AMEREN CORP

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

AEE$114.02+1.0%Stored close · as of Nov 9, 2026

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Contents

Union Electric

CONSOLIDATED STATEMENT OF INCOME

	Year Ended December 31,
	2023	2022	2021
Operating Revenues:
Electric	$3,694	$3,849	$3,212
Natural gas	165	197	141
Total operating revenues	3,859	4,046	3,353
Operating Expenses:
Fuel	514	473	581
Purchased power	483	677	227
Natural gas purchased for resale	79	104	60
Other operations and maintenance	1,003	1,028	948
Depreciation and amortization	783	732	632
Taxes other than income taxes	360	363	343
Total operating expenses	3,222	3,377	2,791
Operating Income	637	669	562
Other Income, Net	130	99	99
Interest Charges	227	213	137
Income Before Income Taxes	540	555	524
Income Taxes (Benefit)	(8)	(10)	3
Net Income	548	565	521
Preferred Stock Dividends	3	3	3
Net Income Attributable to Ameren Common Shareholders	$545	$562	$518

CONSOLIDATED BALANCE SHEET

	December 31,
	2023	2022
ASSETS
Current Assets:
Cash and cash equivalents	$—	$—
Accounts receivable – trade (less allowance for doubtful accounts of $12 and $13, respectively)	204	244
Accounts receivable – affiliates	72	51
Unbilled revenue	163	184
Miscellaneous accounts receivable	26	18
Inventories	508	434
Current regulatory assets	101	254
Investments in industrial development revenue bonds	—	240
Current collateral assets	5	101
Other current assets	63	66
Total current assets	1,142	1,592
Property, Plant, and Equipment, Net	17,250	16,124
Investments and Other Assets:
Nuclear decommissioning trust fund	1,150	958
Regulatory assets	755	594
Pension and other postretirement benefits	157	98
Other assets	152	140
Total investments and other assets	2,214	1,790
TOTAL ASSETS	$20,606	$19,506
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$350	$240
Short-term debt	170	329
Borrowings from money pool	306	—
Accounts and wages payable	618	606
Accounts payable – affiliates	53	43
Other current liabilities	250	352
Total current liabilities	1,747	1,570
Long-term Debt, Net	5,991	5,846
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and investment tax credits, net	2,122	1,982
Regulatory liabilities	2,959	2,871
Asset retirement obligations	768	759
Other deferred credits and liabilities	56	51
Total deferred credits and other liabilities	5,905	5,663
Commitments and Contingencies (Notes 2, 9, 13, and 14)
Shareholders’ Equity:
Common stock, $5 par value, 150.0 shares authorized – 102.1 shares outstanding	511	511
Other paid-in capital, principally premium on common stock	2,725	2,725
Preferred stock	80	80
Retained earnings	3,647	3,111
Total shareholders’ equity	6,963	6,427
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$20,606	$19,506

CONSOLIDATED STATEMENT OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Cash Flows From Operating Activities:
Net income	$548	$565	$521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	827	816	704
Amortization of nuclear fuel	68	65	58
Amortization of debt issuance costs and premium/discounts	7	7	6
Deferred income taxes and investment tax credits, net	28	21	3
Allowance for equity funds used during construction	(30)	(24)	(26)
Other	(8)	14	19
Changes in assets and liabilities:
Receivables	39	(68)	(60)
Inventories	(74)	(15)	(32)
Accounts and wages payable	(8)	19	28
Taxes accrued	(17)	(21)	(27)
Regulatory assets and liabilities	(7)	(206)	(207)
Assets, other	(25)	1	28
Liabilities, other	3	7	(29)
Pension and other postretirement benefits	(106)	(16)	(2)
Counterparty collateral, net	96	(35)	(55)
Net cash provided by operating activities	1,341	1,130	929
Cash Flows From Investing Activities:
Capital expenditures	(1,760)	(1,690)	(2,015)
Nuclear fuel expenditures	(174)	(29)	(44)
Purchases of securities – nuclear decommissioning trust fund	(266)	(229)	(452)
Sales and maturities of securities – nuclear decommissioning trust fund	240	216	439
Money pool advances, net	—	—	139
Other	—	29	11
Net cash used in investing activities	(1,960)	(1,703)	(1,922)
Cash Flows From Financing Activities:
Dividends on common stock	(9)	(46)	(24)
Dividends on preferred stock	(3)	(3)	(3)
Short-term debt, net	(159)	164	165
Money pool borrowings, net	306	—	—
Maturities of long-term debt	—	(55)	(8)
Issuances of long-term debt	499	524	524
Debt issuance costs	(8)	(6)	(5)
Capital contribution from parent	—	—	207
Other	(10)	—	—
Net cash provided by financing activities	616	578	856
Net change in cash, cash equivalents, and restricted cash	(3)	5	(137)
Cash, cash equivalents, and restricted cash at beginning of year	13	8	145
Cash, cash equivalents, and restricted cash at end of year	$10	$13	$8
Cash Paid (Refunded) During the Year:
Interest (net of $27, $13, and $10 capitalized, respectively)	$225	$230	$205
Income taxes, net (includes production tax credit sale proceeds of $49, $—, and $—, respectively)	(19)	(20)	19

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY

	December 31,
	2023	2022	2021
Common Stock	$511	$511	$511
Other Paid-in Capital:
Beginning of year	2,725	2,725	2,518
Capital contribution from parent	—	—	207
Other paid-in capital, end of year	2,725	2,725	2,725
Preferred Stock	80	80	80
Retained Earnings:
Beginning of year	3,111	2,595	2,101
Net income	548	565	521
Dividends on common stock	(9)	(46)	(24)
Dividends on preferred stock	(3)	(3)	(3)
Retained earnings, end of year	3,647	3,111	2,595
Total Shareholders’ Equity	$6,963	$6,427	$5,911

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