XML 105 R49.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Fair Value (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Fair Value Disclosures [Abstract] |
Significant unobservable inputs, recurring | The following table summarizes the significant unobservable inputs used for the Level 3 derivative assets (liabilities) as of December 31, 2016 (in millions, except range amounts):
Type of Derivative |  | Fair Value |  | Unobservable Input |  | Amount or Range (Weighted Average)
Interest rate |  | $ | (179 | ) |  | Subsidiaries’ credit spreads |  | 2.1% - 4.4% (4.3%)
Foreign currency: |  |  |  |  |  |
Argentine Peso |  | 255 |  |  | Argentine Peso to U.S. Dollar currency exchange rate after one year |  | 19.9 - 33.4 (26.4)
Commodity: |  |  |  |  |  |
Other |  | 5 |  |  |  |  |
Total |  | $ | 81 |  |  |  |  |
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 years ended December 31, 2016 and 2015 (presented net by type of derivative in millions). 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.
Year Ended December 31, 2016 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (304 | ) |  | $ | 277 |  |  | $ | 3 |  |  | $ | (24 | )
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | — |  |  | 31 |  |  | 2 |  |  | 33 |
Included in other comprehensive income — derivative activity | (36 | ) |  | 6 |  |  | — |  |  | (30 | )
Included in other comprehensive income — foreign currency translation activity | 3 |  |  | (52 | ) |  | — |  |  | (49 | )
Included in regulatory (assets) liabilities | — |  |  | — |  |  | 11 |  |  | 11 |
Settlements | 72 |  |  | (22 | ) |  | (11 | ) |  | 39 |
Transfers of liabilities into Level 3 | (32 | ) |  | — |  |  | — |  |  | (32 | )
Transfers of liabilities out of Level 3 | 118 |  |  | 15 |  |  | — |  |  | 133 |
Balance at December 31 | $ | (179 | ) |  | $ | 255 |  |  | $ | 5 |  |  | $ | 81 |
Total gains 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 | $ | 6 |  |  | $ | 16 |  |  | $ | 2 |  |  | $ | 24 |
Year Ended December 31, 2015 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (210 | ) |  | $ | 209 |  |  | $ | 6 |  |  | $ | 5 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | (1 | ) |  | 198 |  |  | (1 | ) |  | 196 |
Included in other comprehensive income — derivative activity | (31 | ) |  | — |  |  | — |  |  | (31 | )
Included in other comprehensive income — foreign currency translation activity | 9 |  |  | (103 | ) |  | — |  |  | (94 | )
Included in regulatory (assets) liabilities | — |  |  | — |  |  | (18 | ) |  | (18 | )
Settlements | 24 |  |  | (7 | ) |  | 16 |  |  | 33 |
Transfers of liabilities into Level 3 | (95 | ) |  | (1 | ) |  | — |  |  | (96 | )
Transfers of assets out of Level 3 | — |  |  | (19 | ) |  | — |  |  | (19 | )
Balance at December 31 | $ | (304 | ) |  | $ | 277 |  |  | $ | 3 |  |  | $ | (24 | )
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 | $ | — |  |  | $ | 187 |  |  | $ | (1 | ) |  | $ | 186 |
Financial instruments not measured at fair value in the condensed consolidated balance sheets | The following table presents (in millions) 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 Consolidated Balance Sheets as of the periods indicated, but for which fair value is disclosed.
|  |  | December 31, 2016
|  |  | Carrying Amount |  | Fair Value
|  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) |  | $ | 264 |  |  | $ | 350 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 330 |
Liabilities: | Non-recourse debt |  | 15,792 |  |  | 16,188 |  |  | — |  |  | 15,120 |  |  | 1,068 |
| Recourse debt |  | 4,671 |  |  | 4,899 |  |  | — |  |  | 4,899 |  |  | — |
|  |  | December 31, 2015
|  |  | Carrying Amount |  | Fair Value
|  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) |  | $ | 238 |  |  | $ | 310 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 290 |
Liabilities: | Non-recourse debt |  | 15,115 |  |  | 15,592 |  |  | — |  |  | 13,325 |  |  | 2,267 |
| Recourse debt |  | 4,966 |  |  | 4,696 |  |  | — |  |  | 4,696 |  |  | — |
_____________________________
(1) | These accounts receivable principally relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in Other noncurrent assets in the accompanying Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $24 million and $27 million as of December 31, 2016 and 2015, respectively.
Significant unobservable inputs, nonrecurring | The following table summarizes the significant unobservable inputs used in the Level 3 measurement of long-lived assets held and used measured on a nonrecurring basis during the year ended December 31, 2016 (in millions, except range amounts):
December 31, 2016 |  | Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Long-lived assets held and used: |  |  |  |  |  |  |  |
DPL (1) |  | $ | 103 |  |  | Discounted cash flow |  | Annual revenue growth |  | -13% to -1% (-6%)
|  |  |  |  |  | Annual pretax operating margin |  | -42% to 3% (-16%)
|  |  |  |  |  | Weighted-average cost of capital |  | 7% to 10%
Buffalo Gap I |  | 36 |  |  | Discounted cash flow |  | Annual revenue growth |  | -20% to 9% (-14%)
|  |  |  |  |  | Annual pretax operating margin |  | -40% to 42% (29%)
|  |  |  |  |  | Weighted-average cost of capital |  | 9%
DPL (1) |  | 89 |  |  | Discounted cash flow |  | Annual revenue growth |  | -11% to 13% (1%)
|  |  |  |  |  | Annual pretax operating margin |  | -50% to 60% (5%)
|  |  |  |  |  | Weighted-average cost of capital |  | 7% to 12%
Buffalo Gap II |  | 92 |  |  | Discounted cash flow |  | Annual revenue growth |  | -17% to 21% (20%)
|  |  |  |  |  | Annual pretax operating margin |  | -166% to 48% (18%)
|  |  |  |  |  | Weighted-average cost of capital |  | 9%
Total |  | $ | 320 |  |  |  |  |  |  |
_____________________________
(1) | See Note 20—Asset Impairment Expense for further discussion of each DPL impairment.
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 (in millions):
Year Ended December 31, 2016 |  | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: (2) |  |  |  |  |  |  |  |  |  |  |  |
DPL |  | 12/31/2016 |  | $ | 787 |  |  | $ | — |  |  | $ | 60 |  |  | $ | 103 |  |  | $ | 624 |
Buffalo Gap I |  | 08/31/2016 |  | 113 |  |  | — |  |  | — |  |  | 36 |  |  | 77 |
DPL |  | 06/30/2016 |  | 324 |  |  | — |  |  | — |  |  | 89 |  |  | 235 |
Buffalo Gap II |  | 03/31/2016 |  | 251 |  |  | — |  |  | — |  |  | 92 |  |  | 159 |
Discontinued operations: (3) |  |  |  |  |  |  |  |  |  |  |  |
Sul |  | 06/30/2016 |  | 1,581 |  |  | — |  |  | 470 |  |  | — |  |  | 783 |
Year Ended December 31, 2015 |  | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: (2) |  |  |  |  |  |  |  |  |  |  |  |
Buffalo Gap III |  | 09/30/2015 |  | $ | 234 |  |  | $ | — |  |  | $ | — |  |  | $ | 118 |  |  | $ | 116 |
Kilroot |  | 08/28/2015 |  | 191 |  |  | — |  |  | — |  |  | 70 |  |  | 121 |
UK Wind |  | 06/30/2015 |  | 38 |  |  | — |  |  | 1 |  |  | — |  |  | 37 |
Other |  | Various |  | 32 |  |  | — |  |  | 21 |  |  | — |  |  | 11 |
Equity method investments: (4) |  |  |  |  |  |  |  |  |  |  |  |
Solar Spain |  | 02/09/2015 |  | 29 |  |  | — |  |  | — |  |  | 29 |  |  | — |
Goodwill: (5) |  |  |  |  |  |  |  |  |  |  |  |
DP&L |  | 10/01/2015 |  | 317 |  |  | — |  |  | — |  |  | — |  |  | 317 |
_____________________________
(1) | Represents the carrying values at the dates of measurement, before fair value adjustment.
(2) | See Note 20—Asset Impairment Expense for further information.
(3) | Per the Company's policy, pre-tax loss was limited to the impairment of long-lived assets. Upon disposal of AES Sul, we incurred an additional pre-tax loss on sale of $602 million. See Note 22—Discontinued Operations for further information.
(4) | See Note 7—Investments In and Advances to Affiliates for further information.
(5) | See Note 9—Goodwill and Other Intangible Assets for further information.
The foll
Fair value hierarchy for recurring measurements table | The following table presents, by level within the fair value hierarchy, as described in Note 1—General and Summary of Significant Accounting Policies, the Company's financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated (in millions). For the Company's investments in marketable debt and equity securities, the security classes presented are determined based on the nature and risk of the security and are consistent with how the Company manages, monitors and measures its marketable securities:
|  | December 31, 2016 |  | December 31, 2015
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AVAILABLE FOR SALE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debentures |  | $ | — |  |  | $ | 360 |  |  | $ | — |  |  | $ | 360 |  |  | $ | — |  |  | $ | 318 |  |  | $ | — |  |  | $ | 318 |
Certificates of deposit |  | — |  |  | 372 |  |  | — |  |  | 372 |  |  | — |  |  | 129 |  |  | — |  |  | 129 |
Government debt securities |  | — |  |  | 9 |  |  | — |  |  | 9 |  |  | — |  |  | 28 |  |  | — |  |  | 28 |
Subtotal |  | — |  |  | 741 |  |  | — |  |  | 741 |  |  | — |  |  | 475 |  |  | — |  |  | 475 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  | — |  |  | 49 |  |  | — |  |  | 49 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Subtotal |  | — |  |  | 49 |  |  | — |  |  | 49 |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Total available for sale |  | — |  |  | 790 |  |  | — |  |  | 790 |  |  | — |  |  | 490 |  |  | — |  |  | 490 |
TRADING: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
Total trading |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | — |  |  | 18 |  |  | — |  |  | 18 |  |  | — |  |  | — |  |  | — |  |  | — |
Cross currency derivatives |  | — |  |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign currency derivatives |  | — |  |  | 54 |  |  | 255 |  |  | 309 |  |  | — |  |  | 35 |  |  | 292 |  |  | 327 |
Commodity derivatives |  | — |  |  | 38 |  |  | 7 |  |  | 45 |  |  | — |  |  | 41 |  |  | 7 |  |  | 48 |
Total derivatives — assets |  | — |  |  | 114 |  |  | 262 |  |  | 376 |  |  | — |  |  | 76 |  |  | 299 |  |  | 375 |
TOTAL ASSETS |  | $ | 16 |  |  | $ | 904 |  |  | $ | 262 |  |  | $ | 1,182 |  |  | $ | 15 |  |  | $ | 566 |  |  | $ | 299 |  |  | $ | 880 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | — |  |  | $ | 121 |  |  | $ | 179 |  |  | $ | 300 |  |  | $ | — |  |  | $ | 54 |  |  | $ | 304 |  |  | $ | 358 |
Cross currency derivatives |  | — |  |  | 18 |  |  | — |  |  | 18 |  |  | — |  |  | 43 |  |  | — |  |  | 43 |
Foreign currency derivatives |  | — |  |  | 64 |  |  | — |  |  | 64 |  |  | — |  |  | 41 |  |  | 15 |  |  | 56 |
Commodity derivatives |  | — |  |  | 40 |  |  | 2 |  |  | 42 |  |  | — |  |  | 29 |  |  | 4 |  |  | 33 |
Total derivatives — liabilities |  | — |  |  | 243 |  |  | 181 |  |  | 424 |  |  | — |  |  | 167 |  |  | 323 |  |  | 490 |
TOTAL LIABILITIES |  | $ | — |  |  | $ | 243 |  |  | $ | 181 |  |  | $ | 424 |  |  | $ | — |  |  | $ | 167 |  |  | $ | 323 |  |  | $ | 490 |
Available-for-sale Securities [Table Text Block] | The following table presents gross proceeds from sale of AFS securities for the periods indicated (in millions):
Year Ended December 31, |  | 2016 |  | 2015 |  | 2014
Gross proceeds from sales of AFS securities |  | $ | 4,335 |  |  | $ | 4,177 |  |  | $ | 3,829 |

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 value level 3 nonrecurring measurements. + References No definition available. + Details
Name: | aes_FairValueScheduleOfUnobservableInputsNonrecurringTableTextBlock
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 available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
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 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: 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=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + 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=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration