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Impairments | 3 Months Ended
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Jun. 30, 2012
IMPAIRMENTS | 14. ASSET IMPAIRMENT EXPENSE Asset impairment expense was $18 million and $29 million for the three and six months ended June 30, 2012, respectively. Kelanitissa—We continue to evaluate the recoverability of our l ong-lived assets at Kelanitissa, our diesel-fired generation plant in Sri Lanka, as a result of both the requirement to transfer the plant to the government at the end of our PPA and the current expectation of lower future operating cash flows. During the first half of 2012, the Company recognized asset impairment expense of $12 million for the long-lived assets of Kelanitissa. Our evaluation s during this period indicated that the long-lived assets were no longer recoverable and accordingly were written down to their estimated fair value of $10 million based on a discounted cash flow analysis. The long-lived assets had a carrying amount of $22 million prior to the recognition of asset im pairment expense. Kelanitissa is reported in the Asia Generation reportable segment. St. Patrick—During the current quarter, the Company received approval from its Board of Directors for the sale of its wholly-owned subsidiary Ferme Eolienne Saint Patrick SAS (“St. Patrick”). Upon meeting the held for sale criteria including the Board's appr oval, long-lived assets with a carrying amount of $33 million were written down to their fair value of $22 million (i.e., the sale price attributed to St. Patrick) and an impairment expense of $11 million was recorded. The sale transaction subsequ ently closed on June 28, 2012. St. Patrick is reported in “Corporate and Other”. The remaining asset impairment expense consists of write-offs related to smaller projects. Asset impairment expense was $33 million for the three and six months ended June 30, 2011.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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