AMEREN CORP

Listed Company

AEECIK 0001002910NYSELarge AcceleratedElectric & Other Services CombinedMissouriFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$1.46B

Total Assets

$48.48B

Equity

$13.40B

Shares Out

276.42M

Op. Cash Flow

$3.35B

Business

AMEREN CORP is a public utility holding company that holds equity interests in subsidiaries that operate regulated electric generation, transmission and distribution, and natural gas distribution businesses. It offers regulated electric and natural gas supply and delivery, FERC‑rate transmission services, renewable and conventional generation, energy‑efficiency and demand response programs, and transmission project development and shared services. Its principal reporting segments are Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission (including ATXI). The company serves retail and wholesale customers primarily in Missouri and Illinois and participates in MISO and FERC regulatory and market frameworks.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenues	8,799	7,623	7,500	7,957	6,394
Utilities Operating Expense, Fuel Used and Purchased Power	2,306	1,681	1,812	2,020	—
Natural gas purchased for resale	348	320	355	657	442
Other operations and maintenance	1,974	1,969	1,866	1,937	1,774
Depreciation and amortization	1,568	1,590	1,387	1,289	1,146
Taxes other than income taxes	577	547	522	539	512
Total operating expenses	6,773	6,107	5,942	6,442	5,061
Operating Income	2,026	1,516	1,558	1,515	1,333
Other Income, Net	347	417	348	226	202
Interest Charges	776	663	566	486	383
Income Before Income Taxes	1,597	1,270	1,340	1,255	1,152
Income Taxes	136	83	183	176	157
Net Income	1,461	1,187	1,157	1,079	995
Less: Net Income Attributable to Noncontrolling Interests	5	5	5	5	5
Net Income Attributable to Ameren Common Shareholders	1,456	1,182	1,152	1,074	990
Pension and other postretirement benefit plan activity, net of income taxes (benefit) of $1, $, and $(2), respectively	3	−3	−5	−14	14
Unrealized net gain on derivative hedging instruments, net of income taxes of $2, $, and $, respectively	3	3	0	0	—
Comprehensive Income	1,467	1,187	1,152	1,065	1,009
Less: Comprehensive Income Attributable to Noncontrolling Interests	5	5	5	5	5
Comprehensive Income Attributable to Ameren Common Shareholders	1,462	1,182	1,147	1,060	1,004
Preferred Stock Dividends	5	5	5	5	—
Earnings per Common Share Basic	5.38	4.43	4.39	4.16	3.86
Earnings per Common Share Diluted	5.35	4.42	4.38	4.14	3.84
Weighted-average Common Shares Outstanding Basic	271	267	263	258	256
Weighted-average Common Shares Outstanding Diluted	272	267	263	260	258

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	13	7	25	10	8
Accounts receivable - trade (less allowance for doubtful accounts)	665	525	494	600	434
Unbilled revenue	415	346	319	446	301
Miscellaneous accounts receivable	107	96	106	54	85
Inventories	774	762	733	667	592
Current regulatory assets	387	366	365	354	319
Other current assets	210	162	139	155	155
Total current assets	2,571	2,264	2,181	2,668	1,968
Property, Plant, and Equipment, Net	39,313	36,304	33,776	31,262	29,261
Nuclear decommissioning trust fund	1,526	1,342	1,150	958	1,159
Goodwill	411	411	411	411	411
Regulatory Asset, Noncurrent	2,524	2,397	1,810	1,426	1,289
Pension and other postretirement benefits	977	757	581	411	756
Other assets	1,154	1,123	921	768	891
Total investments and other assets	6,592	6,030	4,873	3,974	4,506
TOTAL ASSETS	48,476	44,598	40,830	37,904	35,735
Long-Term Debt, Current Maturities	973	317	849	340	505
Short-term debt	643	1,143	536	1,070	545
Accounts and wages payable	1,254	1,059	1,136	1,159	1,095
Interest accrued	229	196	147	—	123
Customer deposits	238	223	176	115	—
Other current liabilities	570	475	501	682	681
Total current liabilities	3,907	3,413	3,345	3,366	2,826
Long-Term Debt, Excluding Current Maturities	18,214	17,262	15,121	13,685	12,562
Accumulated deferred income taxes and production and investment tax credits, net	5,181	4,474	4,176	3,804	3,499
Regulatory liabilities	6,255	5,897	5,512	5,309	5,848
Asset retirement obligations	849	822	772	763	757
Other deferred credits and liabilities	540	487	426	340	414
Total deferred credits and other liabilities	12,825	11,680	10,886	10,216	10,518
Commitments and Contingencies (Notes 2, 9, and 14)	—	—	—	—	—
Common stock	3	3	3	3	3
Other paid-in capital, principally premium on common stock	8,106	7,513	7,216	6,860	6,502
Retained earnings	5,292	4,604	4,136	3,646	3,182
Accumulated other comprehensive loss	0	−6	−6	−1	13
Total shareholders' equity	13,401	12,114	11,349	10,508	9,700
Noncontrolling Interests	129	129	129	129	129
Total equity	13,530	12,243	11,478	10,637	9,829
TOTAL LIABILITIES AND EQUITY	48,476	44,598	40,830	37,904	35,735

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,612	1,524	1,432	1,373	1,219
Amortization of nuclear fuel	56	81	68	65	—
Amortization of debt issuance costs and premium/discounts	19	19	16	21	23
Deferred income taxes and production and investment tax credits, net	253	127	229	170	156
Allowance for equity funds used during construction	88	76	54	43	−43
Stock-based compensation costs	28	28	26	24	22
Other	63	87	16	68	19
Receivables	−272	−91	144	−317	−74
Inventories	−12	−31	−67	−77	−71
Accounts and wages payable	42	4	−104	136	28
Taxes accrued	190	34	−4	−13	1
Regulatory assets and liabilities	65	99	−165	−72	−439
Assets, other	−36	−34	−109	−74	−71
Liabilities, other	104	22	115	52	−75
Pension and other postretirement benefits	−152	−216	−283	−65	−33
Counterparty collateral, net	20	−1	147	−64	−54
Net cash provided by operating activities	3,353	2,763	2,564	2,263	1,661
Capital expenditures	−4,128	−4,319	−3,597	−3,351	−3,479
Nuclear fuel expenditures	−46	−91	−174	−29	−44
Purchases of securities nuclear decommissioning trust fund	−440	−584	−266	−229	—
Proceeds from sales and maturities	416	564	240	216	439
Other	53	−26	−1	23	8
Net cash used in investing activities	−4,145	−4,456	−3,798	−3,370	−3,528
Dividends on common stock	−768	−714	−662	−610	−565
Dividends paid to noncontrolling interest holders	−5	−5	−5	−5	−5
Short-term debt, net	−499	607	−533	522	55
Maturities and extinguishment of long-term debt	−341	−893	−100	−505	−8
Issuances of long-term debt	1,960	2,535	2,295	1,467	1,997
Issuances of common stock	574	273	346	333	308
Employee payroll taxes related to stock-based compensation	−13	−8	−20	−16	−17
Debt issuance costs	−24	−31	−21	−18	−18
Other	0	−15	−10	0	−13
Net cash provided by financing activities	884	1,749	1,290	1,168	1,721
Net change in cash, cash equivalents, and restricted cash	92	56	56	61	−146
Interest (net of amounts capitalized, respectively)	755	611	546	476	426
Income Taxes Paid, Net	−312	−92	−24	−8	−1

Filings

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