2023 Q1 Form 10-K Financial Statement

#000100291023000053 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.062B $2.046B $7.957B
YoY Change 9.74% 32.43% 24.44%
Cost Of Revenue $703.0M $715.0M $2.204B
YoY Change 49.57% 143.2% 110.31%
Gross Profit $1.359B $1.331B $5.753B
YoY Change -3.55% 6.39% 7.61%
Gross Profit Margin 65.91% 65.05% 72.3%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $350.0M $422.0M $1.438B
YoY Change 8.02% 33.54% 17.97%
% of Gross Profit 25.75% 31.71% 25.0%
Operating Expenses $1.711B $1.055B $6.442B
YoY Change 10.53% 0.09% 27.29%
Operating Profit $351.0M $276.0M $1.515B
YoY Change 6.04% 40.1% 13.65%
Interest Expense $127.0M -$130.0M $486.0M
YoY Change 22.12% 51.16% 26.89%
% of Operating Profit 36.18% -47.1% 32.08%
Other Income/Expense, Net $78.00M $46.00M $226.0M
YoY Change 30.0% 4.55% 11.88%
Pretax Income $302.0M $192.0M $1.255B
YoY Change 5.23% 23.87% 8.94%
Income Tax $37.00M $28.00M $176.0M
% Of Pretax Income 12.25% 14.58% 14.02%
Net Earnings $265.0M $163.0M $1.079B
YoY Change 4.74% 30.4% 8.44%
Net Earnings / Revenue 12.85% 7.97% 13.56%
Basic Earnings Per Share $1.01 $4.16
Diluted Earnings Per Share $1.00 $0.63 $4.14
COMMON SHARES
Basic Shares Outstanding 262.0M shares 258.5M shares 258.4M shares
Diluted Shares Outstanding 263.1M shares 259.5M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $250.0M $250.0M
YoY Change 42.86% 3025.0% 3025.0%
Cash & Equivalents $10.00M $10.00M $10.00M
Short-Term Investments $0.00 $240.0M $240.0M
Other Short-Term Assets $115.0M $155.0M $1.097B
YoY Change 38.55% 59.79% 29.21%
Inventory $630.0M $667.0M $667.0M
Prepaid Expenses
Receivables $625.0M $600.0M $600.0M
Other Receivables $62.00M $54.00M $54.00M
Total Short-Term Assets $2.062B $2.668B $2.668B
YoY Change 1.53% 35.57% 35.57%
LONG-TERM ASSETS
Property, Plant & Equipment $31.74B $31.26B $31.26B
YoY Change 7.29% 6.84% 6.84%
Goodwill $411.0M $411.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.016B $958.0M $958.0M
YoY Change -6.7% -17.06% -17.06%
Other Assets $815.0M $768.0M $2.605B
YoY Change -12.74% -13.8% -11.39%
Total Long-Term Assets $36.00B $35.24B $35.24B
YoY Change 5.37% 4.35% 4.35%
TOTAL ASSETS
Total Short-Term Assets $2.062B $2.668B $2.668B
Total Long-Term Assets $36.00B $35.24B $35.24B
Total Assets $38.06B $37.90B $37.90B
YoY Change 5.16% 6.07% 6.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $664.0M $1.159B $1.159B
YoY Change -3.77% 5.84% 5.84%
Accrued Expenses
YoY Change
Deferred Revenue $115.0M
YoY Change
Short-Term Debt $1.248B $1.070B $1.070B
YoY Change 13.35% 96.33% 96.33%
Long-Term Debt Due $100.0M $340.0M $340.0M
YoY Change -80.2% -32.67% -32.67%
Total Short-Term Liabilities $2.757B $3.366B $3.366B
YoY Change -12.34% 19.11% 19.11%
LONG-TERM LIABILITIES
Long-Term Debt $14.18B $13.69B $13.69B
YoY Change 12.88% 8.94% 8.94%
Other Long-Term Liabilities $370.0M $340.0M $6.412B
YoY Change -6.09% -17.87% -8.65%
Total Long-Term Liabilities $14.55B $14.03B $20.10B
YoY Change 12.3% 8.08% 2.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.757B $3.366B $3.366B
Total Long-Term Liabilities $14.55B $14.03B $20.10B
Total Liabilities $17.31B $17.39B $27.40B
YoY Change 7.49% 10.06% 5.23%
SHAREHOLDERS EQUITY
Retained Earnings $3.745B $3.646B
YoY Change 14.11% 14.58%
Common Stock $3.000M $3.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.61B $10.51B $10.51B
YoY Change
Total Liabilities & Shareholders Equity $38.06B $37.90B $37.90B
YoY Change 5.16% 6.07% 6.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $265.0M $163.0M $1.079B
YoY Change 4.74% 30.4% 8.44%
Depreciation, Depletion And Amortization $350.0M $422.0M $1.438B
YoY Change 8.02% 33.54% 17.97%
Cash From Operating Activities $496.0M $664.0M $2.263B
YoY Change 27.84% 41.58% 36.24%
INVESTING ACTIVITIES
Capital Expenditures $931.0M $921.0M $3.351B
YoY Change 20.28% -203.37% 13.44%
Acquisitions
YoY Change
Other Investing Activities $1.000M $9.000M -$23.00M
YoY Change -106.67% 0.0% 187.5%
Cash From Investing Activities -$964.0M -$912.0M -$3.370B
YoY Change 23.59% 3.4% -4.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $333.0M
YoY Change 8.12%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $489.0M 284.0M $1.168B
YoY Change 25.06% -32.86% -32.13%
NET CHANGE
Cash From Operating Activities $496.0M 664.0M $2.263B
Cash From Investing Activities -$964.0M -912.0M -$3.370B
Cash From Financing Activities $489.0M 284.0M $1.168B
Net Change In Cash $21.00M 36.00M $61.00M
YoY Change -2200.0% 260.0% -141.78%
FREE CASH FLOW
Cash From Operating Activities $496.0M $664.0M $2.263B
Capital Expenditures $931.0M $921.0M $3.351B
Free Cash Flow -$435.0M -$257.0M -$1.088B
YoY Change 12.69% -118.9% -15.85%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ameren, headquartered in St. Louis, Missouri, is a public utility holding company whose primary assets are its equity interests in its subsidiaries.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ameren’s subsidiaries are separate, independent legal entities with separate businesses, assets, and liabilities. Dividends on Ameren’s common stock and the payment of expenses by Ameren depend on distributions made to it by its subsidiaries. Ameren’s principal subsidiaries are listed below. Ameren also has other subsidiaries that conduct other activities, such as providing shared services.</span></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:15.13pt">Union Electric Company, doing business as Ameren Missouri, operates a rate-regulated electric generation, transmission, and distribution business and a rate-regulated natural gas distribution business in Missouri. Ameren Missouri was incorporated in Missouri in 1922 and is successor to a number of companies, the oldest of which was organized in 1881. It is the largest electric utility in the state of Missouri. It supplies electric and natural gas service to a 24,000-square-mile area in central and eastern Missouri, which includes the Greater St. Louis area. Ameren Missouri supplies electric service to 1.2 million customers and natural gas service to 0.1 million customers.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:15.13pt">Ameren Illinois Company, doing business as Ameren Illinois, operates rate-regulated electric transmission, electric distribution, and natural gas distribution businesses in Illinois. Ameren Illinois was incorporated in Illinois in 1923 and is the successor to a number of companies, the oldest of which was organized in 1902. Ameren Illinois supplies electric and natural gas utility service to a 43,700 square mile area in central and southern Illinois. Ameren Illinois supplies electric service to 1.2 million customers and natural gas service to 0.8 million customers.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial Narrow',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:15.13pt">ATXI operates a FERC rate-regulated electric transmission business in the MISO. ATXI was incorporated in Illinois in 2006. ATXI operates, among other assets, the Spoon River, Mark Twain, and Illinois Rivers transmission lines, which were placed in service in February 2018, December 2019, and December 2020, respectively.</span></div>
CY2021Q4 us-gaap Goodwill
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CY2022 aee Roe Change
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