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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2011
SEGMENT AND GEOGRAPHIC INFORMATION | 16. SEGMENT AND GEOGRAPHIC INFORMATION During the first quarter of 2012, the Company completed the restructuring of its operational management and reporting process. The management reporting structure is organized along two lines of business – Generation and Utilities, each led by a Chief Operating Officer. The segment reporting structure primarily uses the Company's management reporting structure as its foundation to reflect how the Company manages the business internally with further aggregation by geographic regions to provide better socio-political-economic understanding of our business. Upon the application of the accounting guidance for segment reporting, the Company concluded that Tietê, our 2,663 MW hydro generation business in Brazil, met the quantitative thresholds to require separate presentation. As such, an additional reportable segment which consists solely of the results of Tietê is now reported as Generation – Tietê. Tietê was formerly reported within the Latin America –Generation segment. The previously disclosed Latin America – Generation segment is now reported as Generation – Latin America – Other and, with the exception of Tietê, includes the results of all remaining businesses as previously reported. All prior period results have been retrospectively revised to reflect the new segment reporting structure. The Company has increased from six to the following seven reportable segments: • Generation – Latin America – Other; • Generation – Tietê; • Generation – North America; • Generation – Europe; • Generation – Asia; • Utilities – Latin America; • Utilities – North America. Corporate and Other—The Company's Europe Utilities, Africa Utilities, Africa Generation, Wind Generation operating segments and other climate solutions and renewables projects are reported within “Corporate and Other” because they do not meet the criteria to allow for aggregation with another operating segment or the quantitative thresholds that would require separate disclosure under segment reporting accounting guidance. None of these operating segments are currently material to our presentation of reportable segments, individually or in the aggregate. AES Solar and certain other unconsolidated businesses are accounted for using the equity method of accounting; therefore, their operating results are included in “Net Equity in Earnings of Affiliates” on the face of the Consolidated Statements of Operations, not in revenue or gross margin. “Corporate and Other” also includes corporate overhead costs which are not directly associated with the operations of our seven reportable segments and other intercompany charges such as self-insurance premiums which are fully eliminated in consolidation. The Company uses adjusted gross margin, a non-GAAP measure, to evaluate the performance of its segments. Adjusted gross margin is defined by the Company as gross margin plus depreciation and amortization less general and administrative expenses. Total revenue includes inter-segment sales related to the transfer of electricity from generation plants to utilities within Latin America. No material inter-segment revenue relationships exist between other segments. Corporate allocations include certain self-insurance activities which are reflected within segment adjusted gross margin. All intra-segment activity has been eliminated with respect to revenue and adjusted gross margin within the segment. Inter-segment activity has been eliminated within the total consolidated results. Asset information for businesses that were discontinued or classified as held for sale as of December 31, 2011 is segregated and is shown in the line “Discontinued Businesses” in the accompanying segment tables. The tables below present the breakdown of business segment balance sheet and income statement data as of and for the years ended December 31, 2011 through 2009:
|  | Total Revenue |  | Intersegment |  | External Revenue
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009
|  | (in millions)
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Generation - Latin America - Other |  | $ | 3,854 |  | $ | 3,282 |  | $ | 2,806 |  | $ | (39) |  | $ | (34) |  | $ | (16) |  | $ | 3,815 |  | $ | 3,248 |  | $ | 2,790
Generation - Tiete |  |  | 1,128 |  |  | 999 |  |  | 845 |  |  | (1,109) |  |  | (983) |  |  | (848) |  |  | 19 |  |  | 16 |  |  | (3)
Generation - North America |  |  | 1,325 |  |  | 1,315 |  |  | 1,249 |  |  | (4) |  |  | - |  |  | - |  |  | 1,321 |  |  | 1,315 |  |  | 1,249
Generation - Europe |  |  | 1,550 |  |  | 1,318 |  |  | 762 |  |  | (2) |  |  | (2) |  |  | 2 |  |  | 1,548 |  |  | 1,316 |  |  | 764
Generation - Asia |  |  | 625 |  |  | 618 |  |  | 375 |  |  | - |  |  | - |  |  | - |  |  | 625 |  |  | 618 |  |  | 375
Utilities - Latin America |  |  | 7,374 |  |  | 6,987 |  |  | 5,877 |  |  | - |  |  | - |  |  | - |  |  | 7,374 |  |  | 6,987 |  |  | 5,877
Utilities - North America |  |  | 1,326 |  |  | 1,145 |  |  | 1,068 |  |  | - |  |  | - |  |  | - |  |  | 1,326 |  |  | 1,145 |  |  | 1,068
Corporate and Other |  |  | 1,109 |  |  | 1,053 |  |  | 868 |  |  | (9) |  |  | (13) |  |  | (14) |  |  | 1,100 |  |  | 1,040 |  |  | 854
Total Revenue |  | $ | 18,291 |  | $ | 16,717 |  | $ | 13,850 |  | $ | (1,163) |  | $ | (1,032) |  | $ | (876) |  | $ | 17,128 |  | $ | 15,685 |  | $ | 12,974
|  |  | Total Adjusted Gross Margin |  | Intersegment |  | External Adjusted Gross Margin
|  |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009
|  |  | (in millions)
Adjusted Gross Margin |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Generation - Latin America - Other |  | $ | 1,209 |  | $ | 945 |  | $ | 891 |  | $ | 20 |  | $ | (27) |  | $ | (4) |  | $ | 1,229 |  | $ | 918 |  | $ | 887
Generation - Tiete |  |  | 876 |  |  | 754 |  |  | 637 |  |  | (1,109) |  |  | (983) |  |  | (848) |  |  | (233) |  |  | (229) |  |  | (211)
Generation - North America |  |  | 439 |  |  | 448 |  |  | 453 |  |  | 9 |  |  | 2 |  |  | (3) |  |  | 448 |  |  | 450 |  |  | 450
Generation - Europe |  |  | 469 |  |  | 395 |  |  | 273 |  |  | 8 |  |  | 3 |  |  | 4 |  |  | 477 |  |  | 398 |  |  | 277
Generation - Asia |  |  | 176 |  |  | 255 |  |  | 111 |  |  | 2 |  |  | 2 |  |  | 4 |  |  | 178 |  |  | 257 |  |  | 115
Utilities - Latin America |  |  | 1,321 |  |  | 1,248 |  |  | 1,060 |  |  | 1,118 |  |  | 1,018 |  |  | 865 |  |  | 2,439 |  |  | 2,266 |  |  | 1,925
Utilities - North America |  |  | 394 |  |  | 407 |  |  | 401 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | 395 |  |  | 409 |  |  | 403
Corporate and Other |  |  | (33) |  |  | 62 |  |  | 3 |  |  | (45) |  |  | (17) |  |  | (10) |  |  | (78) |  |  | 45 |  |  | (7)
Reconciliation to Income from Continuing Operations before Taxes |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (1,176) |  |  | (1,034) |  |  | (884)
Interest expense |  |  | (1,553) |  |  | (1,451) |  |  | (1,406)
Interest income |  |  | 400 |  |  | 408 |  |  | 344
Other expense |  |  | (154) |  |  | (234) |  |  | (104)
Other income |  |  | 149 |  |  | 100 |  |  | 458
Gain on sale of investments |  |  | 8 |  |  | - |  |  | 132
Goodwill impairment |  |  | (17) |  |  | (21) |  |  | (122)
Asset impairment expense |  |  | (225) |  |  | (389) |  |  | (20)
Foreign currency transaction gains (losses) |  |  | (38) |  |  | (33) |  |  | 35
Other non-operating expense |  |  | (82) |  |  | (7) |  |  | (12)
Income from continuing operations before taxes and equity in earnings of affiliates |  | $ | 2,167 |  | $ | 1,853 |  | $ | 2,260
|  | Total Assets |  | Depreciation and Amortization |  | Capital Expenditures
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009
|  | (in millions)
Generation - Latin America - Other |  | $ | 9,067 |  | $ | 8,487 |  | $ | 8,010 |  | $ | 202 |  | $ | 175 |  | $ | 146 |  | $ | 553 |  | $ | 584 |  | $ | 921
Generation - Tiete |  |  | 1,645 |  |  | 1,886 |  |  | 1,792 |  |  | 59 |  |  | 40 |  |  | 37 |  |  | 105 |  |  | 57 |  |  | 30
Generation - North America |  |  | 3,625 |  |  | 3,801 |  |  | 4,199 |  |  | 118 |  |  | 131 |  |  | 135 |  |  | 39 |  |  | 54 |  |  | 45
Generation - Europe |  |  | 3,276 |  |  | 3,317 |  |  | 3,147 |  |  | 136 |  |  | 114 |  |  | 53 |  |  | 140 |  |  | 233 |  |  | 212
Generation - Asia |  |  | 1,717 |  |  | 1,762 |  |  | 1,594 |  |  | 33 |  |  | 33 |  |  | 32 |  |  | 129 |  |  | 10 |  |  | 22
Utilities - Latin America |  |  | 9,468 |  |  | 9,609 |  |  | 8,810 |  |  | 293 |  |  | 231 |  |  | 201 |  |  | 666 |  |  | 584 |  |  | 356
Utilities - North America |  |  | 9,384 |  |  | 3,139 |  |  | 3,035 |  |  | 178 |  |  | 161 |  |  | 157 |  |  | 232 |  |  | 177 |  |  | 116
Discontinued businesses |  |  | 1,531 |  |  | 2,587 |  |  | 3,756 |  |  | 59 |  |  | 110 |  |  | 140 |  |  | 91 |  |  | 105 |  |  | 119
Corp/Other and eliminations |  |  | 5,620 |  |  | 5,923 |  |  | 5,192 |  |  | 184 |  |  | 183 |  |  | 148 |  |  | 506 |  |  | 529 |  |  | 717
Total |  | $ | 45,333 |  | $ | 40,511 |  | $ | 39,535 |  | $ | 1,262 |  | $ | 1,178 |  | $ | 1,049 |  | $ | 2,461 |  | $ | 2,333 |  | $ | 2,538
|  | Investment in and |  |  |  |  |  |  |  |  |  |
|  | Advances to Affiliates |  | Equity in Earnings (Loss) |
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
|  | (in millions) |
Generation - Latin America - Other |  | $ | 188 |  | $ | 150 |  | $ | 129 |  | $ | 35 |  | $ | 48 |  | $ | 30 |
Generation - Tiete |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Generation - North America |  |  | 18 |  |  | - |  |  | 3 |  |  | (2) |  |  | (2) |  |  | (2) |
Generation - Europe |  |  | 479 |  |  | 353 |  |  | 308 |  |  | 8 |  |  | 19 |  |  | 50 |
Generation - Asia |  |  | 291 |  |  | 409 |  |  | 390 |  |  | (1) |  |  | 3 |  |  | 28 |
Utilities - Latin America |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Utilities - North America |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Discontinued businesses |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Corp/Other and eliminations |  |  | 446 |  |  | 408 |  |  | 327 |  |  | (42) |  |  | 115 |  |  | (15) |
Total |  | $ | 1,422 |  | $ | 1,320 |  | $ | 1,157 |  | $ | (2) |  | $ | 183 |  | $ | 91 |
The table below presents information, by country, about the Company's consolidated operations for each of the years ended December 31, 2011 through 2009 and as of December 31, 2011 and 2010, respectively. Revenue is recorded in the country in which it is earned and assets are recorded in the country in which they are located.
|  | Revenue |  | Property, Plant & Equipment, net
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010
|  | (in millions)
United States(1) |  | $ | 2,110 |  | $ | 1,952 |  | $ | 1,851 |  | $ | 7,829 |  | $ | 5,379
Non-U.S.: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brazil(2) |  |  | 6,640 |  |  | 6,355 |  |  | 5,292 |  |  | 5,896 |  |  | 6,263
Chile |  |  | 1,608 |  |  | 1,355 |  |  | 1,239 |  |  | 2,781 |  |  | 2,560
Argentina(3) |  |  | 979 |  |  | 771 |  |  | 571 |  |  | 279 |  |  | 270
El Salvador |  |  | 752 |  |  | 648 |  |  | 619 |  |  | 268 |  |  | 261
Dominican Republic |  |  | 674 |  |  | 535 |  |  | 429 |  |  | 662 |  |  | 625
United Kingdom(4) |  |  | 587 |  |  | 364 |  |  | 228 |  |  | 523 |  |  | 507
Philippines |  |  | 480 |  |  | 501 |  |  | 250 |  |  | 766 |  |  | 784
Ukraine |  |  | 418 |  |  | 356 |  |  | 286 |  |  | 94 |  |  | 86
Mexico |  |  | 404 |  |  | 409 |  |  | 329 |  |  | 774 |  |  | 786
Cameroon |  |  | 386 |  |  | 422 |  |  | 370 |  |  | 901 |  |  | 823
Colombia |  |  | 365 |  |  | 393 |  |  | 347 |  |  | 384 |  |  | 387
Puerto Rico |  |  | 298 |  |  | 253 |  |  | 267 |  |  | 581 |  |  | 596
Spain(5) |  |  | 258 |  |  | 411 |  |  | - |  |  | - |  |  | -
Bulgaria(6) |  |  | 251 |  |  | 44 |  |  | - |  |  | 1,619 |  |  | 1,825
Hungary(7) |  |  | 204 |  |  | 252 |  |  | 259 |  |  | 6 |  |  | 73
Panama |  |  | 189 |  |  | 194 |  |  | 168 |  |  | 1,040 |  |  | 921
Kazakhstan |  |  | 145 |  |  | 138 |  |  | 123 |  |  | 86 |  |  | 63
Sri Lanka |  |  | 140 |  |  | 100 |  |  | 109 |  |  | 22 |  |  | 69
Jordan |  |  | 124 |  |  | 120 |  |  | 104 |  |  | 216 |  |  | 224
Qatar(8) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Pakistan(9) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Oman(10) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other Non-U.S. (11) |  |  | 116 |  |  | 112 |  |  | 133 |  |  | 395 |  |  | 291
Total Non-U.S. |  |  | 15,018 |  |  | 13,733 |  |  | 11,123 |  |  | 17,293 |  |  | 17,414
Total |  | $ | 17,128 |  | $ | 15,685 |  | $ | 12,974 |  | $ | 25,122 |  | $ | 22,793
(1) Excludes revenue of $374 million, $662 million and $695 million for the years ended December 31, 2011, 2010 and 2009, respectively, and property, plant and equipment of $619 million and $788 million as of December 31, 2011 and 2010, respectively, related to Eastern Energy, Thames, Ironwood and Red Oak which were reflected as discontinued operations and businesses held for sale in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets. (2) Excludes revenue of $124 million, $118 million and $102 million for the years ended December 31, 2011, 2010 and 2009, respectively, and property, plant and equipment of $151 million as of December 31, 2010, related to Brazil Telecom, which was reflected as discontinued operations and businesses held for sale in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets. (3) Excludes revenue of $102 million, $116 million and $113 million for the years ended December 31, 2011, 2010 and 2009, respectively, and property, plant and equipment of $189 million as of December 31, 2010, related to our Argentina distribution businesses, whic h were reflected as discontinued operations and businesses held for sale in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets. (4) Excludes revenue of $17 million, $21 million and $11 million for the years ended December 31, 2011, 2010 and 2009, respectively, and property, plant and equipment of $20 million as of December 31, 2010, related to carbon reduction projects, which were reflected as discontinued operations and businesses held for sal e in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets. (5) Excludes property, plant and equipment of $620 million and $667 million as of December 31, 2011 and 2010, respectively, related to Cartagena, which was reflected as businesses held for sal e in the accompanying Consolidated Balance Sheets. (6) Maritza and our wind project in Bulgaria were under development and therefore not operational as of December 31, 2009. Our wind project in Bulgaria started oper ations in 2010 and Maritza sta r ted operations in June 2011. (7) Excludes revenue of $14 million, $44 million and $58 million for the years ended December 31, 2011, 2010 and 2009, respectively, and property, plant and equipment of $7 million as of December 31, 2010, related to Borsod and Tiszapalkonya, which were reflected as discontinued operations and businesses held for sale in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets. (8) Excludes revenue of $129 million and $163 million for the years en ded December 31, 2010 and 2009, respectively, related to Ras Laffan, which was reflected as discontinued operations and businesses held for sale in the accompanying Consol i dated Statement s of Operations. (9) Excludes revenue of $299 million and $470 million for the years en ded December 31, 2010 and 2009, respectively, related to Lal Pir and Pak Gen, which were reflected as discontinued operations and businesses held for sale in the acco mpanying Consolidated Statement s of Operations. (10) Excludes revenue of $62 million and $101 million for the years en ded December 31, 2010 and 2009, respectively, related to Barka, which was reflected as discontinued operations and businesses held for sale in the acco mpanying Consolidated Statement s of Operations. (11) Excludes revenue of $1 million for the year ended December 31, 2011, and property, plant and equipment of $2 million and $18 million as of December 31, 2011, and 2010, re spectively, related to alternative e nergy and carbon reduction projects, which were reflected as discontinued operations and businesses held for sale in the accompanying Consolidated Statements of Operations and Consolidated Balance Sheets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -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 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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