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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES:    
Net income $ 278 $ 189
Adjustments to net income:    
Depreciation and amortization 312 273
Gain on disposal and sale of business interests (43) 0
Impairment expense 46 20
Deferred income tax expense (benefit) 222 (11)
Emissions Allowance Expense 47 89
Other 104 89
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (232) (62)
(Increase) decrease in inventory 72 191
(Increase) decrease in prepaid expenses and other current assets 39 64
(Increase) decrease in other assets (91) 50
Increase (decrease) in accounts payable and other current liabilities (85) (293)
Increase (decrease) in income tax payables, net and other tax payables (327) (7)
Increase (decrease) in deferred income 23 21
Increase (decrease) in other liabilities (5) 45
Net cash provided by operating activities 287 625
INVESTING ACTIVITIES:    
Capital expenditures (2,148) (1,551)
Payments to Acquire Businesses and Interest in Affiliates 57 0
Proceeds from Divestiture of Businesses and Interests in Affiliates 11 98
Sale of short-term investments 141 356
Purchase of short-term investments (144) (418)
Contributions and loans to equity affiliates (21) (20)
Payments to Acquire Intangible Assets (56) (78)
Other investing (112) (11)
Net cash used in investing activities (2,386) (1,624)
FINANCING ACTIVITIES:    
Borrowings under the revolving credit facilities 1,741 1,415
Repayments under the revolving credit facilities (1,037) (1,055)
Proceeds from (Repayments of) Commercial Paper 719 350
Issuance of recourse debt 0 500
Issuance of non-recourse debt 2,131 690
Repayments of non-recourse debt (915) (660)
Payments for financing fees (31) (18)
Purchases under supplier financing arrangements (486) (529)
Repayments of obligations under supplier financing arrangements 516 587
Distributions to noncontrolling interests (23) (47)
Contributions from noncontrolling interests 26 18
Sales to Noncontrolling Interests 125 0
Dividends paid on AES common stock (116) (111)
Payments for financed capital expenditures (7) (4)
Other financing 23 (4)
Net cash provided by financing activities 2,606 1,016
Effect of exchange rate changes on cash, cash equivalents and restricted cash (15) (18)
Net Cash Change Of Discontinued And Held For Sale Businesses 73 (9)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 565 (10)
Cash, cash equivalents and restricted cash, beginning 1,990 2,087
Cash, cash equivalents and restricted cash, ending 2,555 2,077
SUPPLEMENTAL DISCLOSURES:    
Cash payments for interest, net of amounts capitalized 354 252
Cash payments for income taxes, net of refunds 68 53
SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Noncash or Part Noncash Divestiture, Amount of Consideration Received 9 0
Lease Obligation Incurred 124 19
Conversion of Stock, Amount Converted 838 0
Dividends declared but not yet paid 116 111
Other current assets, net of allowance of $15 and $14, respectively 1,404  
Loss (gain) on realized/unrealized derivatives $ (73) $ (33)