Ameren Corp Files 10-Q for Q2 2024

Ticker: AILIP · Form: 10-Q · Filed: Aug 5, 2024 · CIK: 18654

Ameren Illinois Co 10-Q Filing Summary
FieldDetail
CompanyAmeren Illinois Co (AILIP)
Form Type10-Q
Filed DateAug 5, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $5
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, quarterly-filing, financials

TL;DR

Ameren's Q2 10-Q is in. Check financials for Ameren Corp, Ameren Illinois, and Union Electric.

AI Summary

Ameren Corporation filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational updates. Ameren Illinois Co and Union Electric Co are also listed as related entities within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for Ameren Corporation, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

  • AMEREN CORP (company) — Filer
  • Ameren Illinois Co (company) — Filer
  • UNION ELECTRIC CO (company) — Filer
  • 20240630 (date) — Period of Report
  • 20240805 (date) — Filing Date

FAQ

What is the reporting period for this 10-Q filing?

The Conformed Period of Report is 20240630, meaning the filing covers the period ending June 30, 2024.

What is the filing date of this 10-Q?

This 10-Q was filed on 20240805.

What are the main entities listed in this filing?

The main entities listed are AMEREN CORP, Ameren Illinois Co, and UNION ELECTRIC CO.

What is the Standard Industrial Classification for AMEREN CORP?

The Standard Industrial Classification for AMEREN CORP is ELECTRIC & OTHER SERVICES COMBINED [4931].

Where is AMEREN CORP's business address?

AMEREN CORP's business address is 1901 CHOUTEAU AVE, ST LOUIS, MO 63166-6149.

Filing Stats: 4,590 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-05 17:10:03

Key Financial Figures

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

Filing Documents

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 20 Note 4. Long-term Debt and Equity Financings 21 Note 5. Other Income, Net 23 Note 6. Derivative Financial Instruments 23 Note 7. Fair Value Measurements 25 Note 8. Related-party Transactions 28 Note 9. Commitments and Contingencies 29 Note 10. Callaway Energy Center 33 Note 11. Retirement Benefits 34 Note 12. Income Taxes 35 Note 13. Supplemental Information 35 Note 14. Segment Information 38

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 42

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 78

Controls and Procedures

Item 4. Controls and Procedures 78

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 78

Risk Factors

Item 1A. Risk Factors 78

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 79

Other Information

Item 5. Other Information 79

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 June 30. YTD – Six months ended June 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, the MoOPC's request for rehearing of the MoPSC's June 2024 financing order to authorize the issuance of securitized utility tariff bonds to finance the cost of the planned accelerated retirement of the Rush Island Energy Center, Ameren Missouri's electric service regulatory rate review filed with the MoPSC in June 2024, Ameren Missouri's proposed customer energy-efficiency plan under the MEEIA filed with the MoPSC in January 2024, Ameren Illinois' De

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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating Revenues: Electric $ 1,521 $ 1,585 $ 2,885 $ 3,175 Natural gas 172 175 624 647 Total operating revenues 1,693 1,760 3,509 3,822 Operating Expenses: Fuel and purchased power 327 480 655 1,088 Natural gas purchased for resale 33 42 184 250 Other operations and maintenance 465 450 935 898 Depreciation and amortization 376 335 737 655 Taxes other than income taxes 131 124 266 251 Total operating expenses 1,332 1,431 2,777 3,142 Operating Income 361 329 732 680 Other Income, Net 103 82 192 160 Interest Charges 165 134 319 261 Income Before Income Taxes 299 277 605 579 Income Taxes 39 38 83 75 Net Income 260 239 522 504 Less: Net Income Attributable to Noncontrolling Interests 2 2 3 3 Net Income Attributable to Ameren Common Shareholders $ 258 $ 237 $ 519 $ 501 Net Income $ 260 $ 239 $ 522 $ 504 Other Comprehensive Loss, Net of Taxes Pension and other postretirement benefit plan activity, net of income taxes (benefit) of $( 1 ), $ — , $( 1 ), and $ — , respectively ( 2 ) ( 1 ) ( 3 ) ( 2 ) Comprehensive Income 258 238 519 502 Less: Comprehensive Income Attributable to Noncontrolling Interests 2 2 3 3 Comprehensive Income Attributable to Ameren Common Shareholders $ 256 $ 236 $ 516 $ 499 Earnings per Common Share – Basic $ 0.97 $ 0.90 $ 1.95 $ 1.91 Earnings per Common Share – Diluted $ 0.97 $ 0.90 $ 1.95 $ 1.90 Weighted-average Common Shares Outstanding – Basic 266.7 262.6 266.5 262.4 Weighted-average Common Shares Outstanding – Diluted 266.8 263.2 266.8 263.2 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 share amounts) June 30, 2024 De

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