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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENTS AND GEOGRAPHIC INFORMATION
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 mainly organized by geographic regions which provides a socio-political-economic understanding of our business. 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.
Corporate and Other — Included in "Corporate and Other" are the results of the AES self-insurance company and certain equity affiliates, 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, benefits and costs associated with dispositions and acquisitions of business interests, including early plant closures, and gains and losses recognized at commencement of sales-type leases; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; and (f) net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence. 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 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):
Total Revenue
Year Ended December 31,202220212020
US and Utilities SBU$5,013 $4,335 $3,918 
South America SBU3,539 3,541 3,159 
MCAC SBU2,868 2,157 1,766 
Eurasia SBU1,217 1,123 828 
Corporate and Other119 116 231 
Eliminations(139)(131)(242)
Total Revenue$12,617 $11,141 $9,660 
Reconciliation from Income (Loss) from Continuing Operations before Taxes and Equity in Earnings of Affiliates:Total Adjusted PTC
Year Ended December 31,
202220212020
Loss from continuing operations before taxes and equity in earnings of affiliates$(169)$(1,064)$488 
Add: Net equity in losses of affiliates(71)(24)(123)
Less: Income from continuing operations before taxes, attributable to noncontrolling interests and redeemable stock of subsidiaries(96)644 (192)
Pre-tax contribution(336)(444)173 
Unrealized derivative and equity securities losses (gains)128 (1)3 
Unrealized foreign currency losses (gains)42 14 (10)
Disposition/acquisition losses40 861 112 
Impairment losses1,658 1,153 928 
Loss on extinguishment of debt35 91 223 
Net gains from early contract terminations at Angamos— (256)(182)
Total Adjusted PTC$1,567 $1,418 $1,247 
Total Adjusted PTC
Year Ended December 31,202220212020
US and Utilities SBU$570 $660 $505 
South America SBU573 423 534 
MCAC SBU559 314 287 
Eurasia SBU192 196 177 
Corporate and Other(326)(182)(256)
Eliminations(1)7 — 
Total Adjusted PTC$1,567 $1,418 $1,247 
Total AssetsDepreciation and AmortizationCapital Expenditures
Year Ended December 31, 202220212020202220212020202220212020
US and Utilities SBU$20,531 $16,512 $14,464 $574 $549 $534 $3,352 $1,115 $1,099 
South America SBU9,423 7,728 11,329 267 273 294 1,071 833 650 
MCAC SBU4,760 4,545 4,847 155 155 164 127 143 183 
Eurasia SBU2,870 3,466 3,621 44 66 63 23 20 9 
Corporate and Other779 712 342 13 13 13 11 29 19 
Total$38,363 $32,963 $34,603 $1,053 $1,056 $1,068 $4,584 $2,140 $1,960 
Interest IncomeInterest Expense
Year Ended December 31, 202220212020202220212020
US and Utilities SBU$50 $28 $17 $359 $362 $371 
South America SBU177 100 64 342 239 237 
MCAC SBU8 7 14 150 139 157 
Eurasia SBU151 161 171 107 98 113 
Corporate and Other3 2 2 159 73 160 
Total$389 $298 $268 $1,117 $911 $1,038 
Investments in and Advances to AffiliatesNet Equity in Earnings (Losses) of Affiliates
Year Ended December 31, 202220212020202220212020
US and Utilities SBU$453 $510 $568 $54 $83 $(8)
South America SBU22 19 13 2 — (80)
MCAC SBU180 144 168 (14)(23)(11)
Eurasia SBU11 — 1 — 2 4 
Corporate and Other286 407 85 (113)(86)(28)
Total$952 $1,080 $835 $(71)$(24)$(123)
The following table presents information, by country, about the Company's consolidated operations for each of the three years ended December 31, 2022, 2021, and 2020, and as of December 31, 2022 and 2021 (in millions). Revenue is recorded in the country in which it is earned and assets are recorded in the country in which they are located.
Total Revenue
Long-Lived Assets (1)
Year Ended December 31, 20222021202020222021
United States (2)
$4,093 $3,531 $3,243 $13,833 $11,034 
Non-U.S.:
Chile2,064 2,297 2,092 2,730 2,241 
Dominican Republic1,591 1,087 896 1,013 892 
El Salvador902 792 666 395 371 
Bulgaria790 700 444 487 1,020 
Panama678 595 519 1,880 1,907 
Mexico595 471 349 409 614 
Brazil560 471 401 1,811 1,215 
Argentina501 390 308 461 470 
Colombia417 383 358 308 349 
Vietnam (3)
323 320 285 1 — 
Jordan102 98 96 41 42 
Other Non-U.S.1 6 3 26 28 
Total Non-U.S.8,524 7,610 6,417 9,562 9,149 
Total$12,617 $11,141 $9,660 $23,395 $20,183 
_____________________________
(1)     For purposes of this disclosure, long-lived assets implies hard assets that cannot be readily removed, and thus excludes intangibles. Long-lived assets disclosed above include amounts recorded in Property, plant and equipment, net and right-of-use assets for operating leases recorded in Other noncurrent assets on the Consolidated Balance Sheets.
(2)     Includes Puerto Rico revenues of $293 million, $311 million, and $298 million for the years ended December 31, 2022, 2021, and 2020, respectively, and long-lived assets of $96 million and $79 million as of December 31, 2022 and 2021, respectively.
(3)     The Mong Duong II power project is operated under a BOT contract. Future expected payments for the construction performance obligation are recognized in Loan receivable on the Consolidated Balance Sheets. See Note 20—Revenue for further information.