ST. LOUIS, Nov. 6, 2015 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced net income attributable to common
stockholders of $343 million, or
$1.41 per diluted share, for the
third quarter of 2015, compared with $293 million, or $1.20 per diluted share, for the third quarter of
2014.
The year-over-year increase in third quarter 2015 earnings
reflected higher retail electric sales volumes driven by warmer
summer temperatures that were near normal. The comparison also was
favorably affected by earnings on increased investments in electric
transmission and delivery infrastructure made under formula
ratemaking. In addition, earnings benefited from a seasonal rate
redesign and the timing of revenues under formula ratemaking for
Ameren Illinois' electric delivery service as well as a lower
effective income tax rate.
"We are on track to deliver strong earnings growth in 2015,"
said Warner L. Baxter, chairman,
president and chief executive officer of Ameren Corporation. "This
growth is driven by the execution of our strategy, which includes
allocating capital to jurisdictions with modern, constructive
regulatory frameworks and managing our costs in a disciplined
manner for the benefit of all our stakeholders."
Ameren recorded net income attributable to common stockholders
in accordance with generally accepted accounting principles (GAAP)
of $601 million, or $2.47 per diluted share, for the nine months
ended Sept. 30, 2015, compared to
$538 million, or $2.20 per diluted share, for the comparable 2014
period. Excluding certain items discussed below, Ameren recorded
core earnings of $592 million, or
$2.44 per diluted share, for the
first nine months of 2015, compared to core earnings of
$541 million, or $2.21 per diluted share, for the comparable 2014
period.
This year-over-year increase in nine-months 2015 core results
was favorably affected by earnings on increased investments in
electric transmission and delivery infrastructure made under
formula ratemaking, a lower effective income tax rate, lower other
operations and maintenance expenses, and reduced parent company
interest costs. These positive factors were partially offset by
higher depreciation and amortization expenses and lower capitalized
Ameren Missouri financing costs.
The following items were excluded from core earnings for the
first nine months of 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 GAAP net income by
$52 million in 2015.
- 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 net income from
continuing operations by $43 million
in 2015.
A reconciliation of GAAP to core earnings per diluted share is
as follows:
|
Three
Months
|
|
Nine
Months
|
|
|
2015
|
2014
|
|
2015
|
2014
|
|
GAAP
EPS
|
$1.41
|
$1.20
|
|
$2.47
|
$2.20
|
|
Results from
discontinued operations
|
—
|
—
|
|
(0.21)
|
0.01
|
|
Provision for Callaway
COL
|
—
|
—
|
|
0.18
|
—
|
|
Core
EPS
|
$1.41
|
$1.20
|
|
$2.44
|
$2.21
|
|
Earnings Guidance
Ameren has narrowed its guidance for 2015 core diluted earnings
per share to a range of $2.55 to
$2.65, compared with the prior range of $2.45 to $2.65, based on year-to-date results.
This core earnings guidance excludes results from discontinued
operations and the provision for a Callaway COL. GAAP 2015 diluted
earnings per share are now expected to be in a range of
$2.58 to $2.68, compared to the prior
range of $2.48 to $2.68.
Earnings guidance for 2015 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
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 2015 earnings were
$239 million, compared with third
quarter 2014 earnings of $222
million. This comparison benefited from higher retail
electric sales volumes driven by warmer summer temperatures in 2015
that were near normal.
Ameren Illinois Segment Results
Ameren Illinois segment third quarter 2015 earnings were
$98 million, compared with third
quarter 2014 earnings of $75 million.
This comparison benefited from earnings on increased investments in
electric transmission and delivery infrastructure made under
formula ratemaking. In addition, electric delivery service earnings
benefited from a seasonal rate redesign and the timing of revenues
under formula ratemaking. The earnings comparison also was
favorably affected by higher retail electric sales volumes
partially driven by warmer summer temperatures in 2015 that were
near normal. These positive factors were partially offset by lower
recognized allowed returns on equity for the electric transmission
and delivery businesses.
Other Results, including Parent and ATXI
Other earnings, including those of the parent company and Ameren
Transmission Company of Illinois
(ATXI), for the third quarter of 2015 were $6 million, compared with a loss of $3 million for the third quarter of 2014. These
improvements reflected an increase in earnings at ATXI to
$9 million from $5 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.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Friday, Nov. 6, to discuss third 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 "Q3
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 Nov. 6
through Nov. 13 by dialing U.S. and Canada 877.660.6853 or international
201.612.7415, and entering ID number 13622386.
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 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 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, that may
result from Ameren Illinois' April
2015 annual electric delivery service formula update filing
under the Illinois Energy Infrastructure Modernization Act (IEIMA);
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; the complaint case
filed with the Missouri Public Service Commission regarding the
performance incentive for the 2013 through 2015 Missouri Energy
Efficiency Investment Act (MEEIA) plan; 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 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 and are becoming more cost
competitive;
- 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 MEEIA
plan and any future 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 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
significant reductions in the sales volumes used by its aluminum
smelter in southeast Missouri
below the sales volumes assumed in determining Ameren Missouri's
electric rates;
- 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 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 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
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
|
1,700
|
|
|
$
|
1,523
|
|
|
$
|
4,093
|
|
|
$
|
3,864
|
|
Gas
|
133
|
|
|
147
|
|
|
697
|
|
|
819
|
|
Total operating
revenues
|
1,833
|
|
|
1,670
|
|
|
4,790
|
|
|
4,683
|
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
259
|
|
|
236
|
|
|
670
|
|
|
638
|
|
Purchased
power
|
153
|
|
|
114
|
|
|
393
|
|
|
340
|
|
Gas purchased for
resale
|
38
|
|
|
49
|
|
|
320
|
|
|
432
|
|
Other operations and
maintenance
|
428
|
|
|
402
|
|
|
1,256
|
|
|
1,231
|
|
Provision for
Callaway construction and operating license
|
—
|
|
|
—
|
|
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
201
|
|
|
187
|
|
|
594
|
|
|
551
|
|
Taxes other than
income taxes
|
128
|
|
|
121
|
|
|
369
|
|
|
362
|
|
Total operating
expenses
|
1,207
|
|
|
1,109
|
|
|
3,671
|
|
|
3,554
|
|
Operating
Income
|
626
|
|
|
561
|
|
|
1,119
|
|
|
1,129
|
|
Other Income and
Expense:
|
|
|
|
|
|
|
|
Miscellaneous
income
|
19
|
|
|
21
|
|
|
54
|
|
|
60
|
|
Miscellaneous
expense
|
5
|
|
|
7
|
|
|
22
|
|
|
20
|
|
Total other
income
|
14
|
|
|
14
|
|
|
32
|
|
|
40
|
|
Interest
Charges
|
87
|
|
|
85
|
|
|
264
|
|
|
266
|
|
Income Before
Income Taxes
|
553
|
|
|
490
|
|
|
887
|
|
|
903
|
|
Income
Taxes
|
208
|
|
|
194
|
|
|
333
|
|
|
357
|
|
Income from
Continuing Operations
|
345
|
|
|
296
|
|
|
554
|
|
|
546
|
|
Income (Loss) from
Discontinued Operations, Net of Taxes
|
—
|
|
|
(1)
|
|
|
52
|
|
|
(3)
|
|
Net
Income
|
345
|
|
|
295
|
|
|
606
|
|
|
543
|
|
Less: Net Income
from Continuing Operations Attributable to Noncontrolling
Interests
|
2
|
|
|
2
|
|
|
5
|
|
|
5
|
|
Net Income (Loss)
Attributable to Ameren Common Stockholders:
|
|
|
|
|
|
|
|
Continuing
Operations
|
343
|
|
|
294
|
|
|
549
|
|
|
541
|
|
Discontinued
Operations
|
—
|
|
|
(1)
|
|
|
52
|
|
|
(3)
|
|
Net Income
Attributable to Ameren Common Stockholders
|
$
|
343
|
|
|
$
|
293
|
|
|
$
|
601
|
|
|
$
|
538
|
|
Earnings (Loss)
per Common Share – Basic:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
|
1.42
|
|
|
$
|
1.21
|
|
|
$
|
2.27
|
|
|
$
|
2.23
|
|
Discontinued
Operations
|
—
|
|
|
—
|
|
|
0.21
|
|
|
(0.01)
|
|
Earnings per
Common Share – Basic
|
$
|
1.42
|
|
|
$
|
1.21
|
|
|
$
|
2.48
|
|
|
$
|
2.22
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
per Common Share – Diluted:
|
|
|
|
|
|
|
|
Continuing
Operations
|
$
|
1.41
|
|
|
$
|
1.20
|
|
|
$
|
2.26
|
|
|
$
|
2.21
|
|
Discontinued
Operations
|
—
|
|
|
—
|
|
|
0.21
|
|
|
(0.01)
|
|
Earnings per
Common Share – Diluted
|
$
|
1.41
|
|
|
$
|
1.20
|
|
|
$
|
2.47
|
|
|
$
|
2.20
|
|
|
|
|
|
|
|
|
|
Average Common
Shares Outstanding – Basic
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
|
242.6
|
|
Average Common
Shares Outstanding – Diluted
|
243.9
|
|
|
244.3
|
|
|
243.8
|
|
|
244.3
|
|
AMEREN CORPORATION
(AEE)
CONSOLIDATED
BALANCE SHEET
(Unaudited, in
millions)
|
|
|
|
|
|
September 30,
2015
|
|
December 31,
2014
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
72
|
|
|
$
|
5
|
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
508
|
|
|
423
|
|
Unbilled
revenue
|
234
|
|
|
265
|
|
Miscellaneous
accounts and notes receivable
|
113
|
|
|
81
|
|
Materials and
supplies
|
548
|
|
|
524
|
|
Current regulatory
assets
|
163
|
|
|
295
|
|
Current accumulated
deferred income taxes, net
|
225
|
|
|
352
|
|
Other current
assets
|
103
|
|
|
86
|
|
Assets of
discontinued operations
|
17
|
|
|
15
|
|
Total current
assets
|
1,983
|
|
|
2,046
|
|
Property and
Plant, Net
|
18,307
|
|
|
17,424
|
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
534
|
|
|
549
|
|
Goodwill
|
411
|
|
|
411
|
|
Regulatory
assets
|
1,578
|
|
|
1,582
|
|
Other
assets
|
646
|
|
|
664
|
|
Total investments and
other assets
|
3,169
|
|
|
3,206
|
|
TOTAL
ASSETS
|
$
|
23,459
|
|
|
$
|
22,676
|
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
|
395
|
|
|
$
|
120
|
|
Short-term
debt
|
783
|
|
|
714
|
|
Accounts and wages
payable
|
525
|
|
|
711
|
|
Taxes
accrued
|
160
|
|
|
46
|
|
Interest
accrued
|
103
|
|
|
85
|
|
Current regulatory
liabilities
|
89
|
|
|
106
|
|
Other current
liabilities
|
404
|
|
|
434
|
|
Liabilities of
discontinued operations
|
30
|
|
|
33
|
|
Total current
liabilities
|
2,489
|
|
|
2,249
|
|
Long-term Debt,
Net
|
5,981
|
|
|
6,120
|
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes, net
|
4,084
|
|
|
3,923
|
|
Accumulated deferred
investment tax credits
|
62
|
|
|
64
|
|
Regulatory
liabilities
|
1,894
|
|
|
1,850
|
|
Asset retirement
obligations
|
597
|
|
|
396
|
|
Pension and other
postretirement benefits
|
666
|
|
|
705
|
|
Other deferred
credits and liabilities
|
530
|
|
|
514
|
|
Total deferred
credits and other liabilities
|
7,833
|
|
|
7,452
|
|
Ameren Corporation
Stockholders' Equity:
|
|
|
|
Common
stock
|
2
|
|
|
2
|
|
Other paid-in
capital, principally premium on common stock
|
5,612
|
|
|
5,617
|
|
Retained
earnings
|
1,405
|
|
|
1,103
|
|
Accumulated other
comprehensive loss
|
(5)
|
|
|
(9)
|
|
Total Ameren
Corporation stockholders' equity
|
7,014
|
|
|
6,713
|
|
Noncontrolling
Interests
|
142
|
|
|
142
|
|
Total
equity
|
7,156
|
|
|
6,855
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
|
23,459
|
|
|
$
|
22,676
|
|
AMEREN CORPORATION
(AEE)
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in
millions)
|
|
|
|
Nine Months Ended
September 30,
|
|
2015
|
|
2014
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$
|
606
|
|
|
$
|
543
|
|
(Income) loss from
discontinued operations, net of taxes
|
(52)
|
|
|
3
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Provision for
Callaway construction and operating license
|
69
|
|
|
—
|
|
Depreciation and
amortization
|
582
|
|
|
526
|
|
Amortization of
nuclear fuel
|
71
|
|
|
70
|
|
Amortization of debt
issuance costs and premium/discounts
|
16
|
|
|
16
|
|
Deferred income taxes
and investment tax credits, net
|
318
|
|
|
370
|
|
Allowance for equity
funds used during construction
|
(19)
|
|
|
(26)
|
|
Stock-based
compensation costs
|
20
|
|
|
20
|
|
Other
|
(8)
|
|
|
(9)
|
|
Changes in assets and
liabilities:
|
(70)
|
|
|
(305)
|
|
Net cash provided by
operating activities – continuing operations
|
1,533
|
|
|
1,208
|
|
Net cash used in
operating activities – discontinued operations
|
(5)
|
|
|
(5)
|
|
Net cash provided
by operating activities
|
1,528
|
|
|
1,203
|
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(1,332)
|
|
|
(1,310)
|
|
Nuclear fuel
expenditures
|
(30)
|
|
|
(28)
|
|
Purchases of
securities – nuclear decommissioning trust fund
|
(301)
|
|
|
(365)
|
|
Sales and maturities
of securities – nuclear decommissioning trust fund
|
290
|
|
|
354
|
|
Proceeds from note
receivable - Illinois Power Marketing Company
|
12
|
|
|
79
|
|
Contributions to note
receivable - Illinois Power Marketing Company
|
(8)
|
|
|
(84)
|
|
Other
|
7
|
|
|
3
|
|
Net cash used in
investing activities – continuing operations
|
(1,362)
|
|
|
(1,351)
|
|
Net cash provided by
investing activities – discontinued operations
|
—
|
|
|
139
|
|
Net cash used in
investing activities
|
(1,362)
|
|
|
(1,212)
|
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(298)
|
|
|
(291)
|
|
Dividends paid to
noncontrolling interest holders
|
(5)
|
|
|
(5)
|
|
Short-term debt,
net
|
69
|
|
|
385
|
|
Redemptions and
maturities of long-term debt
|
(114)
|
|
|
(692)
|
|
Issuances of
long-term debt
|
249
|
|
|
598
|
|
Capital issuance
costs
|
(2)
|
|
|
(4)
|
|
Other
|
2
|
|
|
1
|
|
Net cash used in
financing activities – continuing operations
|
(99)
|
|
|
(8)
|
|
Net cash used in
financing activities – discontinued operations
|
—
|
|
|
—
|
|
Net cash used in
financing activities
|
(99)
|
|
|
(8)
|
|
Net change in cash
and cash equivalents
|
67
|
|
|
(17)
|
|
Cash and cash
equivalents at beginning of year
|
5
|
|
|
30
|
|
Cash and cash
equivalents at end of period
|
$
|
72
|
|
|
$
|
13
|
|
AMEREN CORPORATION
(AEE)
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
September
30,
|
|
September
30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
3,587
|
|
|
3,400
|
|
|
10,186
|
|
|
10,479
|
|
Commercial
|
4,109
|
|
|
3,984
|
|
|
11,254
|
|
|
11,206
|
|
Industrial
|
2,152
|
|
|
2,233
|
|
|
6,252
|
|
|
6,511
|
|
Off-system
|
1,673
|
|
|
1,895
|
|
|
5,510
|
|
|
4,786
|
|
Other
|
29
|
|
|
29
|
|
|
90
|
|
|
89
|
|
Ameren Missouri
total
|
11,550
|
|
|
11,541
|
|
|
33,292
|
|
|
33,071
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
1,320
|
|
|
1,199
|
|
|
3,763
|
|
|
3,440
|
|
Delivery service
only
|
1,970
|
|
|
1,798
|
|
|
5,270
|
|
|
5,631
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
778
|
|
|
649
|
|
|
2,174
|
|
|
1,933
|
|
Delivery service
only
|
2,632
|
|
|
2,589
|
|
|
7,153
|
|
|
7,230
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
427
|
|
|
403
|
|
|
1,330
|
|
|
1,288
|
|
Delivery service
only
|
2,630
|
|
|
2,732
|
|
|
7,750
|
|
|
7,920
|
|
Other
|
127
|
|
|
119
|
|
|
394
|
|
|
386
|
|
Ameren Illinois
total
|
9,884
|
|
|
9,489
|
|
|
27,834
|
|
|
27,828
|
|
Eliminate affiliate
sales
|
(110)
|
|
|
(17)
|
|
|
(206)
|
|
|
(67)
|
|
Ameren Total from
Continuing Operations
|
21,324
|
|
|
21,013
|
|
|
60,920
|
|
|
60,832
|
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
$
|
494
|
|
|
$
|
436
|
|
|
$
|
1,179
|
|
|
$
|
1,130
|
|
Commercial
|
428
|
|
|
393
|
|
|
1,004
|
|
|
956
|
|
Industrial
|
151
|
|
|
152
|
|
|
370
|
|
|
373
|
|
Off-system
|
53
|
|
|
54
|
|
|
142
|
|
|
137
|
|
Other
|
25
|
|
|
41
|
|
|
57
|
|
|
100
|
|
Ameren Missouri
total
|
$
|
1,151
|
|
|
$
|
1,076
|
|
|
$
|
2,752
|
|
|
$
|
2,696
|
|
Ameren
Illinois
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
$
|
164
|
|
|
$
|
130
|
|
|
$
|
382
|
|
|
$
|
353
|
|
Delivery service
only
|
125
|
|
|
91
|
|
|
288
|
|
|
245
|
|
Commercial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
81
|
|
|
65
|
|
|
188
|
|
|
180
|
|
Delivery service
only
|
75
|
|
|
55
|
|
|
177
|
|
|
143
|
|
Industrial
|
|
|
|
|
|
|
|
Power supply and
delivery service
|
20
|
|
|
18
|
|
|
59
|
|
|
68
|
|
Delivery service
only
|
12
|
|
|
11
|
|
|
40
|
|
|
31
|
|
Other
|
63
|
|
|
75
|
|
|
182
|
|
|
142
|
|
Ameren Illinois
total
|
$
|
540
|
|
|
$
|
445
|
|
|
$
|
1,316
|
|
|
$
|
1,162
|
|
ATXI
|
|
|
|
|
|
|
|
Transmission
services
|
$
|
19
|
|
|
$
|
10
|
|
|
$
|
56
|
|
|
$
|
29
|
|
Eliminate affiliate
revenues
|
(10)
|
|
|
(8)
|
|
|
(31)
|
|
|
(23)
|
|
Ameren Total from
Continuing Operations
|
$
|
1,700
|
|
|
$
|
1,523
|
|
|
$
|
4,093
|
|
|
$
|
3,864
|
|
AMEREN CORPORATION
(AEE)
OPERATING
STATISTICS FROM CONTINUING OPERATIONS
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
September
30,
|
|
September
30,
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Electric
Generation - kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
11,424
|
|
|
11,688
|
|
|
32,776
|
|
|
33,720
|
|
Fuel Cost per
kilowatthour (in cents):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
1.970
|
|
|
1.951
|
|
|
1.884
|
|
|
1.919
|
|
Gas Sales -
dekatherms (in thousands):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
2,445
|
|
|
2,257
|
|
|
13,265
|
|
|
13,550
|
|
Ameren
Illinois
|
24,560
|
|
|
23,823
|
|
|
123,618
|
|
|
130,134
|
|
Ameren
Total
|
27,005
|
|
|
26,080
|
|
|
136,883
|
|
|
143,684
|
|
|
|
|
September 30,
2015
|
|
|
|
December 31,
2014
|
Common
Stock:
|
|
|
|
|
|
|
|
Shares outstanding
(in millions)
|
|
|
242.6
|
|
|
|
|
242.6
|
|
Book value per
share
|
|
|
$
|
28.91
|
|
|
|
|
$
|
27.67
|
|
Capitalization
Ratios:
|
|
|
|
|
|
|
|
Common
equity
|
|
|
49.2
|
%
|
|
|
|
48.7
|
%
|
Preferred
stock
|
|
|
1.0
|
%
|
|
|
|
1.0
|
%
|
Debt, net of
cash
|
|
|
49.8
|
%
|
|
|
|
50.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-third-quarter-2015-results-and-narrows-2015-earnings-guidance-range-300173986.html
SOURCE Ameren Corporation