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Other Income and Expense
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
OTHER INCOME AND EXPENSE OTHER INCOME AND EXPENSE
Other income generally includes gains on insurance recoveries in excess of property damage, gains on asset sales and liability extinguishments, favorable judgments on contingencies, allowance for funds used during
construction, and other income from miscellaneous transactions. Other expense generally includes losses on asset sales and dispositions, losses on legal contingencies, and losses from other miscellaneous transactions. The components are summarized as follows (in millions):
Year Ended December 31,202320222021
Other Income
Gain on sale and disposal of assets
$19 $— $24 
Gain on remeasurement of contingent consideration (1)
16 3 28 
AFUDC (US Utilities)14 10 8 
Insurance proceeds (2)
6 12 — 
Dividend income on investments6 3 1 
Legal settlements (3)
4 6 53 
Gain on remeasurement of investment (4)
— 22 — 
Liquidated damages under a power sales agreement — 10 — 
Gain on remeasurement to acquisition-date fair value (5)
— 5 254 
Non-service pension income— 5 10 
Gain on acquired customer contracts— 5 — 
Gain on pension curtailment— — 11 
Other24 21 21 
Total other income$89 $102 $410 
Other Expense
Loss on sale and disposal of assets (6)
$49 $13 $14 
Loss on commencement of sales-type leases (7)
20 5 13 
Non-service pension and other postretirement costs12 — — 
Legal contingencies and settlements2 8 2 
Cost of disposition of business interests (8)
— 15 — 
Loss on sale of receivables (9)
— — 9 
Other16 27 22 
Total other expense$99 $68 $60 
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(1)Related to certain remeasurements of contingent consideration on projects acquired at AES Clean Energy. See Note 25—Acquisitions for further information.
(2)For the year ended December 31, 2022, primarily related to insurance recoveries associated with property damage at TermoAndes.
(3)For the year ended December 31, 2021, primarily related to settlement of legal arbitration at Alto Maipo.
(4)For the year ended December 31, 2022, related to the remeasurement of our existing investment in 5B, accounted for using the measurement alternative.
(5)For the year ended December 31, 2021, related to the remeasurement of our existing equity interest in sPower’s development platform as part of the step acquisition to form AES Clean Energy Development. See Note 25—Acquisitions for further information.
(6)For the year ended December 31, 2023, primarily related to impairments of inventory due to planned early plant closures at Ventanas 2, Norgener, and Warrior Run.
(7)Related to losses recognized at commencement of sales-type leases at AES Renewable Holdings. See Note 14—Leases for further information.
(8)Cost of disposition of a business interest at AES Gilbert due to a fire incident in April 2022, including the recognition of an allowance on the sales-type lease receivable.
(9)Associated with loss on sale of Stabilization Fund receivables at AES Andes. See Note 7—Financing Receivables for further information.