XML 59 R18.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Equity | 3 Months Ended
--- | ---
Mar. 31, 2013
EQUITY | 10. EQUITY Changes in Equity The following table provides a reconciliation of the beginnin g and ending equity attributable to stockholders of The AES Corporation, noncontrolling interests and total equity as of March 31, 2013 and 2012:
|  |  | Three Months Ended March 31, 2013 |  | Three Months Ended March 31, 2012
|  |  | The AES |  |  |  |  |  | The AES |  |  |  |
|  |  | Corporation |  |  |  |  |  | Corporation |  |  |  |
|  |  | Stockholders' |  | Noncontrolling |  | Total |  | Stockholders' |  | Noncontrolling |  | Total
|  |  | Equity |  | Interests |  | Equity |  | Equity |  | Interests |  | Equity
|  | (in millions) | (in millions)
Balance at January 1 |  | $ | 4,569 |  | $ | 2,945 |  | $ | 7,514 |  | $ | 5,946 |  | $ | 3,783 |  | $ | 9,729
Net income |  |  | 82 |  |  | 117 |  |  | 199 |  |  | 341 |  |  | 174 |  |  | 515
Total foreign currency translation adjustment, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| net of income tax |  |  | (42) |  |  | 7 |  |  | (35) |  |  | 92 |  |  | 49 |  |  | 141
Total change in derivative fair value, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| net of income tax |  |  | 7 |  |  | 1 |  |  | 8 |  |  | 90 |  |  | 17 |  |  | 107
Total pension adjustments, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| net of income tax |  |  | 3 |  |  | 11 |  |  | 14 |  |  | 1 |  |  | 5 |  |  | 6
Capital contributions from noncontrolling interests |  |  | - |  |  | 55 |  |  | 55 |  |  | - |  |  | 6 |  |  | 6
Distributions to noncontrolling interests |  |  | - |  |  | (27) |  |  | (27) |  |  | - |  |  | (14) |  |  | (14)
Disposition of businesses |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (37) |  |  | (37)
Issuance and exercise of stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| benefit plans, net of income tax |  |  | 14 |  |  | - |  |  | 14 |  |  | 19 |  |  | - |  |  | 19
Acquisition of subsidiary shares from |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| noncontrolling interests |  |  | - |  |  | (1) |  |  | (1) |  |  | - |  |  | (1) |  |  | (1)
Balance at March 31 |  | $ | 4,633 |  | $ | 3,108 |  | $ | 7,741 |  | $ | 6,489 |  | $ | 3,982 |  | $ | 10,471
Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss by component, net of tax and noncontrolling interest s for the three months ended March 31, 2013 were as follows:
|  |  | Unrealized derivative losses, net |  | Unfunded pension obligations, net |  | Foreign currency translation adjustment, net |  | Total
|  |  |  | (in millions)
Balance at January 1 |  | $ | (481) |  | $ | (382) |  | $ | (2,057) |  | $ | (2,920)
| Other comprehensive income before reclassifications |  |  | (15) |  |  | - |  |  | (39) |  |  | (54)
| Amounts reclassified from accumulated other |  |  |  |  |  |  |  |  |  |  |  |
| comprehensive loss |  |  | 22 |  |  | 3 |  |  | (3) |  |  | 22
| Net current-period other comprehensive income |  |  | 7 |  |  | 3 |  |  | (42) |  |  | (32)
Balance at March 31 |  | $ | (474) |  | $ | (379) |  | $ | (2,099) |  | $ | (2,952)
Details About Accumulated Other Comprehensive Loss Components | Affected Line Item in the Condensed Consolidated Statement of Operations |  | Three Months Ended March 31, 2013 (1)
|  |  | (in millions)
Unrealized derivative losses, net |  |
| Interest expense | $ | (35)
| Foreign currency transaction gains (losses) |  | 7
| Non-regulated cost of sales |  | (1)
| Income from continuing operations before |  |
| taxes and equity in earnings of affiliates |  | (29)
| Income tax expense |  | 7
| Net equity in earnings of affiliates |  | (2)
| Income from continuing operations |  | (24)
| Income from continuing operations attributable |  |
| to noncontrolling interests |  | 2
| Net income attributable to the AES Corporation | $ | (22)
Amortization of defined benefit pension actuarial loss, net |  |
| Non-regulated cost of sales | $ | (1)
| Regulated cost of sales |  | (20)
| Income from continuing operations before |  |
| taxes and equity in earnings of affiliates |  | (21)
| Income tax expense |  | 7
| Income from continuing operations |  | (14)
| Income from continuing operations attributable |  |
| to noncontrolling interests |  | 11
| Net income attributable to the AES Corporation | $ | (3)
Foreign currency translation adjustment, net |  |
| Gain on sale of investment | $ | 3
| Net income attributable to the AES Corporation | $ | 3
Total reclassifications for the period, net of income tax and noncontrolling interests | $ | (22)
_______________________ (1) Amounts in parenthese s indicate debits to the condensed consolidated statement of operations. Dividend The Company paid a dividend of $0.04 per outstanding share to its common stockholders on February 15, 2013. Stock Repurchase Program The Company's Board of Directors has approved a stock repurchase program (the “Program”). The Program does not have an expiration date and it can be modified or terminated by the Company's Board at any time. Under the P rogram, the Company may repurchase stock through a variety of methods, including open market repurchases and/or privately negotiated transactions. There can be no assurances as to the amount, timing or prices of repurchases, which may vary based on market conditions and other factors. As of March 31, 2013, $300 m illion was available under the P rogram. There were no commo n stock repurchases under the Program d uring the three months ended March 31, 2013. T he cumulative total purchases under the P rogram to ta led 58,715,189 shares at a total cost of $680 million, which includes a nominal amount of commissions (average of $11.58 per share including commissions). The common stock repurchased has been classified as treasury stock and accounted for using the cost method. A total of 65,546,914 and 66,415,984 shares were held as treasury stock at March 31, 2013 and December 31, 2012, respectively. R estricted stock units under the Company's employee benefit plans are issued from treasury stock. T he Company has not retired any common stock repurchased since it began the Program.

X
- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -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 13: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -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 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 20: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -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 21: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 -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 22: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 23: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration