ST. LOUIS, Feb. 17, 2022 /PRNewswire/ -- Ameren Corporation
(NYSE: AEE) today announced 2021 net income attributable to common
shareholders of $990 million, or
$3.84 per diluted share, compared to
2020 net income attributable to common shareholders of $871 million, or $3.50 per diluted share.
Earnings results for 2021 were driven by strong operating
performance and execution of the company's strategy. Higher
earnings were the result of increased infrastructure investments
across all business segments. Ameren Missouri earnings were
positively impacted by higher electric retail sales as the economy
continued to recover from the impacts of COVID-19 and new electric
service rates effective April 1,
2020. Ameren Illinois Natural Gas earnings increased due to
higher delivery service rates effective in late January 2021. Ameren Illinois Electric
Distribution earnings benefited from a higher allowed return on
equity due to a higher 30-year U.S. Treasury bond yield in 2021
compared to 2020. These favorable factors were partially offset by
the amortization of deferred expenses related to the fall 2020
Callaway refueling and maintenance outage at Ameren Missouri, as
well as increased operations and maintenance expenses at Ameren
Illinois Natural Gas. In addition, Ameren Transmission earnings
were negatively impacted by the absence of the benefit from the
May 2020 Federal Energy Regulatory
Commission (FERC) order addressing the Midcontinent Independent
System Operator (MISO) allowed base return on equity and the impact
of a March 2021 FERC order addressing
the historical recovery of materials and supplies inventories. The
earnings comparison also reflected increased interest expense,
primarily due to higher long-term debt outstanding at Ameren
Parent. Finally, 2021 earnings per share reflected higher
weighted-average basic common shares outstanding.
"In 2021, we effectively executed on our strategic plan, which
included making significant investments in energy infrastructure to
enhance reliability of the energy grid and transition to a cleaner
energy future," said Martin J. Lyons,
Jr., president and chief executive officer of Ameren
Corporation. "Our robust energy infrastructure investment plan
focused on delivery of safe, reliable, affordable and cleaner
electric and gas services will provide significant long-term value
for our customers, communities we serve, shareholders and the
environment."
"I am also pleased to report that we continued to focus on
sustainability initiatives tied to environmental, social and
governance objectives throughout 2021," Lyons said. "The completed
acquisition of our 300-megawatt Atchison Renewable Energy Center
moved us forward toward our Ameren-wide goal of net-zero carbon
emissions by 2050. Our customer satisfaction scores rose and are
among the highest of our electric peers in the Midwest. Further, in
2021, Ameren increased spending with diverse suppliers, was
recognized by DiversityInc as the nation's top utility for
diversity, equity and inclusion and enhanced executive compensation
ties to sustainability."
Ameren recorded net income attributable to common shareholders
for the three months ended Dec. 31,
2021, of $125 million, or
48 cents per diluted share, compared
to net income attributable to common shareholders of $115 million, or 46 cents per diluted share,
for the same period in 2020.
The year-over-year increase in fourth quarter 2021 earnings was
due to increased infrastructure investments across all of our
business segments. Ameren Illinois Natural Gas earnings also
benefited from higher delivery service rates effective in late
January 2021. Year-over-year
improvement also reflected charitable donations returning to a more
normal level in 2021. These factors were partially offset by higher
operations and maintenance expense at Ameren Missouri and Ameren
Illinois natural gas, in addition to lower retail sales at Ameren
Missouri driven by milder-than-normal winter temperatures compared
to near-normal winter temperatures in the year-ago quarter.
Earnings and Rate Base Guidance
Ameren expects 2022 diluted earnings per share to be in a range
of $3.95 to $4.15. Ameren expects diluted earnings per share
to grow at a 6% to 8% compound annual rate from 2022 through 2026,
using the 2022 guidance range midpoint of $4.05 per share as the base. Ameren's multi-year
earnings growth is expected to be driven by strong projected rate
base growth of approximately 7% compounded annually from 2021
through 2026.
"We are focused on strong long-term execution of our strategy,
which includes investments to modernize the energy grid and
transition to a cleaner energy portfolio in a responsible fashion.
This, along with our relentless focus on disciplined cost
management, will continue to deliver superior value to our
customers, the communities we serve, our shareholders and the
environment," Lyons said.
Ameren's earnings guidance for 2022 and multi-year growth
expectations assume normal temperatures and are subject to the
effects of, among other things: the impacts of COVID-19; 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 2021 earnings were $518
million, compared to 2020 earnings of $436 million. The year-over-year improvement
reflected increased earnings on infrastructure investments,
including wind generation, and higher electric retail sales as the
economy continues to recover from the impacts of COVID-19. Earnings
also increased due to new electric service rates effective
April 1, 2020. These favorable
factors were partially offset by higher other operations and
maintenance expenses, primarily due to the amortization of deferred
expenses related to the fall 2020 Callaway refueling and
maintenance outage.
Ameren Illinois Electric Distribution Segment Results
Ameren Illinois Electric Distribution 2021 earnings were
$165 million, compared to 2020
earnings of $143 million. The
year-over-year improvement reflected increased earnings on
infrastructure investments and a higher allowed return on equity
due to a higher average 30-year U.S. Treasury bond yield in 2021
compared to 2020.
Ameren Illinois Natural Gas Segment Results
Ameren Illinois Natural Gas 2021 earnings were $108 million, compared to 2020 earnings of
$99 million. The year-over-year
improvement reflected higher delivery services rates effective late
January 2021, which incorporated
increased infrastructure investments, partially offset by higher
other operations and maintenance expenses.
Ameren Transmission Segment Results
Ameren Transmission 2021 earnings were $230 million, compared to 2020 earnings of
$216 million. The year-over-year
improvement reflected increased earnings on infrastructure
investments, partially offset by the absence of the benefit from
the May 2020 FERC order addressing
the MISO allowed base return on equity and a March 2021 FERC order addressing the historical
recovery of materials and supplies inventories.
Ameren Parent Results (includes items not reported in a business
segment)
Ameren Parent results for 2021 reflected a loss of $31 million, compared to a 2020 loss of
$23 million. The year-over-year
comparison reflected increased interest expense, primarily due to
higher long-term debt outstanding.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Friday, Feb.
18, to discuss 2021 earnings, earnings guidance and other matters.
Investors, the news media and the public may listen to a live
broadcast of the call at AmerenInvestors.com by clicking on
"Webcast" under "Q4 2021 Earnings Conference Call," where an
accompanying slide presentation will also be available. The
conference call and presentation will be archived for one year in
the "Investor News and Events" section of the website under "Events
and Presentations."
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 transmission and distribution service and natural
gas distribution service. Ameren Missouri provides electric
generation, transmission and distribution service, as well as
natural gas distribution service. Ameren Transmission Company of
Illinois develops, owns and
operates rate-regulated regional electric transmission projects.
For more information, visit Ameren.com, or follow us at
@AmerenCorp, Facebook.com/AmerenCorp, or
LinkedIn/company/Ameren.
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, projections, strategies,
targets, estimates, 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, 2020, Quarterly Report
on Form 10-Q for the quarter ended September
30, 2021, 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, and any changes
in regulatory policies and ratemaking determinations, that may
change regulatory recovery mechanisms, such as those that may
result from the impact of a final ruling to be issued by
the United States Court for the
Eastern District of Missouri
regarding its September 2019 remedy
order for the Rush Island Energy Center, the July 2020 appeal filed by Ameren Missouri, Ameren
Illinois, and Ameren Transmission Company of Illinois (ATXI) challenging the refund period
related to the FERC's May 2020 order
determining the allowed base return on common equity (ROE) under
the Midcontinent Independent System Operator (MISO) tariff, and the
July 2020 appeal filed by Ameren
Missouri, Ameren Illinois, and ATXI challenging the FERC's
rehearing denials in the transmission formula rate revision
cases;
- the length and severity of the COVID-19 pandemic, and its
impacts on our business continuity plans and our results of
operations, financial position, and liquidity, including but not
limited to: changes in customer demand resulting in changes to
sales volumes; customers' payment for our services and their use of
deferred payment arrangements; the health, welfare, and
availability of our workforce and contractors; supplier
disruptions; delays in the completion of construction projects,
which could impact our expected capital expenditures and rate base
growth; changes in how we operate our business and increased data
security risks as a result of remote working arrangements for a
significant portion of our workforce; and our ability to access the
capital markets on reasonable terms and when needed;
- the effect of Ameren Illinois' use of the performance-based
formula ratemaking framework for its electric distribution service
under the Illinois Energy Infrastructure Modernization Act, which
will establish and allow for a reconciliation of electric
distribution service rates through 2023, its participation in
electric energy-efficiency programs, and the related impact of the
direct relationship between Ameren Illinois' ROE and the 30-year
United States Treasury bond yields;
- the effect and duration of Ameren Illinois' election to either
utilize traditional regulatory rate reviews or Multi-Year Rate
Plans for electric distribution service ratemaking effective for
rates beginning in 2024;
- the effect on Ameren Missouri's investment plan and earnings if
an extension to use PISA is not
sought by Ameren Missouri or approved by the Missouri Public
Service Commission (MoPSC);
- the effect on Ameren Missouri of any customer rate caps
pursuant to Ameren Missouri's election to use the plant-in-service
accounting (PISA), including an
extension of use beyond 2023, if requested by Ameren Missouri and
approved by the MoPSC;
- the effects of changes in federal, state, or local laws and
other governmental actions, including monetary, fiscal, and energy
policies;
- the effects of changes in federal, state, or local tax laws,
regulations, interpretations, or rates, and challenges to the tax
positions we have taken, if any, as well as resulting effects on
customer rates;
- the effects on energy prices and demand for our services
resulting from technological advances, including advances in
customer energy efficiency, electric vehicles, electrification of
various industries, energy storage, 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 Missouri Energy Efficiency Investment
Act (MEEIA) programs;
- Ameren Illinois' ability to achieve the performance standards
applicable to its electric distribution business and electric
customer energy-efficiency goals and the resulting impact on its
allowed ROE;
- our ability to control costs and make substantial investments
in our businesses, including our ability to recover costs and
investments, and to earn our allowed ROEs, within frameworks
established by our regulators, while maintaining affordability of
our services for our customers;
- the cost and availability of fuel, such as low-sulfur coal,
natural gas, and enriched uranium used to produce electricity; the
cost and availability of purchased power, zero emission credits,
renewable energy credits, emission allowances, and natural gas for
distribution; and the level and volatility of future market prices
for such commodities and credits;
- 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 nuclear fuel
assemblies from the one Nuclear Regulatory Commission-licensed
supplier of Ameren Missouri's Callaway Energy Center
assemblies;
- 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 effectiveness of our risk management strategies and our use
of financial and derivative instruments;
- the ability to obtain sufficient insurance, or in the absence
of insurance, the ability to timely recover uninsured losses from
our customers;
- the impact of cyberattacks on us or our suppliers, which could,
among other things, 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,
employee, financial, and operating system information;
- business and economic conditions, which have been affected by,
and will be affected by the length and severity of, the COVID-19
pandemic, including the impact of such conditions on interest rates
and inflation;
- 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, including any impacts on our credit ratings that may
result from the economic conditions of the COVID-19 pandemic;
- the inability of our counterparties to meet their obligations
with respect to contracts, credit agreements, and financial
instruments, including as they relate to the construction and
acquisition of electric and natural gas utility infrastructure and
the ability of counterparties to complete projects which is
dependent upon the availability of necessary materials and
equipment, including those that are affected by disruptions in the
global supply chain caused by the COVID-19 pandemic;
- the impact of weather conditions and other natural phenomena on
us and our customers, including the impact of system outages and
the level of wind and solar resources;
- the construction, installation, performance, and cost recovery
of generation, transmission, and distribution assets;
- the effects of failures of electric generation, electric and
natural gas transmission or distribution, or natural gas storage
facilities systems and equipment, which could result in
unanticipated liabilities or unplanned outages;
- the operation of Ameren Missouri's Callaway Energy Center,
including planned and unplanned outages, as well as the ability to
recover costs associated with such outages and the impact of such
outages on off-system sales and purchased power, among other
things;
- Ameren Missouri's ability to recover the remaining investment
and decommissioning costs associated with the retirement of an
energy center, as well as the ability to earn a return on that
remaining investment and those decommissioning costs;
- the impact of current environmental laws and new, more
stringent, or changing requirements, including those related to the
New Source Review and carbon dioxide, other emissions and
discharges, Illinois emission
standards, cooling water intake structures, coal combustion
residuals, energy efficiency, and wildlife protection, that could
limit or terminate the operation of certain of Ameren Missouri's
energy centers, increase our operating 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 standards in
Missouri and Illinois and with the zero emission standard
in Illinois;
- Ameren Missouri's ability to construct and/or acquire wind,
solar, and other renewable energy generation facilities, retire
energy centers, and implement new or existing customer energy
efficiency programs, including any such construction, acquisition,
retirement, or implementation in connection with its Smart Energy
Plan, integrated resource plan, or emissions reduction goals, and
to recover its cost of investment, related return, and in the case
of customer energy-efficiency programs, any lost margins in a
timely manner, which is affected by the ability to obtain all
necessary regulatory and project approvals, including certificates
of convenience and necessity from the MoPSC or any other required
approvals for the addition of renewable resources;
- the availability of federal production and investment tax
credits related to renewable energy and Ameren Missouri's ability
to use such credits; the cost of wind, solar, and other renewable
generation and storage technologies; and our ability to obtain
timely interconnection agreements with the MISO or other regional
transmission organizations at an acceptable cost for each
facility;
- advancements in carbon-free generation and storage
technologies, and the impact of constructive federal and state
energy and economic policies with respect to those
technologies;
- labor disputes, work force reductions, changes in future wage
and employee benefits costs, including those resulting from changes
in discount rates, mortality tables, returns on benefit plan
assets, and other assumptions;
- the impact of negative opinions of us or our utility services
that our customers, investors, legislators, regulators or other
stakeholders may have or develop, which could result from a variety
of factors, including failures in system reliability, failure to
implement our investment plans or to protect sensitive customer
information, increases in rates, negative media coverage, or
concerns about environmental, social, and/or governance
practices;
- the impact of adopting new accounting guidance;
- the effects of strategic initiatives, including mergers,
acquisitions, and divestitures;
- legal and administrative proceedings; 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
December 31,
|
|
Year Ended
December 31,
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
1,189
|
|
$
1,065
|
|
$
5,297
|
|
$
4,911
|
Natural gas
|
356
|
|
263
|
|
1,097
|
|
883
|
Total operating
revenues
|
1,545
|
|
1,328
|
|
6,394
|
|
5,794
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
159
|
|
90
|
|
581
|
|
490
|
Purchased
power
|
127
|
|
130
|
|
606
|
|
513
|
Natural gas purchased
for resale
|
167
|
|
89
|
|
442
|
|
272
|
Other operations and
maintenance
|
485
|
|
421
|
|
1,774
|
|
1,661
|
Depreciation and
amortization
|
290
|
|
276
|
|
1,146
|
|
1,075
|
Taxes other than
income taxes
|
120
|
|
111
|
|
512
|
|
483
|
Total operating
expenses
|
1,348
|
|
1,117
|
|
5,061
|
|
4,494
|
Operating
Income
|
197
|
|
211
|
|
1,333
|
|
1,300
|
Other Income,
Net
|
51
|
|
34
|
|
202
|
|
151
|
Interest
Charges
|
93
|
|
108
|
|
383
|
|
419
|
Income Before
Income Taxes
|
155
|
|
137
|
|
1,152
|
|
1,032
|
Income
Taxes
|
29
|
|
21
|
|
157
|
|
155
|
Net
Income
|
126
|
|
116
|
|
995
|
|
877
|
Less: Net Income
Attributable to Noncontrolling Interests
|
1
|
|
1
|
|
5
|
|
6
|
Net Income
Attributable to Ameren Common Shareholders
|
$
125
|
|
$
115
|
|
$
990
|
|
$
871
|
|
|
|
|
|
|
|
|
Earnings per
Common Share – Basic
|
$
0.48
|
|
$
0.47
|
|
$
3.86
|
|
$
3.53
|
|
|
|
|
|
|
|
|
Earnings per
Common Share – Diluted
|
$
0.48
|
|
$
0.46
|
|
$
3.84
|
|
$
3.50
|
|
|
|
|
|
|
|
|
Weighted-average
Common Shares Outstanding – Basic
|
257.6
|
|
247.4
|
|
256.3
|
|
247.0
|
Weighted-average
Common Shares Outstanding – Diluted
|
258.9
|
|
249.7
|
|
257.6
|
|
248.7
|
AMEREN CORPORATION
(AEE)
CONSOLIDATED
BALANCE SHEET
(Unaudited, in
millions)
|
|
|
December 31,
2021
|
|
December 31,
2020
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
8
|
|
$
139
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
434
|
|
415
|
Unbilled
revenue
|
301
|
|
269
|
Miscellaneous accounts
receivable
|
85
|
|
65
|
Inventories
|
592
|
|
521
|
Current regulatory
assets
|
319
|
|
109
|
Other current
assets
|
229
|
|
135
|
Total current
assets
|
1,968
|
|
1,653
|
Property, Plant,
and Equipment, Net
|
29,261
|
|
26,807
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
1,159
|
|
982
|
Goodwill
|
411
|
|
411
|
Regulatory
assets
|
1,289
|
|
1,100
|
Pension and other
postretirement benefits
|
756
|
|
288
|
Other
assets
|
891
|
|
789
|
Total investments and
other assets
|
4,506
|
|
3,570
|
TOTAL
ASSETS
|
$
35,735
|
|
$
32,030
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
505
|
|
$
8
|
Short-term
debt
|
545
|
|
490
|
Accounts and wages
payable
|
1,095
|
|
958
|
Interest
accrued
|
123
|
|
114
|
Current regulatory
liabilities
|
113
|
|
121
|
Other current
liabilities
|
445
|
|
489
|
Total current
liabilities
|
2,826
|
|
2,180
|
Long-term Debt,
Net
|
12,562
|
|
11,078
|
Deferred Credits
and Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes and investment tax credits, net
|
3,499
|
|
3,211
|
Regulatory
liabilities
|
5,848
|
|
5,282
|
Asset retirement
obligations
|
757
|
|
696
|
Other deferred credits
and liabilities
|
414
|
|
503
|
Total deferred credits
and other liabilities
|
10,518
|
|
9,692
|
Shareholders'
Equity:
|
|
|
|
Common
stock
|
3
|
|
3
|
Other paid-in capital,
principally premium on common stock
|
6,502
|
|
6,179
|
Retained
earnings
|
3,182
|
|
2,757
|
Accumulated other
comprehensive income (loss)
|
13
|
|
(1)
|
Total shareholders'
equity
|
9,700
|
|
8,938
|
Noncontrolling
Interests
|
129
|
|
142
|
Total
equity
|
9,829
|
|
9,080
|
TOTAL LIABILITIES
AND EQUITY
|
$
35,735
|
|
$
32,030
|
AMEREN CORPORATION
(AEE)
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in
millions)
|
|
|
Year Ended
December 31,
|
|
2021
|
|
2020
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$
995
|
|
$
877
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
1,219
|
|
1,085
|
Amortization of
nuclear fuel
|
58
|
|
68
|
Amortization of debt
issuance costs and premium/discounts
|
23
|
|
22
|
Deferred income taxes
and investment tax credits, net
|
156
|
|
148
|
Allowance for equity
funds used during construction
|
(43)
|
|
(32)
|
Stock-based
compensation costs
|
22
|
|
21
|
Other
|
19
|
|
22
|
Changes in assets and
liabilities
|
(788)
|
|
(484)
|
Net cash provided
by operating activities
|
1,661
|
|
1,727
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(2,954)
|
|
(2,669)
|
Wind generation
expenditures
|
(525)
|
|
(564)
|
Nuclear fuel
expenditures
|
(44)
|
|
(66)
|
Purchases of
securities – nuclear decommissioning trust fund
|
(452)
|
|
(224)
|
Sales and maturities
of securities – nuclear decommissioning trust fund
|
439
|
|
183
|
Other
|
8
|
|
11
|
Net cash used in
investing activities
|
(3,528)
|
|
(3,329)
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(565)
|
|
(494)
|
Dividends paid to
noncontrolling interest holders
|
(5)
|
|
(6)
|
Short-term debt,
net
|
55
|
|
50
|
Maturities of
long-term debt
|
(8)
|
|
(442)
|
Issuances of long-term
debt
|
1,997
|
|
2,183
|
Issuances of common
stock
|
308
|
|
476
|
Redemptions of Ameren
Illinois preferred stock
|
(13)
|
|
—
|
Employee payroll taxes
related to stock-based compensation
|
(17)
|
|
(20)
|
Debt issuance
costs
|
(18)
|
|
(20)
|
Other
|
(13)
|
|
—
|
Net cash provided
by financing activities
|
1,721
|
|
1,727
|
Net change in
cash, cash equivalents, and restricted cash
|
(146)
|
|
125
|
Cash, cash
equivalents, and restricted cash at beginning of
year
|
301
|
|
176
|
Cash, cash
equivalents, and restricted cash at end of year
|
$
155
|
|
$
301
|
AMEREN CORPORATION
(AEE)
OPERATING
STATISTICS
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
December 31,
|
|
December 31,
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
2,882
|
|
3,099
|
|
13,366
|
|
13,267
|
Commercial
|
3,143
|
|
3,115
|
|
13,556
|
|
13,117
|
Industrial
|
1,012
|
|
1,036
|
|
4,151
|
|
4,158
|
Street lighting and
public authority
|
23
|
|
25
|
|
81
|
|
88
|
Ameren Missouri retail
load subtotal
|
7,060
|
|
7,275
|
|
31,154
|
|
30,630
|
Off-system
|
2,913
|
|
929
|
|
7,425
|
|
7,578
|
Ameren Missouri
total
|
9,973
|
|
8,204
|
|
38,579
|
|
38,208
|
Ameren Illinois
Electric Distribution
|
|
|
|
|
|
|
|
Residential
|
2,568
|
|
2,612
|
|
11,620
|
|
11,491
|
Commercial
|
2,864
|
|
2,787
|
|
11,795
|
|
11,414
|
Industrial
|
2,820
|
|
2,563
|
|
11,076
|
|
10,674
|
Street lighting and
public authority
|
103
|
|
106
|
|
430
|
|
442
|
Ameren Illinois
Electric Distribution total
|
8,355
|
|
8,068
|
|
34,921
|
|
34,021
|
Eliminate affiliate
sales
|
(148)
|
|
(18)
|
|
(412)
|
|
(322)
|
Ameren
total
|
18,180
|
|
16,254
|
|
73,088
|
|
71,907
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
$
268
|
|
$
262
|
|
$
1,445
|
|
$
1,373
|
Commercial
|
227
|
|
197
|
|
1,126
|
|
1,025
|
Industrial
|
59
|
|
54
|
|
280
|
|
261
|
Other, including
street lighting and public authority
|
41
|
|
60
|
|
170
|
|
155
|
Ameren Missouri retail
load subtotal
|
$
595
|
|
$
573
|
|
$
3,021
|
|
$
2,814
|
Off-system
|
74
|
|
25
|
|
191
|
|
170
|
Ameren Missouri
total
|
$
669
|
|
$
598
|
|
$
3,212
|
|
$
2,984
|
Ameren Illinois
Electric Distribution
|
|
|
|
|
|
|
|
Residential
|
$
228
|
|
$
203
|
|
$
933
|
|
$
867
|
Commercial
|
143
|
|
121
|
|
545
|
|
486
|
Industrial
|
41
|
|
33
|
|
135
|
|
124
|
Other, including
street lighting and public authority
|
—
|
|
8
|
|
26
|
|
21
|
Ameren Illinois
Electric Distribution total
|
$
412
|
|
$
365
|
|
$
1,639
|
|
$
1,498
|
Ameren
Transmission
|
|
|
|
|
|
|
|
Ameren Illinois
Transmission(a)
|
$
88
|
|
$
76
|
|
$
365
|
|
$
329
|
ATXI
|
50
|
|
47
|
|
199
|
|
194
|
Eliminate affiliate
revenues
|
(2)
|
|
—
|
|
(2)
|
|
—
|
Ameren Transmission
total
|
$
136
|
|
$
123
|
|
$
562
|
|
$
523
|
Other and
intersegment eliminations
|
(28)
|
|
(21)
|
|
(116)
|
|
(94)
|
Ameren
total
|
$
1,189
|
|
$
1,065
|
|
$
5,297
|
|
$
4,911
|
|
|
(a)
|
Includes $17 million,
$13 million, $66 million and $52 million, respectively, of electric
operating revenues from transmission services provided to the
Ameren Illinois Electric Distribution segment.
|
AMEREN CORPORATION
(AEE)
OPERATING
STATISTICS
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
December 31,
|
|
December 31,
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Gas Sales -
dekatherms (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
6
|
|
6
|
|
21
|
|
20
|
Ameren Illinois
Natural Gas
|
48
|
|
50
|
|
174
|
|
173
|
Ameren
total
|
54
|
|
56
|
|
195
|
|
193
|
Gas Revenues (in
millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
$
42
|
|
$
38
|
|
$
141
|
|
$
125
|
Ameren Illinois
Natural Gas
|
315
|
|
227
|
|
957
|
|
760
|
Eliminate affiliate
revenues
|
(1)
|
|
(2)
|
|
(1)
|
|
(2)
|
Ameren
total
|
$
356
|
|
$
263
|
|
$
1,097
|
|
$
883
|
|
|
|
December 31,
2021
|
|
|
|
December 31,
2020
|
Common
Stock:
|
|
|
|
|
|
|
|
Shares outstanding (in
millions)
|
|
|
257.7
|
|
|
|
253.3
|
Book value per
share
|
|
|
$
37.64
|
|
|
|
$
35.29
|
|
|
|
|
|
|
|
|
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SOURCE Ameren Corporation