Ameren Corp. Files 10-Q for Q3 2024

Ticker: UEPCO · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 100826

Union Electric Co 10-Q Filing Summary
FieldDetail
CompanyUnion Electric Co (UEPCO)
Form Type10-Q
Filed DateNov 7, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $5
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

TL;DR

Ameren Corp. 10-Q filed Nov 7, 2024 for Q3 2024. Financials and ops update.

AI Summary

Ameren Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operational status. Key financial figures and operational highlights are presented within the report, providing stakeholders with an update on the company's standing.

Why It Matters

This 10-Q filing provides investors and analysts with crucial financial and operational data for Ameren Corp. as of September 30, 2024, impacting investment decisions and market perception.

Risk Assessment

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

Key Numbers

  • 10-Q — Form Type (Quarterly Report)
  • 20240930 — Period End (Fiscal Quarter End)
  • 20241107 — Filing Date (Date Filed with SEC)

Key Players & Entities

  • AMEREN CORP (company) — Filer
  • UNION ELECTRIC CO (company) — Former Company Name
  • Ameren Illinois Co (company) — Subsidiary
  • 20240930 (date) — Reporting Period End Date
  • 20241107 (date) — Filing Date

FAQ

What is the primary purpose of this 10-Q filing?

The 10-Q filing provides a comprehensive quarterly financial report for Ameren Corp. for the period ending September 30, 2024.

Who is the main filer of this report?

The main filer is AMEREN CORP, with a Central Index Key of 0001002910.

What is the reporting period for this 10-Q?

The reporting period for this 10-Q is the quarter ended September 30, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on November 7, 2024.

What is the Standard Industrial Classification for Ameren Corp?

The Standard Industrial Classification for Ameren Corp. is ELECTRIC & OTHER SERVICES COMBINED [4931].

Filing Stats: 4,571 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-07 17:10:02

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

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

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