|
258
|
|
|
$
|
245
|
|
Earnings (Loss)
per Common Share – Basic and Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
|
0.40
|
|
|
$
|
0.62
|
|
|
$
|
0.85
|
|
|
$
|
1.02
|
|
Discontinued
Operations
|
0.21
|
|
|
(0.01)
|
|
|
0.21
|
|
|
(0.01)
|
|
Earnings per
Common Share – Basic and Diluted
|
$
|
0.61
|
|
|
$
|
0.61
|
|
|
$
|
1.06
|
|
|
$
|
1.01
|
|
Average Common
Shares Outstanding - Basic
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
BALANCE SHEET
|
(Unaudited, in
millions)
|
|
|
June 30,
2015
|
|
December 31,
2014
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
2
|
|
|
$
|
5
|
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
456
|
|
|
423
|
|
Unbilled
revenue
|
302
|
|
|
265
|
|
Miscellaneous
accounts and notes receivable
|
112
|
|
|
81
|
|
Materials and
supplies
|
500
|
|
|
524
|
|
Current regulatory
assets
|
223
|
|
|
295
|
|
Current accumulated
deferred income taxes, net
|
286
|
|
|
352
|
|
Other current
assets
|
95
|
|
|
86
|
|
Assets of
discontinued operations
|
15
|
|
|
15
|
|
Total current
assets
|
1,991
|
|
|
2,046
|
|
Property and
Plant, Net
|
17,986
|
|
|
17,424
|
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
555
|
|
|
549
|
|
Goodwill
|
411
|
|
|
411
|
|
Regulatory
assets
|
1,560
|
|
|
1,582
|
|
Other
assets
|
649
|
|
|
664
|
|
Total investments and
other assets
|
3,175
|
|
|
3,206
|
|
TOTAL
ASSETS
|
$
|
23,152
|
|
|
$
|
22,676
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
|
395
|
|
|
$
|
120
|
|
Short-term
debt
|
886
|
|
|
714
|
|
Accounts and wages
payable
|
486
|
|
|
711
|
|
Taxes
accrued
|
126
|
|
|
46
|
|
Interest
accrued
|
98
|
|
|
85
|
|
Current regulatory
liabilities
|
120
|
|
|
106
|
|
Other current
liabilities
|
413
|
|
|
434
|
|
Liabilities of
discontinued operations
|
32
|
|
|
33
|
|
Total current
liabilities
|
2,556
|
|
|
2,249
|
|
Long-term Debt,
Net
|
5,981
|
|
|
6,120
|
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
3,931
|
|
|
3,923
|
|
Accumulated deferred
investment tax credits
|
64
|
|
|
64
|
|
Regulatory
liabilities
|
1,912
|
|
|
1,850
|
|
Asset retirement
obligations
|
589
|
|
|
396
|
|
Pension and other
postretirement benefits
|
689
|
|
|
705
|
|
Other deferred
credits and liabilities
|
524
|
|
|
514
|
|
Total deferred
credits and other liabilities
|
7,709
|
|
|
7,452
|
|
Ameren Corporation
Stockholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
|
2
|
|
Other paid-in
capital, principally premium on common stock
|
5,606
|
|
|
5,617
|
|
Retained
earnings
|
1,161
|
|
|
1,103
|
|
Accumulated other
comprehensive loss
|
(5)
|
|
|
(9)
|
|
Total Ameren
Corporation stockholders' equity
|
6,764
|
|
|
6,713
|
|
Noncontrolling
Interests
|
142
|
|
|
142
|
|
Total
equity
|
6,906
|
|
|
6,855
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
|
23,152
|
|
|
$
|
22,676
|
|
AMEREN CORPORATION
(AEE)
|
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in
millions)
|
|
|
Six Months Ended
June 30,
|
|
2015
|
|
2014
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$
|
261
|
|
|
$
|
248
|
|
(Income) loss from
discontinued operations, net of taxes
|
(52)
|
|
|
2
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Provision for
Callaway construction and operating license
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
387
|
|
|
349
|
|
Amortization of
nuclear fuel
|
47
|
|
|
47
|
|
Amortization of debt
issuance costs and premium/discounts
|
11
|
|
|
11
|
|
Deferred income taxes
and investment tax credits, net
|
116
|
|
|
178
|
|
Allowance for equity
funds used during construction
|
(11)
|
|
|
(16)
|
|
Stock-based
compensation costs
|
14
|
|
|
15
|
|
Other
|
(13)
|
|
|
(8)
|
|
Changes in assets and
liabilities
|
(61)
|
|
|
(168)
|
|
Net cash provided by
operating activities - continuing operations
|
768
|
|
|
658
|
|
Net cash used in
operating activities - discontinued operations
|
(1)
|
|
|
(4)
|
|
Net cash provided
by operating activities
|
767
|
|
|
654
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(846)
|
|
|
(883)
|
|
Nuclear fuel
expenditures
|
(28)
|
|
|
(26)
|
|
Purchases of
securities - nuclear decommissioning trust fund
|
(117)
|
|
|
(290)
|
|
Sales and maturities
of securities - nuclear decommissioning trust fund
|
110
|
|
|
283
|
|
Proceeds from note
receivable - Illinois Power Marketing Company
|
10
|
|
|
70
|
|
Contributions to note
receivable - Illinois Power Marketing Company
|
(7)
|
|
|
(78)
|
|
Other
|
3
|
|
|
2
|
|
Net cash used in
investing activities - continuing operations
|
(875)
|
|
|
(922)
|
|
Net cash provided by
investing activities - discontinued operations
|
—
|
|
|
152
|
|
Net cash used in
investing activities
|
(875)
|
|
|
(770)
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(199)
|
|
|
(194)
|
|
Dividends paid to
noncontrolling interest holders
|
(3)
|
|
|
(3)
|
|
Short-term debt,
net
|
172
|
|
|
425
|
|
Redemptions and
maturities of long-term debt
|
(114)
|
|
|
(692)
|
|
Issuances of
long-term debt
|
249
|
|
|
598
|
|
Capital issuance
costs
|
(2)
|
|
|
(4)
|
|
Other
|
2
|
|
|
2
|
|
Net cash provided by
financing activities - continuing operations
|
105
|
|
|
132
|
|
Net cash used in
financing activities - discontinued operations
|
—
|
|
|
—
|
|
Net cash provided
by financing activities
|
105
|
|
|
132
|
|
Net change in cash
and cash equivalents
|
(3)
|
|
|
16
|
|
Cash and cash
equivalents at beginning of year
|
5
|
|
|
30
|
|
Cash and cash
equivalents at end of period
|
$
|
2
|
|
|
$
|
46
|
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
|
|
June
30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
2,694
|
|
|
2,897
|
|
|
6,599
|
|
|
7,079
|
|
Commercial
|
3,556
|
|
|
3,560
|
|
|
7,145
|
|
|
7,222
|
|
Industrial
|
2,096
|
|
|
2,191
|
|
|
4,100
|
|
|
4,278
|
|
Off-system
|
2,113
|
|
|
1,438
|
|
|
3,837
|
|
|
2,891
|
|
Other
|
26
|
|
|
27
|
|
|
61
|
|
|
60
|
|
Ameren Missouri
total
|
10,485
|
|
|
10,113
|
|
|
21,742
|
|
|
21,530
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
1,024
|
|
|
935
|
|
|
2,443
|
|
|
2,241
|
|
Delivery service
only
|
1,463
|
|
|
1,635
|
|
|
3,300
|
|
|
3,833
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
651
|
|
|
591
|
|
|
1,396
|
|
|
1,284
|
|
Delivery service
only
|
2,340
|
|
|
2,348
|
|
|
4,521
|
|
|
4,641
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
437
|
|
|
477
|
|
|
930
|
|
|
924
|
|
Delivery service
only
|
2,521
|
|
|
2,600
|
|
|
5,120
|
|
|
5,188
|
|
Other
|
121
|
|
|
123
|
|
|
267
|
|
|
267
|
|
Ameren Illinois
total
|
8,557
|
|
|
8,709
|
|
|
17,977
|
|
|
18,378
|
|
Eliminate affiliate
sales
|
(88)
|
|
|
(50)
|
|
|
(96)
|
|
|
(50)
|
|
Ameren Total from
Continuing Operations
|
18,954
|
|
|
18,772
|
|
|
39,623
|
|
|
39,858
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
$
|
348
|
|
|
$
|
351
|
|
|
$
|
685
|
|
|
$
|
694
|
|
Commercial
|
328
|
|
|
317
|
|
|
576
|
|
|
563
|
|
Industrial
|
123
|
|
|
124
|
|
|
219
|
|
|
221
|
|
Off-system
|
45
|
|
|
47
|
|
|
89
|
|
|
83
|
|
Other
|
15
|
|
|
32
|
|
|
32
|
|
|
59
|
|
Ameren Missouri
total
|
$
|
859
|
|
|
$
|
871
|
|
|
$
|
1,601
|
|
|
$
|
1,620
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
$
|
107
|
|
|
$
|
101
|
|
|
$
|
218
|
|
|
$
|
223
|
|
Delivery service
only
|
85
|
|
|
77
|
|
|
163
|
|
|
154
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
53
|
|
|
54
|
|
|
107
|
|
|
115
|
|
Delivery service
only
|
56
|
|
|
48
|
|
|
102
|
|
|
88
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
19
|
|
|
25
|
|
|
40
|
|
|
52
|
|
Delivery service
only
|
13
|
|
|
10
|
|
|
28
|
|
|
20
|
|
Other
|
53
|
|
|
49
|
|
|
118
|
|
|
65
|
|
Ameren Illinois
total
|
$
|
386
|
|
|
$
|
364
|
|
|
$
|
776
|
|
|
$
|
717
|
|
ATXI
|
|
|
|
|
|
|
|
Transmission
services
|
$
|
17
|
|
|
$
|
9
|
|
|
$
|
37
|
|
|
$
|
19
|
|
Eliminate affiliate
revenues
|
(12)
|
|
|
(9)
|
|
|
(21)
|
|
|
(15)
|
|
Ameren Total from
Continuing Operations
|
$
|
1,250
|
|
|
$
|
1,235
|
|
|
$
|
2,393
|
|
|
$
|
2,341
|
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
|
|
June
30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric
Generation - kilowatthours (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
10,409
|
|
|
10,337
|
|
|
21,352
|
|
|
22,032
|
|
Fuel Cost per
kilowatthour (in cents):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.783
|
|
|
1.855
|
|
|
1.839
|
|
|
1.902
|
|
Gas Sales -
dekatherms (in thousands):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
2,876
|
|
|
2,770
|
|
|
10,820
|
|
|
11,293
|
|
Ameren
Illinois
|
27,269
|
|
|
28,364
|
|
|
99,058
|
|
|
106,311
|
|
Ameren
Total
|
30,145
|
|
|
31,134
|
|
|
109,878
|
|
|
117,604
|
|
|
|
|
June 30,
2015
|
|
|
|
December 31,
2014
|
Common
Stock:
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
|
|
242.6
|
|
|
|
|
242.6
|
|
Book value per
share
|
|
|
$
|
27.88
|
|
|
|
|
$
|
27.67
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
Common
equity
|
|
|
47.7%
|
|
|
|
|
48.7%
|
|
Preferred
stock
|
|
|
1.0%
|
|
|
|
|
1.0%
|
|
Debt, net of
cash
|
|
|
51.3%
|
|
|
|
|
50.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-second-quarter-2015-results-300121818.html
SOURCE Ameren Corporation