ST. LOUIS, Nov. 4, 2016 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced third quarter 2016 net income attributable to common shareholders of $369
million, or $1.52 per diluted share, compared to third quarter 2015 net income attributable
to common shareholders of $343 million, or $1.41 per diluted
share.
The year-over-year third quarter earnings increase reflected higher 2016 electric sales to residential and commercial
customers, driven by warmer summer temperatures. Earnings in 2016 also benefited from increased electric transmission and
electric and natural gas distribution infrastructure investments made by Ameren Transmission Company of Illinois (ATXI) and Ameren Illinois under modern, constructive regulatory frameworks. These positive factors
were partially offset by lower electric sales to the New Madrid, Missouri aluminum smelter. The
smelter, which was historically Ameren Missouri's largest customer and was formerly owned by Noranda Aluminum, Inc., suspended
operations in early 2016. Third quarter 2016 results also reflected increased Ameren Missouri depreciation expense.
"We are on track to deliver strong earnings results for 2016," said Warner L. Baxter, chairman,
president and chief executive officer of Ameren Corporation. "Our team continued to successfully execute all elements of our
strategy, including allocating capital to jurisdictions with modern, constructive regulatory frameworks and managing costs in a
disciplined manner. That performance drove strong third quarter earnings, which also benefited from warmer-than-normal summer
temperatures. As a result, I am pleased to report that we have raised our 2016 guidance to a range of $2.65 to $2.75 per share, up from our prior range of $2.45 to $2.65 per
share."
Ameren recorded net income attributable to common shareholders in accordance with Generally Accepted Accounting Principles
(GAAP) for the nine months ended Sept. 30, 2016, of $621 million, or
$2.56 per diluted share, compared to GAAP net income attributable to common shareholders of
$601 million, or $2.47 per diluted share, for the same period in
2015. Excluding certain items discussed below, Ameren recorded core earnings of $592 million, or
$2.44 per diluted share, for the nine months ended Sept. 30,
2015.
GAAP earnings for the first nine months of 2015 included results from discontinued operations and a loss provision for
discontinuing the pursuit of a construction and operating license (COL) for a second nuclear unit at Ameren Missouri's Callaway Energy Center, but these two items were excluded from core earnings. The year-over-year
nine-month earnings comparisons reflected increased 2016 electric transmission and electric and natural gas distribution
infrastructure investments made by ATXI and Ameren Illinois. The earnings comparisons also benefited from increased Illinois natural gas distribution service rates, higher summer 2016 electric sales to residential and
commercial customers driven by warmer temperatures, as well as first quarter 2016 tax benefits associated with share-based
compensation. These factors were partially offset by lower electric sales to the New Madrid
smelter, the 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center, and unfavorable net impacts of
the 2015 Missouri energy efficiency plan.
As reflected in the table below, the following items were excluded from core earnings for the nine months ended Sept. 30, 2015:
- Results from discontinued operations, which increased 2015 GAAP net income for the nine-month period by $52 million, primarily due to recognition of a tax benefit related to the resolution of an uncertain tax
position.
- A provision for discontinuing pursuit of a COL for a second nuclear unit at Ameren Missouri's Callaway Energy Center, which
decreased 2015 net income from continuing operations for the nine-month period by $43
million.
A reconciliation of GAAP to core earnings, including per share amounts, is as follows:
|
Nine Months Ended
|
|
Sept. 30,
|
|
2016
|
2015
|
GAAP Earnings / Diluted EPS
|
$
|
621
|
|
$
|
2.56
|
|
$
|
601
|
|
$
|
2.47
|
|
Results from discontinued operations
|
|
|
|
|
Operating income before income tax
|
—
|
|
—
|
|
(3)
|
|
(0.01)
|
|
Income tax benefit
|
—
|
|
—
|
|
(49)
|
|
(0.20)
|
|
Income from discontinued operations, net of taxes
|
—
|
|
—
|
|
(52)
|
|
(0.21)
|
|
|
|
|
|
|
Provision for Callaway COL
|
|
|
|
|
Provision before income tax
|
—
|
|
—
|
|
69
|
|
0.29
|
|
Income tax expense
|
—
|
|
—
|
|
(26)
|
|
(0.11)
|
|
Provision, net of taxes
|
—
|
|
—
|
|
43
|
|
0.18
|
|
Core Earnings / Diluted EPS
|
$
|
621
|
|
$
|
2.56
|
|
$
|
592
|
|
$
|
2.44
|
|
Earnings Guidance
Ameren now expects its 2016 earnings to be in a range of $2.65 to $2.75 per diluted share, an
increase from its prior range of $2.45 to $2.65 per diluted share. This updated guidance reflects
strong year-to-date results and continues to include an estimated 15 cents per share reduction
related to the expected temporary net effect of significantly lower electric sales to the New
Madrid smelter.
Earnings guidance for 2016 assumes normal temperatures for the last three months of this year and is subject to the effects
of, among other things: 30-year U.S. Treasury bond yields; regulatory, judicial and legislative actions; energy center and energy
distribution 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 2016 earnings were $241 million, compared to third quarter
2015 earnings of $239 million. The year-over-year earnings improvement reflected higher 2016
electric sales to residential and commercial customers, driven by warmer summer temperatures. This positive factor was partially
offset by lower electric sales to the New Madrid smelter and higher depreciation expense.
Ameren Illinois Segment Results
Ameren Illinois segment third quarter 2016 earnings were $119 million, compared to third quarter
2015 earnings of $98 million. The year-over-year earnings improvement reflected increased
investments in electric transmission and distribution infrastructure, as well as increased electric sales, driven by warmer
summer temperatures.
Other Results from Continuing Operations, including ATXI and Parent
Other earnings, including those of ATXI and the parent company, for the third quarter of 2016 were $9
million, compared to third quarter 2015 earnings of $6 million. The higher earnings
reflected an increase in ATXI earnings to $17 million from $9
million, primarily as a result of increased investments in electric transmission infrastructure, partially offset by
increased parent company interest charges resulting from the November 2015 issuance of $700 million of senior notes that replaced 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, Nov. 4, to discuss third quarter 2016 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 "Q3 2016 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 conference call will be available for replay on
Ameren's website for one year. In addition, a telephone replay will be available beginning at approximately noon Central Time from Nov. 4 through Nov. 11 by dialing U.S. and Canada 877.660.6853 or international 201.612.7415, and entering ID number 13648680.
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 distribution and transmission service, as
well as natural gas distribution service, while Ameren Missouri provides vertically integrated electric service, with generating
capacity of over 10,200 megawatts, and natural gas distribution 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 Ameren common shareholders 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 Annual Report on Form 10-K for the year ended December 31, 2015, 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 those that may result from the complaint case filed in February 2015 with the Federal Energy
Regulatory Commission seeking a reduction in the allowed base return on common equity under the Midcontinent Independent System
Operator tariff, Ameren Missouri's July 2016 electric rate case filing, Ameren Missouri's appeal
of a Missouri Public Service Commission (MoPSC) order that clarified the method applied to determine an input used to calculate
its performance incentive under the Missouri Energy Efficiency Investment Act (MEEIA) 2013 plan, Ameren Illinois' April 2016 annual electric distribution service formula rate update filing, and future regulatory, judicial,
or legislative actions that 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;
- 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 federal, state, or local 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 private 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 revenues and performance
incentives earned under its 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;
- disruptions in the delivery of fuel, failure of our fuel suppliers to provide adequate quantities or quality of fuel, or
lack of adequate inventories of fuel, including ultra-low-sulfur coal used for Ameren Missouri's compliance with environmental
regulations;
- 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, or,
in the absence of insurance, the ability to recover uninsured losses from our customers;
- business and economic conditions, including their impact on key customers, interest rates, collection of our receivable
balances, and demand for our products;
- suspended operations at the New Madrid smelter, and the resulting impacts to Ameren
Missouri's ability to recover its revenue requirement in its July 2016 electric rate case and
future rate cases to accurately reflect the New Madrid smelter's actual sales volumes;
- 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 actions of credit rating agencies and the effects of such actions;
- the impact of adopting new accounting guidance and the application of appropriate accounting rules and guidance;
- 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, our ability to obtain all of the necessary
approvals to complete the projects, and the uncertainty as to whether we will achieve our expected returns in a timely
manner;
- 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 Ameren Missouri's 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 customer data and account information;
and
- acts of sabotage, war, terrorism, 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
September 30,
|
|
Nine Months Ended
September 30,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Operating Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
|
1,725
|
|
|
$
|
1,700
|
|
|
$
|
4,101
|
|
|
$
|
4,093
|
|
Gas
|
134
|
|
|
133
|
|
|
619
|
|
|
697
|
|
Total operating revenues
|
1,859
|
|
|
1,833
|
|
|
4,720
|
|
|
4,790
|
|
Operating Expenses:
|
|
|
|
|
|
|
|
Fuel
|
205
|
|
|
259
|
|
|
574
|
|
|
670
|
|
Purchased power
|
178
|
|
|
153
|
|
|
451
|
|
|
393
|
|
Gas purchased for resale
|
34
|
|
|
38
|
|
|
227
|
|
|
320
|
|
Other operations and maintenance
|
411
|
|
|
428
|
|
|
1,246
|
|
|
1,256
|
|
Provision for Callaway construction and operating license
|
—
|
|
|
—
|
|
|
—
|
|
|
69
|
|
Depreciation and amortization
|
211
|
|
|
201
|
|
|
628
|
|
|
594
|
|
Taxes other than income taxes
|
129
|
|
|
128
|
|
|
358
|
|
|
369
|
|
Total operating expenses
|
1,168
|
|
|
1,207
|
|
|
3,484
|
|
|
3,671
|
|
Operating Income
|
691
|
|
|
626
|
|
|
1,236
|
|
|
1,119
|
|
Other Income and Expense:
|
|
|
|
|
|
|
|
Miscellaneous income
|
18
|
|
|
19
|
|
|
54
|
|
|
54
|
|
Miscellaneous expense
|
8
|
|
|
5
|
|
|
21
|
|
|
22
|
|
Total other income
|
10
|
|
|
14
|
|
|
33
|
|
|
32
|
|
Interest Charges
|
97
|
|
|
87
|
|
|
287
|
|
|
264
|
|
Income Before Income Taxes
|
604
|
|
|
553
|
|
|
982
|
|
|
887
|
|
Income Taxes
|
233
|
|
|
208
|
|
|
356
|
|
|
333
|
|
Income from Continuing Operations
|
371
|
|
|
345
|
|
|
626
|
|
|
554
|
|
Income from Discontinued Operations, Net of Taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
52
|
|
Net Income
|
371
|
|
|
345
|
|
|
626
|
|
|
606
|
|
Less: Net Income from Continuing Operations Attributable to
Noncontrolling Interests
|
2
|
|
|
2
|
|
|
5
|
|
|
5
|
|
Net Income Attributable to Ameren Common Shareholders:
|
|
|
|
|
|
|
|
Continuing Operations
|
369
|
|
|
343
|
|
|
621
|
|
|
549
|
|
Discontinued Operations
|
—
|
|
|
—
|
|
|
—
|
|
|
52
|
|
Net Income Attributable to Ameren Common Shareholders
|
$
|
369
|
|
|
$
|
343
|
|
|
$
|
621
|
|
|
$
|
601
|
|
Earnings per Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing Operations
|
$
|
1.52
|
|
|
$
|
1.42
|
|
|
$
|
2.56
|
|
|
$
|
2.27
|
|
Discontinued Operations
|
—
|
|
|
—
|
|
|
—
|
|
|
0.21
|
|
Earnings per Common Share – Basic
|
$
|
1.52
|
|
|
$
|
1.42
|
|
|
$
|
2.56
|
|
|
$
|
2.48
|
|
|
|
|
|
|
|
|
|
Earnings per Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing Operations
|
$
|
1.52
|
|
|
$
|
1.41
|
|
|
$
|
2.56
|
|
|
$
|
2.26
|
|
Discontinued Operations
|
—
|
|
|
—
|
|
|
—
|
|
|
0.21
|
|
Earnings per Common Share – Diluted
|
$
|
1.52
|
|
|
$
|
1.41
|
|
|
$
|
2.56
|
|
|
$
|
2.47
|
|
|
|
|
|
|
|
|
|
Average Common Shares Outstanding – Basic
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
Average Common Shares Outstanding – Diluted
|
242.9
|
|
|
243.9
|
|
|
243.0
|
|
|
243.8
|
|
AMEREN CORPORATION (AEE)
|
CONSOLIDATED BALANCE SHEET
|
(Unaudited, in millions)
|
|
|
|
|
|
September 30,
2016
|
|
December 31,
2015
|
ASSETS
|
|
|
|
Current Assets:
|
|
|
|
Cash and cash equivalents
|
$
|
18
|
|
|
$
|
292
|
|
Accounts receivable - trade (less allowance for doubtful
accounts)
|
543
|
|
|
388
|
|
Unbilled revenue
|
240
|
|
|
239
|
|
Miscellaneous accounts receivable
|
49
|
|
|
98
|
|
Materials and supplies
|
551
|
|
|
538
|
|
Current regulatory assets
|
107
|
|
|
260
|
|
Other current assets
|
76
|
|
|
88
|
|
Assets of discontinued operations
|
15
|
|
|
14
|
|
Total current assets
|
1,599
|
|
|
1,917
|
|
Property and Plant, Net
|
19,647
|
|
|
18,799
|
|
Investments and Other Assets:
|
|
|
|
Nuclear decommissioning trust fund
|
599
|
|
|
556
|
|
Goodwill
|
411
|
|
|
411
|
|
Regulatory assets
|
1,312
|
|
|
1,382
|
|
Other assets
|
566
|
|
|
575
|
|
Total investments and other assets
|
2,888
|
|
|
2,924
|
|
TOTAL ASSETS
|
$
|
24,134
|
|
|
$
|
23,640
|
|
LIABILITIES AND EQUITY
|
|
|
|
Current Liabilities:
|
|
|
|
Current maturities of long-term debt
|
$
|
431
|
|
|
$
|
395
|
|
Short-term debt
|
608
|
|
|
301
|
|
Accounts and wages payable
|
513
|
|
|
777
|
|
Taxes accrued
|
159
|
|
|
43
|
|
Interest accrued
|
110
|
|
|
89
|
|
Customer deposits
|
104
|
|
|
100
|
|
Current regulatory liabilities
|
87
|
|
|
80
|
|
Other current liabilities
|
252
|
|
|
279
|
|
Liabilities of discontinued operations
|
27
|
|
|
29
|
|
Total current liabilities
|
2,291
|
|
|
2,093
|
|
Long-term Debt, Net
|
6,607
|
|
|
6,880
|
|
Deferred Credits and Other Liabilities:
|
|
|
|
Accumulated deferred income taxes, net
|
4,255
|
|
|
3,885
|
|
Accumulated deferred investment tax credits
|
56
|
|
|
60
|
|
Regulatory liabilities
|
1,974
|
|
|
1,905
|
|
Asset retirement obligations
|
636
|
|
|
618
|
|
Pension and other postretirement benefits
|
499
|
|
|
580
|
|
Other deferred credits and liabilities
|
481
|
|
|
531
|
|
Total deferred credits and other liabilities
|
7,901
|
|
|
7,579
|
|
Ameren Corporation Shareholders' Equity:
|
|
|
|
Common stock
|
2
|
|
|
2
|
|
Other paid-in capital, principally premium on common stock
|
5,550
|
|
|
5,616
|
|
Retained earnings
|
1,643
|
|
|
1,331
|
|
Accumulated other comprehensive loss
|
(2)
|
|
|
(3)
|
|
Total Ameren Corporation shareholders' equity
|
7,193
|
|
|
6,946
|
|
Noncontrolling Interests
|
142
|
|
|
142
|
|
Total equity
|
7,335
|
|
|
7,088
|
|
TOTAL LIABILITIES AND EQUITY
|
$
|
24,134
|
|
|
$
|
23,640
|
|
AMEREN CORPORATION (AEE)
|
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Unaudited, in millions)
|
|
|
|
Nine Months Ended September 30,
|
|
2016
|
|
2015
|
Cash Flows From Operating Activities:
|
|
|
|
Net income
|
$
|
626
|
|
|
$
|
606
|
|
Income from discontinued operations, net of taxes
|
—
|
|
|
(52)
|
|
Adjustments to reconcile net income to net cash provided by operating
activities:
|
|
|
|
Provision for Callaway construction and operating license
|
—
|
|
|
69
|
|
Depreciation and amortization
|
625
|
|
|
582
|
|
Amortization of nuclear fuel
|
63
|
|
|
71
|
|
Amortization of debt issuance costs and premium/discounts
|
17
|
|
|
16
|
|
Deferred income taxes and investment tax credits, net
|
364
|
|
|
318
|
|
Allowance for equity funds used during construction
|
(20)
|
|
|
(19)
|
|
Share-based compensation costs
|
17
|
|
|
20
|
|
Other
|
(9)
|
|
|
(8)
|
|
Changes in assets and liabilities
|
(124)
|
|
|
(56)
|
|
Net cash provided by operating activities – continuing
operations
|
1,559
|
|
|
1,547
|
|
Net cash used in operating activities – discontinued operations
|
—
|
|
|
(5)
|
|
Net cash provided by operating activities
|
1,559
|
|
|
1,542
|
|
Cash Flows From Investing Activities:
|
|
|
|
Capital expenditures
|
(1,496)
|
|
|
(1,332)
|
|
Nuclear fuel expenditures
|
(41)
|
|
|
(30)
|
|
Purchases of securities – nuclear decommissioning trust fund
|
(310)
|
|
|
(301)
|
|
Sales and maturities of securities – nuclear decommissioning trust
fund
|
297
|
|
|
290
|
|
Proceeds from note receivable – Illinois Power Marketing Company
|
—
|
|
|
12
|
|
Contributions to note receivable – Illinois Power Marketing
Company
|
—
|
|
|
(8)
|
|
Other
|
(1)
|
|
|
7
|
|
Net cash used in investing activities – continuing operations
|
(1,551)
|
|
|
(1,362)
|
|
Net cash used in investing activities – discontinued operations
|
—
|
|
|
—
|
|
Net cash used in investing activities
|
(1,551)
|
|
|
(1,362)
|
|
Cash Flows From Financing Activities:
|
|
|
|
Dividends on common stock
|
(309)
|
|
|
(298)
|
|
Dividends paid to noncontrolling interest holders
|
(5)
|
|
|
(5)
|
|
Short-term debt, net
|
307
|
|
|
69
|
|
Maturities of long-term debt
|
(389)
|
|
|
(114)
|
|
Issuances of long-term debt
|
149
|
|
|
249
|
|
Employee withholding taxes related to share-based payments
|
(32)
|
|
|
(12)
|
|
Capital issuance costs
|
(1)
|
|
|
(2)
|
|
Other
|
(2)
|
|
|
—
|
|
Net cash used in financing activities – continuing operations
|
(282)
|
|
|
(113)
|
|
Net change in cash and cash equivalents
|
(274)
|
|
|
67
|
|
Cash and cash equivalents at beginning of year
|
292
|
|
|
5
|
|
Cash and cash equivalents at end of period
|
$
|
18
|
|
|
$
|
72
|
|
AMEREN CORPORATION (AEE)
|
OPERATING STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Electric Sales - kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren Missouri
|
|
|
|
|
|
|
|
Residential
|
3,867
|
|
|
3,587
|
|
|
10,243
|
|
|
10,186
|
|
Commercial
|
4,190
|
|
|
4,109
|
|
|
11,269
|
|
|
11,254
|
|
Industrial
|
1,239
|
|
|
2,152
|
|
|
3,683
|
|
|
6,252
|
|
Off-system and other
|
1,823
|
|
|
1,702
|
|
|
5,149
|
|
|
5,600
|
|
Ameren Missouri total
|
11,119
|
|
|
11,550
|
|
|
30,344
|
|
|
33,292
|
|
Ameren Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and delivery service
|
1,351
|
|
|
1,320
|
|
|
3,547
|
|
|
3,763
|
|
Delivery service only
|
2,106
|
|
|
1,970
|
|
|
5,354
|
|
|
5,270
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and delivery service
|
794
|
|
|
778
|
|
|
2,168
|
|
|
2,174
|
|
Delivery service only
|
2,830
|
|
|
2,632
|
|
|
7,292
|
|
|
7,153
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and delivery service
|
199
|
|
|
427
|
|
|
494
|
|
|
1,330
|
|
Delivery service only
|
2,989
|
|
|
2,630
|
|
|
8,401
|
|
|
7,750
|
|
Other
|
127
|
|
|
127
|
|
|
390
|
|
|
394
|
|
Ameren Illinois total
|
10,396
|
|
|
9,884
|
|
|
27,646
|
|
|
27,834
|
|
Eliminate affiliate sales
|
(117)
|
|
|
(110)
|
|
|
(394)
|
|
|
(206)
|
|
Ameren Total from Continuing Operations
|
21,398
|
|
|
21,324
|
|
|
57,596
|
|
|
60,920
|
|
Electric Revenues (in millions):
|
|
|
|
|
|
|
|
Ameren Missouri
|
|
|
|
|
|
|
|
Residential
|
$
|
499
|
|
|
$
|
494
|
|
|
$
|
1,153
|
|
|
$
|
1,179
|
|
Commercial
|
416
|
|
|
428
|
|
|
982
|
|
|
1,004
|
|
Industrial
|
101
|
|
|
151
|
|
|
251
|
|
|
370
|
|
Off-system and other
|
128
|
|
|
78
|
|
|
296
|
|
|
199
|
|
Ameren Missouri total
|
$
|
1,144
|
|
|
$
|
1,151
|
|
|
$
|
2,682
|
|
|
$
|
2,752
|
|
Ameren Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and delivery service
|
$
|
151
|
|
|
$
|
164
|
|
|
$
|
376
|
|
|
$
|
382
|
|
Delivery service only
|
145
|
|
|
125
|
|
|
333
|
|
|
288
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and delivery service
|
76
|
|
|
81
|
|
|
193
|
|
|
188
|
|
Delivery service only
|
94
|
|
|
75
|
|
|
210
|
|
|
177
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and delivery service
|
10
|
|
|
20
|
|
|
23
|
|
|
59
|
|
Delivery service only
|
16
|
|
|
12
|
|
|
47
|
|
|
40
|
|
Other
|
70
|
|
|
63
|
|
|
183
|
|
|
182
|
|
Ameren Illinois total
|
$
|
562
|
|
|
$
|
540
|
|
|
$
|
1,365
|
|
|
$
|
1,316
|
|
ATXI
|
|
|
|
|
|
|
|
Transmission services
|
$
|
35
|
|
|
$
|
19
|
|
|
$
|
96
|
|
|
$
|
56
|
|
Eliminate affiliate revenues
|
(16)
|
|
|
(10)
|
|
|
(42)
|
|
|
(31)
|
|
Ameren Total from Continuing Operations
|
$
|
1,725
|
|
|
$
|
1,700
|
|
|
$
|
4,101
|
|
|
$
|
4,093
|
|
AMEREN CORPORATION (AEE)
|
OPERATING STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
September 30,
|
|
September 30,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Gas Sales - dekatherms (in millions):
|
|
|
|
|
|
|
|
Ameren Missouri
|
3
|
|
|
2
|
|
|
13
|
|
|
13
|
|
Ameren Illinois
|
26
|
|
|
25
|
|
|
118
|
|
|
124
|
|
Ameren Total
|
29
|
|
|
27
|
|
|
131
|
|
|
137
|
|
Gas Revenues (in millions):
|
|
|
|
|
|
|
Ameren Missouri
|
$
|
20
|
|
|
$
|
19
|
|
|
$
|
90
|
|
|
$
|
101
|
|
Ameren Illinois
|
114
|
|
|
115
|
|
|
530
|
|
|
597
|
|
Eliminate affiliate revenues
|
—
|
|
|
(1)
|
|
|
(1)
|
|
|
(1)
|
|
Ameren Total
|
$
|
134
|
|
|
$
|
133
|
|
|
$
|
619
|
|
|
$
|
697
|
|
Net Income Attributable to Ameren Common Shareholders by Segment from
Continuing Operations (in millions):
|
|
|
|
|
|
|
|
Ameren Missouri
|
$
|
241
|
|
|
$
|
239
|
|
|
$
|
347
|
|
|
$
|
341
|
|
Ameren Illinois
|
119
|
|
|
98
|
|
|
223
|
|
|
182
|
|
Other:
|
|
|
|
|
|
|
|
ATXI
|
17
|
|
|
9
|
|
|
46
|
|
|
26
|
|
Parent and other
|
(8)
|
|
|
(3)
|
|
|
5
|
|
|
—
|
|
Other total
|
9
|
|
|
6
|
|
|
51
|
|
|
26
|
|
Ameren Total
|
$
|
369
|
|
|
$
|
343
|
|
|
$
|
621
|
|
|
$
|
549
|
|
|
|
|
September 30,
2016
|
|
|
|
December 31,
2015
|
Common Stock:
|
|
|
|
|
|
|
|
Shares outstanding (in millions)
|
|
|
242.6
|
|
|
|
|
242.6
|
|
Book value per share
|
|
|
$
|
29.65
|
|
|
|
|
$
|
28.63
|
|
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-third-quarter-2016-results-and-raises-2016-earnings-guidance-range-300357578.html
SOURCE Ameren Corporation