Discontinued Operations and Held For Sale Businesses

3 Months Ended

Mar. 31, 2013

DISCONTINUED OPERATIONS AND HELD FOR SALE BUSINESSES

15. DISCONTINUED OPERATIONS AND HELD FOR SALE BUSINESSES

In addition to the businesses reported as discontinued operations in the 2012 Form 10-K, discontinued operations include the results of the following businesses classified as held for sale in March of 2013:

• Ukraine Utilities businesses

The following table summarizes the revenue, income from operations,income tax expense,impairmentand loss on disposalof all discontinued operationsfor thethree months ended March 31, 2013 and 2012:

		Three Months
		Ended March 31,
		2013		2012
		(in millions)
Revenue		$	147	$	191
Income from operations of discontinued businesses, before income tax		$	13	$	8
Income tax benefit (expense)			1		(2)
Income from operations of discontinued
	businesses, after income tax	$	14	$	6
Net loss from disposal and impairments of discontinued
	businesses, after income tax	$	(36)	$	(5)

Ukraine Utilities sale—On January 29, 2013, the Company agreed to sell its two power distribution businesses in Ukraine to VS Energy International. Under the agreement, the Company sold its 89.1% equity interest in AESKyivoblenergo, which serves 881,000 customers in the Kiev region, and its 84.6% percent equity interest in AES Rivneoblenergo, which serves 412,000 customers in the Rivne region. The Company recognized an asset impairment of $38 million upon fair value measurement during the three months ended March 31, 2013. The transaction closedon April 29, 2013 and net proceeds of $109 million were received. These businesses were previously reported in “Corporate and Other”.