AMEREN CORP PP&E Disclosure
Ameren Missouri(a) | Ameren Illinois | Other | Ameren(a) | |||||||||||||
2016 | ||||||||||||||||
Property, plant, and equipment at original cost:(b) | ||||||||||||||||
Electric generation | $ | 10,911 | $ | — | $ | — | $ | 10,911 | ||||||||
Electric distribution | 5,563 | 5,287 | — | 10,850 | ||||||||||||
Electric transmission | 1,151 | 2,016 | 712 | 3,879 | ||||||||||||
Natural gas | 455 | 2,186 | — | 2,641 | ||||||||||||
Other(c) | 879 | 719 | 239 | 1,837 | ||||||||||||
18,959 | 10,208 | 951 | 30,118 | |||||||||||||
Less: Accumulated depreciation and amortization | 7,880 | 2,850 | 231 | 10,961 | ||||||||||||
11,079 | 7,358 | 720 | 19,157 | |||||||||||||
Construction work in progress: | ||||||||||||||||
Nuclear fuel in process | 206 | — | — | 206 | ||||||||||||
Other | 193 | 111 | 446 | 750 | ||||||||||||
Property and plant, net | $ | 11,478 | $ | 7,469 | $ | 1,166 | $ | 20,113 | ||||||||
2015 | ||||||||||||||||
Property, plant, and equipment at original cost:(b) | ||||||||||||||||
Electric generation | $ | 10,431 | $ | — | $ | — | $ | 10,431 | ||||||||
Electric distribution | 5,303 | 4,952 | — | 10,255 | ||||||||||||
Electric transmission | 979 | 1,674 | 121 | 2,774 | ||||||||||||
Natural gas | 445 | 1,997 | — | 2,442 | ||||||||||||
Other(c) | 808 | 627 | 266 | 1,701 | ||||||||||||
17,966 | 9,250 | 387 | 27,603 | |||||||||||||
Less: Accumulated depreciation and amortization | 7,460 | 2,632 | 255 | 10,347 | ||||||||||||
10,506 | 6,618 | 132 | 17,256 | |||||||||||||
Construction work in progress: | ||||||||||||||||
Nuclear fuel in process | 275 | — | — | 275 | ||||||||||||
Other | 402 | 230 | 636 | 1,268 | ||||||||||||
Property, plant, and equipment, net | $ | 11,183 | $ | 6,848 | $ | 768 | $ | 18,799 | ||||||||
(a) | Amounts in Ameren and Ameren Missouri include two CTs under separate capital lease agreements. The gross cumulative asset value of those agreements was $232 million and $233 million at December 31, 2016 and 2015, respectively. The total accumulated depreciation associated with the two CTs was $77 million and $72 million at December 31, 2016 and 2015, respectively. In addition, Ameren Missouri has investments in debt securities, classified as held-to-maturity and recorded in "Other assets" that are related to the two CTs from the city of Bowling Green and Audrain County. As of December 31, 2016 and 2015, the carrying value of these debt securities was $282 million and $288 million, respectively. |
(b) | The estimated lives for each asset group are as follows: 5 to 100 years for electric generation, excluding Ameren Missouri's hydro generating assets which have useful lives of up to 150 years, 18 to 75 years for electric distribution, 50 to 75 years for electric transmission, 20 to 80 years for natural gas, and 5 to 55 years for other. |
(c) | Other property, plant, and equipment includes assets used to support multiple utility services. |
Ameren(a) | Ameren Missouri | Ameren Illinois | |||||||||
Accrued capital expenditures: | |||||||||||
2016 | $ | 251 | $ | 116 | $ | 87 | |||||
2015 | 235 | 85 | 92 | ||||||||
2014 | 181 | 72 | 59 | ||||||||
Accrued nuclear fuel expenditures: | |||||||||||
2016 | 20 | 20 | (b) | ||||||||
2015 | 16 | 16 | (b) | ||||||||
2014 | 13 | 13 | (b) | ||||||||
(a) | Includes amounts for Ameren registrant and nonregistrant subsidiaries. |
(b) | Not applicable. |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2016 | Feb 28, 2017 | Showing above |
| 2015 | Feb 26, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.