ST. LOUIS, Feb. 16, 2017 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) today announced 2016 net income attributable to common shareholders in accordance with Generally Accepted Accounting Principles (GAAP) of $653 million, or $2.68 per diluted share, compared to $630 million, or $2.59 per diluted share, for 2015. The 2015 GAAP earnings 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. Excluding these two items, Ameren recorded 2015 core earnings of $622 million, or $2.56 per diluted share.
The year-over-year increase in 2016 earnings reflected increased 2016 electric transmission and distribution infrastructure investments made by Ameren Transmission Company of Illinois (ATXI) and Ameren Illinois under modern, constructive regulatory frameworks. Earnings in 2016 also benefited from higher summer 2016 electric sales to residential and commercial customers driven by warmer temperatures, as well as higher Illinois natural gas distribution rates and 2016 tax impacts associated with share-based compensation. These positive factors were partially offset by lower electric sales to the New Madrid aluminum smelter, the unfavorable comparative impact of the 2015 Missouri energy efficiency plan and 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center compared to no such outage in 2015.
"In 2016, we again delivered solid earnings growth," 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, enhancing existing regulatory frameworks in Illinois and managing costs in a disciplined manner."
Ameren recorded GAAP net income attributable to common shareholders for the three months ended Dec. 31, 2016, of $32 million, or 13 cents per diluted share, compared to $29 million, or 12 cents per diluted share, for the same period in 2015. The GAAP results for the three months ended Dec. 31, 2015, included a $1 million loss from discontinued operations. The year-over-year increase in fourth quarter 2016 earnings reflected higher retail electric and gas sales to residential and commercial customers due to near-normal winter temperatures compared to mild temperatures in the fourth quarter of 2015. Earnings in 2016 also reflected increased electric transmission infrastructure investments made by ATXI and Ameren Illinois, as well as a lower effective income tax rate. These factors were partially offset by the unfavorable comparative impact of the 2015 Missouri energy efficiency plan and lower electric sales to the New Madrid smelter.
As reflected in the table below, the following items were excluded from core earnings for the year ended Dec. 31, 2015:
A reconciliation of full-year GAAP to core earnings in millions of dollars and per share, is as follows:
Year Ended | ||||||||||||
Dec. 31, | ||||||||||||
2016 |
2015 | |||||||||||
GAAP Earnings / Diluted EPS |
$ |
653 |
$ |
2.68 |
$ |
630 |
$ |
2.59 |
||||
Results from discontinued operations |
||||||||||||
Operating income before income tax |
— |
— |
(1) |
(0.01) |
||||||||
Income tax benefit |
— |
— |
(50) |
(0.20) |
||||||||
Income from discontinued operations, net of taxes |
— |
— |
(51) |
(0.21) |
||||||||
Provision for Callaway COL |
||||||||||||
Provision before income tax |
— |
— |
69 |
0.29 |
||||||||
Income tax benefit |
— |
— |
(26) |
(0.11) |
||||||||
Provision, net of taxes |
— |
— |
43 |
0.18 |
||||||||
Core Earnings / Diluted EPS |
$ |
653 |
$ |
2.68 |
$ |
622 |
$ |
2.56 |
Earnings Guidance
Ameren expects 2017 diluted earnings per share to be in a range of $2.65 to $2.85 and continues to expect diluted earnings per share to grow at a 5% to 8% compound annual rate from 2016 through 2020, driven by projected rate base growth and based on the adjusted 2016 earnings per share guidance midpoint of $2.63 provided in February 2016. Ameren also expects projected rate base growth of 6% compounded annually from 2016 through 2021.
"Looking ahead, we plan to continue to deliver solid long-term earnings per share growth compared to our peers reflecting a robust pipeline of investments in critical energy infrastructure that will deliver long-term benefits to our customers and the communities we serve," Baxter said. "In addition, we will maintain our strong financial discipline by allocating more capital to those jurisdictions with modern, constructive frameworks and will continue to actively engage with policymakers and key stakeholders to implement energy and economic policies that will deliver long-term benefits to our customers and shareholders."
Earnings guidance for 2017 assumes normal temperatures and, along with Ameren's growth expectations, 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 Reportable Segments
Effective with the fourth quarter of 2016, Ameren now has four reportable segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas and Ameren Transmission. The Ameren Missouri segment includes all of the operations of Ameren Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois. The Ameren Illinois Natural Gas segment consists of the natural gas distribution business of Ameren Illinois. The Ameren Transmission segment is composed of the electric transmission businesses of Ameren Illinois and ATXI. The Other category includes all activities not included in the four reportable segments.
Ameren Missouri Segment Results
Ameren Missouri segment 2016 GAAP and core earnings were $357 million, compared to 2015 GAAP and core earnings of $352 million and $395 million, respectively. GAAP earnings in 2015 included the provision for the Callaway COL, but this item was excluded from core earnings. The decrease in year-over-year core earnings reflected lower electric sales to the New Madrid smelter, the unfavorable comparative impact of the 2015 energy efficiency plan, 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center compared to no such outage in 2015, as well as higher depreciation expense. These unfavorable factors were partially offset by higher 2016 electric sales to residential and commercial customers primarily driven by warmer summer temperatures, as well as lower other operations and maintenance and financing expenses.
Ameren Illinois Electric Distribution Segment Results
Ameren Illinois Electric Distribution segment 2016 earnings were $126 million, compared to 2015 earnings of $123 million. The year-over-year earnings improvement reflected increased infrastructure investments, as well as higher electric sales driven by warmer summer temperatures. These positive factors were partially offset by a reduced allowed return on equity due to lower 30-year U.S. Treasury bond yields and by the absence in 2016 of an Illinois Commerce Commission (ICC) order approving recovery of cumulative power usage costs in 2015.
Ameren Illinois Natural Gas Segment Results
Ameren Illinois Natural Gas segment 2016 earnings were $59 million, compared to 2015 earnings of $37 million. The year-over-year earnings improvement reflected higher natural gas distribution rates authorized in a December 2015 ICC order, which incorporated 2016 energy infrastructure investments and a higher allowed return on equity.
Ameren Transmission Segment Results
Ameren Transmission segment 2016 earnings were $117 million, compared to 2015 earnings of $83 million. The year-over-year earnings improvement reflected increased infrastructure investments and a higher average allowed return on equity.
Other Results from Continuing Operations
Results for the Other category for 2016 were a loss of $6 million, compared to a loss of $16 million for 2015. This reduced year-over-year loss reflected a decrease in the effective income tax rate, which was primarily due to the recognition of 2016 tax benefits of $21 million associated with share-based compensation. This positive factor was 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 Thursday, Feb. 16, to discuss 2016 earnings, earnings guidance and growth expectations, and regulatory and other matters. Investors, the news media and the public may listen to a live Internet broadcast of the call at Amereninvestors.com by clicking on the Q4 2016 "Webcast," where an accompanying slide presentation will also be available. The conference call and presentation will be archived in the "Investors 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 and natural gas transmission and 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 within 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:
New factors emerge from time to time. Management cannot predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any such 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) | |||||||||||||||
Three Months Ended |
Year Ended | ||||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||||
Operating Revenues: |
|||||||||||||||
Electric |
$ |
1,095 |
$ |
1,087 |
$ |
5,196 |
$ |
5,180 |
|||||||
Natural gas |
261 |
221 |
880 |
918 |
|||||||||||
Total operating revenues |
1,356 |
1,308 |
6,076 |
6,098 |
|||||||||||
Operating Expenses: |
|||||||||||||||
Fuel |
171 |
208 |
745 |
878 |
|||||||||||
Purchased power |
170 |
121 |
621 |
514 |
|||||||||||
Natural gas purchased for resale |
114 |
95 |
341 |
415 |
|||||||||||
Other operations and maintenance |
430 |
438 |
1,676 |
1,694 |
|||||||||||
Provision for Callaway construction and operating license |
— |
— |
— |
69 |
|||||||||||
Depreciation and amortization |
217 |
202 |
845 |
796 |
|||||||||||
Taxes other than income taxes |
109 |
104 |
467 |
473 |
|||||||||||
Total operating expenses |
1,211 |
1,168 |
4,695 |
4,839 |
|||||||||||
Operating Income |
145 |
140 |
1,381 |
1,259 |
|||||||||||
Other Income and Expenses: |
|||||||||||||||
Miscellaneous income |
20 |
20 |
74 |
74 |
|||||||||||
Miscellaneous expense |
11 |
8 |
32 |
30 |
|||||||||||
Total other income |
9 |
12 |
42 |
44 |
|||||||||||
Interest Charges |
95 |
91 |
382 |
355 |
|||||||||||
Income Before Income Taxes |
59 |
61 |
1,041 |
948 |
|||||||||||
Income Taxes |
26 |
30 |
382 |
363 |
|||||||||||
Income from Continuing Operations |
33 |
31 |
659 |
585 |
|||||||||||
Income (Loss) from Discontinued Operations, Net of Taxes |
— |
(1) |
— |
51 |
|||||||||||
Net Income |
33 |
30 |
659 |
636 |
|||||||||||
Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests |
1 |
1 |
6 |
6 |
|||||||||||
Net Income (Loss) Attributable to Ameren Common Shareholders: |
|||||||||||||||
Continuing Operations |
32 |
30 |
653 |
579 |
|||||||||||
Discontinued Operations |
— |
(1) |
— |
51 |
|||||||||||
Net Income Attributable to Ameren Common Shareholders |
$ |
32 |
$ |
29 |
$ |
653 |
$ |
630 |
|||||||
Earnings per Common Share – Basic: |
|||||||||||||||
Continuing Operations |
$ |
0.13 |
$ |
0.12 |
$ |
2.69 |
$ |
2.39 |
|||||||
Discontinued Operations |
— |
— |
— |
0.21 |
|||||||||||
Earnings per Common Share – Basic |
$ |
0.13 |
$ |
0.12 |
$ |
2.69 |
$ |
2.60 |
|||||||
Earnings per Common Share – Diluted: |
|||||||||||||||
Continuing Operations |
$ |
0.13 |
$ |
0.12 |
$ |
2.68 |
$ |
2.38 |
|||||||
Discontinued Operations |
— |
— |
— |
0.21 |
|||||||||||
Earnings per Common Share – Diluted |
$ |
0.13 |
$ |
0.12 |
$ |
2.68 |
$ |
2.59 |
|||||||
Average Common Shares Outstanding – Basic |
242.6 |
242.6 |
242.6 |
242.6 |
|||||||||||
Average Common Shares Outstanding – Diluted |
244.7 |
243.0 |
243.4 |
243.6 |
AMEREN CORPORATION (AEE) | |||||||
December 31, |
December 31, | ||||||
ASSETS |
|||||||
Current Assets: |
|||||||
Cash and cash equivalents |
$ |
9 |
$ |
292 |
|||
Accounts receivable - trade (less allowance for doubtful accounts) |
437 |
388 |
|||||
Unbilled revenue |
295 |
239 |
|||||
Miscellaneous accounts and notes receivable |
63 |
98 |
|||||
Inventories |
527 |
538 |
|||||
Current regulatory assets |
149 |
260 |
|||||
Other current assets |
98 |
88 |
|||||
Assets of discontinued operations |
15 |
14 |
|||||
Total current assets |
1,593 |
1,917 |
|||||
Property, Plant, and Equipment, Net |
20,113 |
18,799 |
|||||
Investments and Other Assets: |
|||||||
Nuclear decommissioning trust fund |
607 |
556 |
|||||
Goodwill |
411 |
411 |
|||||
Regulatory assets |
1,437 |
1,382 |
|||||
Other assets |
538 |
575 |
|||||
Total investments and other assets |
2,993 |
2,924 |
|||||
TOTAL ASSETS |
$ |
24,699 |
$ |
23,640 |
|||
LIABILITIES AND EQUITY |
|||||||
Current Liabilities: |
|||||||
Current maturities of long-term debt |
$ |
681 |
$ |
395 |
|||
Short-term debt |
558 |
301 |
|||||
Accounts and wages payable |
805 |
777 |
|||||
Taxes accrued |
46 |
43 |
|||||
Interest accrued |
93 |
89 |
|||||
Customer deposits |
107 |
100 |
|||||
Current regulatory liabilities |
110 |
80 |
|||||
Other current liabilities |
248 |
279 |
|||||
Liabilities of discontinued operations |
26 |
29 |
|||||
Total current liabilities |
2,674 |
2,093 |
|||||
Long-term Debt, Net |
6,595 |
6,880 |
|||||
Deferred Credits and Other Liabilities: |
|||||||
Accumulated deferred income taxes, net |
4,264 |
3,885 |
|||||
Accumulated deferred investment tax credits |
55 |
60 |
|||||
Regulatory liabilities |
1,985 |
1,905 |
|||||
Asset retirement obligations |
635 |
618 |
|||||
Pension and other postretirement benefits |
769 |
580 |
|||||
Other deferred credits and liabilities |
477 |
531 |
|||||
Total deferred credits and other liabilities |
8,185 |
7,579 |
|||||
Ameren Corporation Shareholders' Equity: |
|||||||
Common stock |
2 |
2 |
|||||
Other paid-in capital, principally premium on common stock |
5,556 |
5,616 |
|||||
Retained earnings |
1,568 |
1,331 |
|||||
Accumulated other comprehensive loss |
(23) |
(3) |
|||||
Total Ameren Corporation shareholders' equity |
7,103 |
6,946 |
|||||
Noncontrolling Interests |
142 |
142 |
|||||
Total equity |
7,245 |
7,088 |
|||||
TOTAL LIABILITIES AND EQUITY |
$ |
24,699 |
$ |
23,640 |
AMEREN CORPORATION (AEE) | |||||||
Year Ended December 31, | |||||||
2016 |
2015 | ||||||
Cash Flows From Operating Activities: |
|||||||
Net income |
$ |
659 |
$ |
636 |
|||
Income from discontinued operations, net of tax |
— |
(51) |
|||||
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||||
Provision for Callaway construction and operating license |
— |
69 |
|||||
Depreciation and amortization |
835 |
777 |
|||||
Amortization of nuclear fuel |
88 |
97 |
|||||
Amortization of debt issuance costs and premium/discounts |
22 |
22 |
|||||
Deferred income taxes and investment tax credits, net |
386 |
369 |
|||||
Allowance for equity funds used during construction |
(27) |
(30) |
|||||
Share-based compensation costs |
17 |
24 |
|||||
Other |
4 |
(10) |
|||||
Changes in assets and liabilities |
140 |
132 |
|||||
Net cash provided by operating activities – continuing operations |
2,124 |
2,035 |
|||||
Net cash used in operating activities – discontinued operations |
(1) |
(4) |
|||||
Net cash provided by operating activities |
2,123 |
2,031 |
|||||
Cash Flows From Investing Activities: |
|||||||
Capital expenditures |
(2,076) |
(1,917) |
|||||
Nuclear fuel expenditures |
(55) |
(52) |
|||||
Purchases of securities – nuclear decommissioning trust fund |
(392) |
(363) |
|||||
Sales and maturities of securities – nuclear decommissioning trust fund |
377 |
349 |
|||||
Proceeds from note receivable – Illinois Power Marketing Company |
— |
20 |
|||||
Contributions to note receivable – Illinois Power Marketing Company |
— |
(8) |
|||||
Other |
5 |
20 |
|||||
Net cash used in investing activities – continuing operations |
(2,141) |
(1,951) |
|||||
Net cash used in investing activities – discontinued operations |
— |
(25) |
|||||
Net cash used in investing activities |
(2,141) |
(1,976) |
|||||
Cash Flows From Financing Activities: |
|||||||
Dividends on common stock |
(416) |
(402) |
|||||
Dividends paid to noncontrolling interest holders |
(6) |
(6) |
|||||
Short-term debt, net |
257 |
(413) |
|||||
Maturities of long-term debt |
(395) |
(120) |
|||||
Issuances of long-term debt |
389 |
1,197 |
|||||
Capital issuance costs |
(9) |
(12) |
|||||
Share-based payments |
(83) |
(12) |
|||||
Other |
(2) |
— |
|||||
Net cash provided by (used in) financing activities – continuing operations |
(265) |
232 |
|||||
Net change in cash and cash equivalents |
(283) |
287 |
|||||
Cash and cash equivalents at beginning of year |
292 |
5 |
|||||
Cash and cash equivalents at end of year – continuing operations |
$ |
9 |
$ |
292 |
AMEREN CORPORATION (AEE) | |||||||||||||||
Three Months Ended |
Twelve Months Ended | ||||||||||||||
December 31, |
December 31, | ||||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||||
Electric Sales - kilowatthours (in millions): |
|||||||||||||||
Ameren Missouri |
|||||||||||||||
Residential |
3,002 |
2,717 |
13,245 |
12,903 |
|||||||||||
Commercial |
3,443 |
3,320 |
14,712 |
14,574 |
|||||||||||
Industrial |
1,107 |
2,021 |
4,790 |
8,273 |
|||||||||||
Off-system and other |
2,101 |
1,906 |
7,250 |
7,506 |
|||||||||||
Ameren Missouri total |
9,653 |
9,964 |
39,997 |
43,256 |
|||||||||||
Ameren Illinois Electric Distribution |
|||||||||||||||
Residential |
|||||||||||||||
Power supply and delivery service |
1,105 |
1,034 |
4,652 |
4,797 |
|||||||||||
Delivery service only |
1,506 |
1,487 |
6,860 |
6,757 |
|||||||||||
Commercial |
|||||||||||||||
Power supply and delivery service |
693 |
663 |
2,861 |
2,837 |
|||||||||||
Delivery service only |
2,430 |
2,290 |
9,722 |
9,443 |
|||||||||||
Industrial |
|||||||||||||||
Power supply and delivery service |
214 |
259 |
708 |
1,589 |
|||||||||||
Delivery service only |
2,629 |
2,524 |
11,030 |
10,274 |
|||||||||||
Other |
131 |
130 |
521 |
524 |
|||||||||||
Ameren Illinois Electric Distribution total |
8,708 |
8,387 |
36,354 |
36,221 |
|||||||||||
Eliminate affiliate sales |
(126) |
(179) |
(520) |
(385) |
|||||||||||
Ameren total |
18,235 |
18,172 |
75,831 |
79,092 |
|||||||||||
Electric Revenues (in millions): |
|||||||||||||||
Ameren Missouri |
|||||||||||||||
Residential |
$ |
268 |
$ |
285 |
$ |
1,421 |
$ |
1,464 |
|||||||
Commercial |
241 |
254 |
1,223 |
1,258 |
|||||||||||
Industrial |
64 |
99 |
315 |
469 |
|||||||||||
Off-system and other |
139 |
80 |
435 |
279 |
|||||||||||
Ameren Missouri total |
$ |
712 |
$ |
718 |
$ |
3,394 |
$ |
3,470 |
|||||||
Ameren Illinois Electric Distribution |
|||||||||||||||
Residential |
|||||||||||||||
Power supply and delivery service |
$ |
108 |
$ |
113 |
$ |
484 |
$ |
495 |
|||||||
Delivery service only |
77 |
75 |
410 |
363 |
|||||||||||
Commercial |
|||||||||||||||
Power supply and delivery service |
58 |
59 |
251 |
247 |
|||||||||||
Delivery service only |
57 |
50 |
267 |
227 |
|||||||||||
Industrial |
|||||||||||||||
Power supply and delivery service |
11 |
12 |
34 |
71 |
|||||||||||
Delivery service only |
15 |
13 |
62 |
53 |
|||||||||||
Other |
10 |
12 |
41 |
76 |
|||||||||||
Ameren Illinois Electric Distribution total |
$ |
336 |
$ |
334 |
$ |
1,549 |
$ |
1,532 |
|||||||
Ameren Transmission |
|||||||||||||||
Ameren Illinois Transmission(a) |
$ |
45 |
$ |
39 |
$ |
232 |
$ |
189 |
|||||||
ATXI |
27 |
14 |
123 |
70 |
|||||||||||
Ameren Transmission total |
$ |
72 |
$ |
53 |
$ |
355 |
$ |
259 |
|||||||
Other and intersegment eliminations |
(25) |
(18) |
(102) |
(81) |
|||||||||||
Ameren total |
$ |
1,095 |
$ |
1,087 |
$ |
5,196 |
$ |
5,180 |
(a) |
Includes $9 million, $6 million, $45 million and $38 million, respectively, of electric operating revenues from transmission services provided to the Ameren Illinois Electric Distribution segment. |
AMEREN CORPORATION (AEE) | |||||||||||||||
Three Months Ended |
Twelve Months Ended | ||||||||||||||
December 31, |
December 31, | ||||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||||
Gas Sales - dekatherms (in millions): |
|||||||||||||||
Ameren Missouri |
5 |
5 |
18 |
18 |
|||||||||||
Ameren Illinois Natural Gas |
49 |
41 |
166 |
165 |
|||||||||||
Ameren total |
54 |
46 |
184 |
183 |
|||||||||||
Gas Revenues (in millions): |
|||||||||||||||
Ameren Missouri |
$ |
38 |
$ |
36 |
$ |
128 |
$ |
137 |
|||||||
Ameren Illinois Natural Gas |
224 |
186 |
754 |
783 |
|||||||||||
Eliminate affiliate revenues |
(1) |
(1) |
(2) |
(2) |
|||||||||||
Ameren total |
$ |
261 |
$ |
221 |
$ |
880 |
$ |
918 |
|||||||
December 31, |
December 31, | ||||||||||||||
Common Stock: |
|||||||||||||||
Shares outstanding (in millions) |
242.6 |
242.6 |
|||||||||||||
Book value per share |
$ |
29.28 |
$ |
28.63 |
|||||||||||
SOURCE Ameren Corporation