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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Expense On Continuing Operations

	December 31,
	2012		2011		2010

	(in millions)
Federal:
Current	$	-	$	-	$	(8)
Deferred		24		(150)		(125)
State:
Current		(2)		1		1
Deferred		(11)		1		(19)
Foreign:
Current		562		852		678
Deferred		135		(70)		66
Total	$	708	$	634	$	593

Reconciliation Of US Federal Income Tax Rates And AES Effective Tax Rate For The Current And Two Prior Years

	December 31,
	2012	2011	2010
Statutory Federal tax rate	35%	35%	35%
State taxes, net of Federal tax benefit	-15%	0%	-3%
Taxes on foreign earnings	-21%	-3%	-2%
Valuation allowance	13%	-3%	0%
Gain (loss) on sale of businesses	0%	0%	4%
Chilean withholding tax reversals	0%	0%	-3%
Change in tax law	13%	0%	0%
DPL goodwill impairment	203%	0%	0%
Other - net	-3%	0%	0%
Effective tax rate	225%	29%	31%

Schedule Of Income Tax Payable And Receivable

	December 31,
	2012		2011

	(in millions)
Income taxes receivable - current	$	296	$	563
Income taxes receivable - noncurrent		15		21
Total income taxes receivable	$	311	$	584

Income taxes payable - current	$	405	$	759
Income taxes payable - noncurrent		2		3
Total income taxes payable	$	407	$	762

Summary Of Deferred Tax Assets And Liabilities

	December 31,
	2012		2011

	(in millions)
Differences between book and tax basis of property	$	(2,067)	$	(1,909)
Cumulative translation adjustment		(43)		(39)
Other taxable temporary differences		(419)		(321)
Total deferred tax liability		(2,529)		(2,269)

Operating loss carryforwards		1,604		1,481
Capital loss carryforwards		108		112
Bad debt and other book provisions		358		463
Retirement costs		619		360
Tax credit carryforwards		46		46
Other deductible temporary differences		555		516
Total gross deferred tax asset		3,290		2,978
Less: valuation allowance		(906)		(901)
Total net deferred tax asset		2,384		2,077
Net deferred tax asset/(liability)	$	(145)	$	(192)

Income Before Income Taxes, Foreign And Domestic

	December 31,
	2012		2011		2010

	(in millions)
U.S.	$	(1,915)	$	(526)	$	(539)
Non-U.S.		2,229		2,737		2,429
Total	$	314	$	2,211	$	1,890

Tax Years Potentially Subject To Examination And Jurisdictions

	Jurisdiction		Tax Years Subject to Examination

	Argentina		2006-2012
	Brazil		2007-2012
	Cameroon		2008-2012
	Chile		2009-2012
	Colombia		2010-2012
	El Salvador		2009-2012
	United Kingdom		2009-2012
	United States (Federal)		1994-2012

Unrecognized Tax Benefits

	2012		2011		2010

	(in millions)
Balance at January 1	$	471	$	437	$	510
Additions for current year tax positions		12		7		14
Additions for tax positions of prior years		34		49		51
Reductions for tax positions of prior years		(29)		(18)		(46)
Effects of foreign currency translation		-		(1)		(2)
Settlements		(6)		-		(67)
Lapse of statute of limitations		(1)		(3)		(23)
Balance at December 31	$	481	$	471	$	437

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

- Definition

Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

+ References+ Details