Discontinued Operations and Held For Sale Businesses

3 Months Ended

Sep. 30, 2012

DISCONTINUED OPERATIONS AND HELD FOR SALE BUSINESSES

17. DISCONTINUED OPERATIONS AND HELD FOR SALE BUSINESSES

The following table summarizes the revenue, income from operations,income tax expense,impairmentand gain on sale of all discontinued operationsfor the three andnine months ended September 30, 2012 and 2011:

		Three Months				Nine Months
		Ended September 30,				Ended September 30,
		2012		2011		2012		2011
		(in millions)
Revenue		$	1	$	181	$	48	$	546
Income (loss) from operations of discontinued businesses		$	1	$	(44)	0	3	$	(66)
Income tax (expense) benefit			2		16		(3)		22
Income (loss) from operations of discontinued
	businesses, net of tax	$	3	$	(28)	$	-	$	(44)
Net gain/(loss) on sale and impairments of discontinued
	operations, net of tax	$	(2)	$	-	$	68	$	-

During the nine months ended September 30, 2012, we completed the sale of the following discontinued operations:

Red Oak― On April 12, 2012, a subsidiary of the Company closed a sale transaction with a newly-formed portfolio company of Energy Capital Partners II, LP for the sale of 100% of its membership interest in AES Red Oak, LLC and AES Sayreville, two wholly-owned subsidiaries that hold the Company's interest in Red Oak, for $143 million.The Company recognizeda pretax gain of $65 million in the second quarter of 2012.Red Oak was reported in the North America Generation segment.

Ironwood ― On April 13, 2012, a subsidiary of the Company closed a sale transaction with an indirect wholly-owned subsidiary of PPL Corporation for the sale of 100% of its equity interest in AES Ironwood, Inc., a wholly-owned subsidiary, that holds the Company's interest in Ironwood for $84 million. The Company recognized a pretax gain of $71 million in the second quarter of 2012. Ironwood was reported in the North America Generation segment.