SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Quarterly Financial Data — The following tables summarize the unaudited quarterly Condensed Consolidated Statements of Operations for the Company for 2015 and 2014 (amounts in millions, except per share data). Amounts have been restated to reflect discontinued operations in all periods presented and reflect all adjustments necessary in the opinion of management for a fair statement of the results for interim periods.



Quarter Ended 2015	Mar 31		June 30		Sept 30		Dec 31
Revenue	$	3,984	$	3,858	$	3,721	$	3,400
Operating margin	721		754		673		718
Income from continuing operations, net of tax⁽¹⁾	254		264		203		41
Discontinued operations, net of tax	—		—		—		—
Net income	$	254	$	264	$	203	$	41
Net income (loss) attributable to The AES Corporation	$	142	$	69	$	180	$	(85	)
Basic income (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation, net of tax	$	0.20	$	0.10	$	0.27	$	(0.13	)
Discontinued operations attributable to The AES Corporation, net of tax	—		—		—		—
Basic income (loss) per share attributable to The AES Corporation	$	0.20	$	0.10	$	0.27	$	(0.13	)
Diluted income (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation, net of tax	$	0.20	$	0.10	$	0.26	$	(0.13	)
Discontinued operations attributable to The AES Corporation, net of tax	—		—		—		—
Diluted income (loss) per share attributable to The AES Corporation	$	0.20	$	0.10	$	0.26	$	(0.13	)
Dividends declared per common share	$	—	$	0.10	$	0.10	$	0.21



Quarter Ended 2014	Mar 31			June 30			Sept 30		Dec 31
Revenue	$	4,262		$	4,311		$	4,441	$	4,132
Operating margin	794			819			767		708
Income (loss) from continuing operations, net of tax^(2,3)	89			281			508		298
Discontinued operations, net of tax	(23		)	(6		)	—		—
Net income (loss)	$	66		$	275		$	508	$	298
Net income (loss) attributable to The AES Corporation	$	(58	)	$	133		$	488	$	206
Basic income (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation, net of tax	$	(0.07	)	$	0.20		$	0.68	$	0.29
Discontinued operations attributable to The AES Corporation, net of tax	(0.01		)	(0.02		)	—		—
Basic income (loss) per share attributable to The AES Corporation	$	(0.08	)	$	0.18		$	0.68	$	0.29
Diluted income (loss) per share:
Income (loss) from continuing operations attributable to The AES Corporation, net of tax	$	(0.07	)	$	0.20		$	0.67	$	0.29
Discontinued operations attributable to The AES Corporation, net of tax	(0.01		)	(0.02		)	—		—
Diluted income (loss) per share attributable to The AES Corporation	$	(0.08	)	$	0.18		$	0.67	$	0.29
Dividends declared per common share	$	—		$	0.05		$	0.05	$	0.15


⁽¹⁾	Includes pretax impairment expense of $8 million, $37 million, $231 million and $326 million, for the first, second, third and fourth quarters of 2015, respectively. See Note 9—Other Non-Operating Expense, Note 10—Goodwill and Other Intangible Assets, and Note 21—Asset Impairment Expense for further discussion.

⁽²⁾

Includes a pretax gain of approximately $283 million for the third quarter of 2014 related to the sale of a noncontrolling interest in Masinloc. See Note 16—Equity for further discussion. Includes pretax gain of approximately $78 million for the third quarter of 2014 related to the sale of the U.K. wind projects. See Note 24—Dispositions and Held-for-Sale Businesses for further discussion. Includes pretax interest income of $59 million recognized on FONIVEMEM III receivables at AES Argentina in the fourth quarter of 2014. Also includes a pretax foreign currency derivative gain of $106 million recognized on the FONIVEMEM III receivables in the fourth quarter of 2014. See Note 7—Financing Receivables for further discussion. Includes pretax loss of $41 million recognized in Net equity in earnings of affiliates corresponding to the Company's share of an asset impairment at Elsta in the fourth quarter of 2014. See Note 8—Investments In And Advances To Affiliates for further discussion.


⁽³⁾	Includes pretax impairment expense of $166 million, $107 million, $31 million and $79 million, for the first, second, third and fourth quarters of 2014, respectively. See Note 9—Other Non-Operating Expense, Note 10—Goodwill and Other Intangible Assets, and Note 21—Asset Impairment Expense for further discussion.