Segments (Tables)

9 Months Ended

Sep. 30, 2013

Information about the Company’s operations by segment for the three and nine months ended September 30, 2013 and 2012 was as follows:



Revenue Three Months Ended September 30,	Total Revenue				Intersegment						External Revenue
Revenue Three Months Ended September 30,	2013		2012		2013			2012			2013		2012
	(in millions)
US — Generation	$	207	$	222	$	—		$	—		$	207	$	222
US — Utilities	763		796		—			—			763		796
Andes — Gener — Generation	539		568		—			(8		)	539		560
Andes — Other — Generation	89		207		—			(1		)	89		206
Brazil — Generation	272		268		(222		)	(260		)	50		8
Brazil — Utilities	1,224		1,448		—			—			1,224		1,448
MCAC — Generation	469		437		—			(1		)	469		436
EMEA — Generation	333		268		—			—			333		268
Asia — Generation	113		191		—			—			113		191
Corporate and Other	217		222		(1		)	(2		)	216		220
Total Revenue	$	4,226	$	4,627	$	(223	)	$	(272	)	$	4,003	$	4,355



Revenue Nine Months Ended September 30,	Total Revenue				Intersegment						External Revenue
Revenue Nine Months Ended September 30,	2013		2012		2013			2012			2013		2012
	(in millions)
US — Generation	$	567	$	636	$	—		$	—		$	567	$	636
US — Utilities	2,159		2,206		—			—			2,159		2,206
Andes — Gener — Generation	1,738		1,711		—			(26		)	1,738		1,685
Andes — Other — Generation	306		568		(1		)	(1		)	305		567
Brazil — Generation	937		847		(752		)	(790		)	185		57
Brazil — Utilities	3,749		4,209		—			—			3,749		4,209
MCAC — Generation	1,398		1,256		(1		)	(2		)	1,397		1,254
EMEA — Generation	970		998		—			(1		)	970		997
Asia — Generation	388		553		—			—			388		553
Corporate and Other	655		646		(5		)	(3		)	650		643
Total Revenue	$	12,867	$	13,630	$	(759	)	$	(823	)	$	12,108	$	12,807



Adjusted Pre-Tax Contribution⁽¹⁾ Three Months Ended September 30,	Total Adjusted Pre-tax Contribution						Intersegment						External Adjusted Pre-tax Contribution
	Total Adjusted Pre-tax Contribution						Intersegment						External Adjusted Pre-tax Contribution
	2013			2012			2013			2012			2013			2012
	(in millions)
US — Generation	$	44		$	40		$	3		$	11		$	47		$	51
US — Utilities	87			108			—			—			87			108
Andes — Gener — Generation	59			88			3			(4		)	62			84
Andes — Other — Generation	50			20			3			1			53			21
Brazil — Generation	37			45			(53		)	(63		)	(16		)	(18		)
Brazil — Utilities	48			40			36			42			84			82
MCAC — Generation	90			87			5			2			95			89
EMEA — Generation	68			53			3			5			71			58
Asia — Generation	30			53			1			—			31			53
Corporate and Other	(126		)	(154		)	(1		)	6			(127		)	(148		)
Total Adjusted Pre-Tax Contribution	387			380			—			—			387			380



Reconciliation to Income from Continuing Operations before Taxes and Equity Earnings of Affiliates:
Non-GAAP Adjustments:
Unrealized derivative gains (losses)	7			(22		)
Unrealized foreign currency gains (losses)	22			22
Disposition/acquisition gains	4			25
Impairment losses	(236		)	(1,893		)
Pre-tax contribution	184			(1,488		)
Add: income from continuing operations before taxes, attributable to noncontrolling interests	217			230
Less: Net equity in earnings of affiliates	15			25
Income (loss) from continuing operations before taxes and equity in earnings of affiliates	$	386		$	(1,283	)



Adjusted Pre-Tax Contribution⁽¹⁾ Nine Months Ended September 30,	Total Adjusted Pre-tax Contribution						Intersegment						External Adjusted Pre-tax Contribution
	Total Adjusted Pre-tax Contribution						Intersegment						External Adjusted Pre-tax Contribution
	2013			2012			2013			2012			2013			2012
	(in millions)
US — Generation	$	150		$	118		$	7		$	31		$	157		$	149
US — Utilities	181			197			1			1			182			198
Andes — Gener — Generation	190			207			8			(14		)	198			193
Andes — Other — Generation	84			61			5			2			89			63
Brazil — Generation	143			142			(181		)	(190		)	(38		)	(48		)
Brazil — Utilities	61			105			122			128			183			233
MCAC — Generation	227			246			11			6			238			252
EMEA — Generation	236			288			6			(3		)	242			285
Asia — Generation	101			141			2			1			103			142
Corporate and Other	(427		)	(503		)	19			38			(408		)	(465		)
Total Adjusted Pre-Tax Contribution	946			1,002			—			—			946			1,002



Reconciliation to Income from Continuing Operations before Taxes and Equity Earnings of Affiliates:
Non-GAAP Adjustments:
Unrealized derivative gains (losses)	46			(88		)
Unrealized foreign currency gains (losses)	(25		)	8
Disposition/acquisition gains	30			206
Impairment losses	(284		)	(1,973		)
Loss on extinguishment of debt	(207		)	—
Pre-tax contribution	506			(845		)
Add: income from continuing operations before taxes, attributable to noncontrolling interests	620			586
Less: Net equity in earnings of affiliates	21			49
Income (loss) from continuing operations before taxes and equity in earnings of affiliates	$	1,105		$	(308	)

_____________________________


⁽¹⁾	Adjusted pre-tax contribution in each segment before intersegment eliminations includes the effect of intercompany transactions with other segments except for interest, charges for certain management fees and the write-off of intercompany balances.

Assets by segment as of September 30, 2013 and December 31, 2012 were as follows:



	Total Assets
	September 30, 2013		December 31, 2012
	(in millions)
Assets
US — Generation	$	3,151	$	3,259
US — Utilities	7,924		7,534
Andes — Gener — Generation	5,969		5,820
Andes — Other — Generation	761		799
Brazil — Generation	1,494		1,590
Brazil — Utilities	7,300		8,120
MCAC — Generation	4,434		4,293
EMEA — Generation	4,125		4,178
Asia — Generation	2,717		2,583
Discontinued businesses	1,609		1,727
Corporate and Other & eliminations	1,766		1,927
Total Assets	$	41,250	$	41,830