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Discontinued Operations and Held For Sale Businesses | 3 Months Ended
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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, impairment and gain on sale of all discontinued operations for the three and nine 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 th e Company's interest in Red Oak, for $143 million. T he Company recognize d a pretax gain of $65 million in the second quarter of 201 2. 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 inte rest in Ironwood for $84 million. T he Company recognized a pretax gain of $71 million in the second quarter of 2012. Ironwood wa s reported in the North America Generation segment.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 + Details
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