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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income from Continuing Operations before taxes and equity in earnings of affiliates [Table Text Block]
The following table shows the income (loss) from continuing operations, before income taxes, net equity in earnings of affiliates and noncontrolling interests, for the periods indicated (in millions):
December 31, 202120202019
U.S.$622 $(135)$(57)
Non-U.S.(1,686)623 1,058 
Total$(1,064)$488 $1,001 
Income Tax Expense On Continuing Operations The following table summarizes the expense for income taxes on continuing operations for the periods indicated (in millions):
December 31, 202120202019
Federal:Current$(2)$(8)$(7)
Deferred42 (17)(4)
State:Current— (1)
Deferred18 — 
Foreign:Current273 458 368 
Deferred(465)(219)(4)
Total$(133)$216 $352 
Reconciliation Of US Federal Income Tax Rates And AES Effective Tax Rate For The Current And Two Prior Years The following table summarizes a reconciliation of the U.S. statutory federal income tax rate to the Company's effective tax rate as a percentage of income from continuing operations before taxes for the periods indicated:
December 31, 202120202019
Statutory Federal tax rate21 %21 %21 %
State taxes, net of Federal tax benefit(6)%(6)%%
Taxes on foreign earnings(2)%15 %12 %
Valuation allowance%16 %(2)%
Uncertain tax positions16 %— %— %
Change in tax law(1)%%(1)%
U.S. Investment Tax Credit— %(8)%— %
Alto Maipo deconsolidation(17)%— %— %
Noncontrolling interest on Buffalo Gap impairments(3)%— %— %
Other—net(2)%%(1)%
Effective tax rate13 %44 %35 %
Schedule Of Income Tax Payable And Receivable The following table summarizes the income taxes receivable and payable as of the periods indicated (in millions):
December 31,20212020
Income taxes receivable—current$184 $138 
Income taxes receivable—noncurrent
Total income taxes receivable$186 $147 
Income taxes payable—current$133 $284 
Income taxes payable—noncurrent— — 
Total income taxes payable$133 $284 
Summary Of Deferred Tax Assets And Liabilities
The following table summarizes deferred tax assets and liabilities, as of the periods indicated (in millions):
December 31, 20212020
Differences between book and tax basis of property$(961)$(1,308)
Investment in U.S. tax partnerships(629)(332)
Other taxable temporary differences(418)(403)
Total deferred tax liability(2,008)(2,043)
Operating loss carryforwards979 1,156 
Capital loss carryforwards77 73 
Bad debt and other book provisions380 87 
Tax credit carryforwards68 78 
Other deductible temporary differences464 471 
Total gross deferred tax asset1,968 1,865 
Less: Valuation allowance(528)(634)
Total net deferred tax asset1,440 1,231 
Net deferred tax liability$(568)$(812)
Uncertain Tax Positions [Table Text Block] The following table shows the total amount of gross accrued income taxes related to interest and penalties included in the Consolidated Balance Sheets for the periods indicated (in millions):
December 31,20212020
Interest related $$
Penalties related— 
The following table shows the expense/(benefit) related to interest and penalties on unrecognized tax benefits for the periods indicated (in millions):
December 31, 202120202019
Total benefit for interest related to unrecognized tax benefits$$— $(2)
Total expense for penalties related to unrecognized tax benefits— — 
Tax Years Potentially Subject To Examination And Jurisdictions The following is a summary of tax years potentially subject to examination in the significant tax and business jurisdictions in which we operate:
JurisdictionTax Years Subject to Examination
Argentina2015-2021
Brazil2016-2021
Chile2018-2021
Colombia2016-2021
Dominican Republic2019-2021
El Salvador2018-2021
Netherlands2015-2021
Panama2018-2021
United Kingdom2018-2021
United States (Federal)2017-2021
Unrecognized Tax Benefits
The following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated (in millions):
202120202019
Balance at January 1$458 $465 $463 
Additions for current year tax positions28 — 
Additions for tax positions of prior years14 
Reductions for tax positions of prior years— (6)(5)
Settlements(377)— — 
Lapse of statute of limitations(1)(4)(3)
Balance at December 31$122 $458 $465