XML 42 R30.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Fair Value (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2014
Fair Value Disclosures [Abstract] |
Fair value hierarchy for recurring measurements table | The following table sets forth, by level within the fair value hierarchy, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the periods indicated:
|  | March 31, 2014 |  | December 31, 2013
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AVAILABLE-FOR-SALE:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debentures |  | $ | — |  |  | $ | 427 |  |  | $ | — |  |  | $ | 427 |  |  | $ | — |  |  | $ | 435 |  |  | $ | — |  |  | $ | 435 |
Certificates of deposit |  | — |  |  | 109 |  |  | — |  |  | 109 |  |  | — |  |  | 151 |  |  | — |  |  | 151 |
Government debt securities |  | — |  |  | 26 |  |  | — |  |  | 26 |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Subtotal |  | — |  |  | 562 |  |  | — |  |  | 562 |  |  | — |  |  | 611 |  |  | — |  |  | 611 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  | — |  |  | 45 |  |  | — |  |  | 45 |  |  | — |  |  | 44 |  |  | — |  |  | 44 |
Subtotal |  | — |  |  | 45 |  |  | — |  |  | 45 |  |  | — |  |  | 44 |  |  | — |  |  | 44 |
Total available-for-sale |  | — |  |  | 607 |  |  | — |  |  | 607 |  |  | — |  |  | 655 |  |  | — |  |  | 655 |
TRADING: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  | 13 |  |  | — |  |  | — |  |  | 13 |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Total trading |  | 13 |  |  | — |  |  | — |  |  | 13 |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | — |  |  | 46 |  |  | — |  |  | 46 |  |  | — |  |  | 98 |  |  | — |  |  | 98 |
Cross currency derivatives |  | — |  |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Foreign currency derivatives |  | — |  |  | 18 |  |  | 105 |  |  | 123 |  |  | — |  |  | 15 |  |  | 98 |  |  | 113 |
Commodity derivatives |  | — |  |  | 46 |  |  | 3 |  |  | 49 |  |  | — |  |  | 18 |  |  | 6 |  |  | 24 |
Total derivatives |  | — |  |  | 114 |  |  | 108 |  |  | 222 |  |  | — |  |  | 136 |  |  | 104 |  |  | 240 |
TOTAL ASSETS |  | $ | 13 |  |  | $ | 721 |  |  | $ | 108 |  |  | $ | 842 |  |  | $ | 13 |  |  | $ | 791 |  |  | $ | 104 |  |  | $ | 908 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | — |  |  | $ | 289 |  |  | $ | 87 |  |  | $ | 376 |  |  | $ | — |  |  | $ | 221 |  |  | $ | 101 |  |  | $ | 322 |
Cross currency derivatives |  | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Foreign currency derivatives |  | — |  |  | 40 |  |  | 4 |  |  | 44 |  |  | — |  |  | 16 |  |  | 5 |  |  | 21 |
Commodity derivatives |  | — |  |  | 41 |  |  | 3 |  |  | 44 |  |  | — |  |  | 15 |  |  | 2 |  |  | 17 |
Total derivatives |  | — |  |  | 381 |  |  | 94 |  |  | 475 |  |  | — |  |  | 263 |  |  | 108 |  |  | 371 |
TOTAL LIABILITIES |  | $ | — |  |  | $ | 381 |  |  | $ | 94 |  |  | $ | 475 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 108 |  |  | $ | 371 |
_____________________________
(1) | Amortized cost approximated fair value at March 31, 2014 and December 31, 2013.
Derivatives Level 3 Rollforward Table | The following tables present a reconciliation of net derivative assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2014 and 2013 (presented net by type of derivative). Transfers between Level 3 and Level 2 are determined as of the end of the reporting period and principally result from changes in the significance of unobservable inputs used to calculate the credit valuation adjustment.
|  | Three Months Ended March 31, 2014
|  | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
|  | (in millions)
Balance at the beginning of the period |  | $ | (101 | ) |  | $ | 93 |  |  | $ | 4 |  |  | $ | (4 | )
Total gains (losses) (realized and unrealized): |  |  |  |  |  |  |  |
Included in earnings |  | — |  |  | 26 |  |  | (1 | ) |  | 25 |
Included in other comprehensive income - derivative activity |  | (64 | ) |  | (1 | ) |  | — |  |  | (65 | )
Included in other comprehensive income - foreign currency translation activity |  | — |  |  | (18 | ) |  | — |  |  | (18 | )
Included in regulatory (assets) liabilities |  | — |  |  | — |  |  | (3 | ) |  | (3 | )
Settlements |  | 8 |  |  | — |  |  | — |  |  | 8 |
Transfers of (assets) liabilities out of Level 3 |  | 70 |  |  | 1 |  |  | — |  |  | 71 |
Balance at the end of the period |  | $ | (87 | ) |  | $ | 101 |  |  | $ | — |  |  | $ | 14 |
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period |  | $ | — |  |  | $ | 26 |  |  | $ | (1 | ) |  | $ | 25 |
|  | Three Months Ended March 31, 2013
|  | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
|  | (in millions)
Balance at the beginning of the period |  | $ | (412 | ) |  | $ | 72 |  |  | $ | (1 | ) |  | $ | (341 | )
Total gains (losses) (realized and unrealized): |  |  |  |  |  |  |  |
Included in earnings |  | — |  |  | 3 |  |  | — |  |  | 3 |
Included in other comprehensive income - derivative activity |  | (21 | ) |  | — |  |  | — |  |  | (21 | )
Included in other comprehensive income - foreign currency translation activity |  | 4 |  |  | (3 | ) |  | — |  |  | 1 |
Included in regulatory (assets) liabilities |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Settlements |  | 23 |  |  | (1 | ) |  | — |  |  | 22 |
Transfers of (assets) liabilities out of Level 3 |  | 334 |  |  | — |  |  | — |  |  | 334 |
Balance at the end of the period |  | $ | (72 | ) |  | $ | 71 |  |  | $ | (3 | ) |  | $ | (4 | )
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Significant unobservable inputs, recurring | The following table summarizes the significant unobservable inputs used for the Level 3 derivative assets (liabilities) as of March 31, 2014:
Type of Derivative |  | Fair Value |  | Unobservable Input |  | Amount or Range (Weighted Average)
|  | (in millions) |  |  |  |
Interest rate |  | $ | (87 | ) |  | Subsidiaries’ credit spreads |  | 3.72% - 4.48% (3.9%) |
Foreign currency: |  |  |  |  |  |
Embedded derivative — Argentine Peso |  | 105 |  |  | Argentine Peso to U.S. Dollar currency exchange rate after 1 year |  | 8.13 - 30.46 (19.96) |
Embedded derivative — Euro |  | (4 | ) |  | Subsidiaries’ credit spreads |  | 3.72 | %
Total |  | $ | 14 |  |  |  |  |
Fair value hierarchy for nonrecurring measurements table | The following table summarizes major categories of assets and liabilities measured at fair value on a nonrecurring basis during the period and their level within the fair value hierarchy:
|  | Three Months Ended March 31, 2014
|  | Carrying Amount |  | Fair Value |  | Gross Loss
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in millions)
Assets |  |  |  |  |  |  |  |  |  |
Long-lived assets held and used:(1) |  |  |  |  |  |  |  |  |  |
DPL (East Bend) |  | $ | 14 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 12 |
Discontinued operations and held-for-sale businesses:(2) |  |  |  |  |  |  |  |  |  |
Cameroon |  | 372 |  |  | — |  |  | 340 |  |  | — |  |  | 38 |
Goodwill(3) |  |  |  |  |  |  |  |  |  |
DPLER |  | 136 |  |  | — |  |  | — |  |  | — |  |  | 136 |
Buffalo Gap |  | 28 |  |  | — |  |  | — |  |  | 10 |  |  | 18 |
|  | Three Months Ended March 31, 2013
|  | Carrying Amount |  | Fair Value |  | Gross Loss
|  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in millions)
Assets |  |  |  |  |  |  |  |  |  |
Long-lived assets held and used:(1) |  |  |  |  |  |  |  |  |  |
Beaver Valley |  | $ | 61 |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | 46 |
Long-lived assets held for sale:(1) |  |  |  |  |  |  |  |  |  |
Wind turbines |  | 25 |  |  | — |  |  | — |  |  | 25 |  |  | — |
Discontinued operations and held for sale businesses: |  |  |  |  |  |  |  |  |  |  |
Ukraine utilities |  | 143 |  |  | — |  |  | 109 |  |  | — |  |  | 38 |
_____________________________
(1) | See Note 15 — Asset Impairment Expense for further information.
(2) | See Note 16 — Discontinued Operations and Held-For-Sale Businesses for further information. Also, the gross loss equals the carrying amount of the disposal group less its fair value less costs to sell.
(3) | See Note 14 - Goodwill Impairments for further information.
Financial instruments not measured at fair value in the condensed consolidated balance sheets | The following table sets forth the carrying amount, fair value and fair value hierarchy of the Company’s financial assets and liabilities that are not measured at fair value in the condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013, but for which fair value is disclosed.
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (in millions)
March 31, 2014 |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Accounts receivable — noncurrent(1) |  | $ | 220 |  |  | $ | 194 |  |  | $ | — |  |  | $ | — |  |  | $ | 194 |
Liabilities |  |  |  |  |  |  |  |  |  |
Non-recourse debt |  | 15,802 |  |  | 16,191 |  |  | — |  |  | 14,026 |  |  | 2,165 |
Recourse debt |  | 5,683 |  |  | 6,103 |  |  | — |  |  | 6,103 |  |  | — |
December 31, 2013 |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Accounts receivable — noncurrent(1) |  | $ | 260 |  |  | $ | 194 |  |  | $ | — |  |  | $ | — |  |  | $ | 194 |
Liabilities |  |  |  |  |  |  |  |  |  |
Non-recourse debt |  | 15,380 |  |  | 15,620 |  |  | — |  |  | 13,397 |  |  | 2,223 |
Recourse debt |  | 5,669 |  |  | 6,164 |  |  | — |  |  | 6,164 |  |  | — |
_____________________________
(1) | These accounts receivable principally relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in “Noncurrent assets — Other” in the accompanying condensed consolidated balance sheets. The fair value of these accounts receivable excludes value-added tax of $38 million and $46 million at March 31, 2014 and December 31, 2013, respectively.

X
- Definition This element represents, for the fair value measurement of derivative assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) + References No definition available. + Details
Name: | aes_FairValueDerivativeAssetsLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | aes_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the financial instruments not carried on the balance sheet at fair value by class and level of within the fair value hierarchy. + References No definition available. + Details
Name: | aes_FairValueOfFinancialInstrumentsNotCarriedAtFairValueTableTextBlock
Namespace Prefix: | aes_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure summarizing the unobservable inputs used to measure Level 3 financial instruments. + References No definition available. + Details
Name: | aes_FairValueScheduleOfUnobservableInputsTableTextBlock
Namespace Prefix: | aes_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration