AES CORP, 10-Q filed on 5/8/2018
Quarterly Report
v3.8.0.1
Document And Entity Information - $ / shares
 3 Months Ended
Mar. 31, 2018
May 01, 2018
Dec. 31, 2017
Document and Entity Information [Abstract]      
Document Type 10-Q    
Amendment Flag false    
Document Period End Date Mar. 31, 2018    
Document Fiscal Year Focus 2018    
Document Fiscal Period Focus Q1    
Trading Symbol AES    
Entity Registrant Name AES CORP    
Entity Central Index Key 0000874761    
Current Fiscal Year End Date --12-31    
Entity Filer Category Large Accelerated Filer    
Entity Common Stock, Shares Outstanding   661,399,753  
Common Stock, Par or Stated Value Per Share $ 0.01   $ 0.01
v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 1,212 $ 949
Restricted cash 415 274
Short-term investments 617 424
Accounts receivable, net of allowance for doubtful accounts of $13 and $10, respectively 1,498 1,463
Inventory 569 562
Prepaid expenses 66 62
Other current assets 703 630
Current assets of discontinued operations and held-for-sale businesses 358 2,034
Total current assets 5,438 6,398
Property, Plant and Equipment:    
Land 502 502
Electric generation, distribution assets and other 24,311 24,119
Accumulated depreciation (8,168) (7,942)
Construction in progress 4,043 3,617
Property, plant and equipment, net 20,688 20,296
Other Assets:    
Investments in and advances to affiliates 1,282 1,197
Debt service reserves and other deposits 541 565
Goodwill 1,059 1,059
Other intangible assets, net of accumulated amortization of $454 and $441, respectively 362 366
Deferred income taxes 94 130
Service concession assets, net of accumulated amortization of $0 and $206, respectively 0 1,360
Notes, Loans and Financing Receivable, Gross, Noncurrent 1,474 0
Other noncurrent assets 1,635 1,741
Total other assets 6,447 6,418
TOTAL ASSETS 32,573 33,112
CURRENT LIABILITIES    
Accounts payable 1,317 1,371
Accrued interest 289 228
Accrued and other liabilities 1,182 1,232
Non-recourse debt, includes $986 and $1,012, respectively, related to variable interest entities 2,025 2,164
Current liabilities of discontinued operations and held-for-sale businesses 63 1,033
Total current liabilities 4,876 6,028
NONCURRENT LIABILITIES    
Recourse debt 4,060 4,625
Non-recourse debt, includes $1,570 and $1,358, respectively, related to variable interest entities 13,601 13,176
Deferred income taxes 1,207 1,006
Pension and other postretirement liabilities 189 230
Other noncurrent liabilities 2,264 2,365
Total noncurrent liabilities 21,321 21,402
Commitments and Contingencies (see Note 8)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests 851 837
THE AES CORPORATION STOCKHOLDERS’ EQUITY    
Common stock ($0.01 par value, 1,200,000,000 shares authorized; 816,331,182 issued and 661,364,449 outstanding at March 31, 2018 and 816,312,913 issued and 660,388,128 outstanding at December 31, 2017) 8 8
Additional paid-in capital 8,397 8,501
Accumulated deficit (1,525) (2,276)
Accumulated other comprehensive loss (1,808) (1,876)
Treasury stock, at cost (154,966,733 and 155,924,785 shares at March 31, 2018 and December 31, 2017, respectively) (1,879) (1,892)
Total AES Corporation stockholders’ equity 3,193 2,465
NONCONTROLLING INTERESTS 2,332 2,380
Total equity 5,525 4,845
TOTAL LIABILITIES AND EQUITY $ 32,573 $ 33,112
v3.8.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Statement of Financial Position [Abstract]    
Accounts receivable, allowance for doubtful accounts $ 13 $ 10
Other intangible assets, accumulated amortization 454 441
Service Concession Asset, Accumulated Depreciation $ 0 $ 206
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,200,000,000 1,200,000,000
Common stock, shares issued (in shares) 816,331,182 816,312,913
Common stock, shares outstanding (in shares) 661,364,449 660,388,128
Treasury stock, shares (in shares) 154,966,733 155,924,785
Variable Interest Entity [Line Items]    
Non-recourse debt - current, balance at variable interest entities $ 2,025 $ 2,164
Consolidated Variable Interest Entities [Member]    
Variable Interest Entity [Line Items]    
Non-recourse debt - current, balance at variable interest entities 986 1,012
Non-recourse debt - noncurrent, balance at variable interest entities $ 1,570 $ 1,358
v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures $ 1,282  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest (98) $ (125)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest 0 (1)
Revenue:    
Regulated 722 813
Non-Regulated 2,018 1,768
Total revenue 2,740 2,581
Cost of Sales:    
Regulated 601 703
Non-Regulated 1,483 1,321
Total cost of sales (2,084) (2,024)
Operating margin 656 557
General and administrative expenses (56) (54)
Interest expense (281) (287)
Interest income 76 63
Gain (loss) on extinguishment of debt (170) 17
Other expense (9) (24)
Other income 13 73
Gain on disposal and sale of businesses 788 0
Asset impairment expense 0 (168)
Foreign currency transaction losses (19) (20)
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES 998 157
Income tax expense 231 67
Net equity in earnings of affiliates 11 7
INCOME FROM CONTINUING OPERATIONS 778 97
Income (loss) from operations of discontinued businesses, net of income tax expense of $0 and $2, respectively (1) 1
NET INCOME 777 98
Less: Net income attributable to noncontrolling interests and redeemable stock of subsidiaries (93) (121)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION 684 (24)
AMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:    
Income (loss) from continuing operations, net of tax 685 (24)
Loss from discontinued operations, net of tax (1) 0
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION $ 684 $ (24)
BASIC EARNINGS PER SHARE:    
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax $ 1.04 $ (0.04)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS 1.04 (0.04)
DILUTED EARNINGS PER SHARE:    
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax $ 1.03 $ (0.04)
DILUTED SHARES OUTSTANDING 663 659
DIVIDENDS DECLARED PER COMMON SHARE $ 0.13 $ 0.12
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS $ 1.03 $ (0.04)
v3.8.0.1
Condensed Consolidated Statements of Operations Condensed Consolidated Statement of Operations (parentheticals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Discontinued Operation, Tax Effect of Discontinued Operation $ 0 $ (2)
Asset Impairment Expense [Member]    
Discontinued Operation, Tax Effect of Discontinued Operation $ 0 $ 0
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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Comprehensive Income [Abstract]    
NET INCOME $ (777) $ (98)
Foreign currency translation activity:    
Foreign currency translation adjustments, net of income tax benefit (expense) of $0 and $(1), respectively 25 68
Reclassification to earnings, net of $0 income tax (16) 3
Total foreign currency translation adjustments 9 71
Derivative activity:    
Change in derivative fair value, net of income tax benefit (expense) of $(15) and $8, respectively 57 (5)
Reclassification to earnings, net of income tax benefit (expense) of $1 and $(1), respectively 10 20
Total change in fair value of derivatives 67 15
Pension activity:    
Reclassification to earnings due to amortization of net actuarial loss, net of income tax expense of $0 and $3, respectively 2 6
Total pension adjustments 2 6
OTHER COMPREHENSIVE INCOME 78 92
COMPREHENSIVE INCOME 855 190
Less: Comprehensive income attributable to noncontrolling interests (122) (142)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE AES CORPORATION $ 733 $ 48
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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Comprehensive Income [Abstract]    
Change in fair value of available-for-sale securities, income tax (expense) benefit $ 0 $ 0
Available-for-sale reclassification to earnings, income tax (expense) benefit 0 0
Foreign currency translation adjustments, income tax expense 0 (1)
Foreign currency reclassification to earnings, net of income tax (expense) benefit 0 0
Change in derivative fair value, net of income tax (expense) benefit (15) 8
Derivative reclassification to earnings, net of income tax (expense) benefit 1 (1)
Pension, amortization of net actuarial gain (loss), income tax 0 (3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Tax 0 1
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax $ 0 $ 1
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES:    
Net income $ 777 $ 98
Adjustments to net income:    
Depreciation and amortization 254 291
Gain on disposal and sale of businesses 788 0
Asset impairment expense 0 168
Deferred income taxes 180 (6)
Provisions for contingencies 0 12
Loss (gain) on extinguishment of debt 170 (17)
Loss on sales of assets 2 12
Other 72 48
Changes in operating assets and liabilities    
(Increase) decrease in accounts receivable (39) 50
(Increase) decrease in inventory (16) (16)
(Increase) decrease in prepaid expenses and other current assets (33) 111
(Increase) decrease in other assets 19 (43)
Increase (decrease) in accounts payable and other current liabilities (66) (65)
Increase (decrease) in income tax payables, net and other tax payables 0 38
Increase (decrease) in other liabilities (17) 27
Net cash provided by operating activities 515 708
INVESTING ACTIVITIES:    
Capital expenditures (495) (474)
Proceeds from the sale of businesses, net of cash and restricted cash sold 1,180 4
Sale of short-term investments 149 907
Purchase of short-term investments (345) (716)
Payments for Advance to Affiliate (44) 0
Other investing (29) (38)
Net cash provided by (used in) investing activities 416 (317)
FINANCING ACTIVITIES:    
Borrowings under the revolving credit facilities 881 225
Repayments under the revolving credit facilities (783) (84)
Issuance Of Recourse Debt 1,000 0
Repayments of recourse debt (1,774) (341)
Issuance of non-recourse debt 757 569
Repayments of non-recourse debt (510) (295)
Payments for financing fees (14) (18)
Distributions to noncontrolling interests (17) (33)
Contributions from noncontrolling interests and redeemable security holders 11 29
Dividends paid on AES common stock (86) (79)
Payments for financed capital expenditures (89) (26)
Other financing (6) (26)
Net cash used in financing activities (630) (79)
Effect of exchange rate changes on cash 5 11
(Increase) decrease in cash and restricted cash of discontinued operations and held-for-sale businesses 74 (35)
Total increase in cash, cash equivalents and restricted cash 380 288
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending 2,168 2,248
SUPPLEMENTAL DISCLOSURES:    
Cash payments for interest, net of amounts capitalized 207 195
Cash payments for income taxes, net of refunds 71 74
SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Dividends declared but not yet paid 86  
Fluence [Member] | Non-cash [Member]    
SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Contribution of Property $ 20 $ 0
v3.8.0.1
Financial Statement Presentation
 3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
FINANCIAL STATEMENT PRESENTATION
FINANCIAL STATEMENT PRESENTATION
The prior period condensed consolidated financial statements in this Quarterly Report on Form 10-Q (“Form 10-Q”) have been reclassified to reflect the businesses classified as discontinued operations as discussed in Note 16—Discontinued Operations. Certain prior period amounts have been reclassified to comply with newly adopted accounting standards. See further detail in the new accounting pronouncements discussion.
Consolidation — In this Quarterly Report the terms “AES,” “the Company,” “us” or “we” refer to the consolidated entity, including its subsidiaries and affiliates. The terms “The AES Corporation” or “the Parent Company” refer only to the publicly held holding company, The AES Corporation, excluding its subsidiaries and affiliates. Furthermore, VIEs in which the Company has a variable interest have been consolidated where the Company is the primary beneficiary. Investments in which the Company has the ability to exercise significant influence, but not control, are accounted for using the equity method of accounting. All intercompany transactions and balances have been eliminated in consolidation.
Interim Financial Presentation — The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with GAAP, as contained in the FASB ASC, for interim financial information and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for annual fiscal reporting periods. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations, financial position, comprehensive income, and cash flows. The results of operations for the three months ended March 31, 2018, are not necessarily indicative of expected results for the year ending December 31, 2018. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the 2017 audited consolidated financial statements and notes thereto, which are included in the 2017 Form 10-K filed with the SEC on February 26, 2018 (the “2017 Form 10-K”).
Cash, Cash Equivalents, and Restricted Cash — The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Consolidated Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows (in millions):
 
March 31, 2018
 
December 31, 2017
Cash and cash equivalents
$
1,212

 
$
949

Restricted cash
415

 
274

Debt service reserves and other deposits
541

 
565

Cash, Cash Equivalents, and Restricted Cash
$
2,168

 
$
1,788


New Accounting Pronouncements Adopted in 2018 — The following table provides a brief description of recent accounting pronouncements that had an impact on the Company’s consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Adopted
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
This standard changes the presentation of non-service costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization.
Transition method: retrospective for presentation of non-service cost and prospective for the change in capitalization.
January 1, 2018
No material impact upon adoption of the standard.
2017-05, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also provides guidance on how gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to non-customers are recognized. The standard also clarifies that the derecognition of businesses is under the scope of ASC 810. The standard must be adopted concurrently with ASC 606, however an entity will not have to apply the same transition method as ASC 606.
Transition method: modified retrospective.
January 1, 2018
As more transactions will not meet the definition of a business due to the adoption of ASU 2017-01, more dispositions or partial sales will be out of the scope of ASC 810 and will be under this standard.

2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business
The standard requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and if that threshold is met, the set is not a business. As a second step, to be considered a business at least one substantive process should exist. The revised definition of a business will reduce the number of transactions that are accounted for as business combinations.
Transition method: prospective.
January 1, 2018
Some acquisitions and dispositions will now fall under a different accounting model.
2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)
This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.
Transition method: retrospective.
January 1, 2018
For the three months ending March 31, 2017, cash provided by operating activities increased by $5 million, cash used in investing activities decreased by $23 million, and cash used in financing activities was unchanged.
2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also it amends certain disclosures of financial instruments.
Transition method: modified retrospective. Prospective for equity investments without readily determine fair value.
January 1, 2018
No material impact upon adoption of the standard.
2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-10, 2017-13, Revenue from Contracts with Customers (Topic 606)

See discussion of the ASU below.
January 1, 2018
See impact upon adoption of the standard below.
On January 1, 2018, the Company adopted ASU 2014-09, "Revenue from Contracts with Customers," and its subsequent corresponding updates ("ASC 606"). Under this standard, an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applied the modified retrospective method of adoption to the contracts that were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous revenue recognition standard. For contracts that were modified before January 1, 2018, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461


The Mong Duong II power plant in Vietnam is the primary driver of changes in revenue recognition under the new standard. This plant is operated under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25-year PPA. Under the previous revenue recognition standard, construction costs were deferred to a service concession asset, which was expensed in proportion to revenue recognized for the construction element over the term of the PPA. Under ASC 606, construction revenue and associated costs are recognized as construction activity occurs. As construction of the plant was substantially completed in 2015, revenues and costs associated with the construction were recognized through retained earnings, and the service concession asset was derecognized. A loan receivable was recognized for the future expected payments for the construction performance obligation. As the payments for the construction performance obligation occur over a 25-year term, a significant financing element was determined to exist which is accounted for under the effective interest rate method. The other performance obligation to operate and maintain the facility is measured based on the capacity made available.
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9


New Accounting Pronouncements Issued But Not Yet Effective — The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s consolidated financial statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued But Not Yet Effective
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI
This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities
The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings in the same income statement line as the hedged item.
Transition method: modified retrospective with the cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. Prospective for presentation and disclosures.
January 1, 2019. Early adoption is permitted.

The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Accounting for Certain Financial Instruments and Certain Mandatorily Redeemable Noncontrolling Interests
Part 1 of this standard changes the classification of certain equity-linked financial instruments when assessing whether the instrument is indexed to an entity’s own stock.
Transition method: retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
This standard shortens the period of amortization for the premium on certain callable debt securities to the earliest call date.
Transition method: modified retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This standard simplifies the accounting for goodwill impairment by removing the requirement to calculate the implied fair value. Instead, it requires that an entity records an impairment charge based on the excess of a reporting unit's carrying amount over its fair value.
Transition method: prospective.
January 1, 2020. Early adoption is permitted as of January 1, 2017.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities.
Transition method: various.
January 1, 2020. Early adoption is permitted only as of January 1, 2019.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-02, 2018-01, Leases (Topic 842)
See discussion of the ASU below.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases, and recognize expenses in a manner similar to the current accounting method. For Lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions.
The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under ASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets.
The Company has established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard.
As the Company has preliminarily concluded that at transition it would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which the Company is the lessee. However, income statement presentation and the expense recognition pattern is not expected to change.
Under ASC 842, it is expected that fewer contracts will contain a lease. However, due to the elimination of today's real estate-specific guidance and changes to certain lessor classification criteria, more leases will qualify as sales-type leases and direct financing leases. Under these two models, a lessor will derecognize the asset and will recognize a lease receivable. According to ASC 842, the lease receivable does not include variable payments that depend on the use of the asset (e.g. Mwh produced by a facility). Therefore, the lease receivable could be lower than the carrying amount of the underlying asset at lease commencement, In such circumstances, the difference between the initially recognized lease receivable and the carrying amount of the underlying asset is recognized as a selling loss at lease commencement. The Company is assessing how this guidance will apply to new renewable contracts executed or modified after the effective date where all the payments are contingent on the level of production and is also evaluating the related impact to the allocation of earnings under HLBV accounting.
v3.8.0.1
Inventory
 3 Months Ended
Mar. 31, 2018
Inventory Disclosure [Abstract]  
INVENTORY
INVENTORY
The following table summarizes the Company’s inventory balances as of the periods indicated (in millions):
 
March 31, 2018
 
December 31, 2017
Fuel and other raw materials
$
281

 
$
284

Spare parts and supplies
288

 
278

Total
$
569

 
$
562
v3.8.0.1
Fair Value
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
FAIR VALUE
FAIR VALUE
The fair value of current financial assets and liabilities, debt service reserves and other deposits approximate their reported carrying amounts. The estimated fair values of the Company’s assets and liabilities have been determined using available market information. By virtue of these amounts being estimates and based on hypothetical transactions to sell assets or transfer liabilities, the use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. For further information on our valuation techniques and policies, see Note 4—Fair Value in Item 8.—Financial Statements and Supplementary Data of our 2017 Form 10-K.
Recurring Measurements — The following table presents, by level within the fair value hierarchy, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated (in millions). For the Company’s investments in marketable debt securities, the security classes presented are determined based on the nature and risk of the security and are consistent with how the Company manages, monitors and measures its marketable securities:
 
March 31, 2018
 
December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEBT SECURITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured debentures
$
—

 
$
291

 
$
—

 
$
291

 
$
—

 
$
207

 
$
—

 
$
207

Certificates of deposit
—

 
260

 
—

 
260

 
—

 
153

 
—

 
153

Total debt securities
—

 
551

 
—

 
551

 
—

 
360

 
—

 
360

EQUITY SECURITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mutual funds
20

 
52

 
—

 
72

 
20

 
52

 
—

 
72

Other equity securities
—

 
3

 
—

 
3

 
—

 
—

 
—

 
—

Total equity securities
20

 
55

 
—

 
75

 
20

 
52

 
—

 
72

DERIVATIVES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
—

 
42

 
—

 
42

 
—

 
15

 
—

 
15

Cross-currency derivatives
—

 
45

 
—

 
45

 
—

 
29

 
—

 
29

Foreign currency derivatives
—

 
37

 
225

 
262

 
—

 
29

 
240

 
269

Commodity derivatives
—

 
8

 
3

 
11

 
—

 
30

 
5

 
35

Total derivatives — assets
—

 
132

 
228

 
360

 
—

 
103

 
245

 
348

TOTAL ASSETS
$
20

 
$
738

 
$
228

 
$
986

 
$
20

 
$
515

 
$
245

 
$
780

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DERIVATIVES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
—

 
$
81

 
$
129

 
$
210

 
$
—

 
$
111

 
$
151

 
$
262

Cross-currency derivatives
—

 
1

 
—

 
1

 
—

 
3

 
—

 
3

Foreign currency derivatives
—

 
41

 
—

 
41

 
—

 
30

 
—

 
30

Commodity derivatives
—

 
1

 
—

 
1

 
—

 
19

 
1

 
20

Total derivatives — liabilities
—

 
124

 
129

 
253

 
—

 
163

 
152

 
315

TOTAL LIABILITIES
$
—

 
$
124

 
$
129

 
$
253

 
$
—

 
$
163

 
$
152

 
$
315


As of March 31, 2018, all AFS debt securities had stated maturities within one year. For the three months ended March 31, 2018 and 2017, no other-than-temporary impairments of marketable securities were recognized in earnings or Other Comprehensive Income (Loss). Gains and losses on the sale of investments are determined using the specific-identification method. The following table presents gross proceeds from the sale of AFS securities during the periods indicated (in millions):
 
Three Months Ended March 31,
 
2018
 
2017
Gross proceeds from sale of AFS securities
$
147

 
$
429

The following tables present a reconciliation of net derivative assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017 (presented net by type of derivative in millions). Transfers between Level 3 and Level 2 are determined as of the end of the reporting period and principally result from changes in the significance of unobservable inputs used to calculate the credit valuation adjustment.
Three Months Ended March 31, 2018
Interest Rate
 
Foreign Currency
 
Commodity
 
Total
Balance at January 1
$
(151
)
 
$
240

 
$
4

 
$
93

Total realized and unrealized gains (losses):
 
 
 
 
 
 

Included in earnings
14

 
(6
)
 
1

 
9

Included in other comprehensive income — derivative activity
27

 
—

 
—

 
27

Settlements
6

 
(9
)
 
(2
)
 
(5
)
Transfers of liabilities into Level 3
(8
)
 
—

 
—

 
(8
)
Transfers of liabilities out of Level 3
(17
)
 
—

 
—

 
(17
)
Balance at March 31
$
(129
)
 
$
225

 
$
3

 
$
99

Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period
$
16

 
$
(15
)
 
$
1

 
$
2

Three Months Ended March 31, 2017
Interest Rate
 
Foreign Currency
 
Commodity
 
Total
Balance at January 1
$
(179
)
 
$
255

 
$
5

 
$
81

Total realized and unrealized losses:
 
 
 
 
 
 
 
Included in earnings
—

 
(16
)
 
—

 
(16
)
Included in other comprehensive income — derivative activity
(12
)
 
—

 
—

 
(12
)
Settlements
10

 
(8
)
 
(3
)
 
(1
)
Transfers of liabilities into Level 3
(4
)
 
—

 
—

 
(4
)
Transfers of assets out of Level 3
2

 
—

 
—

 
2

Balance at March 31
$
(183
)
 
$
231

 
$
2

 
$
50

Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period
$
2

 
$
(24
)
 
$
—

 
$
(22
)

The following table summarizes the significant unobservable inputs used for Level 3 derivative assets (liabilities) as of March 31, 2018 (in millions, except range amounts):
Type of Derivative
 
Fair Value
 
Unobservable Input
 
Amount or Range (Weighted Average)
Interest rate
 
$
(129
)
 
Subsidiaries’ credit spreads
 
2.38% to 4.38% (3.54%)
Foreign currency:
 
 
 
 
 
 
Argentine Peso
 
225

 
Argentine Peso to USD currency exchange rate after one year
 
24.33 to 56.28 (38.75)
Commodity:
 
 
 
 
 
 
Other
 
3

 
 
 
 
Total
 
$
99

 
 
 
 

For interest rate derivatives and foreign currency derivatives, increases (decreases) in the estimates of the Company’s own credit spreads would decrease (increase) the value of the derivatives in a liability position. For foreign currency derivatives, increases (decreases) in the estimate of the above exchange rate would increase (decrease) the value of the derivative.
Nonrecurring Measurements
The Company measures fair value using the applicable fair value measurement guidance. Impairment expense is measured by comparing the fair value at the evaluation date to the then-latest available carrying amount. The following table summarizes our major categories of assets and liabilities measured at fair value on a nonrecurring basis and their level within the fair value hierarchy (in millions):
 
Measurement Date
 
Carrying Amount (1)
 
Fair Value
 
Pretax Loss
Three Months Ended March 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Long-lived assets held and used: (2)
 
 
 
 
 
 
 
 
 
 
 
DPL
02/28/2017
 
$
77

 
$
—

 
$
—

 
$
11

 
$
66

Other
02/28/2017
 
15

 
—

 
—

 
7

 
8

Held-for-sale businesses: (3)
 
 
 
 
 
 
 
 
 
 
 
Kazakhstan
03/31/2017
 
171

 
—

 
29

 
—

 
94

_____________________________
(1) 
Represents the carrying values at the dates of measurement, before fair value adjustment.
(2) 
See Note 14—Asset Impairment Expense for further information.
(3) 
Per the Company’s policy, pretax loss is limited to the impairment of long-lived assets. Any additional loss will be recognized on completion of the sale. See Note 17—Held-for-Sale Businesses and Dispositions for further information.
Financial Instruments not Measured at Fair Value in the Condensed Consolidated Balance Sheets
The following table presents (in millions) the carrying amount, fair value and fair value hierarchy of the Company’s financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, but for which fair value is disclosed:
 
 
March 31, 2018
 
 
Carrying
Amount
 
Fair Value
 
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
Accounts receivable — noncurrent (1)
$
156

 
$
295

 
$
—

 
$
—

 
$
295

Liabilities:
Non-recourse debt
15,626

 
16,006

 
—

 
14,250

 
1,756

 
Recourse debt
4,065

 
4,173

 
—

 
4,173

 
—

 
 
December 31, 2017
 
 
Carrying
Amount
 
Fair Value
 
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
Accounts receivable — noncurrent (1)
$
163

 
$
217

 
$
—

 
$
6

 
$
211

Liabilities:
Non-recourse debt
15,340

 
15,890

 
—

 
13,350

 
2,540

 
Recourse debt
4,630

 
4,920

 
—

 
4,920

 
—

_____________________________
(1) 
These amounts primarily relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in Other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $30 million and $31 million as of March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
For further information on the derivative and hedging accounting policies see Note 1—General and Summary of Significant Accounting Policies—Derivatives and Hedging Activities of Item 8.—Financial Statements and Supplementary Data in the 2017 Form 10-K.
Volume of Activity — The following table presents the Company’s maximum notional (in millions) over the remaining contractual period by type of derivative as of March 31, 2018, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Derivatives
 
Maximum Notional Translated to USD
 
Latest Maturity
Interest Rate (LIBOR and EURIBOR)
 
$
4,475

 
2041
Cross-Currency Swaps (Chilean Unidad de Fomento and Chilean Peso)
 
419

 
2029
Foreign Currency:
 
 
 
 
Argentine Peso
 
180

 
2026
Chilean Peso
 
388

 
2020
Colombian Peso
 
285

 
2019
Others, primarily with weighted average remaining maturities of a year or less
 
327

 
2020

Accounting and Reporting — Assets and Liabilities — The following tables present the fair value of assets and liabilities related to the Company’s derivative instruments as of March 31, 2018 and December 31, 2017 (in millions):
Fair Value
March 31, 2018
 
December 31, 2017
Assets
Designated
 
Not Designated
 
Total
 
Designated
 
Not Designated
 
Total
Interest rate derivatives
$
41

 
$
1

 
$
42

 
$
15

 
$
—

 
$
15

Cross-currency derivatives
45

 
—

 
45

 
29

 
—

 
29

Foreign currency derivatives
13

 
249

 
262

 
8

 
261

 
269

Commodity derivatives
—

 
11

 
11

 
5

 
30

 
35

Total assets
$
99

 
$
261

 
$
360

 
$
57

 
$
291

 
$
348

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
90

 
$
120

 
$
210

 
$
125

 
$
137

 
$
262

Cross-currency derivatives
1

 
—

 
1

 
3

 
—

 
3

Foreign currency derivatives
1

 
40

 
41

 
1

 
29

 
30

Commodity derivatives
—

 
1

 
1

 
9

 
11

 
20

Total liabilities
$
92

 
$
161

 
$
253

 
$
138

 
$
177

 
$
315

 
March 31, 2018
 
December 31, 2017
Fair Value
Assets
 
Liabilities
 
Assets
 
Liabilities
Current
$
70

 
$
170

 
$
84

 
$
211

Noncurrent
290

 
83

 
264

 
104

Total
$
360

 
$
253

 
$
348

 
$
315


As of March 31, 2018, all derivative instruments subject to credit risk-related contingent features were in an asset position.
Credit Risk-Related Contingent Features (1)
 
 
 
 
 
December 31, 2017
Present value of liabilities subject to collateralization
 
 
$
15

Cash collateral held by third parties or in escrow
 
 
9

 _____________________________
(1) 
Based on the credit rating of certain subsidiaries
Earnings and Other Comprehensive Income (Loss) — The next table presents (in millions) the pretax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated:
 
Three Months Ended March 31,
2018
 
2017
Effective portion of cash flow hedges
 
 
 
Gains (losses) recognized in AOCL
 
 
 
Interest rate derivatives
$
47

 
$
(22
)
Cross-currency derivatives
19

 
12

Foreign currency derivatives
6

 
(15
)
Commodity derivatives
—

 
12

Total
$
72

 
$
(13
)
Gains (losses) reclassified from AOCL into earnings
 
 
 
Interest rate derivatives
$
(16
)
 
$
(24
)
Cross-currency derivatives
10

 
4

Foreign currency derivatives
1

 
(2
)
Commodity derivatives
(4
)
 
1

Total
$
(9
)

$
(21
)
Gains (losses) recognized in earnings related to
 
 
 
Not designated as hedging instruments:
 
 
 
Foreign currency derivatives
$
108

 
$
(32
)
Commodity derivatives and other
9

 
(2
)
Total
$
117

 
$
(34
)

AOCL is expected to decrease pretax income from continuing operations for the twelve months ended March 31, 2019, by $44 million, primarily due to interest rate derivatives.
v3.8.0.1
Financing Receivables
 3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
FINANCING RECEIVABLES
FINANCING RECEIVABLES
Receivables with contractual maturities of greater than one year are considered financing receivables. The Company’s financing receivables are primarily related to amended agreements or government resolutions that are due from CAMMESA, the administrator of the wholesale electricity market in Argentina. The following table presents financing receivables by country as of the dates indicated (in millions):
 
March 31, 2018
 
December 31, 2017
Argentina
$
174

 
$
177

Other
12

 
17

Total
$
186

 
$
194


Argentina — Collection of the principal and interest on these receivables is subject to various business risks and uncertainties, including, but not limited to, the operation of power plants which generate cash for payments of these receivables, regulatory changes that could impact the timing and amount of collections, and economic conditions in Argentina. The Company monitors these risks, including the credit ratings of the Argentine government, on a quarterly basis to assess the collectability of these receivables. The Company accrues interest on these receivables once the recognition criteria have been met. The Company’s collection estimates are based on assumptions that it believes to be reasonable but are inherently uncertain. Actual future cash flows could differ from these estimates.
v3.8.0.1
Investment In and Advances To Affiliates
 3 Months Ended
Mar. 31, 2018
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
INVESTMENTS IN AND ADVANCES TO AFFILIATES
INVESTMENTS IN AND ADVANCES TO AFFILIATES
Summarized Financial Information — The following table summarizes financial information of the Company’s 50%-or-less-owned affiliates that are accounted for using the equity method (in millions):
 
Three Months Ended March 31,
50%-or-less-Owned Affiliates
2018
 
2017
Revenue
$
206

 
$
167

Operating margin
28

 
32

Net income
12

 
11


sPower — In February 2017, the Company and Alberta Investment Management Corporation (“AIMCo”) entered into an agreement to acquire FTP Power LLC (“sPower”). In July 2017, AES closed on the acquisition of its 48% ownership interest in sPower for $461 million. In November 2017, AES acquired an additional 2% ownership interest in sPower for $19 million. As the Company does not control sPower, it is accounted for as an equity method investment. The sPower portfolio includes solar and wind projects in operation, under construction, and in development located in the United States. The sPower equity method investment is reported in the US and Utilities SBU reportable segment.
Fluence — In July 2017, the Company entered into a joint venture with Siemens AG to form a global energy storage technology and services company under the name Fluence. On January 1, 2018, Siemens and AES closed on the creation of the joint venture with each party holding a 50% ownership interest. The Company contributed $7 million in cash and $20 million in non-cash assets from the AES Advancion energy storage development business as consideration for the transaction, and received an equity interest in Fluence with a fair value of $50 million. See Note 17—Held-for-sale Businesses and Dispositions for further discussion. As the Company does not control Fluence, it is accounted for as an equity method investment. The Fluence equity method investment is reported as part of Corp and Other.
v3.8.0.1
Debt
 3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
DEBT
DEBT
Recourse Debt
In March 2018, the Company repurchased via tender offers $671 million aggregate principal of its existing 5.50% senior unsecured notes due in 2024 and $29 million of its existing 5.50% senior unsecured notes due in 2025. As a result of these transactions, the Company recognized a loss on extinguishment of debt of $44 million for the three months ended March 31, 2018.
In March 2018, the Company issued $500 million aggregate principal of 4.00% senior notes due in 2021 and $500 million of 4.50% senior notes due in 2023. The Company used the proceeds from these issuances to repurchase via tender offer in full the $228 million balance of its 8.00% senior notes due in 2020 and the $690 million balance of its 7.375% senior notes due in 2021. As a result of these transactions, the Company recognized a loss on extinguishment of debt of $125 million for the three months ended March 31, 2018.
In March 2017, the Company repurchased via tender offers $276 million aggregate principal of its existing 7.375% senior unsecured notes due in 2021 and $24 million of its existing 8.00% senior unsecured notes due in 2020. As a result of these transactions, the Company recognized a loss on extinguishment of debt of $47 million for the three months ended March 31, 2017.
Non-Recourse Debt
During the three months ended March 31, 2018, the Company’s subsidiaries had the following significant debt transactions:
Subsidiary
 
Issuances
 
Repayments
 
Gain (Loss) on Extinguishment of Debt
Tietê
 
$
385

 
$
(231
)
 
$
—

Southland
 
194

 
—

 
—

Total
 
$
579

 
$
(231
)
 
$
—


AES Argentina — In February 2017, AES Argentina issued $300 million aggregate principal of unsecured and unsubordinated notes due in 2024. The net proceeds from this issuance were used for the prepayment of $75 million of non-recourse debt related to the construction of the San Nicolas Plant resulting in a gain on extinguishment of debt of approximately $65 million.
Non-Recourse Debt in Default — The current portion of non-recourse debt includes the following subsidiary debt in default as of March 31, 2018 (in millions).
Subsidiary
 
Primary Nature of Default
 
Debt in Default
 
Net Assets
Alto Maipo
 
Covenant
 
$
629

 
$
359

AES Puerto Rico
 
Covenant
 
334

 
124

AES Ilumina
 
Covenant
 
35

 
16

 
 
 
 
$
998

 
 

The above defaults are not payment defaults. All of the subsidiary non-recourse debt defaults were triggered by failure to comply with covenants and/or other conditions such as (but not limited to) failure to meet information covenants, complete construction or other milestones in an allocated time, meet certain minimum or maximum financial ratios, or other requirements contained in the non-recourse debt documents of the applicable subsidiary.
The AES Corporation’s recourse debt agreements include cross-default clauses that will trigger if a subsidiary or group of subsidiaries for which the non-recourse debt is in default provides more than 20% or more of the Parent Company’s total cash distributions from businesses for the four most recently completed fiscal quarters. As of March 31, 2018, the Company had no defaults which resulted in or were at risk of triggering a cross-default under the recourse debt of the Parent Company. In the event the Parent Company is not in compliance with the financial covenants of its senior secured revolving credit facility, restricted payments will be limited to regular quarterly shareholder dividends at the then-prevailing rate. Payment defaults and bankruptcy defaults would preclude the making of any restricted payments.
v3.8.0.1
Contingencies and Commitments
 3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
CONTINGENCIES AND COMMITMENTS
COMMITMENTS AND CONTINGENCIES
Guarantees, Letters of Credit and Commitments — In connection with certain project financings, acquisitions and dispositions, power purchases and other agreements, the Parent Company has expressly undertaken limited obligations and commitments, most of which will only be effective or will be terminated upon the occurrence of future events. In the normal course of business, the Parent Company has entered into various agreements, mainly guarantees and letters of credit, to provide financial or performance assurance to third parties on behalf of AES businesses. These agreements are entered into primarily to support or enhance the creditworthiness otherwise achieved by a business on a stand-alone basis, thereby facilitating the availability of sufficient credit to accomplish their intended business purposes. Most of the contingent obligations relate to future performance commitments which the Company or its businesses expect to fulfill within the normal course of business. The expiration dates of these guarantees vary from less than one year to more than 17 years.
The following table summarizes the Parent Company’s contingent contractual obligations as of March 31, 2018. Amounts presented in the following table represent the Parent Company’s current undiscounted exposure to guarantees and the range of maximum undiscounted potential exposure. The maximum exposure is not reduced by the amounts, if any, that could be recovered under the recourse or collateralization provisions in the guarantees.
Contingent Contractual Obligations
 
Amount
(in millions)
 
Number of Agreements
 
Maximum Exposure Range for Each Agreement (in millions)
Guarantees and commitments
 
$
795

 
24

 
<$1 — 272
Letters of credit under the unsecured credit facility
 
52

 
4

 
$2 — 26
Asset sale related indemnities (1)
 
27

 
1

 
$27
Letters of credit under the senior secured credit facility
 
36

 
20

 
<$1 — 13
Total
 
$
910

 
49

 
 

_____________________________
(1) 
Excludes normal and customary representations and warranties in agreements for the sale of assets (including ownership in associated legal entities) where the associated risk is considered to be nominal.
During the three months ended March 31, 2018, the Company paid letter of credit fees ranging from 1.33% to 3% per annum on the outstanding amounts of letters of credit.
Contingencies
Environmental — The Company periodically reviews its obligations as they relate to compliance with environmental laws, including site restoration and remediation. For each period ended March 31, 2018 and December 31, 2017, the Company had recognized liabilities of $5 million for projected environmental remediation costs. Due to the uncertainties associated with environmental assessment and remediation activities, future costs of compliance or remediation could be higher or lower than the amount currently accrued. Moreover, where no liability has been recognized, it is reasonably possible that the Company may be required to incur remediation costs or make expenditures in amounts that could be material but could not be estimated as of March 31, 2018. In aggregate, the Company estimates the range of potential losses related to environmental matters, where estimable, to be up to $19 million. The amounts considered reasonably possible do not include amounts accrued as discussed above.
Litigation — The Company is involved in certain claims, suits and legal proceedings in the normal course of business. The Company accrues for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The Company has recognized aggregate liabilities for all claims of approximately $51 million and $50 million as of March 31, 2018 and December 31, 2017, respectively. These amounts are reported on the Condensed Consolidated Balance Sheets within Accrued and other liabilities and Other noncurrent liabilities. A significant portion of these accrued liabilities relate to regulatory matters and commercial disputes in international jurisdictions. There can be no assurance that these accrued liabilities will be adequate to cover all existing and future claims or that we will have the liquidity to pay such claims as they arise.
Where no accrued liability has been recognized, it is reasonably possible that some matters could be decided unfavorably to the Company and could require the Company to pay damages or make expenditures in amounts that could be material but could not be estimated as of March 31, 2018. The material contingencies where a loss is reasonably possible primarily include claims under financing agreements; disputes with offtakers, suppliers and EPC contractors; alleged violation of monopoly laws and regulations; income tax and non-income tax matters with tax authorities; and regulatory matters. In aggregate, the Company estimates the range of potential losses, where estimable, related to these reasonably possible material contingencies to be between $139 million and $172 million. The amounts considered reasonably possible do not include the amounts accrued, as discussed above. These material contingencies do not include income tax-related contingencies which are considered part of our uncertain tax positions.
v3.8.0.1
Pension Plans
 3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]  
PENSION PLANS
PENSION PLANS
Total pension cost and employer contributions were as follows for the periods indicated (in millions):
 
Three Months Ended March 31,
 
2018
 
2017
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Service cost
$
4

 
$
3

 
$
3

 
$
3

Interest cost
10

 
5

 
10

 
5

Expected return on plan assets
(16
)
 
(5
)
 
(17
)
 
(5
)
Amortization of prior service cost
1

 
—

 
1

 
—

Amortization of net loss
5

 
1

 
5

 
—

Curtailment loss recognized
1

 
2

 
4

 
—

Total pension cost
$
5

 
$
6

 
$
6

 
$
3

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
Remainder of 2018 (Expected)
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Total employer contributions
$
38

 
$
3

 
$
—

 
$
9
v3.8.0.1
Redeemable Stocks of Subsidiaries (Notes)
 3 Months Ended
Mar. 31, 2018
Redeemable Stock of Subsidiaries [Abstract]  
Redeemable Noncontrolling Interest [Table Text Block]
REDEEMABLE STOCK OF SUBSIDIARIES
The following table summarizes the Company’s redeemable stock of subsidiaries balances as of the periods indicated (in millions):
 
March 31, 2018
 
December 31, 2017
IPALCO common stock
$
618

 
$
618

Colon quotas (1)
173

 
159

IPL preferred stock
60

 
60

Redeemable stock of subsidiaries
$
851

 
$
837


 _____________________________
(1) 
Characteristics of quotas are similar to common stock.
Colon — Our partner in Colon made capital contributions of $10 million during the three months ended March 31, 2018. No capital contributions were made during the three months ended March 31, 2017. Any subsequent adjustments to allocate earnings and dividends to our partner, or measure the investment at fair value, will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable.
v3.8.0.1
Equity
 3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
EQUITY
EQUITY
Changes in Equity — The following table is a reconciliation of the beginning and ending equity attributable to stockholders of The AES Corporation, NCI and total equity as of the periods indicated (in millions):
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 
The Parent Company Stockholders’ Equity
 
NCI
 
Total Equity
 
The Parent Company Stockholders’ Equity
 
NCI
 
Total Equity
Balance at the beginning of the period
$
2,465

 
$
2,380

 
$
4,845

 
$
2,794

 
$
2,906

 
$
5,700

Net income (loss) (1)
684

 
93

 
777

 
(24
)
 
122

 
98

Total foreign currency translation adjustment, net of income tax
3

 
6

 
9

 
61

 
10

 
71

Total change in derivative fair value, net of income tax
44

 
23

 
67

 
12

 
3

 
15

Total pension adjustments, net of income tax
2

 
—

 
2

 
(1
)
 
7

 
6

Cumulative effect of a change in accounting principle (2)
86

 
81

 
167

 
31

 
—

 
31

Fair value adjustment (3)
(6
)
 
—

 
(6
)
 
—

 
—

 
—

Disposition of businesses (4)
—

 
(249
)
 
(249
)
 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
(9
)
 
(9
)
 
—

 
(19
)
 
(19
)
Contributions from noncontrolling interests
—

 
1

 
1

 
—

 
17

 
17

Dividends declared on common stock
(86
)
 
—

 
(86
)
 
(79
)
 
—

 
(79
)
Issuance and exercise of stock-based compensation
1

 
—

 
1

 
1

 
—

 
1

Sale of subsidiary shares to noncontrolling interests
—

 
1

 
1

 
(4
)
 
22

 
18

Acquisition of subsidiary shares from noncontrolling interests
—

 
—

 
—

 
200

 
67

 
267

Less: Net loss attributable to redeemable stock of subsidiaries
—

 
5

 
5

 
—

 
3

 
3

Balance at the end of the period
$
3,193

 
$
2,332

 
$
5,525

 
$
2,991

 
$
3,138

 
$
6,129


_____________________________
(1)  
Net income attributable to noncontrolling interest of $98 million and net loss attributable to redeemable stocks of subsidiaries of $5 million for the three months ended March 31, 2018. Net income attributable to noncontrolling interest of $125 million and net loss attributable to redeemable stock of subsidiaries of $3 million for the three months ended March 31, 2017.
(2)  
See Note 1—Financial Statement Presentation, New Accounting Standards Adopted for further information.
(3)  
Adjustment to record the redeemable stock of Colon at fair value.
(4) 
See Note 17—Held-for-Sale Businesses and Dispositions for further information.
Equity Transactions with Noncontrolling Interests
Alto Maipo — On March 17, 2017, AES Gener completed the legal and financial restructuring of Alto Maipo. As part of this restructuring, AES indirectly acquired the 40% ownership interest of the noncontrolling shareholder, for a de minimis payment, and sold a 6.7% interest in the project to the construction contractor. This transaction resulted in a $196 million increase to the Parent Company’s Stockholders’ Equity due to an increase in additional-paid-in capital of $229 million, offset by the reclassification of accumulated other comprehensive losses from NCI to the Parent Company Stockholders’ Equity of $33 million. No gain or loss was recognized in net income as the sale was not considered to be a sale of in-substance real estate. After completion of the sale, the Company has an effective 62% economic interest in Alto Maipo. As the Company maintained control of the partnership after the sale, Alto Maipo continues to be consolidated by the Company within the South America SBU reportable segment.
Accumulated Other Comprehensive Loss — The following table summarizes the changes in AOCL by component, net of tax and NCI, for the three months ended March 31, 2018 (in millions):
 
Foreign currency translation adjustment, net
 
Unrealized derivative gains (losses), net
 
Unfunded pension obligations, net
 
Total
Balance at the beginning of the period
$
(1,486
)
 
$
(333
)
 
$
(57
)
 
$
(1,876
)
Other comprehensive income before reclassifications
19

 
37

 
—

 
56

Amount reclassified to earnings
(16
)
 
7

 
2

 
(7
)
Other comprehensive income
3

 
44

 
2

 
49

Cumulative effect of a change in accounting principle
—

 
19

 
—

 
19

Balance at the end of the period
$
(1,483
)
 
$
(270
)
 
$
(55
)
 
$
(1,808
)

Reclassifications out of AOCL are presented in the following table. Amounts for the periods indicated are in millions and those in parenthesis indicate debits to the Condensed Consolidated Statements of Operations:
AOCL Components
 
Affected Line Item in the Condensed Consolidated Statements of Operations
 
Three Months Ended March 31,
 
 
2018
 
2017
Foreign currency translation adjustment, net
 
 
 
 
Gain on disposal and sale of businesses
 
$
16

 
$
(3
)
 
 
Net income (loss) attributable to The AES Corporation
 
$
16

 
$
(3
)
Unrealized derivative gains (losses), net
 
 
 
 
Non-regulated revenue
 
$
(4
)
 
$
10

 
 
Non-regulated cost of sales
 
(1
)
 
(10
)
 
 
Interest expense
 
(15
)
 
(23
)
 
 
Foreign currency transaction losses
 
11

 
2

 
 
Income from continuing operations before taxes and equity in earnings of affiliates
 
(9
)
 
(21
)
 
 
Income tax expense
 
(1
)
 
1

 
 
Income from continuing operations
 
(10
)
 
(20
)
 
 
Less: Net income from operations attributable to noncontrolling interests and redeemable stock of subsidiaries
 
3

 
—

 
 
Net income (loss) attributable to The AES Corporation
 
$
(7
)
 
$
(20
)
Amortization of defined benefit pension actuarial loss, net
 
 
 
 
General and administrative expenses
 
$
(1
)
 
$
1

 
 
Income from continuing operations before taxes and equity in earnings of affiliates
 
(1
)
 
1

 
 
Income from continuing operations
 
(1
)
 
1

 
 
Net income (loss) from operations of discontinued businesses
 
(1
)
 
(7
)
 
 
Net income
 
(2
)
 
(6
)
 
 
Less: Net income from discontinued operations attributable to noncontrolling interest
 
—

 
5

 
 
Net income (loss) attributable to The AES Corporation
 
$
(2
)
 
$
(1
)
Total reclassifications for the period, net of income tax and noncontrolling interests
 
$
7

 
$
(24
)

Common Stock Dividends — The Parent Company paid dividends of $0.13 per outstanding share to its common stockholders during the first quarter of 2018 for dividends declared in December 2017.
On February 23, 2018, the Board of Directors declared a quarterly common stock dividend of $0.13 per share payable on May 15, 2018, to shareholders of record at the close of business on May 1, 2018.
v3.8.0.1
Segments
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
SEGMENTS
SEGMENTS
The segment reporting structure uses the Company’s management reporting structure as its foundation to reflect how the Company manages the businesses internally and is organized by geographic regions which provides a socio-political-economic understanding of our business. During the first quarter of 2018, the Andes and Brazil SBUs were merged in order to leverage scale and are now reported together as part of the South America SBU. Further, Puerto Rico and El Salvador businesses, formerly part of the MCAC SBU, were combined with the US SBU, which is now reported as the US and Utilities SBU. The management reporting structure is organized by four SBUs led by our President and Chief Executive Officer: US and Utilities, South America, MCAC, and Eurasia SBUs. Using the accounting guidance on segment reporting, the Company determined that its four operating segments are aligned with its four reportable segments corresponding to its SBUs. All prior period results have been retrospectively revised to reflect the new segment reporting structure.
Corporate and Other — The results of the Fluence equity affiliate are included in “Corporate and Other.” Also included are corporate overhead costs which are not directly associated with the operations of our four reportable segments, and certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation.
The Company uses Adjusted PTC as its primary segment performance measure. Adjusted PTC, a non-GAAP measure, is defined by the Company as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation. Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. The Company has concluded that Adjusted PTC better reflects the underlying business performance of the Company and is the most relevant measure considered in the Company’s internal evaluation of the financial performance of its segments. Additionally, given its large number of businesses and complexity, the Company concluded that Adjusted PTC is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the Company’s results.
Revenue and Adjusted PTC are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable. All intra-segment activity has been eliminated within the segment. Inter-segment activity has been eliminated within the total consolidated results.
The following tables present financial information by segment for the periods indicated (in millions):
 
Three Months Ended March 31,
Total Revenue
2018
 
2017
US and Utilities SBU
$
1,027

 
$
1,047

South America SBU
895

 
747

MCAC SBU
408

 
348

Eurasia SBU
419

 
429

Corporate and Other
9

 
14

Eliminations
(18
)
 
(4
)
Total Revenue
$
2,740

 
$
2,581


Three Months Ended March 31,
Total Adjusted PTC
2018
 
2017
Income from continuing operations before taxes and equity in earnings of affiliates
$
998

 
$
157

Add: Net equity in earnings of affiliates
11

 
7

Less: Income from continuing operations before taxes, attributable to noncontrolling interests
(126
)
 
(168
)
Pre-tax contribution
883

 
(4
)
Unrealized derivative and equity securities losses (gains)
12

 
(1
)
Unrealized foreign currency gains
(3
)
 
(9
)
Disposition/acquisition losses (gains)
(778
)
 
52

Impairment expense
—

 
168

Losses (gains) on extinguishment of debt
171

 
(16
)
Restructuring costs
3

 
—

Total Adjusted PTC
$
288

 
$
190


 
Three Months Ended March 31,
Total Adjusted PTC
2018
 
2017
US and Utilities SBU
$
120

 
$
61

South America SBU
136

 
127

MCAC SBU
53

 
46

Eurasia SBU
83

 
77

Corporate and Other
(104
)
 
(121
)
Total Adjusted PTC
$
288

 
$
190


Total Assets
March 31, 2018
 
December 31, 2017
US and Utilities SBU
$
11,633

 
$
11,297

South America SBU
11,113

 
10,874

MCAC SBU
4,322

 
4,087

Eurasia SBU
4,855

 
4,557

Assets of discontinued operations and held-for-sale businesses
358

 
2,034

Corporate and Other
292

 
263

Total Assets
$
32,573

 
$
33,112
v3.8.0.1
Revenue (Notes)
 3 Months Ended
Mar. 31, 2018
Revenue from Contracts with Customers [Abstract]  
Revenue from Contract with Customer [Text Block]
REVENUE
Revenue is earned from the sale of electricity from our utilities and the production and sale of electricity and capacity from our generation facilities. Revenue is recognized upon the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Revenue is recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities.
Utilities — Our utilities sell electricity directly to end-users, such as homes and businesses, and bill customers directly. The majority of our utility contracts have a single performance obligation, as the promises to transfer energy, capacity, and other distribution and/or transmission services are not distinct. Additionally, as the performance obligation is satisfied over time as energy is delivered, and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. Utility revenue is classified as regulated on the Condensed Consolidated Statements of Operations.
In exchange for the right to sell or distribute electricity in a service territory, our utility businesses are subject to government regulation. This regulation sets the framework for the prices (“tariffs”) that our utilities are allowed to charge customers for electricity. Since tariffs are determined by the regulator, the price that our utilities have the right to bill corresponds directly with the value to the customer of the utility's performance completed in each period. The Company also has some month-to-month contracts. Revenue under these contracts is recognized using an output method measured by the MWh delivered each month, which best depicts the transfer of goods or services to the customer, at the approved tariff.
The Company has businesses where it sells and purchases power to and from ISOs and RTOs. Our utility businesses generally purchase power to satisfy the demand of customers that is not contracted through separate PPAs. In these instances, the Company accounts for these transactions on a net hourly basis because the transactions are settled on a net hourly basis. In limited situations, a utility customer may choose to receive generation services from a third-party provider, in which case the Company may serve as a billing agent for the provider and recognize revenue on a net basis.
Generation — Most of our generation fleet sells electricity under contracts to customers such as utilities, industrial users, and other intermediaries. Our generation contracts, based on specific facts and circumstances, can have one or more performance obligations as the promise to transfer energy, capacity, and other services may or may not be distinct depending on the nature of the market and terms of the contract. Similar to our utilities businesses, as the performance obligations are generally satisfied over time and use the same method to measure progress, the performance obligations meet the criteria to be considered a series. In measuring progress toward satisfaction of a performance obligation, the Company applies the "right to invoice" practical expedient when available, and recognizes revenue in the amount to which the Company has a right to consideration from a customer that corresponds directly with the value of the performance completed to date. Revenue from generation businesses is classified as non-regulated on the Condensed Consolidated Statements of Operations.
For contracts determined to have multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price using a market or expected cost plus margin approach. Additionally, the Company allocates variable consideration to one or more, but not all, distinct goods or services that form part of a single performance obligation when (1) the variable consideration relates specifically to the efforts to transfer the distinct good or service and (2) the variable consideration depicts the amount to which the Company expects to be entitled in exchange for transferring the promised good or service to the customer.
Revenue from generation contracts is recognized using an output method, as energy and capacity delivered best depicts the transfer of goods or services to the customer. Performance obligations including energy or ancillary services (such as operations and maintenance and dispatch services) are generally measured by the MWh delivered. Capacity, which is a stand-ready obligation to deliver energy when required by the customer, is measured using MWs. In certain contracts, if plant availability exceeds a contractual target, the Company may receive a performance bonus payment, or if the plant availability falls below a guaranteed minimum target, we may incur a non-availability penalty. Such bonuses or penalties represent a form of variable consideration and are estimated and recognized when it is probable that there will not be a significant reversal.
In assessing whether variable quantities are considered variable consideration or an option to acquire additional goods and services, the Company evaluates the nature of the promise and the legally enforceable rights in the contract. In some contracts, such as requirement contracts, the legally enforceable rights merely give the customer a right to purchase additional goods and services which are distinct. In these contracts, the customer's action results in a new obligation, and the variable quantities are considered an option.
When energy or capacity is sold or purchased in the spot market or to ISOs, the Company assesses the facts and circumstances to determine gross versus net presentation of spot revenues and purchases. Generally, the nature of the performance obligation is to sell surplus energy or capacity above contractual commitments, or to purchase energy or capacity to satisfy deficits. Generally, on an hourly basis, a generator is either a net seller or a net buyer in terms of the amount of energy or capacity transacted with the ISO. In these situations, the Company recognizes revenue for the hours where the generator is a net seller and cost of sales for the hours where the generator is a net buyer.
Certain generation contracts contain operating leases where capacity payments are generally considered the lease elements. In such cases, the allocation between the lease and non-lease elements is made at the inception of the lease following the guidance in ASC 840. Minimum lease payments from such contracts are recognized as revenue on a straight-line basis over the lease term whereas contingent rentals are recognized when earned. Lease revenue is presented separately from revenue from contracts with customers below.
The following table presents our revenue from contracts with customers and other revenue for the period ended March 31, 2018 (in millions):
 
US and Utilities SBU
 
South America SBU
 
MCAC SBU
 
Eurasia SBU
 
Corp and Other/ Eliminations
 
Total
Regulated Revenue
 
 
 
 
 
 
 
 
 
 
 
Revenue from contracts with customers
$
711

 
$
—

 
$
—

 
$
—

 
$
—

 
$
711

Other regulated revenue
11

 
—

 
—

 
—

 
—

 
11

Total regulated revenue
$
722

 
$
—

 
$
—

 
$
—

 
$
—

 
$
722

Non-Regulated Revenue
 
 
 
 
 
 
 
 
 
 
 
Revenue from contracts with customers
$
208

 
$
894

 
$
387

 
$
331

 
$
(9
)
 
$
1,811

Other non-regulated revenue (1)
97

 
1

 
21

 
88

 
—

 
207

Total non-regulated revenue
$
305

 
$
895

 
$
408

 
$
419

 
$
(9
)
 
$
2,018

Total revenue
$
1,027

 
$
895

 
$
408

 
$
419

 
$
(9
)
 
$
2,740


_____________________________
(1) 
Other non-regulated revenue primarily includes lease and derivative revenue not accounted for under ASC 606.
Contract Balances — The timing of revenue recognition, billings, and cash collections results in accounts receivable and contract liabilities. Accounts receivable represent unconditional rights to consideration and consist of both billed amounts and unbilled amounts typically resulting from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer. We bill both generation and utilities customers on a contractually agreed-upon schedule, typically at periodic intervals (e.g., monthly). The calculation of revenue earned but not yet billed is based on the number of days not billed in the month, the estimated amount of energy delivered during those days and the estimated average price per customer class for that month.
Our contract liabilities consist of deferred revenue which is classified as current or noncurrent based on the timing of when we expect to recognize revenue. The current portion of our contract liabilities is reported in Accrued and other liabilities and the noncurrent portion is reported in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The contract liabilities from contracts with customers were $110 million and $115 million as of March 31, 2018 and January 1, 2018, respectively.
Of the $115 million of contract liabilities reported at January 1, 2018, $22 million was recognized as revenue during the period ended March 31, 2018.
A significant financing arrangement exists for our Mong Duong plant in Vietnam. The plant was constructed under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25 year PPA. The performance obligation to construct the facility was substantially completed in 2015. Approximately $1.5 billion of contract consideration related to the construction, but not yet collected through the 25 year PPA, was recorded as a loan receivable as of March 31, 2018.
Remaining Performance Obligations — The transaction price allocated to remaining performance obligations represents future consideration for unsatisfied (or partially unsatisfied) performance obligations at the end of the reporting period. As of March 31, 2018, the aggregate amount of transaction price allocated to remaining performance obligations was $21 million, primarily consisting of fixed consideration for the sale of renewable energy credits (RECs) in long-term contracts in the U.S. We expect to recognize revenue on approximately one-quarter of the remaining performance obligations in 2018, with the remainder recognized thereafter. The Company has elected to apply the optional disclosure exemptions under ASC 606. Therefore, the amount above excludes contracts with an original length of one year or less, contracts for which we recognize revenue based on the amount we have the right to invoice for services performed, and variable consideration allocated entirely to a wholly unsatisfied performance obligation when the consideration relates specifically to our efforts to satisfy the performance obligation and depicts the amount to which we expect to be entitled. As such, consideration for energy is excluded from the amounts above as the variable consideration relates to the amount of energy delivered and reflects the value the Company expects to receive for the energy transferred. Estimates of revenue expected to be recognized in future periods also exclude unexercised customer options to purchase additional goods or services that do not represent material rights to the customer.
v3.8.0.1
Other Income and Expense
 3 Months Ended
Mar. 31, 2018
Other Income and Expenses [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
OTHER INCOME AND EXPENSE
Other income generally includes gains on asset sales and liability extinguishments, favorable judgments on contingencies, gains on contract terminations, allowance for funds used during construction and other income from miscellaneous transactions. Other expense generally includes losses on asset sales and dispositions, losses on legal contingencies, defined benefit plan non-service costs, and losses from other miscellaneous transactions. The components are summarized as follows (in millions):
 
 
Three Months Ended March 31,
 
 
2018
 
2017
Other Income
Legal settlements (1)
$
—

 
$
60

 
Allowance for funds used during construction (US Utilities)
5

 
7

 
Other
8

 
6

 
Total other income
$
13

 
$
73

 
 
 
 
 
Other Expense
Loss on sale and disposal of assets
$
2

 
$
21

 
Defined benefit plan non-service costs (2)
5

 
3

 
Other
2

 
—

 
Total other expense
$
9

 
$
24


_____________________________
(1) 
In December 2016, the Company and YPF entered into a settlement agreement in which all parties agreed to give up any and all legal action related to gas supply contracts that were terminated in 2008 and have been in dispute since 2009. In January 2017, the YPF board approved the agreement and paid the Company $60 million, thereby resolving all uncertainties around the dispute.
(2) 
As of January 1, 2018, the Company retrospectively adopted ASU 2017-07, Compensation —Retirement Benefits. As such, $3 million of non-service costs associated with defined benefit plans for the three months ended March 31, 2017 were reclassified from Cost of Sales to Other Expense.
v3.8.0.1
Asset Impairment Expense
 3 Months Ended
Mar. 31, 2018
Impairment or Disposal of Tangible Assets Disclosure [Abstract]  
ASSET IMPAIRMENT EXPENSE
ASSET IMPAIRMENT EXPENSE
There was no asset impairment expense for the three months ended March 31, 2018. The following table summarizes the asset impairment expense for the three months ended March 31, 2017:
(in millions)
 
Three Months Ended March 31, 2017
Kazakhstan CHPs
 
$
94

DPL
 
66

Other
 
8

Total
 
$
168


DPL — In March 2017, the Board of Directors of DPL approved the retirement of the DPL operated and co-owned Stuart coal-fired and diesel-fired generating units, and the Killen coal-fired generating unit and combustion turbine on or before June 1, 2018. The Company performed an impairment analysis and determined that the carrying amounts of the facilities were not recoverable. The Stuart and Killen asset groups were determined to have fair values of $3 million and $8 million, respectively, using the income approach. As a result, the Company recognized total asset impairment expense of $66 million. DPL is reported in the US and Utilities SBU reportable segment.
Kazakhstan CHPs — In January 2017, the Company entered into an agreement for the sale of Ust-Kamenogorsk CHP and Sogrinsk CHP, its combined heating and power coal plants in Kazakhstan. Upon meeting the held-for-sale criteria in the first quarter of 2017, the Company performed an impairment analysis and determined that the carrying value of the asset group of $171 million, which included cumulative translation losses of $92 million, was greater than its fair value less costs to sell of $29 million. As a result, the Company recognized asset impairment expense of $94 million limited to the carrying value of the long-lived assets. The Company completed the sale of its interest in the Kazakhstan CHP plants in April 2017. Prior to their sale, the plants were reported in the Eurasia SBU reportable segment.
v3.8.0.1
Dispositions (Notes)
 3 Months Ended
Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
DISPOSITIONS AND HELD-FOR-SALE BUSINESSES
DISCONTINUED OPERATIONS
Due to a portfolio evaluation in the first half of 2016, management decided to pursue a strategic shift of its distribution companies in Brazil, Sul and Eletropaulo, to reduce the Company's exposure to the Brazilian distribution market. The disposal of Sul was completed in October 2016.
Eletropaulo — In November 2017, Eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares into the Novo Mercado, which is a listing segment of the Brazilian stock exchange with the highest standards of corporate governance. Upon conversion of the preferred shares into ordinary shares, AES no longer controlled Eletropaulo, but maintained significant influence over the business. As a result, the Company deconsolidated Eletropaulo. After deconsolidation, the Company's 17% ownership interest was reflected as an equity method investment. The Company recorded an after-tax loss on deconsolidation of $611 million, which primarily consisted of $455 million related to cumulative translation losses and $243 million related to pension losses reclassified from AOCL.
In December 2017, all the remaining criteria were met for Eletropaulo to qualify as a discontinued operation. Therefore, its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented. Prior to its classification as discontinued operations, Eletropaulo was reported in the South America SBU reportable segment.
The following table summarizes the carrying amounts of the major classes of assets and liabilities of discontinued operations at March 31, 2018 and December 31, 2017:
(in millions)
March 31, 2018
 
December 31, 2017
Assets of discontinued operations and held-for-sale businesses:
 
 
 
Investments in and advances to affiliates (1)
$
89

 
$
86

Total assets of discontinued operations
$
89

 
$
86

Other assets of businesses classified as held-for-sale (2)
269

 
1,948

Total assets of discontinued operations and held-for-sale businesses
$
358

 
$
2,034

Liabilities of discontinued operations and held-for-sale businesses:
 
 
 
Other liabilities of businesses classified as held-for-sale (2)
63

 
1,033

Total liabilities of discontinued operations and held-for-sale businesses
$
63

 
$
1,033

 _____________________________
(1) 
Represents the Company's 17% ownership interest in Eletropaulo.
(2) 
Electrica Santiago was classified as held-for-sale as of March 31, 2018 and December 31, 2017, and the DPL Peaker Assets and Masinloc were classified as held-for-sale as of December 31, 2017. See Note 17—Held-for-Sale Businesses and Dispositions for further information.
Income from discontinued operations and cash flows from operating and investing activities of discontinued operations were immaterial for the three months ended March 31, 2018.
The following table summarizes the major line items constituting income from discontinued operations for the three months ended March 31, 2017 (in millions):
Income from discontinued operations, net of tax:
Three Months Ended March 31, 2017
Revenue — regulated
$
919

Cost of sales
(874
)
Other income and expense items that are not major
(42
)
Income from discontinued operations
3

Less: Net income attributable to noncontrolling interests
(1
)
Income from discontinued operations attributable to The AES Corporation
2

Income tax expense
(2
)
Income from discontinued operations, net of tax
$
—


The following table summarizes the operating and investing cash flows from discontinued operations for the three months ended March 31, 2017 (in millions):
 
Three Months Ended March 31, 2017
Cash flows provided by operating activities of discontinued operations
$
168

Cash flows used in investing activities of discontinued operations
(127
)
HELD-FOR-SALE BUSINESSES AND DISPOSITIONS
Held-for-Sale Businesses
Electrica Santiago — In December 2017, AES Gener entered into an agreement to sell Electrica Santiago, comprised of four gas and diesel-fired generation plants in Chile, for $300 million, subject to customary purchase price adjustments. The sale is expected to close during the first half of 2018, subject to conditions precedent in the agreement. As of March 31, 2018, Electrica Santiago was classified as held-for-sale, but did not meet the criteria to be reported as discontinued operations. Electrica Santiago's carrying value at March 31, 2018 was $207 million. Electrica Santiago is reported in the South America SBU reportable segment. Pre-tax income attributable to AES was immaterial for the three months ended March 31, 2018 and 2017.
Dispositions
Masinloc — On March 20, 2018, the Company completed the sale of its entire 51% equity interest in Masinloc for cash proceeds of $1.05 billion, subject to customary post-closing adjustments, resulting in a pretax gain on sale of $777 million and U.S. tax expense of $155 million. Masinloc consisted of a coal-fired generation plant in operation, a coal-fired generation plant under construction, and an energy storage facility all located in the Philippines. The sale did not meet the criteria to be reported as discontinued operations. Prior to its sale, Masinloc was reported in the Eurasia SBU reportable segment.
DPL Peaker Assets — On March 27, 2018, DPL completed the sale of six of its combustion turbine and diesel-fired generation facilities and related assets ("DPL peaker assets") for total proceeds of $239 million, inclusive of estimated working capital and subject to customary post-closing adjustments, resulting in a loss on sale of $2 million. The sale did not meet the criteria to be reported as discontinued operations. Prior to their sale, the DPL peaker assets were reported in the US and Utilities SBU reportable segment.
Beckjord Facility — On February 26, 2018, DPL transferred its interest in Beckjord, a coal-fired generation facility retired in 2014, including its obligations to remediate the facility and its site. The transfer resulted in cash expenditures of $15 million, inclusive of disposal charges, and a loss on disposal of $12 million. Prior to the transfer, Beckjord was reported in the US and Utilities SBU reportable segment.
Advancion Energy Storage — On January 1, 2018, the Company deconsolidated the AES Advancion energy storage development business and contributed it to the Fluence joint venture, resulting in a gain on sale of $23 million. See Note 6—Investments in and Advances to Affiliates for further discussion. Prior to the transfer, the AES Advancion energy storage development business was reported as part of Corp and Other.
Excluding any impairment charges or gain/loss on sale, pre-tax income attributable to AES of disposed businesses was as follows:
 
Three Months Ended March 31,
(in millions)
2018
 
2017
Masinloc
$
9

 
$
23

DPL Peaker Assets
7

 
—

Total
$
16

 
$
23
v3.8.0.1
Acquisitions
 3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  
Acquisitions
ACQUISITIONS
Bauru Solar Complex — In September 2017, AES Tietê executed an investment agreement with Cobra do Brasil to provide approximately $140 million of non-convertible debentures in project financing for the construction of photovoltaic solar plants in Brazil. As of March 31, 2018, $78 million of non-convertible debentures have been executed and distributed to the project. Upon completion of the project, expected in the third quarter of 2018, and subject to the solar plants’ compliance with certain technical specifications defined in the agreement, Tietê expects to acquire the solar complex in exchange for the non-convertible debentures and an additional investment of approximately $55 million.
Alto Sertão II — In the first quarter of 2018, the Company finalized the purchase price allocation related to the acquisition of Alto Sertão II. There were no significant adjustments made to the preliminary purchase price allocation recorded in the third quarter of 2017 when the acquisition was completed. The assets acquired and liabilities assumed at the acquisition date were recorded at fair value, including a contingent liability for earn-out payments of $18 million, based on the final purchase price allocation at March 31, 2018. Subsequent changes to the fair value of the earn-out payments will be reflected in earnings.
v3.8.0.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic and diluted earnings per share are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for purposes of determining diluted earnings per share, includes the effects of dilutive RSUs, stock options and convertible securities. The effect of such potential common stock is computed using the treasury stock method or the if-converted method, as applicable.
The following table is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for income (loss) from continuing operations for the three months ended March 31, 2018 and 2017, where income or loss represents the numerator and weighted average shares represent the denominator.
Three Months Ended March 31,
2018
 
2017
(in millions, except per share data)
Income
 
Shares
 
$ per Share
 
Loss
 
Shares
 
$ per Share
 
 
 
 
 
 
 
 
 
 
 
 
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to The AES Corporation common stockholders
$
685

 
661

 
$
1.04

 
$
(24
)
 
659

 
$
(0.04
)
EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 
 
 
 
 
 
 
Restricted stock units
—

 
2

 
(0.01
)
 
—

 
—

 
—

DILUTED EARNINGS PER SHARE
$
685

 
663

 
$
1.03

 
$
(24
)
 
659

 
$
(0.04
)

The calculation of diluted earnings per share excluded stock awards and convertible debentures which would be anti-dilutive. The calculation of diluted earnings per share excluded 6 million and 7 million stock awards outstanding for the three months ended March 31, 2018 and 2017, respectively, that could potentially dilute basic earnings per share in the future. Additionally, for the three months ended March 31, 2017, all 15 million convertible debentures were excluded from the earnings per share calculation. The Company redeemed all of its existing convertible debentures in June 2017.
For the three months ended March 31, 2017, the calculation of diluted earnings per share also excluded 4 million outstanding restricted stock units that could potentially dilute earnings per share in the future because their impact would be anti-dilutive given the loss from continuing operations. Had the Company generated income, 3 million potential shares of common stock related to the restricted stock units would have been included in diluted average shares outstanding.
v3.8.0.1
Subsequent Events Subsequent Events (Notes)
 3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
SUBSEQUENT EVENTS
Simple Energy — On April 9, 2018, the Company invested $34 million in Simple Energy, the leading provider of utility-branded marketplaces and omni-channel instant rebates. As the Company does not control Simple Energy, it will be accounted for as an equity method investment and will be reported in the US and Utilities SBU reportable segment.
Eletropaulo — On May 2, 2018, the Brazilian securities regulator, CVM, announced it will host a sales process, to be held on June 4, 2018, in which interested bidders will compete to purchase a controlling interest of Eletropaulo.
v3.8.0.1
Discontinued Operations and Held for sale businesses (Notes)
 3 Months Ended
Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
DISCONTINUED OPERATIONS
Due to a portfolio evaluation in the first half of 2016, management decided to pursue a strategic shift of its distribution companies in Brazil, Sul and Eletropaulo, to reduce the Company's exposure to the Brazilian distribution market. The disposal of Sul was completed in October 2016.
Eletropaulo — In November 2017, Eletropaulo converted its preferred shares into ordinary shares and transitioned the listing of those shares into the Novo Mercado, which is a listing segment of the Brazilian stock exchange with the highest standards of corporate governance. Upon conversion of the preferred shares into ordinary shares, AES no longer controlled Eletropaulo, but maintained significant influence over the business. As a result, the Company deconsolidated Eletropaulo. After deconsolidation, the Company's 17% ownership interest was reflected as an equity method investment. The Company recorded an after-tax loss on deconsolidation of $611 million, which primarily consisted of $455 million related to cumulative translation losses and $243 million related to pension losses reclassified from AOCL.
In December 2017, all the remaining criteria were met for Eletropaulo to qualify as a discontinued operation. Therefore, its results of operations and financial position were reported as such in the consolidated financial statements for all periods presented. Prior to its classification as discontinued operations, Eletropaulo was reported in the South America SBU reportable segment.
The following table summarizes the carrying amounts of the major classes of assets and liabilities of discontinued operations at March 31, 2018 and December 31, 2017:
(in millions)
March 31, 2018
 
December 31, 2017
Assets of discontinued operations and held-for-sale businesses:
 
 
 
Investments in and advances to affiliates (1)
$
89

 
$
86

Total assets of discontinued operations
$
89

 
$
86

Other assets of businesses classified as held-for-sale (2)
269

 
1,948

Total assets of discontinued operations and held-for-sale businesses
$
358

 
$
2,034

Liabilities of discontinued operations and held-for-sale businesses:
 
 
 
Other liabilities of businesses classified as held-for-sale (2)
63

 
1,033

Total liabilities of discontinued operations and held-for-sale businesses
$
63

 
$
1,033

 _____________________________
(1) 
Represents the Company's 17% ownership interest in Eletropaulo.
(2) 
Electrica Santiago was classified as held-for-sale as of March 31, 2018 and December 31, 2017, and the DPL Peaker Assets and Masinloc were classified as held-for-sale as of December 31, 2017. See Note 17—Held-for-Sale Businesses and Dispositions for further information.
Income from discontinued operations and cash flows from operating and investing activities of discontinued operations were immaterial for the three months ended March 31, 2018.
The following table summarizes the major line items constituting income from discontinued operations for the three months ended March 31, 2017 (in millions):
Income from discontinued operations, net of tax:
Three Months Ended March 31, 2017
Revenue — regulated
$
919

Cost of sales
(874
)
Other income and expense items that are not major
(42
)
Income from discontinued operations
3

Less: Net income attributable to noncontrolling interests
(1
)
Income from discontinued operations attributable to The AES Corporation
2

Income tax expense
(2
)
Income from discontinued operations, net of tax
$
—


The following table summarizes the operating and investing cash flows from discontinued operations for the three months ended March 31, 2017 (in millions):
 
Three Months Ended March 31, 2017
Cash flows provided by operating activities of discontinued operations
$
168

Cash flows used in investing activities of discontinued operations
(127
)
HELD-FOR-SALE BUSINESSES AND DISPOSITIONS
Held-for-Sale Businesses
Electrica Santiago — In December 2017, AES Gener entered into an agreement to sell Electrica Santiago, comprised of four gas and diesel-fired generation plants in Chile, for $300 million, subject to customary purchase price adjustments. The sale is expected to close during the first half of 2018, subject to conditions precedent in the agreement. As of March 31, 2018, Electrica Santiago was classified as held-for-sale, but did not meet the criteria to be reported as discontinued operations. Electrica Santiago's carrying value at March 31, 2018 was $207 million. Electrica Santiago is reported in the South America SBU reportable segment. Pre-tax income attributable to AES was immaterial for the three months ended March 31, 2018 and 2017.
Dispositions
Masinloc — On March 20, 2018, the Company completed the sale of its entire 51% equity interest in Masinloc for cash proceeds of $1.05 billion, subject to customary post-closing adjustments, resulting in a pretax gain on sale of $777 million and U.S. tax expense of $155 million. Masinloc consisted of a coal-fired generation plant in operation, a coal-fired generation plant under construction, and an energy storage facility all located in the Philippines. The sale did not meet the criteria to be reported as discontinued operations. Prior to its sale, Masinloc was reported in the Eurasia SBU reportable segment.
DPL Peaker Assets — On March 27, 2018, DPL completed the sale of six of its combustion turbine and diesel-fired generation facilities and related assets ("DPL peaker assets") for total proceeds of $239 million, inclusive of estimated working capital and subject to customary post-closing adjustments, resulting in a loss on sale of $2 million. The sale did not meet the criteria to be reported as discontinued operations. Prior to their sale, the DPL peaker assets were reported in the US and Utilities SBU reportable segment.
Beckjord Facility — On February 26, 2018, DPL transferred its interest in Beckjord, a coal-fired generation facility retired in 2014, including its obligations to remediate the facility and its site. The transfer resulted in cash expenditures of $15 million, inclusive of disposal charges, and a loss on disposal of $12 million. Prior to the transfer, Beckjord was reported in the US and Utilities SBU reportable segment.
Advancion Energy Storage — On January 1, 2018, the Company deconsolidated the AES Advancion energy storage development business and contributed it to the Fluence joint venture, resulting in a gain on sale of $23 million. See Note 6—Investments in and Advances to Affiliates for further discussion. Prior to the transfer, the AES Advancion energy storage development business was reported as part of Corp and Other.
Excluding any impairment charges or gain/loss on sale, pre-tax income attributable to AES of disposed businesses was as follows:
 
Three Months Ended March 31,
(in millions)
2018
 
2017
Masinloc
$
9

 
$
23

DPL Peaker Assets
7

 
—

Total
$
16

 
$
23
v3.8.0.1
Risks and Uncertainties (Notes)
 3 Months Ended
Mar. 31, 2018
Unusual Risk or Uncertainty [Line Items]  
Unusual Risks and Uncertainties [Table Text Block]
RISKS AND UNCERTAINTIES
Alto Maipo — As discussed in Item 8—Financial Statements and Supplementary Data of the 2017 Form 10-K, Alto Maipo, a hydroelectric facility near Santiago Chile, has experienced construction difficulties which have resulted in increased projected costs over the original $2 billion budget. In May 2018, Alto Maipo and the project’s senior lenders signed all agreements related to the financial restructuring of the project, which will become effective upon the completion of customary conditions. If Alto Maipo is unable to meet certain construction milestones, there could be a material impact to the financing and value of the project. For additional information on risks regarding construction and development, refer to Item 1A.—Risk Factors—Our Business is Subject to Substantial Development Uncertainties of the 2017 Form 10-K.
The carrying value of the long-lived assets and deferred tax assets of Alto Maipo as of March 31, 2018 was approximately $1.5 billion and $55 million, respectively.
v3.8.0.1
Income Taxes (Notes)
 3 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Text Block]
INCOME TAXES
The Company’s provision for income taxes is based on the estimated annual effective tax rate, plus discrete items. The effective tax rates for the three months ended March 31, 2018 and 2017 were 23% and 43%, respectively. The difference between the Company’s effective tax rates for the three months ended March 31, 2018 and 2017 and the U.S. statutory tax rates of 21% and 35%, respectively, primarily relates to U.S. taxes on foreign earnings, foreign tax rate differentials, and nondeductible expenses.
The Tax Cuts and Jobs Act (“The 2017 Act”) was enacted on December 22, 2017. The 2017 Act reduced the U.S. federal corporate income tax rate from 35% to 21%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings. We are applying the guidance in Staff Accounting Bulletin No. 118 (“SAB 118”) when accounting for the enactment-date effect of the 2017 Act. We recognized a reasonable estimate of the tax effects of the 2017 Act as of December 31, 2017. However, as of March 31, 2018, our accounting is not complete. We will continue to refine our calculations as additional analysis is completed. Our estimates may also be affected as we gain a more thorough understanding of the tax law. The changes could be material to income tax expense.
In the first quarter of 2018, the Company completed the sale of its entire 51% equity interest in Masinloc, resulting in pre-tax gain of approximately $777 million. The sale resulted in approximately $155 million of discrete tax expense in the U.S. under the new GILTI provision, which subjects the earnings of foreign subsidiaries to current U.S. taxation to the extent those earnings exceed an allowable return. See Note 17—Held-for-Sale Businesses and Dispositions for details of the sale.
v3.8.0.1
Financial Statement Presentation (Policies)
 3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation
Consolidation — In this Quarterly Report the terms “AES,” “the Company,” “us” or “we” refer to the consolidated entity, including its subsidiaries and affiliates. The terms “The AES Corporation” or “the Parent Company” refer only to the publicly held holding company, The AES Corporation, excluding its subsidiaries and affiliates. Furthermore, VIEs in which the Company has a variable interest have been consolidated where the Company is the primary beneficiary. Investments in which the Company has the ability to exercise significant influence, but not control, are accounted for using the equity method of accounting. All intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation and Significant Accounting Policies [Text Block]
Interim Financial Presentation — The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with GAAP, as contained in the FASB ASC, for interim financial information and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for annual fiscal reporting periods. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations, financial position, comprehensive income, and cash flows. The results of operations for the three months ended March 31, 2018, are not necessarily indicative of expected results for the year ending December 31, 2018. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the 2017 audited consolidated financial statements and notes thereto, which are included in the 2017 Form 10-K filed with the SEC on February 26, 2018 (the “2017 Form 10-K”).
New Accounting Pronouncements Adopted
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9

New Accounting Pronouncements Adopted in 2018 — The following table provides a brief description of recent accounting pronouncements that had an impact on the Company’s consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Adopted
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
This standard changes the presentation of non-service costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization.
Transition method: retrospective for presentation of non-service cost and prospective for the change in capitalization.
January 1, 2018
No material impact upon adoption of the standard.
2017-05, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also provides guidance on how gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to non-customers are recognized. The standard also clarifies that the derecognition of businesses is under the scope of ASC 810. The standard must be adopted concurrently with ASC 606, however an entity will not have to apply the same transition method as ASC 606.
Transition method: modified retrospective.
January 1, 2018
As more transactions will not meet the definition of a business due to the adoption of ASU 2017-01, more dispositions or partial sales will be out of the scope of ASC 810 and will be under this standard.

2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business
The standard requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and if that threshold is met, the set is not a business. As a second step, to be considered a business at least one substantive process should exist. The revised definition of a business will reduce the number of transactions that are accounted for as business combinations.
Transition method: prospective.
January 1, 2018
Some acquisitions and dispositions will now fall under a different accounting model.
2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)
This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.
Transition method: retrospective.
January 1, 2018
For the three months ending March 31, 2017, cash provided by operating activities increased by $5 million, cash used in investing activities decreased by $23 million, and cash used in financing activities was unchanged.
2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also it amends certain disclosures of financial instruments.
Transition method: modified retrospective. Prospective for equity investments without readily determine fair value.
January 1, 2018
No material impact upon adoption of the standard.
2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-10, 2017-13, Revenue from Contracts with Customers (Topic 606)

See discussion of the ASU below.
January 1, 2018
See impact upon adoption of the standard below.
On January 1, 2018, the Company adopted ASU 2014-09, "Revenue from Contracts with Customers," and its subsequent corresponding updates ("ASC 606"). Under this standard, an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applied the modified retrospective method of adoption to the contracts that were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous revenue recognition standard. For contracts that were modified before January 1, 2018, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461


The Mong Duong II power plant in Vietnam is the primary driver of changes in revenue recognition under the new standard. This plant is operated under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25-year PPA. Under the previous revenue recognition standard, construction costs were deferred to a service concession asset, which was expensed in proportion to revenue recognized for the construction element over the term of the PPA. Under ASC 606, construction revenue and associated costs are recognized as construction activity occurs. As construction of the plant was substantially completed in 2015, revenues and costs associated with the construction were recognized through retained earnings, and the service concession asset was derecognized. A loan receivable was recognized for the future expected payments for the construction performance obligation. As the payments for the construction performance obligation occur over a 25-year term, a significant financing element was determined to exist which is accounted for under the effective interest rate method. The other performance obligation to operate and maintain the facility is measured based on the capacity made available.
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9


New Accounting Pronouncements Issued But Not Yet Effective — The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s consolidated financial statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued But Not Yet Effective
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI
This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities
The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings in the same income statement line as the hedged item.
Transition method: modified retrospective with the cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. Prospective for presentation and disclosures.
January 1, 2019. Early adoption is permitted.

The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Accounting for Certain Financial Instruments and Certain Mandatorily Redeemable Noncontrolling Interests
Part 1 of this standard changes the classification of certain equity-linked financial instruments when assessing whether the instrument is indexed to an entity’s own stock.
Transition method: retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
This standard shortens the period of amortization for the premium on certain callable debt securities to the earliest call date.
Transition method: modified retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This standard simplifies the accounting for goodwill impairment by removing the requirement to calculate the implied fair value. Instead, it requires that an entity records an impairment charge based on the excess of a reporting unit's carrying amount over its fair value.
Transition method: prospective.
January 1, 2020. Early adoption is permitted as of January 1, 2017.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities.
Transition method: various.
January 1, 2020. Early adoption is permitted only as of January 1, 2019.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-02, 2018-01, Leases (Topic 842)
See discussion of the ASU below.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases, and recognize expenses in a manner similar to the current accounting method. For Lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions.
The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under ASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets.
The Company has established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard.
As the Company has preliminarily concluded that at transition it would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which the Company is the lessee. However, income statement presentation and the expense recognition pattern is not expected to change.
Under ASC 842, it is expected that fewer contracts will contain a lease. However, due to the elimination of today's real estate-specific guidance and changes to certain lessor classification criteria, more leases will qualify as sales-type leases and direct financing leases. Under these two models, a lessor will derecognize the asset and will recognize a lease receivable. According to ASC 842, the lease receivable does not include variable payments that depend on the use of the asset (e.g. Mwh produced by a facility). Therefore, the lease receivable could be lower than the carrying amount of the underlying asset at lease commencement, In such circumstances, the difference between the initially recognized lease receivable and the carrying amount of the underlying asset is recognized as a selling loss at lease commencement. The Company is assessing how this guidance will apply to new renewable contracts executed or modified after the effective date where all the payments are contingent on the level of production and is also evaluating the related impact to the allocation of earnings under HLBV accounting.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461
Commitments and Contingencies
Litigation — The Company is involved in certain claims, suits and legal proceedings in the normal course of business. The Company accrues for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.
Segment Reporting
The segment reporting structure uses the Company’s management reporting structure as its foundation to reflect how the Company manages the businesses internally and is organized by geographic regions which provides a socio-political-economic understanding of our business. During the first quarter of 2018, the Andes and Brazil SBUs were merged in order to leverage scale and are now reported together as part of the South America SBU. Further, Puerto Rico and El Salvador businesses, formerly part of the MCAC SBU, were combined with the US SBU, which is now reported as the US and Utilities SBU. The management reporting structure is organized by four SBUs led by our President and Chief Executive Officer: US and Utilities, South America, MCAC, and Eurasia SBUs. Using the accounting guidance on segment reporting, the Company determined that its four operating segments are aligned with its four reportable segments corresponding to its SBUs. All prior period results have been retrospectively revised to reflect the new segment reporting structure.
Corporate and Other — The results of the Fluence equity affiliate are included in “Corporate and Other.” Also included are corporate overhead costs which are not directly associated with the operations of our four reportable segments, and certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation.
The Company uses Adjusted PTC as its primary segment performance measure. Adjusted PTC, a non-GAAP measure, is defined by the Company as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation. Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. The Company has concluded that Adjusted PTC better reflects the underlying business performance of the Company and is the most relevant measure considered in the Company’s internal evaluation of the financial performance of its segments. Additionally, given its large number of businesses and complexity, the Company concluded that Adjusted PTC is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the Company’s results.
Revenue and Adjusted PTC are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable. All intra-segment activity has been eliminated within the segment. Inter-segment activity has been eliminated within the total consolidated results.
v3.8.0.1
Contingencies and Commitments Contingencies and Commitments (Policies)
 3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies, Policy [Policy Text Block]
Litigation — The Company is involved in certain claims, suits and legal proceedings in the normal course of business. The Company accrues for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.
v3.8.0.1
Segments Segments (Policies)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Segment Reporting
The segment reporting structure uses the Company’s management reporting structure as its foundation to reflect how the Company manages the businesses internally and is organized by geographic regions which provides a socio-political-economic understanding of our business. During the first quarter of 2018, the Andes and Brazil SBUs were merged in order to leverage scale and are now reported together as part of the South America SBU. Further, Puerto Rico and El Salvador businesses, formerly part of the MCAC SBU, were combined with the US SBU, which is now reported as the US and Utilities SBU. The management reporting structure is organized by four SBUs led by our President and Chief Executive Officer: US and Utilities, South America, MCAC, and Eurasia SBUs. Using the accounting guidance on segment reporting, the Company determined that its four operating segments are aligned with its four reportable segments corresponding to its SBUs. All prior period results have been retrospectively revised to reflect the new segment reporting structure.
Corporate and Other — The results of the Fluence equity affiliate are included in “Corporate and Other.” Also included are corporate overhead costs which are not directly associated with the operations of our four reportable segments, and certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation.
The Company uses Adjusted PTC as its primary segment performance measure. Adjusted PTC, a non-GAAP measure, is defined by the Company as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses and associated benefits and costs due to dispositions and acquisitions of business interests, including early plant closures; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation. Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities. The Company has concluded that Adjusted PTC better reflects the underlying business performance of the Company and is the most relevant measure considered in the Company’s internal evaluation of the financial performance of its segments. Additionally, given its large number of businesses and complexity, the Company concluded that Adjusted PTC is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the Company’s results.
Revenue and Adjusted PTC are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees, and the write-off of intercompany balances, as applicable. All intra-segment activity has been eliminated within the segment. Inter-segment activity has been eliminated within the total consolidated results.
v3.8.0.1
Earnings Per Share EPS Policy (Policies)
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share, Policy [Policy Text Block]
Basic and diluted earnings per share are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for purposes of determining diluted earnings per share, includes the effects of dilutive RSUs, stock options and convertible securities. The effect of such potential common stock is computed using the treasury stock method or the if-converted method, as applicable.
v3.8.0.1
Financial Statement Presentation New Accounting Standards (Tables)
 3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The following table provides a brief description of recent accounting pronouncements that had an impact on the Company’s consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Adopted
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
This standard changes the presentation of non-service costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization.
Transition method: retrospective for presentation of non-service cost and prospective for the change in capitalization.
January 1, 2018
No material impact upon adoption of the standard.
2017-05, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also provides guidance on how gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to non-customers are recognized. The standard also clarifies that the derecognition of businesses is under the scope of ASC 810. The standard must be adopted concurrently with ASC 606, however an entity will not have to apply the same transition method as ASC 606.
Transition method: modified retrospective.
January 1, 2018
As more transactions will not meet the definition of a business due to the adoption of ASU 2017-01, more dispositions or partial sales will be out of the scope of ASC 810 and will be under this standard.

2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business
The standard requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and if that threshold is met, the set is not a business. As a second step, to be considered a business at least one substantive process should exist. The revised definition of a business will reduce the number of transactions that are accounted for as business combinations.
Transition method: prospective.
January 1, 2018
Some acquisitions and dispositions will now fall under a different accounting model.
2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)
This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.
Transition method: retrospective.
January 1, 2018
For the three months ending March 31, 2017, cash provided by operating activities increased by $5 million, cash used in investing activities decreased by $23 million, and cash used in financing activities was unchanged.
2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also it amends certain disclosures of financial instruments.
Transition method: modified retrospective. Prospective for equity investments without readily determine fair value.
January 1, 2018
No material impact upon adoption of the standard.
2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-10, 2017-13, Revenue from Contracts with Customers (Topic 606)

See discussion of the ASU below.
January 1, 2018
See impact upon adoption of the standard below.
On January 1, 2018, the Company adopted ASU 2014-09, "Revenue from Contracts with Customers," and its subsequent corresponding updates ("ASC 606"). Under this standard, an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applied the modified retrospective method of adoption to the contracts that were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous revenue recognition standard. For contracts that were modified before January 1, 2018, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461


The Mong Duong II power plant in Vietnam is the primary driver of changes in revenue recognition under the new standard. This plant is operated under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25-year PPA. Under the previous revenue recognition standard, construction costs were deferred to a service concession asset, which was expensed in proportion to revenue recognized for the construction element over the term of the PPA. Under ASC 606, construction revenue and associated costs are recognized as construction activity occurs. As construction of the plant was substantially completed in 2015, revenues and costs associated with the construction were recognized through retained earnings, and the service concession asset was derecognized. A loan receivable was recognized for the future expected payments for the construction performance obligation. As the payments for the construction performance obligation occur over a 25-year term, a significant financing element was determined to exist which is accounted for under the effective interest rate method. The other performance obligation to operate and maintain the facility is measured based on the capacity made available.
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9


New Accounting Pronouncements Issued But Not Yet Effective — The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s consolidated financial statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued But Not Yet Effective
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI
This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities
The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings in the same income statement line as the hedged item.
Transition method: modified retrospective with the cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. Prospective for presentation and disclosures.
January 1, 2019. Early adoption is permitted.

The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Accounting for Certain Financial Instruments and Certain Mandatorily Redeemable Noncontrolling Interests
Part 1 of this standard changes the classification of certain equity-linked financial instruments when assessing whether the instrument is indexed to an entity’s own stock.
Transition method: retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
This standard shortens the period of amortization for the premium on certain callable debt securities to the earliest call date.
Transition method: modified retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This standard simplifies the accounting for goodwill impairment by removing the requirement to calculate the implied fair value. Instead, it requires that an entity records an impairment charge based on the excess of a reporting unit's carrying amount over its fair value.
Transition method: prospective.
January 1, 2020. Early adoption is permitted as of January 1, 2017.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities.
Transition method: various.
January 1, 2020. Early adoption is permitted only as of January 1, 2019.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-02, 2018-01, Leases (Topic 842)
See discussion of the ASU below.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
v3.8.0.1
Financial Statement Presentation Cash, Cash Equivalents, and Restricted Cash (Tables)
 3 Months Ended
Mar. 31, 2018
Schedule of Cash and Cash Equivalents [Table Text Block]
Cash, Cash Equivalents, and Restricted Cash — The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Consolidated Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows (in millions):
 
March 31, 2018
 
December 31, 2017
Cash and cash equivalents
$
1,212

 
$
949

Restricted cash
415

 
274

Debt service reserves and other deposits
541

 
565

Cash, Cash Equivalents, and Restricted Cash
$
2,168

 
$
1,788
v3.8.0.1
Financial Statement Presentation Adoption of ASU 606 (Tables)
 3 Months Ended
Mar. 31, 2018
New Accounting Pronouncements, Policy [Policy Text Block]
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9

New Accounting Pronouncements Adopted in 2018 — The following table provides a brief description of recent accounting pronouncements that had an impact on the Company’s consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Adopted
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
This standard changes the presentation of non-service costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization.
Transition method: retrospective for presentation of non-service cost and prospective for the change in capitalization.
January 1, 2018
No material impact upon adoption of the standard.
2017-05, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also provides guidance on how gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to non-customers are recognized. The standard also clarifies that the derecognition of businesses is under the scope of ASC 810. The standard must be adopted concurrently with ASC 606, however an entity will not have to apply the same transition method as ASC 606.
Transition method: modified retrospective.
January 1, 2018
As more transactions will not meet the definition of a business due to the adoption of ASU 2017-01, more dispositions or partial sales will be out of the scope of ASC 810 and will be under this standard.

2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business
The standard requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and if that threshold is met, the set is not a business. As a second step, to be considered a business at least one substantive process should exist. The revised definition of a business will reduce the number of transactions that are accounted for as business combinations.
Transition method: prospective.
January 1, 2018
Some acquisitions and dispositions will now fall under a different accounting model.
2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)
This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.
Transition method: retrospective.
January 1, 2018
For the three months ending March 31, 2017, cash provided by operating activities increased by $5 million, cash used in investing activities decreased by $23 million, and cash used in financing activities was unchanged.
2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also it amends certain disclosures of financial instruments.
Transition method: modified retrospective. Prospective for equity investments without readily determine fair value.
January 1, 2018
No material impact upon adoption of the standard.
2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-10, 2017-13, Revenue from Contracts with Customers (Topic 606)

See discussion of the ASU below.
January 1, 2018
See impact upon adoption of the standard below.
On January 1, 2018, the Company adopted ASU 2014-09, "Revenue from Contracts with Customers," and its subsequent corresponding updates ("ASC 606"). Under this standard, an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applied the modified retrospective method of adoption to the contracts that were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous revenue recognition standard. For contracts that were modified before January 1, 2018, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461


The Mong Duong II power plant in Vietnam is the primary driver of changes in revenue recognition under the new standard. This plant is operated under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25-year PPA. Under the previous revenue recognition standard, construction costs were deferred to a service concession asset, which was expensed in proportion to revenue recognized for the construction element over the term of the PPA. Under ASC 606, construction revenue and associated costs are recognized as construction activity occurs. As construction of the plant was substantially completed in 2015, revenues and costs associated with the construction were recognized through retained earnings, and the service concession asset was derecognized. A loan receivable was recognized for the future expected payments for the construction performance obligation. As the payments for the construction performance obligation occur over a 25-year term, a significant financing element was determined to exist which is accounted for under the effective interest rate method. The other performance obligation to operate and maintain the facility is measured based on the capacity made available.
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9


New Accounting Pronouncements Issued But Not Yet Effective — The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s consolidated financial statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued But Not Yet Effective
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI
This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities
The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings in the same income statement line as the hedged item.
Transition method: modified retrospective with the cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. Prospective for presentation and disclosures.
January 1, 2019. Early adoption is permitted.

The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Accounting for Certain Financial Instruments and Certain Mandatorily Redeemable Noncontrolling Interests
Part 1 of this standard changes the classification of certain equity-linked financial instruments when assessing whether the instrument is indexed to an entity’s own stock.
Transition method: retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
This standard shortens the period of amortization for the premium on certain callable debt securities to the earliest call date.
Transition method: modified retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This standard simplifies the accounting for goodwill impairment by removing the requirement to calculate the implied fair value. Instead, it requires that an entity records an impairment charge based on the excess of a reporting unit's carrying amount over its fair value.
Transition method: prospective.
January 1, 2020. Early adoption is permitted as of January 1, 2017.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities.
Transition method: various.
January 1, 2020. Early adoption is permitted only as of January 1, 2019.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-02, 2018-01, Leases (Topic 842)
See discussion of the ASU below.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases, and recognize expenses in a manner similar to the current accounting method. For Lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions.
The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under ASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets.
The Company has established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard.
As the Company has preliminarily concluded that at transition it would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which the Company is the lessee. However, income statement presentation and the expense recognition pattern is not expected to change.
Under ASC 842, it is expected that fewer contracts will contain a lease. However, due to the elimination of today's real estate-specific guidance and changes to certain lessor classification criteria, more leases will qualify as sales-type leases and direct financing leases. Under these two models, a lessor will derecognize the asset and will recognize a lease receivable. According to ASC 842, the lease receivable does not include variable payments that depend on the use of the asset (e.g. Mwh produced by a facility). Therefore, the lease receivable could be lower than the carrying amount of the underlying asset at lease commencement, In such circumstances, the difference between the initially recognized lease receivable and the carrying amount of the underlying asset is recognized as a selling loss at lease commencement. The Company is assessing how this guidance will apply to new renewable contracts executed or modified after the effective date where all the payments are contingent on the level of production and is also evaluating the related impact to the allocation of earnings under HLBV accounting.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461
v3.8.0.1
Financial Statement Presentation Adoption of ASU 606 2018 (Tables)
 3 Months Ended
Mar. 31, 2018
New Accounting Pronouncements, Policy [Policy Text Block]
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9

New Accounting Pronouncements Adopted in 2018 — The following table provides a brief description of recent accounting pronouncements that had an impact on the Company’s consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on the Company’s consolidated financial statements.
New Accounting Standards Adopted
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
This standard changes the presentation of non-service costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization.
Transition method: retrospective for presentation of non-service cost and prospective for the change in capitalization.
January 1, 2018
No material impact upon adoption of the standard.
2017-05, Other Income — Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets
This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also provides guidance on how gains and losses on transfers of nonfinancial assets and in substance nonfinancial assets to non-customers are recognized. The standard also clarifies that the derecognition of businesses is under the scope of ASC 810. The standard must be adopted concurrently with ASC 606, however an entity will not have to apply the same transition method as ASC 606.
Transition method: modified retrospective.
January 1, 2018
As more transactions will not meet the definition of a business due to the adoption of ASU 2017-01, more dispositions or partial sales will be out of the scope of ASC 810 and will be under this standard.

2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business
The standard requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and if that threshold is met, the set is not a business. As a second step, to be considered a business at least one substantive process should exist. The revised definition of a business will reduce the number of transactions that are accounted for as business combinations.
Transition method: prospective.
January 1, 2018
Some acquisitions and dispositions will now fall under a different accounting model.
2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)
This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.
Transition method: retrospective.
January 1, 2018
For the three months ending March 31, 2017, cash provided by operating activities increased by $5 million, cash used in investing activities decreased by $23 million, and cash used in financing activities was unchanged.
2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also it amends certain disclosures of financial instruments.
Transition method: modified retrospective. Prospective for equity investments without readily determine fair value.
January 1, 2018
No material impact upon adoption of the standard.
2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-10, 2017-13, Revenue from Contracts with Customers (Topic 606)

See discussion of the ASU below.
January 1, 2018
See impact upon adoption of the standard below.
On January 1, 2018, the Company adopted ASU 2014-09, "Revenue from Contracts with Customers," and its subsequent corresponding updates ("ASC 606"). Under this standard, an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company applied the modified retrospective method of adoption to the contracts that were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous revenue recognition standard. For contracts that were modified before January 1, 2018, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461


The Mong Duong II power plant in Vietnam is the primary driver of changes in revenue recognition under the new standard. This plant is operated under a build, operate, and transfer contract and will be transferred to the Vietnamese government after the completion of a 25-year PPA. Under the previous revenue recognition standard, construction costs were deferred to a service concession asset, which was expensed in proportion to revenue recognized for the construction element over the term of the PPA. Under ASC 606, construction revenue and associated costs are recognized as construction activity occurs. As construction of the plant was substantially completed in 2015, revenues and costs associated with the construction were recognized through retained earnings, and the service concession asset was derecognized. A loan receivable was recognized for the future expected payments for the construction performance obligation. As the payments for the construction performance obligation occur over a 25-year term, a significant financing element was determined to exist which is accounted for under the effective interest rate method. The other performance obligation to operate and maintain the facility is measured based on the capacity made available.
The impact to our Condensed Consolidated Balance Sheet as of March 31, 2018 and Condensed Consolidated Statement of Operations for the period ended March 31, 2018 resulting from the adoption of ASC 606 as compared to the previous revenue recognition standard was as follows (in millions):
 
March 31, 2018
Condensed Consolidated Balance Sheet
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Assets
 
 
 
 
 
Other current assets
$
703

 
$
640

 
$
63

Deferred income taxes
94

 
118

 
(24
)
Service concession assets, net
—

 
1,337

 
(1,337
)
Loan receivable
1,474

 
—

 
1,474

TOTAL ASSETS
32,573

 
32,397

 
176

Liabilities
 
 
 
 
 
Accrued and other liabilities
1,182

 
1,181

 
1

Equity
 
 
 
 
 
Accumulated deficit
(1,525
)
 
(1,601
)
 
76

Accumulated other comprehensive loss
(1,808
)
 
(1,827
)
 
19

Noncontrolling interest
2,332

 
2,252

 
80

TOTAL LIABILITIES AND EQUITY
32,573

 
32,397

 
176

 
Three Months Ended March 31, 2018
Condensed Consolidated Statement of Operations
As Reported
 
Balances Without Adoption of ASC 606
 
Adoption Impact
Total revenue
2,740

 
2,751

 
(11
)
Total cost of sales
(2,084
)
 
(2,090
)
 
6

Operating margin
656

 
661

 
(5
)
Interest income
76

 
61

 
15

Income from continuing operations before taxes and equity in earnings of affiliates
998

 
988

 
10

Income tax expense
(231
)
 
(230
)
 
(1
)
INCOME FROM CONTINUING OPERATIONS
778

 
769

 
9

NET INCOME
777

 
768

 
9

NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
684

 
675

 
9


New Accounting Pronouncements Issued But Not Yet Effective — The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s consolidated financial statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s consolidated financial statements.
New Accounting Standards Issued But Not Yet Effective
ASU Number and Name
Description
Date of Adoption
Effect on the financial statements upon adoption
2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI
This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities
The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings in the same income statement line as the hedged item.
Transition method: modified retrospective with the cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. Prospective for presentation and disclosures.
January 1, 2019. Early adoption is permitted.

The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): Accounting for Certain Financial Instruments and Certain Mandatorily Redeemable Noncontrolling Interests
Part 1 of this standard changes the classification of certain equity-linked financial instruments when assessing whether the instrument is indexed to an entity’s own stock.
Transition method: retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
This standard shortens the period of amortization for the premium on certain callable debt securities to the earliest call date.
Transition method: modified retrospective.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
This standard simplifies the accounting for goodwill impairment by removing the requirement to calculate the implied fair value. Instead, it requires that an entity records an impairment charge based on the excess of a reporting unit's carrying amount over its fair value.
Transition method: prospective.
January 1, 2020. Early adoption is permitted as of January 1, 2017.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities.
Transition method: various.
January 1, 2020. Early adoption is permitted only as of January 1, 2019.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
2016-02, 2018-01, Leases (Topic 842)
See discussion of the ASU below.
January 1, 2019. Early adoption is permitted.
The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.
ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases, and recognize expenses in a manner similar to the current accounting method. For Lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions.
The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under ASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets.
The Company has established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard.
As the Company has preliminarily concluded that at transition it would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which the Company is the lessee. However, income statement presentation and the expense recognition pattern is not expected to change.
Under ASC 842, it is expected that fewer contracts will contain a lease. However, due to the elimination of today's real estate-specific guidance and changes to certain lessor classification criteria, more leases will qualify as sales-type leases and direct financing leases. Under these two models, a lessor will derecognize the asset and will recognize a lease receivable. According to ASC 842, the lease receivable does not include variable payments that depend on the use of the asset (e.g. Mwh produced by a facility). Therefore, the lease receivable could be lower than the carrying amount of the underlying asset at lease commencement, In such circumstances, the difference between the initially recognized lease receivable and the carrying amount of the underlying asset is recognized as a selling loss at lease commencement. The Company is assessing how this guidance will apply to new renewable contracts executed or modified after the effective date where all the payments are contingent on the level of production and is also evaluating the related impact to the allocation of earnings under HLBV accounting.
The cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of ASC 606 was as follows (in millions):
Condensed Consolidated Balance Sheet
Balance at December 31, 2017
 
Adjustments Due to ASC 606
 
Balance at
January 1, 2018
Assets
 
 
 
 
 
Other current assets
$
630

 
$
61

 
$
691

Deferred income taxes
130

 
(24
)
 
106

Service concession assets, net
1,360

 
(1,360
)
 
—

Loan receivable
—

 
1,490

 
1,490

Equity
 
 
 
 
 
Accumulated deficit
(2,276
)
 
67

 
(2,209
)
Accumulated other comprehensive loss
(1,876
)
 
19

 
(1,857
)
Noncontrolling interests
2,380

 
81

 
2,461
v3.8.0.1
Inventory (Tables)
 3 Months Ended
Mar. 31, 2018
Inventory Disclosure [Abstract]  
Inventory Balance By Type
The following table summarizes the Company’s inventory balances as of the periods indicated (in millions):
 
March 31, 2018
 
December 31, 2017
Fuel and other raw materials
$
281

 
$
284

Spare parts and supplies
288

 
278

Total
$
569

 
$
562
v3.8.0.1
Fair Value (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Marketable Securities [Table Text Block]
The following table presents gross proceeds from the sale of AFS securities during the periods indicated (in millions):
 
Three Months Ended March 31,
 
2018
 
2017
Gross proceeds from sale of AFS securities
$
147

 
$
429
Fair value hierarchy for recurring measurements table
The following table presents, by level within the fair value hierarchy, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated (in millions). For the Company’s investments in marketable debt securities, the security classes presented are determined based on the nature and risk of the security and are consistent with how the Company manages, monitors and measures its marketable securities:
 
March 31, 2018
 
December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEBT SECURITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unsecured debentures
$
—

 
$
291

 
$
—

 
$
291

 
$
—

 
$
207

 
$
—

 
$
207

Certificates of deposit
—

 
260

 
—

 
260

 
—

 
153

 
—

 
153

Total debt securities
—

 
551

 
—

 
551

 
—

 
360

 
—

 
360

EQUITY SECURITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mutual funds
20

 
52

 
—

 
72

 
20

 
52

 
—

 
72

Other equity securities
—

 
3

 
—

 
3

 
—

 
—

 
—

 
—

Total equity securities
20

 
55

 
—

 
75

 
20

 
52

 
—

 
72

DERIVATIVES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
—

 
42

 
—

 
42

 
—

 
15

 
—

 
15

Cross-currency derivatives
—

 
45

 
—

 
45

 
—

 
29

 
—

 
29

Foreign currency derivatives
—

 
37

 
225

 
262

 
—

 
29

 
240

 
269

Commodity derivatives
—

 
8

 
3

 
11

 
—

 
30

 
5

 
35

Total derivatives — assets
—

 
132

 
228

 
360

 
—

 
103

 
245

 
348

TOTAL ASSETS
$
20

 
$
738

 
$
228

 
$
986

 
$
20

 
$
515

 
$
245

 
$
780

Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DERIVATIVES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
—

 
$
81

 
$
129

 
$
210

 
$
—

 
$
111

 
$
151

 
$
262

Cross-currency derivatives
—

 
1

 
—

 
1

 
—

 
3

 
—

 
3

Foreign currency derivatives
—

 
41

 
—

 
41

 
—

 
30

 
—

 
30

Commodity derivatives
—

 
1

 
—

 
1

 
—

 
19

 
1

 
20

Total derivatives — liabilities
—

 
124

 
129

 
253

 
—

 
163

 
152

 
315

TOTAL LIABILITIES
$
—

 
$
124

 
$
129

 
$
253

 
$
—

 
$
163

 
$
152

 
$
315
Fair Value, Net Derivative Assets (Liabilities) measured on a recurring basis, Unobservable Input Reconciliation Table
The following tables present a reconciliation of net derivative assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017 (presented net by type of derivative in millions). Transfers between Level 3 and Level 2 are determined as of the end of the reporting period and principally result from changes in the significance of unobservable inputs used to calculate the credit valuation adjustment.
Three Months Ended March 31, 2018
Interest Rate
 
Foreign Currency
 
Commodity
 
Total
Balance at January 1
$
(151
)
 
$
240

 
$
4

 
$
93

Total realized and unrealized gains (losses):
 
 
 
 
 
 

Included in earnings
14

 
(6
)
 
1

 
9

Included in other comprehensive income — derivative activity
27

 
—

 
—

 
27

Settlements
6

 
(9
)
 
(2
)
 
(5
)
Transfers of liabilities into Level 3
(8
)
 
—

 
—

 
(8
)
Transfers of liabilities out of Level 3
(17
)
 
—

 
—

 
(17
)
Balance at March 31
$
(129
)
 
$
225

 
$
3

 
$
99

Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period
$
16

 
$
(15
)
 
$
1

 
$
2

Three Months Ended March 31, 2017
Interest Rate
 
Foreign Currency
 
Commodity
 
Total
Balance at January 1
$
(179
)
 
$
255

 
$
5

 
$
81

Total realized and unrealized losses:
 
 
 
 
 
 
 
Included in earnings
—

 
(16
)
 
—

 
(16
)
Included in other comprehensive income — derivative activity
(12
)
 
—

 
—

 
(12
)
Settlements
10

 
(8
)
 
(3
)
 
(1
)
Transfers of liabilities into Level 3
(4
)
 
—

 
—

 
(4
)
Transfers of assets out of Level 3
2

 
—

 
—

 
2

Balance at March 31
$
(183
)
 
$
231

 
$
2

 
$
50

Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period
$
2

 
$
(24
)
 
$
—

 
$
(22
)
Derivative Assets, Significant unobservable inputs
The following table summarizes the significant unobservable inputs used for Level 3 derivative assets (liabilities) as of March 31, 2018 (in millions, except range amounts):
Type of Derivative
 
Fair Value
 
Unobservable Input
 
Amount or Range (Weighted Average)
Interest rate
 
$
(129
)
 
Subsidiaries’ credit spreads
 
2.38% to 4.38% (3.54%)
Foreign currency:
 
 
 
 
 
 
Argentine Peso
 
225

 
Argentine Peso to USD currency exchange rate after one year
 
24.33 to 56.28 (38.75)
Commodity:
 
 
 
 
 
 
Other
 
3

 
 
 
 
Total
 
$
99

 
 
 
 
Fair value hierarchy for nonrecurring measurements table
The following table summarizes our major categories of assets and liabilities measured at fair value on a nonrecurring basis and their level within the fair value hierarchy (in millions):
 
Measurement Date
 
Carrying Amount (1)
 
Fair Value
 
Pretax Loss
Three Months Ended March 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Long-lived assets held and used: (2)
 
 
 
 
 
 
 
 
 
 
 
DPL
02/28/2017
 
$
77

 
$
—

 
$
—

 
$
11

 
$
66

Other
02/28/2017
 
15

 
—

 
—

 
7

 
8

Held-for-sale businesses: (3)
 
 
 
 
 
 
 
 
 
 
 
Kazakhstan
03/31/2017
 
171

 
—

 
29

 
—

 
94

_____________________________
(1) 
Represents the carrying values at the dates of measurement, before fair value adjustment.
(2) 
See Note 14—Asset Impairment Expense for further information.
(3) 
Per the Company’s policy, pretax loss is limited to the impairment of long-lived assets. Any additional loss will be recognized on completion of the sale. See Note 17—Held-for-Sale Businesses and Dispositions for further information
Financial instruments not measured at fair value in the condensed consolidated balance sheets
The following table presents (in millions) the carrying amount, fair value and fair value hierarchy of the Company’s financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, but for which fair value is disclosed:
 
 
March 31, 2018
 
 
Carrying
Amount
 
Fair Value
 
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
Accounts receivable — noncurrent (1)
$
156

 
$
295

 
$
—

 
$
—

 
$
295

Liabilities:
Non-recourse debt
15,626

 
16,006

 
—

 
14,250

 
1,756

 
Recourse debt
4,065

 
4,173

 
—

 
4,173

 
—

 
 
December 31, 2017
 
 
Carrying
Amount
 
Fair Value
 
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
Accounts receivable — noncurrent (1)
$
163

 
$
217

 
$
—

 
$
6

 
$
211

Liabilities:
Non-recourse debt
15,340

 
15,890

 
—

 
13,350

 
2,540

 
Recourse debt
4,630

 
4,920

 
—

 
4,920

 
—

_____________________________
(1) 
These amounts primarily relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in Other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $30 million and $31 million as of March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest Rate And Cross Currency Derivatives By Type Table
The following table presents the Company’s maximum notional (in millions) over the remaining contractual period by type of derivative as of March 31, 2018, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Derivatives
 
Maximum Notional Translated to USD
 
Latest Maturity
Interest Rate (LIBOR and EURIBOR)
 
$
4,475

 
2041
Cross-Currency Swaps (Chilean Unidad de Fomento and Chilean Peso)
 
419

 
2029
Foreign Currency:
 
 
 
 
Argentine Peso
 
180

 
2026
Chilean Peso
 
388

 
2020
Colombian Peso
 
285

 
2019
Others, primarily with weighted average remaining maturities of a year or less
 
327

 
2020
Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table
The following tables present the fair value of assets and liabilities related to the Company’s derivative instruments as of March 31, 2018 and December 31, 2017 (in millions):
Fair Value
March 31, 2018
 
December 31, 2017
Assets
Designated
 
Not Designated
 
Total
 
Designated
 
Not Designated
 
Total
Interest rate derivatives
$
41

 
$
1

 
$
42

 
$
15

 
$
—

 
$
15

Cross-currency derivatives
45

 
—

 
45

 
29

 
—

 
29

Foreign currency derivatives
13

 
249

 
262

 
8

 
261

 
269

Commodity derivatives
—

 
11

 
11

 
5

 
30

 
35

Total assets
$
99

 
$
261

 
$
360

 
$
57

 
$
291

 
$
348

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
90

 
$
120

 
$
210

 
$
125

 
$
137

 
$
262

Cross-currency derivatives
1

 
—

 
1

 
3

 
—

 
3

Foreign currency derivatives
1

 
40

 
41

 
1

 
29

 
30

Commodity derivatives
—

 
1

 
1

 
9

 
11

 
20

Total liabilities
$
92

 
$
161

 
$
253

 
$
138

 
$
177

 
$
315

 
March 31, 2018
 
December 31, 2017
Fair Value
Assets
 
Liabilities
 
Assets
 
Liabilities
Current
$
70

 
$
170

 
$
84

 
$
211

Noncurrent
290

 
83

 
264

 
104

Total
$
360

 
$
253

 
$
348

 
$
315


As of March 31, 2018, all derivative instruments subject to credit risk-related contingent features were in an asset position.
Credit Risk-Related Contingent Features (1)
 
 
 
 
 
December 31, 2017
Present value of liabilities subject to collateralization
 
 
$
15

Cash collateral held by third parties or in escrow
 
 
9

 _____________________________
(1) 
Based on the credit rating of certain subsidiaries
Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table
The next table presents (in millions) the pretax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated:
 
Three Months Ended March 31,
2018
 
2017
Effective portion of cash flow hedges
 
 
 
Gains (losses) recognized in AOCL
 
 
 
Interest rate derivatives
$
47

 
$
(22
)
Cross-currency derivatives
19

 
12

Foreign currency derivatives
6

 
(15
)
Commodity derivatives
—

 
12

Total
$
72

 
$
(13
)
Gains (losses) reclassified from AOCL into earnings
 
 
 
Interest rate derivatives
$
(16
)
 
$
(24
)
Cross-currency derivatives
10

 
4

Foreign currency derivatives
1

 
(2
)
Commodity derivatives
(4
)
 
1

Total
$
(9
)

$
(21
)
Gains (losses) recognized in earnings related to
 
 
 
Not designated as hedging instruments:
 
 
 
Foreign currency derivatives
$
108

 
$
(32
)
Commodity derivatives and other
9

 
(2
)
Total
$
117

 
$
(34
)
v3.8.0.1
Financing Receivables (Tables)
 3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Financing Receivables Table
The following table presents financing receivables by country as of the dates indicated (in millions):
 
March 31, 2018
 
December 31, 2017
Argentina
$
174

 
$
177

Other
12

 
17

Total
$
186

 
$
194
v3.8.0.1
Investments In and Advances To Affiliates (Tables)
 3 Months Ended
Mar. 31, 2018
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Investments In and Advances to Affiliates Financial Information
The following table summarizes financial information of the Company’s 50%-or-less-owned affiliates that are accounted for using the equity method (in millions):
 
Three Months Ended March 31,
50%-or-less-Owned Affiliates
2018
 
2017
Revenue
$
206

 
$
167

Operating margin
28

 
32

Net income
12

 
11
v3.8.0.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Non-recourse debt [Table Text Block]
During the three months ended March 31, 2018, the Company’s subsidiaries had the following significant debt transactions:
Subsidiary
 
Issuances
 
Repayments
 
Gain (Loss) on Extinguishment of Debt
Tietê
 
$
385

 
$
(231
)
 
$
—

Southland
 
194

 
—

 
—

Total
 
$
579

 
$
(231
)
 
$
—
Debt In Default
The current portion of non-recourse debt includes the following subsidiary debt in default as of March 31, 2018 (in millions).
Subsidiary
 
Primary Nature of Default
 
Debt in Default
 
Net Assets
Alto Maipo
 
Covenant
 
$
629

 
$
359

AES Puerto Rico
 
Covenant
 
334

 
124

AES Ilumina
 
Covenant
 
35

 
16

 
 
 
 
$
998

 
 
v3.8.0.1
Contingencies and Commitments (Tables)
 3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Schedule Of Contingent Contractual Obligations [Table Text Block]
The following table summarizes the Parent Company’s contingent contractual obligations as of March 31, 2018. Amounts presented in the following table represent the Parent Company’s current undiscounted exposure to guarantees and the range of maximum undiscounted potential exposure. The maximum exposure is not reduced by the amounts, if any, that could be recovered under the recourse or collateralization provisions in the guarantees.
Contingent Contractual Obligations
 
Amount
(in millions)
 
Number of Agreements
 
Maximum Exposure Range for Each Agreement (in millions)
Guarantees and commitments
 
$
795

 
24

 
<$1 — 272
Letters of credit under the unsecured credit facility
 
52

 
4

 
$2 — 26
Asset sale related indemnities (1)
 
27

 
1

 
$27
Letters of credit under the senior secured credit facility
 
36

 
20

 
<$1 — 13
Total
 
$
910

 
49

 
 

_____________________________
(1) 
Excludes normal and customary representations and warranties in agreements for the sale of assets (including ownership in associated legal entities) where the associated risk is considered to be nominal.
v3.8.0.1
Pension Plans (Tables)
 3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]  
Net Periodic Benefit Cost Table
Total pension cost and employer contributions were as follows for the periods indicated (in millions):
 
Three Months Ended March 31,
 
2018
 
2017
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Service cost
$
4

 
$
3

 
$
3

 
$
3

Interest cost
10

 
5

 
10

 
5

Expected return on plan assets
(16
)
 
(5
)
 
(17
)
 
(5
)
Amortization of prior service cost
1

 
—

 
1

 
—

Amortization of net loss
5

 
1

 
5

 
—

Curtailment loss recognized
1

 
2

 
4

 
—

Total pension cost
$
5

 
$
6

 
$
6

 
$
3

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
Remainder of 2018 (Expected)
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Total employer contributions
$
38

 
$
3

 
$
—

 
$
9
v3.8.0.1
Redeemable Stocks of Subsidiaries (Tables)
 3 Months Ended
Mar. 31, 2018
Redeemable Stock of Subsidiaries [Abstract]  
Temporary Equity [Table Text Block]
The following table summarizes the Company’s redeemable stock of subsidiaries balances as of the periods indicated (in millions):
 
March 31, 2018
 
December 31, 2017
IPALCO common stock
$
618

 
$
618

Colon quotas (1)
173

 
159

IPL preferred stock
60

 
60

Redeemable stock of subsidiaries
$
851

 
$
837
v3.8.0.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of Stockholders Equity
The following table is a reconciliation of the beginning and ending equity attributable to stockholders of The AES Corporation, NCI and total equity as of the periods indicated (in millions):
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 
The Parent Company Stockholders’ Equity
 
NCI
 
Total Equity
 
The Parent Company Stockholders’ Equity
 
NCI
 
Total Equity
Balance at the beginning of the period
$
2,465

 
$
2,380

 
$
4,845

 
$
2,794

 
$
2,906

 
$
5,700

Net income (loss) (1)
684

 
93

 
777

 
(24
)
 
122

 
98

Total foreign currency translation adjustment, net of income tax
3

 
6

 
9

 
61

 
10

 
71

Total change in derivative fair value, net of income tax
44

 
23

 
67

 
12

 
3

 
15

Total pension adjustments, net of income tax
2

 
—

 
2

 
(1
)
 
7

 
6

Cumulative effect of a change in accounting principle (2)
86

 
81

 
167

 
31

 
—

 
31

Fair value adjustment (3)
(6
)
 
—

 
(6
)
 
—

 
—

 
—

Disposition of businesses (4)
—

 
(249
)
 
(249
)
 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
(9
)
 
(9
)
 
—

 
(19
)
 
(19
)
Contributions from noncontrolling interests
—

 
1

 
1

 
—

 
17

 
17

Dividends declared on common stock
(86
)
 
—

 
(86
)
 
(79
)
 
—

 
(79
)
Issuance and exercise of stock-based compensation
1

 
—

 
1

 
1

 
—

 
1

Sale of subsidiary shares to noncontrolling interests
—

 
1

 
1

 
(4
)
 
22

 
18

Acquisition of subsidiary shares from noncontrolling interests
—

 
—

 
—

 
200

 
67

 
267

Less: Net loss attributable to redeemable stock of subsidiaries
—

 
5

 
5

 
—

 
3

 
3

Balance at the end of the period
$
3,193

 
$
2,332

 
$
5,525

 
$
2,991

 
$
3,138

 
$
6,129


_____________________________
(1)  
Net income attributable to noncontrolling interest of $98 million and net loss attributable to redeemable stocks of subsidiaries of $5 million for the three months ended March 31, 2018. Net income attributable to noncontrolling interest of $125 million and net loss attributable to redeemable stock of subsidiaries of $3 million for the three months ended March 31, 2017.
(2)  
See Note 1—Financial Statement Presentation, New Accounting Standards Adopted for further information.
(3)  
Adjustment to record the redeemable stock of Colon at fair value.
Components Of Accumulated Other Comprehensive Income
The following table summarizes the changes in AOCL by component, net of tax and NCI, for the three months ended March 31, 2018 (in millions):
 
Foreign currency translation adjustment, net
 
Unrealized derivative gains (losses), net
 
Unfunded pension obligations, net
 
Total
Balance at the beginning of the period
$
(1,486
)
 
$
(333
)
 
$
(57
)
 
$
(1,876
)
Other comprehensive income before reclassifications
19

 
37

 
—

 
56

Amount reclassified to earnings
(16
)
 
7

 
2

 
(7
)
Other comprehensive income
3

 
44

 
2

 
49

Cumulative effect of a change in accounting principle
—

 
19

 
—

 
19

Balance at the end of the period
$
(1,483
)
 
$
(270
)
 
$
(55
)
 
$
(1,808
)
Schedule Of Amounts Reclassified Out Of Accumulated Other Comprehensive Income

Reclassifications out of AOCL are presented in the following table. Amounts for the periods indicated are in millions and those in parenthesis indicate debits to the Condensed Consolidated Statements of Operations:
AOCL Components
 
Affected Line Item in the Condensed Consolidated Statements of Operations
 
Three Months Ended March 31,
 
 
2018
 
2017
Foreign currency translation adjustment, net
 
 
 
 
Gain on disposal and sale of businesses
 
$
16

 
$
(3
)
 
 
Net income (loss) attributable to The AES Corporation
 
$
16

 
$
(3
)
Unrealized derivative gains (losses), net
 
 
 
 
Non-regulated revenue
 
$
(4
)
 
$
10

 
 
Non-regulated cost of sales
 
(1
)
 
(10
)
 
 
Interest expense
 
(15
)
 
(23
)
 
 
Foreign currency transaction losses
 
11

 
2

 
 
Income from continuing operations before taxes and equity in earnings of affiliates
 
(9
)
 
(21
)
 
 
Income tax expense
 
(1
)
 
1

 
 
Income from continuing operations
 
(10
)
 
(20
)
 
 
Less: Net income from operations attributable to noncontrolling interests and redeemable stock of subsidiaries
 
3

 
—

 
 
Net income (loss) attributable to The AES Corporation
 
$
(7
)
 
$
(20
)
Amortization of defined benefit pension actuarial loss, net
 
 
 
 
General and administrative expenses
 
$
(1
)
 
$
1

 
 
Income from continuing operations before taxes and equity in earnings of affiliates
 
(1
)
 
1

 
 
Income from continuing operations
 
(1
)
 
1

 
 
Net income (loss) from operations of discontinued businesses
 
(1
)
 
(7
)
 
 
Net income
 
(2
)
 
(6
)
 
 
Less: Net income from discontinued operations attributable to noncontrolling interest
 
—

 
5

 
 
Net income (loss) attributable to The AES Corporation
 
$
(2
)
 
$
(1
)
Total reclassifications for the period, net of income tax and noncontrolling interests
 
$
7

 
$
(24
)
v3.8.0.1
Segments (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Revenue By Segment Table
The following tables present financial information by segment for the periods indicated (in millions):
 
Three Months Ended March 31,
Total Revenue
2018
 
2017
US and Utilities SBU
$
1,027

 
$
1,047

South America SBU
895

 
747

MCAC SBU
408

 
348

Eurasia SBU
419

 
429

Corporate and Other
9

 
14

Eliminations
(18
)
 
(4
)
Total Revenue
$
2,740

 
$
2,581


Three Months Ended March 31,
Total Adjusted PTC
2018
 
2017
Income from continuing operations before taxes and equity in earnings of affiliates
$
998

 
$
157

Add: Net equity in earnings of affiliates
11

 
7

Less: Income from continuing operations before taxes, attributable to noncontrolling interests
(126
)
 
(168
)
Pre-tax contribution
883

 
(4
)
Unrealized derivative and equity securities losses (gains)
12

 
(1
)
Unrealized foreign currency gains
(3
)
 
(9
)
Disposition/acquisition losses (gains)
(778
)
 
52

Impairment expense
—

 
168

Losses (gains) on extinguishment of debt
171

 
(16
)
Restructuring costs
3

 
—

Total Adjusted PTC
$
288

 
$
190


 
Three Months Ended March 31,
Total Adjusted PTC
2018
 
2017
US and Utilities SBU
$
120

 
$
61

South America SBU
136

 
127

MCAC SBU
53

 
46

Eurasia SBU
83

 
77

Corporate and Other
(104
)
 
(121
)
Total Adjusted PTC
$
288

 
$
190


Total Assets
March 31, 2018
 
December 31, 2017
US and Utilities SBU
$
11,633

 
$
11,297

South America SBU
11,113

 
10,874

MCAC SBU
4,322

 
4,087

Eurasia SBU
4,855

 
4,557

Assets of discontinued operations and held-for-sale businesses
358

 
2,034

Corporate and Other
292

 
263

Total Assets
$
32,573

 
$
33,112
v3.8.0.1
Revenue (Tables)
 3 Months Ended
Mar. 31, 2018
Revenue from Contracts with Customers [Abstract]  
Revenue, Practical Expedient, Remaining Performance Obligation, Description
The Company has elected to apply the optional disclosure exemptions under ASC 606. Therefore, the amount above excludes contracts with an original length of one year or less, contracts for which we recognize revenue based on the amount we have the right to invoice for services performed, and variable consideration allocated entirely to a wholly unsatisfied performance obligation when the consideration relates specifically to our efforts to satisfy the performance obligation and depicts the amount to which we expect to be entitled. As such, consideration for energy is excluded from the amounts above as the variable consideration relates to the amount of energy delivered and reflects the value the Company expects to receive for the energy transferred. Estimates of revenue expected to be recognized in future periods also exclude unexercised customer options to purchase additional goods or services that do not represent material rights to the customer.
Disaggregation of Revenue [Table Text Block]
The following table presents our revenue from contracts with customers and other revenue for the period ended March 31, 2018 (in millions):
 
US and Utilities SBU
 
South America SBU
 
MCAC SBU
 
Eurasia SBU
 
Corp and Other/ Eliminations
 
Total
Regulated Revenue
 
 
 
 
 
 
 
 
 
 
 
Revenue from contracts with customers
$
711

 
$
—

 
$
—

 
$
—

 
$
—

 
$
711

Other regulated revenue
11

 
—

 
—

 
—

 
—

 
11

Total regulated revenue
$
722

 
$
—

 
$
—

 
$
—

 
$
—

 
$
722

Non-Regulated Revenue
 
 
 
 
 
 
 
 
 
 
 
Revenue from contracts with customers
$
208

 
$
894

 
$
387

 
$
331

 
$
(9
)
 
$
1,811

Other non-regulated revenue (1)
97

 
1

 
21

 
88

 
—

 
207

Total non-regulated revenue
$
305

 
$
895

 
$
408

 
$
419

 
$
(9
)
 
$
2,018

Total revenue
$
1,027

 
$
895

 
$
408

 
$
419

 
$
(9
)
 
$
2,740
v3.8.0.1
Other Income and Expense (Tables)
 3 Months Ended
Mar. 31, 2018
Other Income and Expenses [Abstract]  
Schedule of other Income and other expense [Table Text Block]
Other income generally includes gains on asset sales and liability extinguishments, favorable judgments on contingencies, gains on contract terminations, allowance for funds used during construction and other income from miscellaneous transactions. Other expense generally includes losses on asset sales and dispositions, losses on legal contingencies, defined benefit plan non-service costs, and losses from other miscellaneous transactions. The components are summarized as follows (in millions):
 
 
Three Months Ended March 31,
 
 
2018
 
2017
Other Income
Legal settlements (1)
$
—

 
$
60

 
Allowance for funds used during construction (US Utilities)
5

 
7

 
Other
8

 
6

 
Total other income
$
13

 
$
73

 
 
 
 
 
Other Expense
Loss on sale and disposal of assets
$
2

 
$
21

 
Defined benefit plan non-service costs (2)
5

 
3

 
Other
2

 
—

 
Total other expense
$
9

 
$
24


_____________________________
(1) 
In December 2016, the Company and YPF entered into a settlement agreement in which all parties agreed to give up any and all legal action related to gas supply contracts that were terminated in 2008 and have been in dispute since 2009. In January 2017, the YPF board approved the agreement and paid the Company $60 million, thereby resolving all uncertainties around the dispute.
(2) 
As of January 1, 2018, the Company retrospectively adopted ASU 2017-07, Compensation —Retirement Benefits. As such, $3 million of non-service costs associated with defined benefit plans for the three months ended March 31, 2017 were reclassified from Cost of Sales to Other Expense.
v3.8.0.1
Asset Impairment Expense (Tables)
 3 Months Ended
Mar. 31, 2018
Impairment or Disposal of Tangible Assets Disclosure [Abstract]  
Details of Impairment of Long-Lived Assets Held and Used by Asset
(in millions)
 
Three Months Ended March 31, 2017
Kazakhstan CHPs
 
$
94

DPL
 
66

Other
 
8

Total
 
$
168
v3.8.0.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share Basic And Diluted Table
The following table is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for income (loss) from continuing operations for the three months ended March 31, 2018 and 2017, where income or loss represents the numerator and weighted average shares represent the denominator.
Three Months Ended March 31,
2018
 
2017
(in millions, except per share data)
Income
 
Shares
 
$ per Share
 
Loss
 
Shares
 
$ per Share
 
 
 
 
 
 
 
 
 
 
 
 
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to The AES Corporation common stockholders
$
685

 
661

 
$
1.04

 
$
(24
)
 
659

 
$
(0.04
)
EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 
 
 
 
 
 
 
Restricted stock units
—

 
2

 
(0.01
)
 
—

 
—

 
—

DILUTED EARNINGS PER SHARE
$
685

 
663

 
$
1.03

 
$
(24
)
 
659

 
$
(0.04
)
v3.8.0.1
Discontinued Operations and Held for sale businesses (Tables)
 3 Months Ended
Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]
s
s
Disposal Groups, Including Discontinued Operations [Table Text Block]
The following table summarizes the major line items constituting income from discontinued operations for the three months ended March 31, 2017 (in millions):
Income from discontinued operations, net of tax:
Three Months Ended March 31, 2017
Revenue — regulated
$
919

Cost of sales
(874
)
Other income and expense items that are not major
(42
)
Income from discontinued operations
3

Less: Net income attributable to noncontrolling interests
(1
)
Income from discontinued operations attributable to The AES Corporation
2

Income tax expense
(2
)
Income from discontinued operations, net of tax
$
—


The following table summarizes the operating and investing cash flows from discontinued operations for the three months ended March 31, 2017 (in millions):
 
Three Months Ended March 31, 2017
Cash flows provided by operating activities of discontinued operations
$
168

Cash flows used in investing activities of discontinued operations
(127
)
Excluding any impairment charges or gain/loss on sale, pre-tax income attributable to AES of disposed businesses was as follows:
 
Three Months Ended March 31,
(in millions)
2018
 
2017
Masinloc
$
9

 
$
23

DPL Peaker Assets
7

 
—

Total
$
16

 
$
23
v3.8.0.1
Financial Statement Presentation New Accounting Pronouncement Adopted (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Jan. 01, 2018
Dec. 31, 2017
Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Electrical Distribution Revenue $ 722 $ 813      
Electrical Generation Revenue 2,018 1,768      
Electric Revenue (2,740) (2,581)      
Cost of Transmission (601) (703)      
Electric Production Expense (1,483) (1,321)      
Cost of Goods Sold, Electric 2,084 2,024      
Gross Profit (656) (557)      
General and Administrative Expense (56) (54)      
Interest Expense (281) (287)      
Investment Income, Interest (76) (63)      
Other Assets, Current (703)   $ (691) $ (630)  
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent (94)   (106) (130)  
Service Concession Assets 0   0 1,360  
Assets 32,573     33,112  
Notes, Loans and Financing Receivable, Gross, Noncurrent 1,474   1,490 0  
Accrued Liabilities, Current 1,182     1,232  
Other Liabilities, Noncurrent 2,264     2,365  
Retained Earnings (Accumulated Deficit) (1,525)   (2,209) (2,276)  
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,808)   (1,857) (1,876)  
Cash and Cash Equivalents, at Carrying Value (1,212)     (949)  
Restricted Cash and Cash Equivalents, Current (415)     (274)  
Other Restricted Assets, Noncurrent (541)     (565)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 2,168 2,248   1,788 $ 1,960
Stockholders' Equity Attributable to Noncontrolling Interest 2,332   2,461 2,380  
Liabilities and Equity 32,573     33,112  
Gain (Loss) on Extinguishment of Debt 170 (17)      
Other Expenses (9) (24)      
Other Income (13) (73)      
Gain (Loss) on Disposition of Business (788) 0      
Foreign Currency Transaction Gain (Loss), before Tax 19 20      
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (998) (157)      
Income Tax Expense (Benefit) (231) (67)      
Income (Loss) from Equity Method Investments (11) (7)      
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 778 97      
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax 1 (1)      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 777 98      
Net Income (Loss) Attributable to Noncontrolling Interest (93) (121)      
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (685) 24      
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent 1 0      
Net Income (Loss) Attributable to Parent (684) 24      
ASC 606 Impact [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Electric Revenue (11)        
Cost of Goods Sold, Electric 6        
Gross Profit 5        
Investment Income, Interest (15)        
Other Assets, Current (63)   (61)    
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent (24)   24    
Service Concession Assets (1,337)   (1,360)    
Assets 176        
Notes, Loans and Financing Receivable, Gross, Noncurrent 1,474   1,490    
Accrued Liabilities, Current 1        
Retained Earnings (Accumulated Deficit) 76   67    
Accumulated Other Comprehensive Income (Loss), Net of Tax 19   19    
Stockholders' Equity Attributable to Noncontrolling Interest 80   $ 81    
Liabilities and Equity 176        
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (10)        
Income Tax Expense (Benefit) (1)        
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 9        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 9        
Net Income (Loss) Attributable to Parent (9)        
Balance Without the Adoption of ASC 606 [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Electric Revenue (2,751)        
Cost of Goods Sold, Electric 2,090        
Gross Profit (661)        
Investment Income, Interest (61)        
Other Assets, Current (640)        
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent (118)        
Service Concession Assets 1,337        
Assets 32,397        
Notes, Loans and Financing Receivable, Gross, Noncurrent 0        
Accrued Liabilities, Current 1,181        
Retained Earnings (Accumulated Deficit) (1,601)        
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,827)        
Stockholders' Equity Attributable to Noncontrolling Interest 2,252        
Liabilities and Equity 32,397        
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (988)        
Income Tax Expense (Benefit) (230)        
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 769        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 768        
Net Income (Loss) Attributable to Parent (675)        
Accounting Standard Update 2016-09 [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets       23  
Other Expense [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Other Expenses $ (9) $ (24)      
Inc (Dec) in Cash provided by Operating Actitvities [Domain] | Accounting Standard Update 2016-09 [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets       5  
Dec (Inc) In Net Cash Used by Financing Activities [Domain] | Accounting Standard Update 2016-09 [Member]          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets       $ 0  
v3.8.0.1
Inventory (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Inventory Disclosure [Abstract]    
Fuel and other raw materials $ 281 $ 284
Spare parts and supplies 288 278
Total $ 569 $ 562
v3.8.0.1
Fair Value (Recurring Measurements) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Sep. 30, 2016
Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ 99   $ 93 $ 50 $ 81
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 986   780    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 253   315    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 9 $ (16)      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (5) (1)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 (8) (4)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 (17)        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 2 (22)      
Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs (129)   (151) (183) (179)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 14 0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements 6 10      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 (8) (4)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 (17)        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 16 2      
Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs 225   240 231 255
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings (6) (16)      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (9) (8)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 0 0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 0        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) (15) (24)      
Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs 3   4 $ 2 $ 5
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 1 0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (2) (3)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 0 0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 0        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 1 0      
Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 20   20    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 738   515    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 124   163    
Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 228   245    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 129   152    
Mutual Fund [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 72   72    
Mutual Fund [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 20   20    
Mutual Fund [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 52   52    
Mutual Fund [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Available-for-sale Securities [Member] | Corporate Debt Securities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 260   153    
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 260   153    
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Debt Securities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 551   360    
Debt Securities [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Debt Securities [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 551   360    
Debt Securities [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Equity Securities [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 75   72    
Equity Securities [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 20   20    
Equity Securities [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 55   52    
Equity Securities [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 360   348    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 253   315    
Derivative [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 210   262    
Derivative [Member] | Cross currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 1   3    
Derivative [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 41   30    
Derivative [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 1   20    
Derivative [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 1 [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 1 [Member] | Cross currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 1 [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 1 [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 132   103    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 124   163    
Derivative [Member] | Level 2 [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 81   111    
Derivative [Member] | Level 2 [Member] | Cross currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 1   3    
Derivative [Member] | Level 2 [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 41   30    
Derivative [Member] | Level 2 [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 1   19    
Derivative [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 228   245    
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 129   152    
Derivative [Member] | Level 3 [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 129   151    
Derivative [Member] | Level 3 [Member] | Cross currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 3 [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   0    
Derivative [Member] | Level 3 [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value 0   1    
Derivative [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 42   15    
Derivative [Member] | Interest Rate Contract [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Interest Rate Contract [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 42   15    
Derivative [Member] | Interest Rate Contract [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Cross currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 45   29    
Derivative [Member] | Cross currency derivatives [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Cross currency derivatives [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 45   29    
Derivative [Member] | Cross currency derivatives [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 262   269    
Derivative [Member] | Foreign currency derivatives [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Foreign currency derivatives [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 37   29    
Derivative [Member] | Foreign currency derivatives [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 225   240    
Derivative [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 11   35    
Derivative [Member] | Commodity Contract [Member] | Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 0   0    
Derivative [Member] | Commodity Contract [Member] | Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 8   30    
Derivative [Member] | Commodity Contract [Member] | Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value 3   $ 5    
Other comprehensive income - Derivative activity [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 27 (12)      
Other comprehensive income - Derivative activity [Member] | Interest Rate Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 27 (12)      
Other comprehensive income - Derivative activity [Member] | Foreign currency derivatives [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0      
Other comprehensive income - Derivative activity [Member] | Commodity Contract [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) $ 0 $ 0      
v3.8.0.1
Fair Value Investment in Marketable Securities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Gain Loss On Marketable Securities    
Other-than-temporary impairment of marketable securities $ 0 $ 0
Gross proceeds from sales of AFS securities $ 147 $ 429
v3.8.0.1
Fair Value (Level 3 Reconciliation) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Sep. 30, 2016
Dec. 31, 2015
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ 99   $ 93 $ 50 $ 81
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 9 $ (16)      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (5) (1)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 (8) (4)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 (17)        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3   2      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 2 (22)      
Other comprehensive income - Derivative activity [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 27 (12)      
Interest Rate Contract [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs (129)   (151) (183) (179)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 14 0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements 6 10      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 (8) (4)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 (17)        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3   2      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 16 2      
Interest Rate Contract [Member] | Other comprehensive income - Derivative activity [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 27 (12)      
Foreign currency derivatives [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs 225   240 231 255
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings (6) (16)      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (9) (8)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 0 0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3   0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) (15) (24)      
Foreign currency derivatives [Member] | Other comprehensive income - Derivative activity [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0      
Commodity Contract [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs 3   $ 4 $ 2 $ 5
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings 1 0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases, Sales, Issues, Settlements [Abstract]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (2) (3)      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 0 0      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 0        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3   0      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 1 0      
Commodity Contract [Member] | Other comprehensive income - Derivative activity [Member]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]          
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) $ 0 $ 0      
v3.8.0.1
Fair Value (Quantitative Information) (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Sep. 30, 2016
USD ($)
Dec. 31, 2015
USD ($)
Fair Value Inputs Quantitative Information [Line Items]        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ 99 $ 93 $ 50 $ 81
Interest Rate Contract [Member]        
Fair Value Inputs Quantitative Information [Line Items]        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ (129) (151) (183) (179)
Interest Rate Contract [Member] | Minimum [Member]        
Fair Value Inputs [Abstract]        
Fair Value Inputs, Entity Credit Risk 2.40%      
Interest Rate Contract [Member] | Maximum [Member]        
Fair Value Inputs [Abstract]        
Fair Value Inputs, Entity Credit Risk 4.40%      
Interest Rate Contract [Member] | Weighted Average [Member]        
Fair Value Inputs [Abstract]        
Fair Value Inputs, Entity Credit Risk 3.50%      
Foreign Exchange Contract [Member]        
Fair Value Inputs Quantitative Information [Line Items]        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ 225 240 231 255
Commodity Contract [Member]        
Fair Value Inputs Quantitative Information [Line Items]        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs 3 $ 4 $ 2 $ 5
Argentina, Pesos | Foreign Exchange Contract [Member]        
Fair Value Inputs Quantitative Information [Line Items]        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs $ 225      
Argentina, Pesos | Foreign Exchange Contract [Member] | Minimum [Member]        
Fair Value Derivative Assets Liabilities Measured On Recurring Basis Unobservable Inputs [Abstract]        
Argentine Peso to U.S. Dollar currency exchange rate after 1 year 24.3      
Argentina, Pesos | Foreign Exchange Contract [Member] | Maximum [Member]        
Fair Value Derivative Assets Liabilities Measured On Recurring Basis Unobservable Inputs [Abstract]        
Argentine Peso to U.S. Dollar currency exchange rate after 1 year 56.3      
Argentina, Pesos | Foreign Exchange Contract [Member] | Weighted Average [Member]        
Fair Value Derivative Assets Liabilities Measured On Recurring Basis Unobservable Inputs [Abstract]        
Argentine Peso to U.S. Dollar currency exchange rate after 1 year 38.8      
v3.8.0.1
Fair Value (Nonrecurring Measurements) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Jun. 30, 2016
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Asset Impairment Charges $ 0 $ 168  
Other Asset Impairment Charges $ 0 168  
Long Lived Assets Held And Used [Member] | DPL Subsidiary [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Other Asset Impairment Charges [1]   66  
Long Lived Assets Held And Used [Member] | Other Subsidiaries [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Other Asset Impairment Charges [1]   8  
Long Lived Assets Held And Used [Member] | Kazakhstan [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Other Asset Impairment Charges [1]   $ 94  
Long Lived Assets Held And Used [Member] | Fair Value [Member] | DPL Subsidiary [Member] | Level 1 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     $ 0
Long Lived Assets Held And Used [Member] | Fair Value [Member] | DPL Subsidiary [Member] | Level 2 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     0
Long Lived Assets Held And Used [Member] | Fair Value [Member] | DPL Subsidiary [Member] | Level 3 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     11
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Other Subsidiaries [Member] | Level 1 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     0
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Other Subsidiaries [Member] | Level 2 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     0
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Other Subsidiaries [Member] | Level 3 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     7
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Kazakhstan [Member] | Level 1 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     0
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Kazakhstan [Member] | Level 2 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     29
Long Lived Assets Held And Used [Member] | Fair Value [Member] | Kazakhstan [Member] | Level 3 [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1]     0
Long Lived Assets Held And Used [Member] | Carrying Amount [Member] | DPL Subsidiary [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1],[2]     77
Long Lived Assets Held And Used [Member] | Carrying Amount [Member] | Other Subsidiaries [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1],[2]     15
Long Lived Assets Held And Used [Member] | Carrying Amount [Member] | Kazakhstan [Member]      
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]      
Fair Value, Nonrecurring [1],[2]     $ 171
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations [Member] | Income Approach Valuation Technique [Member] | Weighted Average [Member] | Energy Storage [Member]      
Fair Value Assets Measured On Nonrecurring Basis Unobservable Inputs [Line Items]      
Fair Value Inputs, Long-term Revenue Growth Rate 26.00%    
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent (10.00%)    
Fair Value Inputs, Discount Rate 17.00%    
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations [Member] | Income Approach Valuation Technique [Member] | Maximum [Member] | Energy Storage [Member]      
Fair Value Assets Measured On Nonrecurring Basis Unobservable Inputs [Line Items]      
Fair Value Inputs, Long-term Revenue Growth Rate 110.00%    
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent (11.00%)    
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations [Member] | Income Approach Valuation Technique [Member] | Minimum [Member] | Energy Storage [Member]      
Fair Value Assets Measured On Nonrecurring Basis Unobservable Inputs [Line Items]      
Fair Value Inputs, Long-term Revenue Growth Rate 3.00%    
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent (22.00%)    
[1] (2) See Note 14—Asset Impairment Expense for further information.
[2] (1) Represents the carrying values at the dates of measurement, before fair value adjustment.
v3.8.0.1
Fair Value (Instruments Not Measured at Fair Value) (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Carrying Amount [Member]    
Assets, Fair Value Disclosure [Abstract]    
Accounts receivable - noncurrent [1] $ 156 $ 163
Liabilities, Fair Value Disclosure [Abstract]    
Non-recourse debt 15,626 15,340
Recourse debt 4,065 4,630
Fair Value [Member]    
Assets, Fair Value Disclosure [Abstract]    
Value added tax 30 31
Accounts receivable - noncurrent [1] 295 217
Liabilities, Fair Value Disclosure [Abstract]    
Non-recourse debt 16,006 15,890
Recourse debt 4,173 4,920
Level 1 [Member] | Fair Value [Member]    
Assets, Fair Value Disclosure [Abstract]    
Accounts receivable - noncurrent [1] 0 0
Liabilities, Fair Value Disclosure [Abstract]    
Non-recourse debt 0 0
Recourse debt 0 0
Level 2 [Member] | Fair Value [Member]    
Assets, Fair Value Disclosure [Abstract]    
Accounts receivable - noncurrent [1] 0 6
Liabilities, Fair Value Disclosure [Abstract]    
Non-recourse debt 14,250 13,350
Recourse debt 4,173 4,920
Level 3 [Member] | Fair Value [Member]    
Assets, Fair Value Disclosure [Abstract]    
Accounts receivable - noncurrent [1] 295 211
Liabilities, Fair Value Disclosure [Abstract]    
Non-recourse debt 1,756 2,540
Recourse debt $ 0 $ 0
[1] These amounts primarily relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in Other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $30 million and $31 million as of March 31, 2018 and December 31, 2017, respectively.
v3.8.0.1
Derivative Instruments and Hedging Activities - Part 1 (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings $ 6 $ 16  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements 9 8  
Derivative Liability, Fair Value, Gross Liability (41)   $ (30)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) (15) (24)  
Interest Rate Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings (14) 0  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements (6) (10)  
Derivative Liability, Fair Value, Gross Liability (210)   (262)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 16 2  
Interest Rate Contract [Member] | Libor and Euribor [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 4,475    
Cross currency derivatives [Member]      
Derivative Tables [Line Items]      
Derivative Liability, Fair Value, Gross Liability (1)   (3)
Commodity Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings (1) 0  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements 2 3  
Derivative Liability, Fair Value, Gross Liability (1)   (20)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 1 0  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings (9) 16  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements 5 1  
Derivative Liability, Fair Value, Gross Liability (253)   $ (315)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease) 2 (22)  
Unidad de Fomento (funds code) | Cross currency derivatives [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 419    
Argentina, Pesos | Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 180    
Chile, Pesos | Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 285    
Colombia, Pesos | Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 388    
Other unspecified currency [Domain] | Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Derivatives, notional amount 327    
Other comprehensive income - Derivative activity [Member] | Foreign Exchange Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0  
Other comprehensive income - Derivative activity [Member] | Interest Rate Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) (27) 12  
Other comprehensive income - Derivative activity [Member] | Commodity Contract [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 0  
Other comprehensive income - Derivative activity [Member]      
Derivative Tables [Line Items]      
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) $ (27) $ 12  
v3.8.0.1
Derivative Instruments and Hedging Activities - Part 2 (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Liabilities    
Derivative Liabilities, Gross $ 253 $ 315
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 360 348
Other Current Assets [Member]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 70 84
Other Current Liabilities [Member]    
Liabilities    
Derivative Liabilities, Gross 170 211
Other Noncurrent Assets [Member]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 290 264
Other Noncurrent Liabilities [Member]    
Liabilities    
Derivative Liabilities, Gross 83 104
Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 92 138
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 99 57
Not Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 161 177
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 261 291
Interest Rate Contract [Member]    
Liabilities    
Derivative Liabilities, Gross 210 262
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 42 15
Interest Rate Contract [Member] | Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 90 125
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 41 15
Interest Rate Contract [Member] | Not Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 120 137
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 1 0
Cross currency derivatives [Member]    
Liabilities    
Derivative Liabilities, Gross 1 3
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 45 29
Cross currency derivatives [Member] | Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 1 3
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 45 29
Cross currency derivatives [Member] | Not Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 0 0
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 0 0
Foreign Exchange Contract [Member]    
Liabilities    
Derivative Liabilities, Gross 41 30
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 262 269
Foreign Exchange Contract [Member] | Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 1 1
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 13 8
Foreign Exchange Contract [Member] | Not Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 40 29
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 249 261
Commodity Contract [Member]    
Liabilities    
Derivative Liabilities, Gross 1 20
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 11 35
Commodity Contract [Member] | Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 0 9
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross 0 5
Commodity Contract [Member] | Not Designated as Hedging Instruments [Member]    
Liabilities    
Derivative Liabilities, Gross 1 11
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract]    
Derivative Assets, Gross $ 11 $ 30
v3.8.0.1
Derivative Instruments and Hedging Activities - Part 3 (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flow Hedging [Member]    
Derivative Instruments Gain Loss [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net $ (9) $ (21)
Gain Loss By Type Of Derivative Tables    
Gain (Losses) Recognized in AOCL 72 (13)
Cash Flow Hedging [Member] | Commodity Contract [Member]    
Derivative Instruments Gain Loss [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (4) 1
Gain Loss By Type Of Derivative Tables    
Gain (Losses) Recognized in AOCL 0 12
Cash Flow Hedging [Member] | Foreign currency derivatives [Member]    
Derivative Instruments Gain Loss [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net 1 (2)
Gain Loss By Type Of Derivative Tables    
Gain (Losses) Recognized in AOCL 6 (15)
Cash Flow Hedging [Member] | Cross currency derivatives [Member]    
Derivative Instruments Gain Loss [Line Items]    
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net 10 4
Gain Loss By Type Of Derivative Tables    
Gain (Losses) Recognized in AOCL 19 12
Cash Flow Hedging [Member] | Interest Rate Contract [Member]    
Derivative Instruments Gain Loss [Line Items]    
Accumulated Other Comprehensive Income Loss Before Tax Expected Increase Decrease Next Twelve Months 44  
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (16) (24)
Gain Loss By Type Of Derivative Tables    
Gain (Losses) Recognized in AOCL 47 (22)
Not Designated as Hedging Instrument [Member]    
Gain Loss By Type Of Derivative Tables    
Gains (Losses) Recognized in Earnings (not designated as hedging instruments) 117 (34)
Not Designated as Hedging Instrument [Member] | Other Contract [Member]    
Gain Loss By Type Of Derivative Tables    
Gains (Losses) Recognized in Earnings (not designated as hedging instruments) 9 (2)
Not Designated as Hedging Instrument [Member] | Foreign currency derivatives [Member]    
Gain Loss By Type Of Derivative Tables    
Gains (Losses) Recognized in Earnings (not designated as hedging instruments) $ 108 $ (32)
v3.8.0.1
Derivative Instruments and Hedging Activities Credit Risk-Related Contingent Features (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivative [Line Items]    
Derivative, Net Liability Position, Aggregate Fair Value $ 253 $ 315
Contracts Subject To Netting Arrangements [Member]    
Derivative [Line Items]    
Derivative, Net Liability Position, Aggregate Fair Value   15
Collateral Already Posted, Aggregate Fair Value   $ 9
v3.8.0.1
Financing Receivables (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Jan. 01, 2018
Dec. 31, 2017
Financing Receivable Recorded Investment [Line Items]      
Financing receivable $ 186   $ 194
Argentina [Member]      
Financing Receivable Recorded Investment [Line Items]      
Financing receivable 174   177
Other Entity [Member]      
Financing Receivable Recorded Investment [Line Items]      
Financing receivable $ 12   $ 17
Fluence [Member]      
Financing Receivable Recorded Investment [Line Items]      
Business Acquisition, Percentage of Voting Interests Acquired   50.00%  
v3.8.0.1
Investments In and Advances To Affiliates (Details) - USD ($)
$ in Millions
 3 Months Ended
Jan. 01, 2018
Nov. 15, 2017
Jul. 25, 2017
Mar. 31, 2018
Mar. 31, 2017
Investments in and Advances to Affiliates [Line Items]          
Revenue       $ 2,740  
Operating margin       656 $ 557
Net income       777 98
Income (Loss) from Equity Method Investments       11 7
Minority Owned Affiliates [Member]          
Investments in and Advances to Affiliates [Line Items]          
Revenue       206 167
Operating margin       28 32
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest       12 11
Parent [Member]          
Investments in and Advances to Affiliates [Line Items]          
Net income       684 (24)
sPower [Member]          
Investments in and Advances to Affiliates [Line Items]          
Equity Method Investment, Ownership Percentage   2.00% 48.00%    
Payments to Acquire Businesses, Net of Cash Acquired   $ 19 $ 461    
Fluence [Member]          
Investments in and Advances to Affiliates [Line Items]          
Payments to Acquire Interest in Joint Venture $ 7        
Business Acquisition, Percentage of Voting Interests Acquired 50.00%        
Fair Value of Assets Acquired $ 50        
Non-cash [Member] | Fluence [Member]          
Investments in and Advances to Affiliates [Line Items]          
Contribution of Property $ 20     $ 20 $ 0
v3.8.0.1
Debt - Recourse Debt (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Mar. 01, 2017
Debt Instrument [Line Items]        
Gain (loss) on extinguishment of debt   $ (170) $ 17  
7.375% Senior Notes Due 2021 [Member] [Member]        
Debt Instrument [Line Items]        
Redeemed notes $ 276 690    
5.5% Senior Notes Due 2024 [Member] [Member]        
Debt Instrument [Line Items]        
Redeemed notes   671    
5.5% Senior Notes Due 2025 [Member] [Member]        
Debt Instrument [Line Items]        
Redeemed notes   29    
8.0% Senior Notes Due 2020 [Domain]        
Debt Instrument [Line Items]        
Redeemed notes $ 24 $ 228    
Senior Notes [Member] | 4.0% Senior Notes Due 2021 [Domain] [Domain]        
Debt Instrument [Line Items]        
Interest rate on senior notes   4.00%    
Issued senior notes   $ 500    
Senior Notes [Member] | 4.5% Senior Notes Due 2023 [Domain] [Domain]        
Debt Instrument [Line Items]        
Interest rate on senior notes   4.50%    
Issued senior notes   $ 500    
Senior Notes [Member] | 5.5% Senior Notes Due 2024 [Member] [Member]        
Debt Instrument [Line Items]        
Interest rate on senior notes   5.50%    
Senior Notes [Member] | 5.5% Senior Notes Due 2025 [Member] [Member]        
Debt Instrument [Line Items]        
Interest rate on senior notes   5.50%    
Unsecured Debt [Member] | 7.375% Senior Notes Due 2021 [Member] [Member]        
Debt Instrument [Line Items]        
Interest rate on senior notes       7.375%
Unsecured Debt [Member] | 8.0% Senior Notes Due 2020 [Domain]        
Debt Instrument [Line Items]        
Interest rate on senior notes       8.00%
Unsecured Debt [Member] | Recourse Debt [Member] | 4.0% Senior Notes Due 2021 [Domain] [Domain]        
Debt Instrument [Line Items]        
Gain (loss) on extinguishment of debt   $ (125)    
Unsecured Debt [Member] | Recourse Debt [Member] | 5.5% Senior Notes Due 2024 [Member] [Member]        
Debt Instrument [Line Items]        
Gain (loss) on extinguishment of debt   $ (44)    
Unsecured Debt [Member] | Recourse Debt [Member] | 8.0% Senior Notes Due 2020 [Domain]        
Debt Instrument [Line Items]        
Gain (loss) on extinguishment of debt     $ (47)  
London Interbank Offered Rate (LIBOR) [Member] | LIBOR 2.00% Senior Notes Due in 2022 [Member] | Recourse Debt [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate      
London Interbank Offered Rate (LIBOR) [Member] | Senior Unsecured Note LIBOR plus 3% due 2019 [Member] | Recourse Debt [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate      
v3.8.0.1
Debt - Non-Recourse Debt Narrative (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Feb. 28, 2017
USD ($)
Mar. 31, 2018
USD ($)
Mar. 31, 2017
USD ($)
Debt Instrument [Line Items]      
Debt defaults at risk of causing cross default   0  
Loss on extinguishment of debt   $ 170 $ (17)
Proceeds from Issuance of Debt $ 75    
Nonrecourse Debt [Member]      
Debt Instrument [Line Items]      
Loss on extinguishment of debt   0  
Issued new debt   579  
Repayments of Long-term Debt   (231)  
Nonrecourse Debt [Member] | AES Southland [Domain]      
Debt Instrument [Line Items]      
Loss on extinguishment of debt   0  
Issued new debt   194  
Repayments of Long-term Debt   0  
Nonrecourse Debt [Member] | AES Tiete [Domain]      
Debt Instrument [Line Items]      
Loss on extinguishment of debt   0  
Issued new debt   385  
Repayments of Long-term Debt   $ (231)  
Nonrecourse Debt [Member] | Andes - Generation [Member]      
Debt Instrument [Line Items]      
Loss on extinguishment of debt     (65)
7.75% Senior Notes Due 2024 [Member] | Nonrecourse Debt [Member] | Andes - Generation [Member]      
Debt Instrument [Line Items]      
Issued new debt     $ 300
v3.8.0.1
Debt - Subsidiary Non-recourse Debt in Default or Accelerated (Details)
$ in Millions
Mar. 31, 2018
USD ($)
Nonrecourse Debt Default [Line Items]  
Materiality threshold for cash distribution from business to Parent 20.00%
Debt defaults at risk of causing cross default 0
Debt Default Amount $ 998
Covenant Violation [Member] | Alto Maipo [Member]  
Nonrecourse Debt Default [Line Items]  
Net Assets 359
Debt Default Amount 629
Covenant Violation [Member] | PUERTO RICO  
Nonrecourse Debt Default [Line Items]  
Net Assets 124
Debt Default Amount 334
Covenant Violation [Member] | AES llumina [Member]  
Nonrecourse Debt Default [Line Items]  
Net Assets 16
Debt Default Amount $ 35
v3.8.0.1
Contingencies and Commitments (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
agreement
Mar. 31, 2017
USD ($)
Dec. 31, 2017
USD ($)
Guarantees Letters Of Credit [Abstract]      
The range of expiration dates of guarantees made by the Parent Company less than one year to more than 17 years    
Contingent Contractual Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 910    
Number of Agreements | agreement 49    
Loss Contingency Accrual, Period Increase (Decrease) $ 0 $ 12  
Environmental Remediation Contingency [Domain]      
Contingent Contractual Obligations [Line Items]      
Accrual for Environmental Loss Contingencies 5   $ 5
Guarantee Obligations [Member]      
Contingent Contractual Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 795    
Number of Agreements | agreement 24    
Indemnification Agreement [Member]      
Contingent Contractual Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted [1] $ 27    
Number of Agreements | agreement [1] 1    
Minimum [Member] | Guarantee Obligations [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 0    
Minimum [Member] | Indemnification Agreement [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss [1] 27    
Minimum [Member] | Standby Letters of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 0    
Letter of credit fee percentage paid 1.33%    
Maximum [Member] | Environmental Remediation Contingency [Domain]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 19    
Maximum [Member] | Guarantee Obligations [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss 272    
Maximum [Member] | Indemnification Agreement [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss [1] 27    
Maximum [Member] | Standby Letters of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 0    
Letter of credit fee percentage paid 3.00%    
Unsecured Debt [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 52    
Number of Agreements | agreement 4    
Unsecured Debt [Member] | Minimum [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 2    
Unsecured Debt [Member] | Maximum [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss 26    
Secured Debt [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Guarantor Obligations, Maximum Exposure, Undiscounted $ 36    
Number of Agreements | agreement 20    
Secured Debt [Member] | Minimum [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 0    
Secured Debt [Member] | Maximum [Member] | Financial Standby Letter of Credit [Member]      
Contingent Contractual Obligations [Line Items]      
Loss Contingency, Estimate of Possible Loss $ 13    
[1] (1) Excludes normal and customary representations and warranties in agreements for the sale of assets (including ownership in associated legal entities) where the associated risk is considered to be nominal.
v3.8.0.1
Contingencies and Commitments - Loss Contingencies (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Litigation Contingencies      
Loss Contingency Accrual, Period Increase (Decrease) $ 0 $ 12  
Environmental Remediation Contingency [Domain]      
Environmental Contingencies      
Liability recorded for projected environmental remediation costs 5   $ 5
Litigation [Member]      
Litigation Contingencies      
Aggregate reserves for claims deemed both probable and reasonably estimable 51   $ 50
Maximum [Member] | Environmental Remediation Contingency [Domain]      
Litigation Contingencies      
Loss Contingency, Estimate of Possible Loss ( Equal to or less than) 19    
Maximum [Member] | Litigation [Member]      
Litigation Contingencies      
Loss Contingency, Estimate of Possible Loss ( Equal to or less than) 200    
Minimum [Member] | Litigation [Member]      
Litigation Contingencies      
Loss Contingency, Estimate of Possible Loss ( Equal to or less than) $ 100    
v3.8.0.1
Pension Plans (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Foreign Plan [Member]    
Defined Benefit Plan Net Periodic Benefit Cost Abstract    
Service cost $ 3 $ 3
Interest cost 5 5
Expected return on plan assets (5) (5)
Amortization of prior service cost 0 0
Defined Benefit Plan, Amortization of Gain (Loss) (1) 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment 2 0
Total pension cost 6 3
Defined Benefit Pension Contributions Disclosure [Abstract]    
Pension employer contributions 3  
Pension estimated future employer contributions remainder of fiscal year 9  
US and Utilities [Domain]    
Defined Benefit Plan Net Periodic Benefit Cost Abstract    
Service cost 4 3
Interest cost 10 10
Expected return on plan assets (16) (17)
Amortization of prior service cost 1 1
Defined Benefit Plan, Amortization of Gain (Loss) (5) (5)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment 1 4
Total pension cost 5 $ 6
Defined Benefit Pension Contributions Disclosure [Abstract]    
Pension employer contributions 38  
Pension estimated future employer contributions remainder of fiscal year $ 0  
v3.8.0.1
Redeemable Stocks of Subsidiaries (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Temporary Equity [Line Items]      
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests $ 851   $ 837
Temporary Equity, Net Income 5 $ 3  
Noncontrolling Interest, Increase from Sale of Parent Equity Interest 1 18  
Colon [Domain]      
Temporary Equity [Line Items]      
Temporary Equity, Other Charges 10 $ 0  
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests [1] 173   159
IPALCO Enterprises, Inc. [Member]      
Temporary Equity [Line Items]      
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests 618   618
IPL Subsidiary [Member]      
Temporary Equity [Line Items]      
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests $ 60   $ 60
[1] (1) Characteristics of quotas are similar to common stock.
v3.8.0.1
Equity (Details) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Jan. 01, 2018
Dec. 31, 2017
Changes In Equity Disclosure [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax $ 56,000,000      
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest (98,000,000) $ (125,000,000)    
Stockholders' Equity Attributable to Parent 3,193,000,000     $ 2,465,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance 4,845,000,000 5,700,000,000    
Net income 777,000,000 98,000,000    
Net Income (Loss) Attributable to Noncontrolling Interest 93,000,000 121,000,000    
Total foreign currency translation adjustment, net of income tax 9,000,000 71,000,000    
Total change in derivative fair value, net of income tax 67,000,000 15,000,000    
Total pension adjustments, net of income tax 2,000,000 6,000,000    
Cumulative Effect of New Accounting Principle in Period of Adoption [1] 167,000,000 31,000,000    
Preferred Stock, Accretion of Redemption, Discount (6,000,000) 0    
Contributions from noncontrolling interests 1,000,000 17,000,000    
Distributions to noncontrolling interests (9,000,000) (19,000,000)    
Disposition of businesses (249,000,000) 0    
Issuance and exercise of stock-based compensation 1,000,000 1,000,000    
Dividends declared on common stock (86,000,000) (79,000,000)    
Sale of subsidiary shares to noncontrolling interests 1,000,000 18,000,000    
Acquisition of subsidiary shares from noncontrolling interests 0 267,000,000    
Temporary Equity, Net Income 5,000,000 3,000,000    
Ending Balance 5,525,000,000 6,129,000,000    
Additional Paid in Capital 8,397,000,000     8,501,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,808,000,000)   $ (1,857,000,000) $ (1,876,000,000)
AOCI Attributable to Parent [Member]        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Total foreign currency translation adjustment, net of income tax 3,000,000      
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]        
Changes In Equity Disclosure [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 37,000,000      
Accumulated Translation Adjustment [Member]        
Changes In Equity Disclosure [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 19,000,000      
Accumulated Defined Benefit Plans Adjustment [Member]        
Changes In Equity Disclosure [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Total pension adjustments, net of income tax 2,000,000      
Parent [Member]        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance 2,465,000,000 2,794,000,000    
Net income 684,000,000 (24,000,000)    
Total foreign currency translation adjustment, net of income tax 3,000,000 61,000,000    
Total change in derivative fair value, net of income tax 44,000,000 12,000,000    
Total pension adjustments, net of income tax 2,000,000 (1,000,000)    
Cumulative Effect of New Accounting Principle in Period of Adoption [1] 86,000,000 31,000,000    
Preferred Stock, Accretion of Redemption, Discount (6,000,000) 0    
Contributions from noncontrolling interests 0 0    
Distributions to noncontrolling interests 0 0    
Disposition of businesses 0 0    
Issuance and exercise of stock-based compensation 1,000,000 1,000,000    
Dividends declared on common stock (86,000,000) (79,000,000)    
Sale of subsidiary shares to noncontrolling interests 0 (4,000,000)    
Acquisition of subsidiary shares from noncontrolling interests 0 200,000,000    
Temporary Equity, Net Income 0 0    
Ending Balance 3,193,000,000 2,991,000,000    
Noncontrolling Interest [Member]        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Beginning Balance 2,380,000,000 2,906,000,000    
Net income [2] 93,000,000 122,000,000    
Total foreign currency translation adjustment, net of income tax 6,000,000 10,000,000    
Total change in derivative fair value, net of income tax 23,000,000 3,000,000    
Total pension adjustments, net of income tax 0 7,000,000    
Cumulative Effect of New Accounting Principle in Period of Adoption [1] 81,000,000 0    
Preferred Stock, Accretion of Redemption, Discount 0 0    
Contributions from noncontrolling interests 1,000,000 17,000,000    
Distributions to noncontrolling interests (9,000,000) (19,000,000)    
Disposition of businesses (249,000,000) 0    
Issuance and exercise of stock-based compensation 0 0    
Dividends declared on common stock 0 0    
Sale of subsidiary shares to noncontrolling interests 1,000,000 22,000,000    
Acquisition of subsidiary shares from noncontrolling interests 0 67,000,000    
Temporary Equity, Net Income 5,000,000 3,000,000    
Ending Balance 2,332,000,000 $ 3,138,000,000    
Alto Maipo [Member]        
Changes In Equity Disclosure [Line Items]        
Stockholders' Equity Attributable to Parent 196,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Additional Paid in Capital 229,000,000      
Accumulated Other Comprehensive Income (Loss), Net of Tax $ (33,000,000)      
[1] (2) See Note 1—Financial Statement Presentation, New Accounting Standards Adopted for further information.
[2] (1) Net income attributable to noncontrolling interest of $98 million and net loss attributable to redeemable stocks of subsidiaries of $5 million for the three months ended March 31, 2018. Net income attributable to noncontrolling interest of $125 million and net loss attributable to redeemable stock of subsidiaries of $3 million for the three months ended March 31, 2017.
v3.8.0.1
Equity Equity Transactions with Noncontrolling Interests (Details) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Jan. 01, 2018
Dec. 31, 2017
Noncontrolling Interest [Line Items]        
Temporary Equity, Net Income $ 5,000,000 $ 3,000,000    
Noncontrolling Interest, Increase from Sale of Parent Equity Interest (1,000,000) (18,000,000)    
Additional Paid in Capital 8,397,000,000     $ 8,501,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,808,000,000)   $ (1,857,000,000) (1,876,000,000)
Stockholders' Equity Attributable to Parent 3,193,000,000     $ 2,465,000,000
Loss (gain) on sales and disposals of businesses $ (788,000,000) 0    
Alto Maipo [Member]        
Noncontrolling Interest [Line Items]        
Business Acquisition, Percentage of Voting Interests Acquired 40.00%      
Noncontrolling Interest, Ownership Percentage by Parent 62.00%      
Additional Paid in Capital $ 229,000,000      
Accumulated Other Comprehensive Income (Loss), Net of Tax $ (33,000,000)      
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners 6.70%      
Stockholders' Equity Attributable to Parent $ 196,000,000      
Loss (gain) on sales and disposals of businesses   $ 0    
v3.8.0.1
Equity Accumulated Other Comprehensive Loss (Details) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Jan. 01, 2018
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Retained Earnings (Accumulated Deficit) $ (1,525,000,000)   $ (2,209,000,000) $ (2,276,000,000)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 49,000,000      
Other Comprehensive Income (Loss), Net of Tax 78,000,000 $ 92,000,000    
Unfunded pension obligation, Net of Tax (55,000,000)     (57,000,000)
Foreign currency translation adjustment, Net of Tax (1,483,000,000)     (1,486,000,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax (1,808,000,000)   (1,857,000,000) (1,876,000,000)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 56,000,000      
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax (270,000,000)     $ (333,000,000)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (7,000,000)      
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 9,000,000 71,000,000    
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax 57,000,000 (5,000,000)    
Total pension adjustments, net of income tax 2,000,000 $ 6,000,000    
AOCI Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 3,000,000      
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 37,000,000      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 7,000,000      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax 44,000,000      
Accumulated Defined Benefit Plans Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 0      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 2,000,000      
Total pension adjustments, net of income tax 2,000,000      
Accumulated Translation Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 19,000,000      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (16,000,000)      
Alto Maipo [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (33,000,000)      
ASC 606 Impact [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Retained Earnings (Accumulated Deficit) 76,000,000   67,000,000  
Accumulated Other Comprehensive Income (Loss), Net of Tax 19,000,000   $ 19,000,000  
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 19,000,000      
ASC 606 Impact [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 19,000,000      
ASC 606 Impact [Member] | Accumulated Translation Adjustment [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax $ 0      
v3.8.0.1
Equity Reclassifications Out of AOCL (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Non-regulated revenue $ (2,018) $ (1,768)
Regulated cost of sales (601) (703)
Non-regulated cost of sales (1,483) (1,321)
General and Administrative Expense (56) (54)
Other Expenses (9) (24)
Interest expense (281) (287)
Foreign currency transaction losses (19) (20)
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES 998 157
Income tax expense (231) (67)
Income (Loss) from Equity Method Investments 11 7
INCOME FROM CONTINUING OPERATIONS 778 97
Net income 777 98
Less: Net income from operations attributable to noncontrolling interests and redeemable stock of subsidiaries (98) (125)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest 0 (1)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION 684 (24)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (7)  
Gain (Loss) on Disposition of Business (788) 0
Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 7 (24)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (16)  
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Nonoperating Gains (Losses) 16 (3)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION 16 (3)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
General and Administrative Expense (1) 1
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES (1) 1
INCOME FROM CONTINUING OPERATIONS (1) 1
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax (1) (7)
Net income (2) (6)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Non-regulated revenue 4 (10)
Non-regulated cost of sales (1) (10)
Interest expense (15) (23)
Foreign currency transaction losses 11 2
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES (9) (21)
Income tax expense (1) 1
INCOME FROM CONTINUING OPERATIONS (10) (20)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Less: Net income from operations attributable to noncontrolling interests and redeemable stock of subsidiaries 3 0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 7  
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION (7) (20)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 2  
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassifications Out Of Accumulated Other Comprehensive Income [Line Items]    
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest 0 5
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION $ (2) $ (1)
v3.8.0.1
Equity Common Stock Dividends (Details) - USD ($)
$ / shares in Units, $ in Millions
 2 Months Ended 3 Months Ended
Apr. 23, 2018
Mar. 31, 2018
Mar. 31, 2017
Common Stock, Dividends, Per Share, Cash Paid   $ 0.13  
Common Stock, Dividends, Per Share, Declared   $ 0.13 $ 0.12
Noncontrolling Interest, Increase from Sale of Parent Equity Interest   $ (1) $ (18)
Scenario, Forecast [Member]      
Common Stock, Dividends, Per Share, Declared $ 0.13    
v3.8.0.1
Segments (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2018
USD ($)
segment
Mar. 31, 2017
USD ($)
Dec. 31, 2017
USD ($)
Segment Reporting Information [Line Items]      
Number of strategic business units | segment 4    
Number of reportable segments | segment 4    
Revenue      
Total Revenue $ 2,740    
Adjusted PTC      
Adjusted Pretax Contribution 288 $ 190  
Reconciliation To Income From Continuing Operations Before Taxes      
Unrealized derivative losses (gains) 12 (1)  
Unrealized foreign currency transaction losses (gains) (3) (9)  
Disposition/acquisition losses (gains) (778) 52  
Impairment losses 0 168  
Extinguishment of debt losses (gains) 171 (16)  
Pretax contribution 883 (4)  
Net equity in earnings of affiliates 11 7  
Less: Income (loss) from continuing operations before taxes, attributable to noncontrolling interests (126) (168)  
Income (loss) from continuing operations before taxes and equity in earnings of affiliates 998 157  
Restructuring Costs 3 0  
Assets      
Total Assets 32,573   $ 33,112
Operating Segments [Member]      
Revenue      
Total Revenue 2,740 2,581  
Adjusted PTC      
Adjusted Pretax Contribution 288 190  
Intersegment Eliminations [Member]      
Revenue      
Total Revenue (18) (4)  
US and Utilities [Domain]      
Revenue      
Total Revenue 1,027    
Assets      
Total Assets 11,633   11,297
US and Utilities [Domain] | Operating Segments [Member]      
Revenue      
Total Revenue 1,027 1,047  
Adjusted PTC      
Adjusted Pretax Contribution 120 61  
MCAC [Member]      
Revenue      
Total Revenue 408    
Assets      
Total Assets 4,322   4,087
MCAC [Member] | Operating Segments [Member]      
Revenue      
Total Revenue 408 348  
Adjusted PTC      
Adjusted Pretax Contribution 53 46  
EURASIA [Member]      
Revenue      
Total Revenue 419    
Assets      
Total Assets 4,855   4,557
EURASIA [Member] | Operating Segments [Member]      
Revenue      
Total Revenue 419 429  
Adjusted PTC      
Adjusted Pretax Contribution 83 77  
Corporate Other And Other Eliminations [Member]      
Revenue      
Total Revenue (9)    
Assets      
Total Assets 292   263
Corporate Other And Other Eliminations [Member] | Operating Segments [Member]      
Revenue      
Total Revenue 9 14  
Adjusted PTC      
Adjusted Pretax Contribution (104) (121)  
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]      
Assets      
Total Assets 358   2,034
South America [Member]      
Revenue      
Total Revenue 895    
Assets      
Total Assets 11,113   $ 10,874
South America [Member] | Operating Segments [Member]      
Revenue      
Total Revenue 895 747  
Adjusted PTC      
Adjusted Pretax Contribution $ 136 $ 127  
v3.8.0.1
Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue $ 722 $ 813
Electrical Generation Revenue 2,018 $ 1,768
Revenues 2,740  
Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 711  
Other non-606 revenue 11  
Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 1,811  
Other non-606 revenue 207  
US and Utilities [Domain]    
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue 722  
Electrical Generation Revenue 305  
Revenues 1,027  
US and Utilities [Domain] | Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 711  
Other non-606 revenue 11  
US and Utilities [Domain] | Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 208  
Other non-606 revenue 97  
South America [Member]    
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue 0  
Electrical Generation Revenue 895  
Revenues 895  
South America [Member] | Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 0  
Other non-606 revenue 0  
South America [Member] | Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 894  
Other non-606 revenue 1  
MCAC - Generation [Member]    
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue 0  
Electrical Generation Revenue 408  
Revenues 408  
MCAC - Generation [Member] | Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 0  
Other non-606 revenue 0  
MCAC - Generation [Member] | Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 387  
Other non-606 revenue 21  
Eurasia - Generation [Member]    
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue 0  
Electrical Generation Revenue 419  
Revenues 419  
Eurasia - Generation [Member] | Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 0  
Other non-606 revenue 0  
Eurasia - Generation [Member] | Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 331  
Other non-606 revenue 88  
Corporate Other And Other Eliminations [Member]    
Disaggregation of Revenue [Line Items]    
Electrical Distribution Revenue 0  
Electrical Generation Revenue (9)  
Revenues (9)  
Corporate Other And Other Eliminations [Member] | Regulated Revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax 0  
Other non-606 revenue 0  
Corporate Other And Other Eliminations [Member] | Non-regulated revenue [Member]    
Disaggregation of Revenue [Line Items]    
Revenue from Contract with Customer, Excluding Assessed Tax (9)  
Other non-606 revenue $ 0  
v3.8.0.1
Revenue Contract Balances (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Jan. 01, 2018
Dec. 31, 2017
Revenue from Contract with Customer [Abstract]      
Contract with Customer, Liability $ 110 $ 115  
Contract with Customer, Liability, Revenue Recognized 22    
Notes, Loans and Financing Receivable, Gross, Noncurrent $ 1,474 $ 1,490 $ 0
v3.8.0.1
Revenue Remaining Performance Obligations (Details)
$ in Millions
Mar. 31, 2018
USD ($)
Remaining Performance Obligations [Abstract]  
Revenue, Remaining Performance Obligation $ 21
v3.8.0.1
Other Income and Expense - Other Income (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Schedule of Other Nonoperating Income [Line Items]    
Other income $ 13 $ 73
Other Income [Member]    
Schedule of Other Nonoperating Income [Line Items]    
Litigation Settlement, Amount Awarded from Other Party [1] 0 60
Public Utilities, Allowance for Funds Used During Construction, Additions 5 7
Other Nonoperating Income 8 6
Other income $ 13 $ 73
[1] (1) In December 2016, the Company and YPF entered into a settlement agreement in which all parties agreed to give up any and all legal action related to gas supply contracts that were terminated in 2008 and have been in dispute since 2009. In January 2017, the YPF board approved the agreement and paid the Company $60 million, thereby resolving all uncertainties around the dispute.
v3.8.0.1
Other Income and Expense - Other Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Schedule of other expense [Line Items]    
Gain (Loss) on Disposition of Assets $ (2) $ (12)
Other Expenses 9 24
Other Expense [Member]    
Schedule of other expense [Line Items]    
Gain (Loss) on Disposition of Assets 2 21
Defined Benefit Plan, Other Cost (Credit) [1] 5 3
Other Nonoperating Expense 2 0
Other Expenses $ 9 $ 24
[1] (2) As of January 1, 2018, the Company retrospectively adopted ASU 2017-07, Compensation —Retirement Benefits. As such, $3 million of non-service costs associated with defined benefit plans for the three months ended March 31, 2017 were reclassified from Cost of Sales to Other Expense.
v3.8.0.1
Asset Impairment Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Asset Impairment Expense [Line Items]      
Impairment of Long-Lived Assets Held-for-use $ 0 $ 168  
Alto Maipo [Member]      
Asset Impairment Expense [Line Items]      
Assets Carrying Amount Disclosure Nonrecurring $ 1,500    
Kazakhstan [Member]      
Asset Impairment Expense [Line Items]      
Impairment of Long-Lived Assets to be Disposed of   94  
DPL Subsidiary [Member]      
Asset Impairment Expense [Line Items]      
Impairment of Long-Lived Assets Held-for-use   66  
Other Impairment [Member]      
Asset Impairment Expense [Line Items]      
Impairment of Long-Lived Assets Held-for-use   8  
Long Lived Assets Held For Sale [Member] | Kazakhstan [Member]      
Asset Impairment Expense [Line Items]      
Assets Carrying Amount Disclosure Nonrecurring   171  
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)     $ 92
Fair Value Less Costs To Sell   29  
Impairment of Long-Lived Assets to be Disposed of     $ 94
Long Lived Assets Held And Used [Member] | Stuart Station [Member]      
Asset Impairment Expense [Line Items]      
Assets, fair value   3  
Long Lived Assets Held And Used [Member] | Killen Station [Member]      
Asset Impairment Expense [Line Items]      
Assets, fair value   $ 8  
v3.8.0.1
Dispositions Dispositions (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Impairment of Long-Lived Assets Held-for-use $ 0 $ 168
Proceeds from the sale of businesses, net of cash and restricted cash sold 1,180 4
Gain (Loss) on Disposition of Business (788) 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Income (Loss) from Individually Significant Component Disposed of or Held-for-sale, Excluding Discontinued Operations, Attributable to Parent, before Income Tax 16 23
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Masinloc Subsidiary [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Income (Loss) from Individually Significant Component Disposed of or Held-for-sale, Excluding Discontinued Operations, Attributable to Parent, before Income Tax 9 23
Proceeds from the sale of businesses, net of cash and restricted cash sold 1,050  
Gain (Loss) on Disposition of Business 777  
Tax on gain (loss) on disposition of business 155  
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | DPL Peaking Generation [Domain]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Income (Loss) from Individually Significant Component Disposed of or Held-for-sale, Excluding Discontinued Operations, Attributable to Parent, before Income Tax 7 0
Proceeds from the sale of businesses, net of cash and restricted cash sold 239  
Gain (Loss) on Disposition of Business (2)  
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Beckjord Facility [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal (12)  
Asset Retirement Obligation, Cash Paid to Settle (15)  
Disposal Group, Not Discontinued Operations [Member] | Advancion Energy Storage [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Gain (Loss) on Disposition of Business $ 23  
Kazakhstan [Member]    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Impairment of Long-Lived Assets to be Disposed of   $ 94
v3.8.0.1
Acquisitions (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 15, 2017
Jul. 25, 2017
Mar. 31, 2018
Sep. 30, 2017
Jan. 01, 2018
sPower [Member]          
Business Acquisition [Line Items]          
Payments to Acquire Businesses, Net of Cash Acquired $ 19 $ 461      
Alto Sertao II [Member]          
Business Acquisition [Line Items]          
Business Combination, Contingent Consideration, Liability     $ 18    
Fluence [Member]          
Business Acquisition [Line Items]          
Business Acquisition, Percentage of Voting Interests Acquired         50.00%
Bauru Solar Complex [Member]          
Business Acquisition [Line Items]          
Payments to Acquire Businesses, Net of Cash Acquired       $ 55  
Other Payments to Acquire Businesses       $ 140  
Project Financing Disbursed     $ 78    
v3.8.0.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
BASIC EARNINGS PER SHARE    
Income (loss) from continuing operations attributable to The AES Corporation common stockholders (Income) $ 685 $ (24)
Income (loss) from continuing operations attributable to The AES Corporation common stockholders (Shares) 661 659
Income from continuing operations attributable to The AES Corporation common stockholders, net of tax $ 1.04 $ (0.04)
EFFECT OF DILUTIVE SECURITIES    
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units $ 0 $ 0
Restricted stock units (Shares) 2 0
Dilutive Securities Effect On Basic EPS, dilutive Restricted Stock Units, per diluted share $ (0.01) $ 0.00
DILUTED EARNINGS PER SHARE:    
Income (Loss) from Continuing Operations, Per Diluted Share $ 1.03 $ (0.04)
Income Loss From Continuing Operations Diluted $ 685 $ (24)
Weighted Average Number of Shares Outstanding, Diluted 663 659
Convertible Debt Securities [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount   15
Stock Compensation Plan [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 6 7
Restricted Stock Units (RSUs) [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount   4
Weighted Average [Member] | Restricted Stock Units (RSUs) [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount   3
v3.8.0.1
Subsequent Events (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 09, 2018
Mar. 31, 2018
Mar. 31, 2017
Subsequent Event [Line Items]      
Gain (Loss) on Disposition of Business   $ (788) $ 0
Subsequent Event [Member]      
Subsequent Event [Line Items]      
Payments to Acquire Businesses, Net of Cash Acquired $ 34    
v3.8.0.1
Discontinued Operations and Held for sale businesses (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2017
Nov. 30, 2017
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Mar. 20, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Discontinued Operation, Equity Method Investment Retained after Disposal, Ownership Interest Prior to Disposal 17.00%          
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax $ (1,486)   $ (1,483)   $ (1,486)  
Cash Provided by (Used in) Operating Activities, Discontinued Operations       $ 168    
Disposal Group, Including Discontinued Operation, Revenue       919    
Disposal Group, Including Discontinued Operation, Costs of Goods Sold       (874)    
Disposal Group, Including Discontinued Operation, Other Expense       (42)    
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax       3    
Income (loss) on discontinued operations, before tax, attributable to Noncontrolling interest       (1)    
Income (loss) from discontinued operations, before income tax, attributable to parent       2    
Discontinued Operation, Tax Effect of Discontinued Operation     0 (2)    
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent     (1) 0    
Disposal Group, Including Discontinued Operation, Assets 2,034   358   2,034  
Disposal Group, Including Discontinued Operation, Liabilities 1,033   63   1,033  
Cash Provided by (Used in) Investing Activities, Discontinued Operations       (127)    
Proceeds from Divestiture of Businesses and Interests in Affiliates     1,180 4    
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Assets 1,948   269   1,948  
Disposal Group, Including Discontinued Operation, Liabilities 1,033   63   1,033  
Masinloc Subsidiary [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from Divestiture of Businesses and Interests in Affiliates     1,050      
Electrica Santiago (Gener ESSA) [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from Divestiture of Businesses and Interests in Affiliates         300  
Masinloc Subsidiary [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Noncontrolling Interest, Ownership Percentage by Parent           51.00%
Eletropaulo Subsidiary [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operations, Investments in and Advances to Affiliates 86   89   86  
Deconsolidation, Gain (Loss), Amount   $ (611)        
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)         (455)  
Disposal Group, Including Discontinued Operation, Pension Gains (Losses)         (243)  
Eletropaulo Subsidiary [Member] | Discontinued Operations [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Assets $ 86   89   86  
Kazakhstan [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Impairment of Long-Lived Assets to be Disposed of       94    
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Electrica Santiago (Gener ESSA) [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Assets Carrying Amount Disclosure Nonrecurring     $ 207      
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Kazakhstan [Member]            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Assets Carrying Amount Disclosure Nonrecurring       171    
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)         92  
Fair Value Less Costs To Sell       $ 29    
Impairment of Long-Lived Assets to be Disposed of         $ 94  
v3.8.0.1
Risks and Uncertainties (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Unusual Risk or Uncertainty [Line Items]    
Debt Default Amount $ 998  
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 1,282 $ 1,197
PUERTO RICO | Covenant Violation [Member]    
Unusual Risk or Uncertainty [Line Items]    
Debt Default Amount 334  
Alto Maipo [Member] | Covenant Violation [Member]    
Unusual Risk or Uncertainty [Line Items]    
Debt Default Amount 629  
AES llumina [Member] | Covenant Violation [Member]    
Unusual Risk or Uncertainty [Line Items]    
Debt Default Amount 35  
Alto Maipo [Member]    
Unusual Risk or Uncertainty [Line Items]    
Assets Carrying Amount Disclosure Nonrecurring 1,500  
Deferred Tax Assets, Net 55  
Project Budgeted Cost $ 2,000  
v3.8.0.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 20, 2018
Income Tax Disclosures [Line Items]      
Effective Income Tax Rate Reconciliation, Percent 23.00% 43.00%  
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 21.00% 35.00%  
Gain (Loss) on Disposition of Business $ (788) $ 0  
Masinloc Subsidiary [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]      
Income Tax Disclosures [Line Items]      
Gain (Loss) on Disposition of Business 777    
Tax on gain (loss) on disposition of business $ 155    
Masinloc Subsidiary [Member]      
Income Tax Disclosures [Line Items]      
Disposal Group Not Discontinued Operation Ownership Interest Sold     51.00%
v3.8.0.1
Label Element Value
Dividends Payable us-gaap_DividendsPayableCurrentAndNoncurrent $ 79,000,000
Other Debt Obligations [Member] | Available-for-sale Securities [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 207,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 291,000,000
Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 207,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 291,000,000
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Equity Funds [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 3,000,000
Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Equity Funds [Member] | Fair Value, Inputs, Level 2 [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 3,000,000
Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member]  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue $ 0