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Acquisitions and Dispositions | 12 Months Ended
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Dec. 31, 2014
Business Combinations [Abstract] |
ACQUISITIONS AND DISPOSITIONS | DISPOSITIONS Ebute—On November 20, 2014, the Company completed the sale of its interest in Ebute, which included its 95% interest in AES Nigeria Barge Limited (“AES Ebute”) and its 100% interest in AES Nigeria Barge Operations Limited (“AES NBO”). Proceeds from the sale were $22 million and the Company recognized a $6 million loss on the sale in the fourth quarter of 2014. Ebute does not meet the criteria to be reported as discontinued operations under ASU No. 2014-08, which was adopted by the Company on July 1, 2014. Accordingly, Ebute's results are reflected in the Consolidated Statements of Operations within continuing operations. Excluding the loss on sale, Ebute's pretax income (loss) attributable to AES was $(27) million, $(29) million and $32 million for the years ended December 31, 2014, 2013 and 2012, respectively. Ebute is reported in the Europe SBU reportable segment. U.K. wind projects—On August 22, 2014, the Company sold 100% of its interests in four operating wind projects located in the U.K. with an aggregate generation capacity of 88 MW. Total net proceeds from the sale were $158 million and the Company recognized a pretax gain on sale of $78 million. These wind projects are reported in the Europe SBU reportable segment. These wind projects do not meet the criteria to be reported as discontinued operations under ASU 2014-08 and, accordingly, the results are reflected within continuing operations. Excluding the gain on sale, the pretax income (loss) attributable to AES for these disposed projects was $(18) million, $3 million, and $(3) million for the years ended December 31, 2014, 2013 and 2012, respectively. Trinidad Generation Unlimited—On July 10, 2013, the Company completed the sale of its 10% equity interest in Trinidad Generation Unlimited, an equity method investment, to the government of Trinidad and received net proceeds of $31 million. The carrying amount of the investment was $28 million and a gain of $3 million was recognized. Cartagena—On April 26, 2013, the Company sold its remaining interest in AES Energia Cartagena S.R.L. (“AES Cartagena”), a 1,199 MW gas-fired generation business in Spain upon the exercise of a purchase option included in the 2012 sale agreement where the Company sold its majority interest in the business. Net proceeds from the exercise of the option were approximately $24 million and the Company recognized a pretax gain of $20 million during the second quarter of 2013. In 2012, the Company had sold 80% of its 70.81% equity interest in Cartagena and had recognized a pretax gain of $178 million. Under the terms of the 2012 sale agreement, the buyer was granted an option to purchase the Company’s remaining 20% interest during a five-month period beginning March 2013, which was exercised on April 26, 2013 as described above. Due to the Company’s continued ownership interest, which extended beyond one year from the completion of the sale of its 80% interest in February 2012, the prior-period operating results of AES Cartagena were not classified as discontinued operations. InnoVent and St. Patrick—On June 28, 2012, the Company closed the sale of its equity interest in InnoVent and controlling interest in St. Patrick. Net proceeds from the sale transactions were $42 million. The prior period operating results of St. Patrick were not deemed material for reclassification to discontinued operations. See Note 21—Asset Impairment Expense and Note 9—Other Non-Operating Expense for further information. China—On September 6, 2012 and December 31, 2012, the Company completed the sale of its interest in equity method investments in China. These investments included coal-fired, hydropower and wind generation facilities accounted for under the equity method of accounting. Net proceeds from the sale were approximately $133 million and the Company recognized a pretax gain of $27 million on the transaction, which is reflected as a gain on sale of investment. See Note 9—Other Non-Operating Expense for further information.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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