Other Non-Operating Expense

6 Months Ended

Jun. 30, 2015

Other Expense, Nonoperating [Abstract]

Other Nonoperating Income and Expense [Text Block]

There was no other non-operating expense for the three and six months ended June 30, 2015.

Silver Ridge —On June 16, 2014, the Company executed an agreement to sell its 50% ownership interest in Silver Ridge Power, LLC (“SRP”) for a purchase price of $165 million, subject to certain purchase price adjustments, and excluding the Company’s indirect ownership interests in SRP’s solar generation businesses in Italy, Puerto Rico and Spain. SRP is a solar power joint venture of AES and Riverstone Holdings LLC with each partner having a 50% ownership interest in SRP. As a result of the Company's continuing interests and involvement in SRP's solar generation businesses in Italy, Puerto Rico, and Spain, the transaction will not result in a sale for accounting purposes until all continuing involvement by AES has been eliminated. The buyer also has an option to purchase the Company's indirect 50% interest in the Italy solar generation business for additional consideration of $42 million by August 2015.

During the second quarter of 2014, the Company determined that there was a decline in the fair value of its equity method investment in SRP that was other than temporary based on indications about the fair value of the projects in Italy and Spain that resulted from actual and proposed changes to their tariffs. As a result, the Company recognized a pretax impairment loss of $44 million in other non-operating expense in the second quarter of 2014. The sale of the 50% ownership interest in SRP closed on July 2, 2014 for $179 million, including purchase price adjustments.