ST. LOUIS, Nov. 6, 2014 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced third quarter 2014 net income from
continuing operations of $294
million, or $1.20 per diluted
share, compared to third quarter 2013 net income from continuing
operations of $305 million, or
$1.25 per diluted share.
The year-over-year decrease in third quarter 2014 earnings from
continuing operations reflected this year's milder temperatures,
which reduced native load electric sales volumes, as well as a
higher effective income tax rate. In addition, depreciation and
amortization expenses increased from the year-ago quarter. Factors
positively affecting the earnings comparison included increased
rates, effective Jan. 1, 2014, for
Federal Energy Regulatory Commission (FERC)-regulated electric
transmission and Illinois natural
gas delivery services, as well as decreased interest charges.
"Despite very mild summer weather in the third quarter, we
remain on track to deliver solid earnings results in 2014 as we
continue to execute our plan very well, which is enhancing value
for our customers and our shareholders," said Warner L. Baxter, chairman, president and chief
executive officer of Ameren Corporation. "The mild third quarter
weather erased much of the weather-related benefits realized
earlier in the year. As a result, our guidance range for 2014
earnings from continuing operations has been narrowed to
$2.30 to $2.45 per share, from our
prior range of $2.30 to $2.50 per
share.
"We remain focused on exercising disciplined cost management, as
well as successfully executing several key energy infrastructure
projects for the benefit of our customers. In Missouri, we are replacing the reactor vessel
head at our Callaway Nuclear Energy Center during its scheduled
refueling and maintenance outage, completing the installation of
additional environmental controls at our Labadie Energy Center, and
placing into service the largest investor-owned solar facility in
the state, all by year-end. In Illinois, our grid modernization plan,
including installation of advanced electric and gas meters, and our
construction activities for the Illinois Rivers transmission
project are proceeding as planned."
Ameren recorded net income from continuing operations for the
nine months ended Sept. 30, 2014, of
$541 million, or $2.21 per diluted share, compared to net income
from continuing operations for the nine months ended Sept. 30, 2013, of $464
million, or $1.91 per diluted
share. This earnings increase reflected the absence in the current
year period of 2013 Callaway Nuclear Energy Center refueling and
maintenance outage expenses, as well as a 2013 Missouri fuel
adjustment clause-related charge. In 2014, a Callaway refueling outage is occurring in the
fourth quarter, compared to a second quarter refueling outage in
2013. Other factors contributing to the positive earnings
comparison included increased rates, effective Jan. 1, 2014, for FERC-regulated electric
transmission and Illinois natural
gas delivery services, as well as decreased interest charges. In
addition, the benefits of colder winter temperatures, partially
offset by milder summer temperatures, drove increased native load
electric and natural gas sales volumes. Factors having a negative
effect on the earnings comparison included a higher effective
income tax rate and increased depreciation and amortization
expenses.
Guidance for Earnings from Continuing Operations
Ameren now expects diluted earnings per share to be in a range
of $2.30 to $2.45 for 2014, compared
to the prior range of $2.30 to $2.50
per share, reflecting the effect of mild third quarter 2014
temperatures. These mild temperatures reduced third quarter 2014
earnings by an estimated nine cents
per share compared to normal.
Ameren continues to expect diluted earnings per share to grow at
a 7% to 10% compound annual rate from 2013 through 2018. This
expected five-year growth is driven primarily by infrastructure
investments in FERC-regulated electric transmission and
Illinois-regulated electric and
natural gas delivery services.
Ameren's earnings guidance assumes normal temperatures for the
fourth quarter of this year 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 third quarter 2014 earnings were
$222 million, compared to third
quarter 2013 earnings of $238
million. This earnings decrease reflected this year's milder
temperatures, which reduced native load electric sales volumes, as
well as higher other operations and maintenance expenses. The
earnings comparison was also negatively affected by higher interest
charges and increased depreciation and amortization expenses. A
lower effective income tax rate positively affected the
comparison.
Ameren Illinois Segment Results
Ameren Illinois segment third quarter 2014 earnings were
$75 million, compared to third
quarter 2013 earnings of $77 million.
This earnings decrease reflected this year's milder temperatures,
which reduced native load electric sales volumes. Factors having a
positive effect on the earnings comparison included increased
rates, effective Jan. 1, 2014, for
FERC-regulated electric transmission and Illinois natural gas delivery services.
Parent Company and Other
The Parent Company and Other loss from continuing operations for
the third quarter of 2014 was $3
million, compared to a loss of $10
million for the third quarter of 2013. This reduced 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. Other factors contributing to the
reduced loss included decreased interest charges, resulting from
the May 2014 maturity of parent
company 8.875% senior notes, and increased earnings from Ameren
Transmission Company of Illinois,
reflecting infrastructure investments made under FERC ratemaking.
The earnings effect of these positive factors was partially offset
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 Thursday, Nov. 6, to discuss third quarter 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
"Q3 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 playback of the conference call will be
available beginning at approximately noon
Central Time from Nov. 6 through Nov.
13 by dialing U.S. and Canada 877.660.6853 or international
201.612.7415, and entering ID number 13594250.
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
10,300 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 Illinois' appeals of the Illinois Commerce
Commission's electric and natural gas rate orders issued in
December 2013; Ameren Illinois'
April 2014 annual electric delivery
service formula update filing; FERC settlement procedures regarding
a potential Ameren Illinois electric transmission rate refund; the
complaint case filed with 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 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 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;
- the effectiveness of Ameren Missouri's energy efficiency
programs and the ability to earn incentive awards under the
Missouri Energy Efficiency Investment Act;
- the timing of increasing capital expenditure and operating
expense requirements and our ability to timely recover these
costs;
- 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 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;
- 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 claim
against an insurer 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 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, workforce 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
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
|
|
Nine Months
Ended
|
|
September
30,
|
|
September
30,
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$ 1,523
|
|
$ 1,507
|
|
$ 3,864
|
|
$ 3,823
|
Gas
|
147
|
|
131
|
|
819
|
|
693
|
Total operating
revenues
|
1,670
|
|
1,638
|
|
4,683
|
|
4,516
|
|
|
|
|
|
|
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
236
|
|
222
|
|
638
|
|
648
|
Purchased
power
|
112
|
|
128
|
|
335
|
|
400
|
Gas purchased for
resale
|
49
|
|
42
|
|
432
|
|
344
|
Other operations and
maintenance
|
404
|
|
383
|
|
1,236
|
|
1,229
|
Depreciation and
amortization
|
187
|
|
175
|
|
551
|
|
528
|
Taxes other than
income taxes
|
121
|
|
121
|
|
362
|
|
354
|
Total operating
expenses
|
1,109
|
|
1,071
|
|
3,554
|
|
3,503
|
Operating
Income
|
561
|
|
567
|
|
1,129
|
|
1,013
|
|
|
|
|
|
|
|
|
Other Income and
Expense:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
21
|
|
20
|
|
60
|
|
51
|
Miscellaneous
expense
|
7
|
|
5
|
|
20
|
|
18
|
Total other
income
|
14
|
|
15
|
|
40
|
|
33
|
|
|
|
|
|
|
|
|
Interest
Charges
|
85
|
|
88
|
|
266
|
|
289
|
|
|
|
|
|
|
|
|
Income Before
Income Taxes
|
490
|
|
494
|
|
903
|
|
757
|
|
|
|
|
|
|
|
|
Income
Taxes
|
194
|
|
187
|
|
357
|
|
288
|
|
|
|
|
|
|
|
|
Income from
Continuing Operations
|
296
|
|
307
|
|
546
|
|
469
|
|
|
|
|
|
|
|
|
Loss from
Discontinued Operations, Net of Taxes
|
(1)
|
|
(3)
|
|
(3)
|
|
(212)
|
|
|
|
|
|
|
|
|
Net
Income
|
295
|
|
304
|
|
543
|
|
257
|
|
|
|
|
|
|
|
|
Less: Net
Income from Continuing Operations Attributable to Noncontrolling
Interests
|
2
|
|
2
|
|
5
|
|
5
|
|
|
|
|
|
|
|
|
Net Income (Loss)
Attributable to Ameren Corporation:
|
|
|
|
|
|
|
|
Continuing
Operations
|
294
|
|
305
|
|
541
|
|
464
|
Discontinued
Operations
|
(1)
|
|
(3)
|
|
(3)
|
|
(212)
|
|
|
|
|
|
|
|
|
Net Income
Attributable to Ameren Corporation
|
$ 293
|
|
$ 302
|
|
$ 538
|
|
$ 252
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$ 1.21
|
|
$ 1.26
|
|
$ 2.23
|
|
$ 1.92
|
Discontinued
Operations
|
-
|
|
(0.01)
|
|
(0.01)
|
|
(0.88)
|
Earnings per
Common Share – Basic
|
$ 1.21
|
|
$ 1.25
|
|
$ 2.22
|
|
$ 1.04
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$ 1.20
|
|
$ 1.25
|
|
$ 2.21
|
|
$ 1.91
|
Discontinued
Operations
|
-
|
|
(0.01)
|
|
(0.01)
|
|
(0.88)
|
Earnings per
Common Share – Diluted
|
$ 1.20
|
|
$ 1.24
|
|
$ 2.20
|
|
$ 1.03
|
|
|
|
|
|
|
|
|
Average Common
Shares Outstanding – Basic
|
242.6
|
|
242.6
|
|
242.6
|
|
242.6
|
Average Common
Shares Outstanding – Diluted
|
244.3
|
|
245.1
|
|
244.3
|
|
244.4
|
AMEREN CORPORATION
(AEE)
|
CONSOLIDATED
BALANCE SHEET
|
(Unaudited, in
millions)
|
|
|
|
|
|
September
30,
|
|
December
31,
|
|
2014
|
|
2013
|
|
|
|
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
13
|
|
$
30
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
467
|
|
404
|
Unbilled
revenue
|
203
|
|
304
|
Miscellaneous
accounts and notes receivable
|
117
|
|
196
|
Materials and
supplies
|
561
|
|
526
|
Current regulatory
assets
|
199
|
|
156
|
Current accumulated
deferred income taxes, net
|
301
|
|
106
|
Other current
assets
|
66
|
|
85
|
Assets of
discontinued operations
|
15
|
|
165
|
Total current
assets
|
1,942
|
|
1,972
|
Property and
Plant, Net
|
16,991
|
|
16,205
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
529
|
|
494
|
Goodwill
|
411
|
|
411
|
Intangible
assets
|
20
|
|
22
|
Regulatory
assets
|
1,259
|
|
1,240
|
Other
assets
|
724
|
|
698
|
Total investments and
other assets
|
2,943
|
|
2,865
|
TOTAL
ASSETS
|
$
21,876
|
|
$ 21,042
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
119
|
|
$
534
|
Short-term
debt
|
753
|
|
368
|
Accounts and wages
payable
|
466
|
|
806
|
Taxes
accrued
|
161
|
|
55
|
Interest
accrued
|
105
|
|
86
|
Current regulatory
liabilities
|
132
|
|
216
|
Other current
liabilities
|
350
|
|
351
|
Liabilities of
discontinued operations
|
33
|
|
45
|
Total current
liabilities
|
2,119
|
|
2,461
|
Long-term Debt,
Net
|
5,825
|
|
5,504
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
3,845
|
|
3,250
|
Accumulated deferred
investment tax credits
|
59
|
|
63
|
Regulatory
liabilities
|
1,805
|
|
1,705
|
Asset retirement
obligations
|
385
|
|
369
|
Pension and other
postretirement benefits
|
400
|
|
466
|
Other deferred
credits and liabilities
|
522
|
|
538
|
Total deferred
credits and other liabilities
|
7,016
|
|
6,391
|
Ameren Corporation
Stockholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
2
|
Other paid-in
capital, principally premium on common stock
|
5,612
|
|
5,632
|
Retained
earnings
|
1,154
|
|
907
|
Accumulated other
comprehensive income
|
6
|
|
3
|
Total Ameren
Corporation stockholders' equity
|
6,774
|
|
6,544
|
Noncontrolling
Interests
|
142
|
|
142
|
Total
equity
|
6,916
|
|
6,686
|
TOTAL LIABILITIES
AND EQUITY
|
$
21,876
|
|
$ 21,042
|
AMEREN CORPORATION
(AEE)
|
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in
millions)
|
|
|
|
|
|
Nine Months
Ended
|
|
September
30,
|
|
2014
|
|
2013
|
Cash Flows From
Operating Activities:
|
|
|
|
Net
income
|
$ 543
|
|
$ 257
|
Loss from
discontinued operations, net of taxes
|
3
|
|
212
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
526
|
|
500
|
Amortization of
nuclear fuel
|
70
|
|
46
|
Amortization of debt
issuance costs and premium/discounts
|
16
|
|
18
|
Deferred income taxes
and investment tax credits, net
|
370
|
|
258
|
Allowance for equity
funds used during construction
|
(26)
|
|
(26)
|
Stock-based
compensation costs
|
20
|
|
19
|
Other
|
(9)
|
|
14
|
Changes in assets and
liabilities
|
(305)
|
|
(83)
|
Net cash provided by
operating activities - continuing operations
|
1,208
|
|
1,215
|
Net cash provided by
(used in) operating activities - discontinued operations
|
(5)
|
|
99
|
Net cash provided
by operating activities
|
1,203
|
|
1,314
|
|
|
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(1,310)
|
|
(943)
|
Nuclear fuel
expenditures
|
(28)
|
|
(34)
|
Purchases of
securities - nuclear decommissioning trust fund
|
(365)
|
|
(147)
|
Sales and maturities
of securities - nuclear decommissioning trust fund
|
354
|
|
134
|
Proceeds from note
receivable - Illinois Power Marketing Company
|
79
|
|
-
|
Contributions to note
receivable - Illinois Power Marketing Company
|
(84)
|
|
-
|
Other
|
3
|
|
(1)
|
Net cash used in
investing activities - continuing operations
|
(1,351)
|
|
(991)
|
Net cash provided by
(used in) investing activities - discontinued operations
|
139
|
|
(42)
|
Net cash used in
investing activities
|
(1,212)
|
|
(1,033)
|
|
|
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(291)
|
|
(291)
|
Dividends paid to
noncontrolling interest holders
|
(5)
|
|
(5)
|
Short-term debt,
net
|
385
|
|
-
|
Redemptions of
long-term debt
|
(692)
|
|
-
|
Issuances of
long-term debt
|
598
|
|
-
|
Capital issuance
costs
|
(4)
|
|
-
|
Other
|
1
|
|
-
|
Net cash used in
financing activities - continuing operations
|
(8)
|
|
(296)
|
Net cash used in
financing activities - discontinued operations
|
-
|
|
-
|
Net cash used in
financing activities
|
(8)
|
|
(296)
|
|
|
|
|
Net change in cash
and cash equivalents
|
(17)
|
|
(15)
|
Cash and cash
equivalents at beginning of year
|
30
|
|
209
|
Cash and cash
equivalents at end of period
|
13
|
|
194
|
|
|
|
|
Less cash and cash
equivalents at end of period - discontinued
operations
|
-
|
|
25
|
Cash and cash
equivalents at end of period - continuing
operations
|
$
13
|
|
$ 169
|
AMEREN CORPORATION
(AEE)
|
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
|
|
|
|
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
3,400
|
|
3,579
|
|
10,479
|
|
10,244
|
|
Commercial
|
3,984
|
|
4,060
|
|
11,206
|
|
11,123
|
|
Industrial
|
2,233
|
|
2,290
|
|
6,511
|
|
6,539
|
|
Other
|
29
|
|
28
|
|
89
|
|
89
|
|
Native load
subtotal
|
9,646
|
|
9,957
|
|
28,285
|
|
27,995
|
|
Off-system and
wholesale
|
1,895
|
|
985
|
|
4,786
|
|
4,653
|
|
Subtotal
|
11,541
|
|
10,942
|
|
33,071
|
|
32,648
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
1,199
|
|
1,230
|
|
3,440
|
|
4,375
|
|
Delivery service
only
|
1,798
|
|
1,984
|
|
5,631
|
|
4,481
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
649
|
|
676
|
|
1,933
|
|
1,956
|
|
Delivery service
only
|
2,589
|
|
2,688
|
|
7,230
|
|
7,121
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
416
|
|
417
|
|
1,340
|
|
1,273
|
|
Delivery service
only
|
2,732
|
|
2,727
|
|
7,920
|
|
8,133
|
|
Other
|
119
|
|
130
|
|
386
|
|
395
|
|
Native load
subtotal
|
9,502
|
|
9,852
|
|
27,880
|
|
27,734
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
sales
|
(17)
|
|
-
|
|
(67)
|
|
(41)
|
|
Ameren Total from
Continuing Operations
|
21,026
|
|
20,794
|
|
60,884
|
|
60,341
|
|
|
|
|
|
|
|
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
|
Residential
|
$
436
|
|
$
459
|
|
$
1,130
|
|
$ 1,130
|
|
Commercial
|
393
|
|
404
|
|
956
|
|
970
|
|
Industrial
|
152
|
|
160
|
|
373
|
|
387
|
|
Other
|
41
|
|
21
|
|
100
|
|
39
|
|
Native load
subtotal
|
1,022
|
|
1,044
|
|
2,559
|
|
2,526
|
|
Off-system and
wholesale
|
54
|
|
31
|
|
137
|
|
141
|
|
Subtotal
|
$
1,076
|
|
$ 1,075
|
|
$
2,696
|
|
$ 2,667
|
|
|
|
|
|
|
|
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
$
130
|
|
$
123
|
|
$
353
|
|
$
413
|
|
Delivery service
only
|
91
|
|
103
|
|
245
|
|
211
|
|
Commercial
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
65
|
|
60
|
|
180
|
|
168
|
|
Delivery service
only
|
55
|
|
63
|
|
143
|
|
143
|
|
Industrial
|
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
19
|
|
17
|
|
71
|
|
53
|
|
Delivery service
only
|
11
|
|
11
|
|
31
|
|
34
|
|
Other
|
74
|
|
55
|
|
139
|
|
138
|
|
Native load
subtotal
|
445
|
|
432
|
|
1,162
|
|
1,160
|
|
|
|
|
|
|
|
|
|
Eliminate affiliate
revenues and other
|
2
|
|
-
|
|
6
|
|
(4)
|
|
Ameren Total from
Continuing Operations
|
$
1,523
|
|
$ 1,507
|
|
$
3,864
|
|
$ 3,823
|
|
|
|
|
|
|
|
|
|
Electric
Generation - megawatthours (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
11.7
|
|
11.1
|
|
33.7
|
|
32.6
|
|
|
|
|
|
|
|
|
|
Fuel Cost per
kilowatthour (cents):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.951
|
|
1.933
|
|
1.919
|
|
1.856
|
|
|
|
|
|
|
|
|
|
Gas Sales -
decatherms (in thousands):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
2,257
|
|
2,292
|
|
13,550
|
|
13,368
|
|
Ameren
Illinois
|
23,823
|
|
24,100
|
|
130,131
|
|
119,496
|
|
Ameren
Total
|
26,080
|
|
26,392
|
|
143,681
|
|
132,864
|
|
|
|
|
|
|
|
|
|
Net Income (Loss)
by Segment (in millions):
|
|
|
|
|
|
|
|
|
Ameren
Missouri
|
$
222
|
|
$
238
|
|
$
395
|
|
$
362
|
|
Ameren
Illinois
|
75
|
|
77
|
|
156
|
|
139
|
|
Other
|
(3)
|
|
(10)
|
|
(10)
|
|
(37)
|
|
Ameren
Total
|
$
294
|
|
$
305
|
|
$
541
|
|
$
464
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
|
|
December
31,
|
|
|
|
|
2014
|
|
|
|
2013
|
Common
Stock:
|
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
|
242.6
|
|
|
|
242.6
|
|
Book value per
share
|
|
|
$
27.92
|
|
|
|
$ 26.97
|
|
|
|
|
|
|
|
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
|
Common
equity
|
|
|
49.8%
|
|
|
|
50.1%
|
|
Preferred
stock
|
|
|
1.0%
|
|
|
|
1.1%
|
|
Debt, net of
cash
|
|
|
49.2%
|
|
|
|
48.8%
|
SOURCE Ameren Corporation