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Ameren Announces Second Quarter 2021 Results

08/05/2021
- Second Quarter Diluted Earnings Per Share were $0.80 in 2021 vs. $0.98 in 2020
- Guidance Range for 2021 Reaffirmed at $3.65 to $3.85 per Diluted Share

ST. LOUIS, Aug. 5, 2021 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) today announced second quarter 2021 net income attributable to common shareholders of $207 million, or $0.80 per diluted share, compared to second quarter 2020 net income attributable to common shareholders of $243 million, or $0.98 per diluted share.

Second quarter 2021 results reflected earnings on increased infrastructure investments made across all business segments driven by solid execution of the company's strategy. Earnings were lower at Ameren Missouri due to a change in seasonal electric rate design effective in 2021 as a result of the March 2020 rate order, which is not expected to impact full year results. Earnings were lower at Ameren Transmission driven by the absence of the benefit from the May 2020 Federal Energy Regulatory Commission (FERC) order addressing the Midcontinent Independent System Operator (MISO) allowed base return on equity. These factors were partially offset by higher Ameren Missouri electric retail sales as the economy continues to recover from the impacts of COVID-19. Earnings were also positively impacted by a higher allowed return on equity at Ameren Illinois Electric Distribution due to a higher projected average 30-year U.S. Treasury bond yield in 2021 compared to 2020. Finally, 2021 earnings per share reflected higher weighted-average basic common shares outstanding.

"We continue to execute on all elements of our strategy, including significant investments in energy infrastructure and disciplined cost management across all of our business segments. We remain on track to deliver within our 2021 earnings per share guidance range of $3.65 to $3.85." said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "Looking ahead, we remain focused on continuing to deliver significant long-term value to all stakeholders under all elements of our strong sustainability value proposition, which includes delivering safe, reliable and affordable electric and natural gas services to our customers and executing our plan to transition to a cleaner energy future in a responsible fashion. I am pleased to report that our 300 MW megawatt wind generation facility in northwest Missouri, as well as our carbon-free Callaway Energy Center, are now in-service."

Ameren recorded net income attributable to common shareholders for the six months ended June 30, 2021, of $440 million, or $1.71 per diluted share, compared to net income attributable to common shareholders for the six months ended June 30, 2020, of $389 million, or $1.57 per diluted share.

The increase in year-over-year six month earnings reflected increased infrastructure investments made across all business segments driven by solid execution of the company's strategy. Ameren Illinois Natural Gas earnings increased due to higher delivery service rates effective in late January 2021 and a change in rate design, which is not expected to impact full-year results. Earnings were also positively impacted by a higher allowed return on equity at Ameren Illinois Electric Distribution due to a higher projected 30-year U.S. Treasury bond yield in 2021 compared to 2020. Increased earnings at Ameren Missouri were driven by new electric service rates effective April 1, 2020, and higher electric retail sales as the economy continues to recover from the impacts of COVID-19. Earnings also benefited at Ameren Missouri from lower other operations and maintenance expenses, primarily driven by disciplined cost management. These positive factors were partially offset by a change in rate design in Ameren Missouri electric service rates, which is not expected to impact full year results, and the amortization of deferred expenses related to the fall 2020 Callaway refueling and maintenance outage. Earnings were lower at Ameren Transmission driven by the absence of the benefit from the May 2020 FERC order addressing the MISO allowed base return on equity and a March 2021 FERC order addressing the historical recovery of materials and supplies inventories. Finally, 2021 earnings per share reflected higher weighted-average basic common shares outstanding.

Earnings Guidance

Today, Ameren reaffirmed its 2021 earnings guidance range of $3.65 to $3.85 per diluted share. Earnings guidance for 2021 assumes normal temperatures for the last six months of the year and is subject to the effects of, among other things: the impacts of COVID-19; 30-year U.S. Treasury bond yields; regulatory, judicial and legislative actions; energy center and energy distribution operations; energy, economic and capital 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 Missouri Segment Results

Ameren Missouri second quarter 2021 earnings were $111 million, compared to second quarter 2020 earnings of $152 million. The year-over-year comparison reflected a change in seasonal rate design, which decreased earnings by approximately $45 million. The change in rate design became effective in 2021 as a result of the March 2020 electric rate order and is not expected to impact full-year results. Earnings also reflected the timing of income tax expense, which decreased earnings by $8 million and is not expected to impact full-year results. Earnings also decreased due to higher other operations and maintenance expenses, primarily due to more favorable market returns on the cash surrender value of company-owned life insurance in the year-ago period, as well as the amortization of deferred expenses related to the fall 2020 Callaway refueling and maintenance outage. Higher interest expense primarily due to higher long-term debt balances also decreased earnings. These factors were partially offset by increased earnings on infrastructure and wind generation investments and higher electric retail sales as the economy continues to recover from the impacts of COVID-19.

Ameren Illinois Electric Distribution Segment Results

Ameren Illinois Electric Distribution second quarter 2021 earnings were $41 million, compared to second quarter 2020 earnings of $36 million. The year-over-year improvement reflected increased earnings on infrastructure investments and a higher allowed return on equity due to a higher projected average 30-year U.S. Treasury bond yield in 2021 compared to 2020.

Ameren Illinois Natural Gas Segment Results

Ameren Illinois Natural Gas second quarter 2021 earnings were $8 million, compared to second quarter 2020 earnings of $9 million. The year-over-year comparison reflected a change in rate design, which decreased earnings by $3 million and is not expected to impact full-year results. The impact of the change in rate design was offset by higher delivery service rates that incorporated increased investments in infrastructure. Both the change in rate design and rate increase became effective in late January 2021.

Ameren Transmission Segment Results

Ameren Transmission second quarter 2021 earnings were $55 million, compared to second quarter 2020 earnings of $59 million. The year-over-year comparison reflected the absence of the benefit from the May 2020 FERC order addressing the MISO allowed base return on equity that more than offset increased earnings on infrastructure investments.

Ameren Parent Results (includes items not reported in a business segment)

Ameren Parent results for the second quarter of 2021 reflected a loss of $8 million, compared to a second quarter 2020 loss of $13 million. The year-over-year improvement reflected the timing of income tax expense, which increased earnings by $4 million and is not expected to impact full-year results.

Analyst Conference Call

Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Friday, August 6, to discuss 2021 earnings, earnings guidance and other matters. Investors, the news media and the public may listen to a live broadcast of the call at AmerenInvestors.com by clicking on "Webcast" under "Q2 2021 Earnings Conference Call," where an accompanying slide presentation will also be available. The conference call and presentation will be archived for one year in the "Investor News & 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 transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator, Inc. For more information, visit Ameren.com, or follow us on Twitter at @AmerenCorp, Facebook.com/AmerenCorp, or LinkedIn/company/Ameren.

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, projections, strategies, targets, estimates, 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 under Risk Factors in Ameren's Annual Report on Form 10-K for the year ended December 31, 2020, 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:

  • 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 Ameren Missouri's electric service and natural gas delivery service regulatory rate reviews filed with the Missouri Public Service Commission (MoPSC) in March 2021, the July 2020 appeal filed by Ameren Missouri, Ameren Illinois, and Ameren Transmission Company of Illinois (ATXI) challenging the refund period related to the May 2020 Federal Energy Regulatory Commission (FERC) order determining the allowed base return on common equity (ROE) under the Midcontinent Independent System Operator (MISO) tariff, the July 2020 appeal filed by Ameren Missouri, Ameren Illinois, and ATXI challenging the FERC's rehearing denials in the transmission formula rate revision cases, Ameren Illinois' electric distribution service rate reconciliation request filed with the Illinois Commerce Commission (ICC) in April 2021, and Ameren Illinois' annual electric energy-efficiency formula rate update filed with the ICC in May 2021;
  • the length and severity of the COVID-19 pandemic, and its impacts on our business continuity plans and our results of operations, financial position, and liquidity, including but not limited to changes in customer demand resulting in changes to sales volumes, customers' payment for our services and their use of deferred payment arrangements, future regulatory or legislative actions that could require suspension of customer disconnections and/or late fees, among other things, for an extended period of time, the health and welfare of our workforce and contractors, supplier disruptions, delays in the completion of construction projects, which could impact our expected capital expenditures and rate base growth, Ameren Missouri's ability to recover any forgone customer late fee revenues or incremental costs, our ability to meet customer energy-efficiency program goals and earn performance incentives related to those programs, changes in how we operate our business and increased data security risks as a result of the transition to remote working arrangements for a significant portion of our workforce, and our ability to access the capital markets on reasonable terms and when needed;
  • the effect and duration of Ameren Illinois' election to opt in to the performance-based formula ratemaking framework for its electric distribution service, which, unless extended, could establish annual customer rates effective through 2023 and allow for a reconciliation of Ameren Illinois' revenue requirement for up to two annual periods in which customer rates had been established, but not reconciled, under the performance-based formula ratemaking framework and its participation in electric energy-efficiency programs, including the direct relationship between Ameren Illinois' ROE and the 30-year United States Treasury bond yields;
  • the effect on Ameren Missouri of any customer rate caps pursuant to Ameren Missouri's election to use the plant-in-service accounting (PISA), including an extension of use beyond 2023, if requested by Ameren Missouri and approved by the MoPSC;
  • the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies;
  • the effects of changes in federal, state, or local tax laws, regulations, interpretations, or rates, and challenges to the tax positions we have taken, if any, as well as resulting effects on customer rates;
  • the effects on energy prices and demand for our services resulting from technological advances, including advances in customer energy efficiency, electric vehicles, electrification of various industries, energy storage, and private generation sources, which generate electricity at the site of consumption and are becoming more cost-competitive;
  • the effectiveness of Ameren Missouri's customer energy-efficiency programs and the related revenues and performance incentives earned under its Missouri Energy Efficiency Investment Act (MEEIA) programs;
  • Ameren Illinois' ability to achieve the performance standards applicable to its electric distribution business and the Future Energy Jobs Act electric customer energy-efficiency goals and the resulting impact on its allowed ROE;
  • our ability to control costs and make substantial investments in our businesses, including our ability to recover costs, investments, and our allowed ROEs within frameworks established by our regulators, while maintaining affordability of our services for our customers;
  • the cost and availability of fuel, such as low-sulfur coal, natural gas, and enriched uranium used to produce electricity; the cost and availability of purchased power, zero emission credits, renewable energy credits, emission allowances, and natural gas for distribution; and the level and volatility of future market prices for such commodities and credits;
  • disruptions in the delivery of fuel, failure of our fuel suppliers to provide adequate quantities or quality of fuel, or lack of adequate inventories of fuel, including nuclear fuel assemblies from the one Nuclear Regulatory Commission-licensed supplier of Ameren Missouri's Callaway Energy Center assemblies;
  • the cost and availability of transmission capacity for the energy generated by Ameren Missouri's energy centers or required to satisfy Ameren Missouri's energy sales;
  • the effectiveness of our risk management strategies and our use of financial and derivative instruments;
  • the ability to obtain sufficient insurance, including insurance for Ameren Missouri's nuclear and coal-fired energy centers, or, in the absence of insurance, the ability to timely recover uninsured losses from our customers;
  • the impact of cyberattacks on us or our suppliers, which could, among other things, result in the loss of operational control of energy centers and electric and natural gas transmission and distribution systems and/or the loss of data, such as customer, employee, financial, and operating system information;
  • business and economic conditions, which have been affected by, and will be affected by the length and severity of, the COVID-19 pandemic, including the impact of such conditions on interest rates;
  • disruptions of the capital markets, deterioration in our credit metrics, or other events that may have an adverse effect on the cost or availability of capital, including short-term credit and liquidity;
  • the actions of credit rating agencies and the effects of such actions, including any impacts on our credit ratings that may result from the economic conditions of the COVID-19 pandemic;
  • the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments, including as it relates to the construction and acquisition of electric and natural gas utility infrastructure and the ability of counterparties to complete projects which is dependent upon the availability of necessary materials and equipment, including those that are affected by disruptions in the global supply chain caused by the COVID-19 pandemic;
  • the impact of weather conditions and other natural phenomena on us and our customers, including the impact of system outages and the level of wind and solar resources;
  • the construction, installation, performance, and cost recovery of generation, transmission, and distribution assets;
  • the effects of failures of electric generation, electric and natural gas transmission or distribution, or natural gas storage facilities systems and equipment, which could result in unanticipated liabilities or unplanned outages;
  • the operation of Ameren Missouri's Callaway Energy Center, including planned and unplanned outages, as well as the ability to recover costs associated with such outages and the impact of such outages on off-system sales and purchased power, among other things;
  • Ameren Missouri's ability to recover the remaining investment and decommissioning costs associated with the retirement of an energy center, as well as the ability to earn a return on that remaining investment and those decommissioning costs;
  • the impact of current environmental laws and new, more stringent, or changing requirements, including those related to the New Source Review and carbon dioxide, other emissions and discharges, cooling water intake structures, coal combustion residuals, energy efficiency, and wildlife protection, that could limit or terminate the operation of certain of Ameren Missouri's energy centers, increase our operating costs or investment requirements, result in an impairment of our assets, cause us to sell our assets, reduce our customers' demand for electricity or natural gas, or otherwise have a negative financial effect;
  • the impact of complying with renewable energy standards in Missouri and Illinois and with the zero emission standard in Illinois;
  • Ameren Missouri's ability to construct and/or acquire wind, solar, and other renewable energy generation facilities, retire energy centers, and implement new or existing customer energy efficiency programs, including any such construction, acquisition, retirement, or implementation in connection with its Smart Energy Plan, the 2020 Integrated Resource Plan, or our emissions reduction goals, and to recover its cost of investment, related return, and, in the case of customer energy-efficiency programs, any lost margins in a timely manner, which is affected by the ability to obtain all necessary regulatory and project approvals, including certificates of convenience and necessity from the MoPSC or any other required approvals for the addition of renewable resources;
  • the availability of federal production and investment tax credits related to renewable energy and Ameren Missouri's ability to use such credits; the cost of wind, solar, and other renewable generation and storage technologies; and our ability to obtain timely interconnection agreements with the MISO or other regional transmission organizations at an acceptable cost for each facility;
  • advancements in carbon-free generation and storage technologies, and constructive federal and state energy and economic policies with respect to those technologies;
  • labor disputes, work force reductions, changes in future wage and employee benefits costs, including those resulting from changes in discount rates, mortality tables, returns on benefit plan assets, and other assumptions;
  • the impact of negative opinions of us or our utility services that our customers, investors, legislators, or regulators may have or develop, which could result from a variety of factors, including failures in system reliability, failure to implement our investment plans or to protect sensitive customer information, increases in rates, negative media coverage, or concerns about environmental, social, and/or governance practices;
  • the impact of adopting new accounting guidance;
  • the effects of strategic initiatives, including mergers, acquisitions, and divestitures;
  • legal and administrative proceedings; and
  • acts of sabotage, war, terrorism, or other intentionally disruptive acts.

New factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any 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)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)



Three Months Ended June 30,


Six Months Ended June 30,


2021


2020


2021


2020

Operating Revenues:








Electric

$

1,284



$

1,237



$

2,440



$

2,357


Natural gas

188



161



598



481


Total operating revenues

1,472



1,398



3,038



2,838


Operating Expenses:








Fuel

173



119



238



259


Purchased power

129



109



320



243


Natural gas purchased for resale

65



42



230



149


Other operations and maintenance

412



384



832



822


Depreciation and amortization

285



271



566



526


Taxes other than income taxes

122



119



250



244


Total operating expenses

1,186



1,044



2,436



2,243


Operating Income

286



354



602



595


Other Income, Net

49



48



95



69


Interest Charges

96



108



196



201


Income Before Income Taxes

239



294



501



463


Income Taxes

31



50



58



71


Net Income

208



244



443



392


Less: Net Income Attributable to Noncontrolling Interests

1



1



3



3


Net Income Attributable to Ameren Common Shareholders

$

207



$

243



$

440



$

389










Earnings per Common Share – Basic

$

0.81



$

0.99



$

1.72



$

1.58










Earnings per Common Share – Diluted

$

0.80



$

0.98



$

1.71



$

1.57










Weighted-average Common Shares Outstanding – Basic

256.1



246.9



255.2



246.7


Weighted-average Common Shares Outstanding – Diluted

257.2



247.9



256.5



248.0



 

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)



June 30,
2021


December 31,
2020

ASSETS




Current Assets:




Cash and cash equivalents

$

99



$

139


Accounts receivable - trade (less allowance for doubtful accounts)

397



415


Unbilled revenue

339



269


Miscellaneous accounts receivable

105



65


Inventories

527



521


Restricted cash

131



17


Current regulatory assets

353



109


Other current assets

165



118


Total current assets

2,116



1,653


Property, Plant, and Equipment, Net

28,020



26,807


Investments and Other Assets:




Nuclear decommissioning trust fund

1,070



982


Goodwill

411



411


Regulatory assets

1,272



1,100


Other assets

1,027



1,077


Total investments and other assets

3,780



3,570


                             TOTAL ASSETS

$

33,916



$

32,030


                  LIABILITIES AND EQUITY




Current Liabilities:




Current maturities of long-term debt

$

8



$

8


Short-term debt

431



490


Accounts and wages payable

779



958


Taxes accrued

178



82


Interest accrued

129



114


Current regulatory liabilities

238



121


Other current liabilities

414



407


Total current liabilities

2,177



2,180


Long-term Debt, Net

12,492



11,078


Deferred Credits and Other Liabilities:




Accumulated deferred income taxes and tax credits, net

3,309



3,211


Regulatory liabilities

5,258



5,282


Asset retirement obligations

712



696


Pension and other postretirement benefits

39



37


Other deferred credits and liabilities

447



466


Total deferred credits and other liabilities

9,765



9,692


Ameren Corporation Shareholders' Equity:




Common stock

3



3


Other paid-in capital, principally premium on common stock

6,436



6,179


Retained earnings

2,915



2,757


Accumulated other comprehensive loss

(1)



(1)


Total Ameren Corporation shareholders' equity

9,353



8,938


Noncontrolling Interests

129



142


Total equity

9,482



9,080


TOTAL LIABILITIES AND EQUITY

$

33,916



$

32,030


 

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)



Six Months Ended June 30,


2021


2020

Cash Flows From Operating Activities:




Net income

$

443



$

392


Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization

596



532


Amortization of nuclear fuel

20



45


Amortization of debt issuance costs and premium/discounts

11



11


Deferred income taxes and investment tax credits, net

59



68


Allowance for equity funds used during construction

(16)



(13)


Stock-based compensation costs

11



11


Other

2



5


Changes in assets and liabilities

(690)



(357)


Net cash provided by operating activities

436



694


Cash Flows From Investing Activities:




Capital expenditures

(1,346)



(1,228)


Wind generation expenditures

(417)




Nuclear fuel expenditures

(4)



(56)


Purchases of securities – nuclear decommissioning trust fund

(203)



(153)


Sales and maturities of securities – nuclear decommissioning trust fund

208



121


Other

2



1


Net cash used in investing activities

(1,760)



(1,315)


Cash Flows From Financing Activities:




Dividends on common stock

(282)



(244)


Dividends paid to noncontrolling interest holders

(3)



(3)


Short-term debt, net

(59)



(320)


Maturities of long-term debt



(85)


Issuances of long-term debt

1,423



1,263


Issuances of common stock

258



27


Redemptions of Ameren Illinois preferred stock

(13)




Employee payroll taxes related to stock-based compensation

(17)



(20)


Debt issuance costs

(13)



(10)


Other

(4)




Net cash provided by financing activities

1,290



608


Net change in cash, cash equivalents, and restricted cash

(34)



(13)


Cash, cash equivalents, and restricted cash at beginning of year

301



176


Cash, cash equivalents, and restricted cash at end of period

$

267



$

163


 

AMEREN CORPORATION (AEE)
OPERATING STATISTICS



Three Months Ended


Six Months Ended


June 30,


June 30,


2021


2020


2021


2020

Electric Sales - kilowatthours (in millions):








Ameren Missouri








Residential

2,851



2,994



6,681



6,542


Commercial

3,269



3,020



6,594



6,372


Industrial

1,044



981



2,018



1,972


Street lighting and public authority

18



19



40



44


Ameren Missouri retail load subtotal

7,182



7,014



15,333



14,930


Off-system

1,512



2,172



2,403



4,441


Ameren Missouri total

8,694



9,186



17,736



19,371


Ameren Illinois Electric Distribution








Residential

2,547



2,622



5,610



5,508


Commercial

2,760



2,563



5,604



5,419


Industrial

2,782



2,598



5,407



5,292


Street lighting and public authority

99



109



221



229


Ameren Illinois Electric Distribution total

8,188



7,892



16,842



16,448


Eliminate affiliate sales

(103)



(111)



(144)



(181)


Ameren Total

16,779



16,967



34,434



35,638


Electric Revenues (in millions):








Ameren Missouri








Residential

$

328



$

359



$

640



$

656


Commercial

271



264



487



485


Industrial

71



67



123



120


Other, including street lighting and public authority

85



36



123



48


Ameren Missouri retail load subtotal

$

755



$

726



$

1,373



$

1,309


Off-system

34



45



57



93


Ameren Missouri total

$

789



$

771



$

1,430



$

1,402


Ameren Illinois Electric Distribution








Residential

$

218



$

210



$

447



$

430


Commercial

127



112



259



238


Industrial

34



30



68



65


Other, including street lighting and public authority

9





25



9


Ameren Illinois Electric Distribution total

$

388



$

352



$

799



$

742


Ameren Transmission








Ameren Illinois Transmission(a)

$

88



$

86



$

169



$

161


       ATXI

48



50



97



98


Ameren Transmission total

$

136



$

136



$

266



$

259


Other and intersegment eliminations(a)

(29)



(22)



(55)



(46)


Ameren Total

$

1,284



$

1,237



$

2,440



$

2,357




(a) 

Includes $15 million, $12 million, $31 million, and $24 million, respectively, of electric operating revenues from transmission services provided to the Ameren Illinois Electric Distribution segment.

 

AMEREN CORPORATION (AEE)
OPERATING STATISTICS



Three Months Ended


Six Months Ended


June 30,


June 30,


2021


2020


2021


2020

Gas Sales - dekatherms (in millions):








Ameren Missouri

4



4



13



12


Ameren Illinois Natural Gas

31



31



99



95


Ameren Total

35



35



112



107


Gas Revenues (in millions):







Ameren Missouri

$

20



$

21



$

83



$

70


Ameren Illinois Natural Gas

168



140



515



411


Ameren Total

$

188



$

161



$

598



$

481





June 30,




December 31,




2021




2020

Common Stock:








Shares outstanding (in millions)



257.1





253.3


Book value per share



$

36.38





$

35.29


 

 

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SOURCE Ameren Corporation