Ameren Corp. Files Q3 2024 10-Q Report

TL;DR

Ameren's Q3 2024 10-Q is in. Check it for the latest financials.

AI Summary

Ameren Corp. reported its third-quarter 2024 financial results, ending September 30, 2024. The company's filing provides an update on its operations and financial standing. Specific financial figures and operational details for the quarter are detailed within the report.

Why It Matters

This 10-Q filing provides crucial financial and operational insights into Ameren Corp.'s performance for the third quarter of 2024, impacting investors and stakeholders.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational updates.

Key Numbers

• 10-Q — Form Type (Indicates a quarterly report filed with the SEC.)
• 20240930 — Reporting Period End Date (Specifies the end date for the financial data presented in the report.)
• 20241107 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• AMEREN CORP (company) — Filer of the 10-Q report
• Ameren Illinois Co (company) — Subsidiary of Ameren Corp.
• UNION ELECTRIC CO (company) — Subsidiary of Ameren Corp.
• 20240930 (date) — End of the reporting period for the 10-Q
• 20241107 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share AEE New York Stock
• $5 — 7 Union Electric Company Common stock, $5 par value per share, held by Ameren Cor

Filing Documents

• aee-20240930.htm (10-Q) — 4334KB
• aee-2024xq3xexhibit41.htm (EX-4.1) — 563KB
• aee-2024q3xexhibit311.htm (EX-31.1) — 9KB
• aee-2024q3xexhibit312.htm (EX-31.2) — 9KB
• aee-2024q3xexhibit313.htm (EX-31.3) — 9KB
• aee-2024q3xexhibit314.htm (EX-31.4) — 9KB
• aee-2024q3xexhibit315.htm (EX-31.5) — 9KB
• aee-2024q3xexhibit316.htm (EX-31.6) — 9KB
• aee-2024q3xexhibit321.htm (EX-32.1) — 5KB
• aee-2024q3xexhibit322.htm (EX-32.2) — 5KB
• aee-2024q3xexhibit323.htm (EX-32.3) — 5KB
• aee-20240930_g1.jpg (GRAPHIC) — 25KB
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• aee-20240930_g7.jpg (GRAPHIC) — 66KB
• aee-20240930_g8.jpg (GRAPHIC) — 25KB
• aee-20240930_g9.jpg (GRAPHIC) — 28KB
• 0001002910-24-000111.txt ( ) — 20619KB
• aee-20240930.xsd (EX-101.SCH) — 81KB
• aee-20240930_cal.xml (EX-101.CAL) — 94KB
• aee-20240930_def.xml (EX-101.DEF) — 540KB
• aee-20240930_lab.xml (EX-101.LAB) — 870KB
• aee-20240930_pre.xml (EX-101.PRE) — 662KB
• aee-20240930_htm.xml (XML) — 4451KB

Forward-looking Statements

Forward-looking Statements 1

Financial Information

PART I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4 Ameren Corporation 4 Consolidated Statement of Income and Comprehensive Income 4 Consolidated Balance Sheet 5 Consolidated Statement of Cash Flows 6 Consolidated Statement of Shareholders' Equity 7 Union Electric Company (d/b/a Ameren Missouri) 8 Consolidated Statement of Income 8 Consolidated Balance Sheet 9 Consolidated Statement of Cash Flows 10 Consolidated Statement of Shareholders' Equity 11 Ameren Illinois Company (d/b/a Ameren Illinois) 12 12 Balance Sheet 13 14 15 Note 1. Summary of Significant Accounting Policies 16 Note 2. Rate and Regulatory Matters 17 Note 3. Short-term Debt and Liquidity 21 Note 4. Long-term Debt and Equity Financings 22 Note 5. Other Income, Net 24 Note 6. Derivative Financial Instruments 24 Note 7. Fair Value Measurements 26 Note 8. Related-party Transactions 29 Note 9. Commitments and Contingencies 30 Note 10. Callaway Energy Center 33 Note 11. Retirement Benefits 34 Note 12. Income Taxes 35 Note 13. Supplemental Information 36 Note 14. Segment Information 39

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 43

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 79

Controls and Procedures

Item 4. Controls and Procedures 80

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 80

Risk Factors

Item 1A. Risk Factors 80

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 80

Other Information

Item 5. Other Information 80

Exhibits

Item 6. Exhibits 81

Signatures

Signatures 82 Table of Contents GLOSSARY OF TERMS AND ABBREVIATIONS We use the words "our," "we" or "us" with respect to certain information that relates to Ameren, Ameren Missouri, and Ameren Illinois, collectively. When appropriate, subsidiaries of Ameren Corporation are named specifically as their various business activities are discussed. Refer to the Form 10-K for a complete listing of glossary terms and abbreviations. Only new or significantly changed terms and abbreviations are included below. Form 10-K – The combined Annual Report on Form 10-K for the year ended December 31, 2023, filed by the Ameren Companies with the SEC. QTD – Three months ended September 30. YTD – Nine months ended September 30. YoY – Compared with the year-ago period.

FORWARD-LOOKING STATEMENTS

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 any additional mitigation relief related to the operation of the Rush Island Energy Center that may be ordered by the United States District Court for the Eastern District of Missouri, Ameren Missouri's electric service regulatory rate review filed with the MoPSC in June 2024, Ameren Missouri's natural gas delivery service regulatory rate review filed with the MoPSC in September 2024, the nonunanimous stipulation and agreement between Ameren Missouri, the MoOPC, and other intervenors related to a customer energy-efficiency plan under the MEEIA filed with the MoPSC in October 2024, Ameren Illinois' December 2023 ICC order for the MY

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. AMEREN CORPORATION CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (In millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating Revenues: Electric $ 2,035 $ 1,921 $ 4,920 $ 5,096 Natural gas 138 139 762 786 Total operating revenues 2,173 2,060 5,682 5,882 Operating Expenses: Fuel and purchased power 499 430 1,154 1,518 Natural gas purchased for resale 30 30 214 280 Other operations and maintenance 520 470 1,455 1,368 Depreciation and amortization 388 369 1,125 1,024 Taxes other than income taxes 150 147 416 398 Total operating expenses 1,587 1,446 4,364 4,588 Operating Income 586 614 1,318 1,294 Other Income, Net 101 101 293 261 Interest Charges 173 152 492 413 Income Before Income Taxes 514 563 1,119 1,142 Income Taxes 57 69 140 144 Net Income 457 494 979 998 Less: Net Income Attributable to Noncontrolling Interests 1 1 4 4 Net Income Attributable to Ameren Common Shareholders $ 456 $ 493 $ 975 $ 994 Net Income $ 457 $ 494 $ 979 $ 998 Other Comprehensive Loss, Net of Taxes Pension and other postretirement benefit plan activity, net of income taxes (benefit) of $ — , $( 1 ), $( 1 ), and $( 1 ), respectively ( 1 ) ( 1 ) ( 4 ) ( 3 ) Comprehensive Income 456 493 975 995 Less: Comprehensive Income Attributable to Noncontrolling Interests 1 1 4 4 Comprehensive Income Attributable to Ameren Common Shareholders $ 455 $ 492 $ 971 $ 991 Earnings per Common Share – Basic $ 1.71 $ 1.88 $ 3.66 $ 3.79 Earnings per Common Share – Diluted $ 1.70 $ 1.87 $ 3.65 $ 3.78 Weighted-average Common Shares Outstanding – Basic 266.8 262.8 266.6 262.5 Weighted-average Common Shares Outstanding – Diluted 267.3 263.4 266.9 263.2 The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Contents AMEREN CORPORATION CONSOLIDATED BALANCE SHEET (Unaudited) (In millions, except per

View Full Filing

View this 10-Q filing on SEC EDGAR