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Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment [Table Text Block] 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. In our 2022 Form 10-K, the management reporting structure and the Company’s reportable segments were mainly organized by geographic regions. In March 2023, we announced internal management changes as a part of our ongoing strategy to align our business to meet our customers’ needs and deliver on our major strategic objectives. The management reporting structure is now composed of four SBUs, mainly organized by technology, led by our President and Chief Executive Officer. 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. All prior period results have been retrospectively revised to reflect the new segment reporting structure.
•Renewables — Solar, wind, energy storage, hydro, biomass and landfill gas generation facilities;
•Utilities — AES Indiana, AES Ohio and AES El Salvador regulated utilities and their generation facilities;
•Energy Infrastructure — Natural gas, LNG, coal, pet-coke, diesel and oil generation facilities, and our businesses in Chile, which have a mix of generation sources, including renewables, that are pooled to service our existing PPAs; and
•New Energy Technologies — Green hydrogen initiatives and investments in Fluence, Uplight, 5B, and other new and innovative energy technology businesses.
Our Renewables, Utilities and Energy Infrastructure SBUs participate in our generation business line, in which we own and/or operate power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. Our Utilities SBU participates in our utilities business line, in which we own and/or operate utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors within a defined service area. In certain circumstances, our utilities also generate and sell electricity on the wholesale market. Our New Energy Technologies SBU includes investments in new and innovative technologies to support leading-edge greener energy solutions.
Included in "Corporate and Other" are the results of the AES self-insurance company, 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.
During the first quarter of 2023, management began assessing operational performance and making resource allocation decisions using Adjusted EBITDA. Therefore, the Company uses Adjusted EBITDA as its primary segment performance measure. Adjusted EBITDA, a non-GAAP measure, is defined by the Company as earnings before interest income and expense, taxes, depreciation and amortization, adjusted for the impact of NCI and interest, taxes, depreciation and amortization of our equity affiliates, and adding back interest income recognized under service concession arrangements; excluding gains or losses of both consolidated entities and entities accounted for under the equity method 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 Energy Infrastructure SBU, associated with the early contract terminations with Minera Escondida and Minera Spence.
The Company has concluded Adjusted EBITDA 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 overall complexity, the Company concluded that Adjusted EBITDA 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 EBITDA are presented before inter-segment eliminations, which includes the effect of intercompany transactions with other segments except for 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
Renewables SBU$1,893 $1,562 $1,295 
Utilities SBU3,617 2,944 2,750 
Energy Infrastructure SBU7,204 6,702 5,679 
New Energy Technologies SBU3 7 143 
Corporate and Other116 108 88 
Eliminations(216)(182)(295)
Total Revenue$12,617 $11,141 $9,660 
Reconciliation from Net Income (Loss):Adjusted EBITDA
Year Ended December 31,
202220212020
Net income (loss)$(505)$(951)$152 
Income tax expense (benefit)265 (133)216 
Interest expense1,117 911 1,038 
Interest income(389)(298)(268)
Depreciation and amortization1,053 1,056 1,068 
EBITDA$1,541 $585 $2,206 
Less: Income from discontinued operations— (4)(3)
Less: Adjustment for noncontrolling interests and redeemable stock of subsidiaries (1)
(704)(47)(798)
Less: Income tax expense (benefit), interest expense (income) and depreciation and amortization from equity affiliates126 123 153 
Interest income recognized under service concession arrangements77 82 87 
Unrealized derivative and equity securities losses (gains)131 (4)12 
Unrealized foreign currency losses (gains)42 14 (9)
Disposition/acquisition losses40 863 112 
Impairment losses1,658 1,153 928 
Loss on extinguishment of debt20 71 184 
Net gains from early contract terminations at Angamos— (256)(182)
Adjusted EBITDA$2,931 $2,580 $2,690 
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(1)The allocation of earnings to tax equity investors from both consolidated entities and equity affiliates is removed from Adjusted EBITDA.
Adjusted EBITDA
Year Ended December 31,202220212020
Renewables SBU$605 $545 $528 
Utilities SBU612 633 618 
Energy Infrastructure SBU1,836 1,494 1,612 
New Energy Technologies SBU(116)(77)(18)
Corporate and Other(19)(20)(49)
Eliminations13 5 (1)
Adjusted EBITDA$2,931 $2,580 $2,690 
The Company uses long-lived assets as its measure of segment assets. Long-lived assets includes 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.
Long-Lived Assets
Year Ended December 31, 202220212020
Renewables SBU$9,533 $6,353 $5,057 
Utilities SBU6,311 6,027 6,019 
Energy Infrastructure SBU7,532 7,778 12,001 
New Energy Technologies SBU2 4 2 
Corporate and Other17 21 24 
Long-Lived Assets23,395 20,183 23,103 
Current assets7,643 5,356 5,414 
Investments in and advances to affiliates952 1,080 835 
Debt service reserves and other deposits177 237 441 
Goodwill362 1,177 1,061 
Other intangible assets1,841 1,450 827 
Deferred income taxes319 409 288 
Loan receivable1,051 — — 
Other noncurrent assets, excluding right-of-use assets for operating leases2,623 1,911 1,383 
Noncurrent held-for-sale assets— 1,160 1,251 
Total Assets$38,363 $32,963 $34,603 
Depreciation and AmortizationCapital Expenditures
Year Ended December 31, 202220212020202220212020
Renewables SBU$260 $222 $184 $2,972 $721 $787 
Utilities SBU376 361 348 859 544 430 
Energy Infrastructure SBU404 458 522 742 847 723 
New Energy Technologies SBU2 1 — — — 1 
Corporate and Other11 14 14 11 28 19 
Total$1,053 $1,056 $1,068 $4,584 $2,140 $1,960 
Interest IncomeInterest ExpenseNet Equity in Earnings (Losses) of Affiliates
Year Ended December 31, 202220212020202220212020202220212020
Renewables SBU$131 $55 $41 $236 $200 $203 $28 $63 $(18)
Utilities SBU8 5 4 234 218 230 6 3 1 
Energy Infrastructure SBU246 236 221 488 422 446 9 (4)(79)
New Energy Technologies SBU— — — — — — (114)(86)(27)
Corporate and Other4 2 2 159 71 159 — — — 
Total$389 $298 $268 $1,117 $911 $1,038 $(71)$(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 RevenueLong-Lived Assets
Year Ended December 31, 20222021202020222021
United States (1)
$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 (2)
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 
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(1)     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.
(2)     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.