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