Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Quarterly Financial Data — The following tables summarize the unaudited quarterly Condensed Consolidated Statements of Operations for the Company for 2019 and 2018 (amounts in millions, except per share data). Amounts have been restated to reflect discontinued operations in all periods presented and reflect all adjustments necessary in the opinion of management for a fair statement of the results for interim periods.



Quarter Ended 2019	Mar 31		Jun 30		Sep 30		Dec 31
Revenue	$	2,650	$	2,483	$	2,625	$	2,431
Operating margin	586		502		701		560
Income (loss) from continuing operations, net of tax ⁽¹⁾	233		66		298		(120		)
Income from discontinued operations, net of tax	—		1		—		—
Net income (loss)	$	233	$	67	$	298	$	(120	)
Net income (loss) attributable to The AES Corporation	$	154	$	17	$	210	$	(78	)
Basic earnings (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax	$	0.23	$	0.02	$	0.32	$	(0.12	)
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax	—		—		—		—
Net income (loss) attributable to The AES Corporation common stockholders	$	0.23	$	0.02	$	0.32	$	(0.12	)
Diluted earnings (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax	$	0.23	$	0.02	$	0.32	$	(0.12	)
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax	—		—		—		—
Net income (loss) attributable to The AES Corporation common stockholders	$	0.23	$	0.02	$	0.32	$	(0.12	)
Dividends declared per common share	$	0.14	$	—	$	0.14	$	0.28



Quarter Ended 2018	Mar 31			Jun 30		Sep 30			Dec 31
Revenue	$	2,740		$	2,537	$	2,837		$	2,622
Operating margin	656			600		671			646
Income from continuing operations, net of tax ⁽²⁾	778			224		192			155
Income (loss) from discontinued operations, net of tax⁽³⁾	(1		)	192		(1		)	26
Net income	$	777		$	416	$	191		$	181
Net income attributable to The AES Corporation	$	684		$	290	$	101		$	128
Basic earnings per share:
Income from continuing operations attributable to The AES Corporation common stockholders, net of tax	$	1.04		$	0.15	$	0.15		$	0.15
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax	—			0.29		—			0.04
Net income attributable to The AES Corporation common stockholders	$	1.04		$	0.44	$	0.15		$	0.19
Diluted earnings per share:
Income from continuing operations attributable to The AES Corporation common stockholders, net of tax	$	1.03		$	0.15	$	0.15		$	0.15
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax	—			0.29		—			0.04
Net income attributable to The AES Corporation common stockholders	$	1.03		$	0.44	$	0.15		$	0.19
Dividends declared per common share	$	0.13		$	—	$	0.13		$	0.27

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⁽¹⁾	Includes pre-tax impairment expense of $116 million and $69 million, in the second and fourth quarters of 2019, respectively (See Note 22—Asset Impairment Expense), other-than-temporary impairment of OPGC of $92 million and net equity in losses of affiliates, primarily at Guacolda, of $175 million, in the fourth quarter of 2019 (See Note 8—Investments in and Advances to Affiliates).

⁽²⁾

Includes pre-tax gains on sales of business interests of $788 million, $89 million and $128 million, in the first, second and fourth quarters of 2018, respectively, and pre-tax losses of $21 million in the third quarter of 2018 (See Note 25—Held-for-Sale and Dispositions), pre-tax impairment expense of $92 million, $74 million and $42 million, in the second, third and fourth quarters of 2018, respectively (See Note 22—Asset Impairment Expense), other-than-temporary impairment of Guacolda of $144 million in the fourth quarter of 2018 (See Note 8—Investments in and Advances to Affiliates), SAB 118 charges to finalize the provisional estimate of one-time transition tax on foreign earnings of $33 million and $161 million in the third and fourth quarters of 2018, respectively, and a SAB 118 income tax benefit to finalize the provisional estimate of remeasurement of deferred tax assets and liabilities to the lower corporate tax rate of $77 million in the fourth quarter of 2018 (See Note 23—Income Taxes).

⁽³⁾

Includes gain on sale of Eletropaulo of $199 million in the second quarter of 2018 (See Note 24—Discontinued Operations).