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Equity | 12 Months Ended
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Dec. 31, 2017
Equity [Abstract] |
Equity | EQUITY Equity Transactions with Noncontrolling Interests Alto Maipo — In March 2017, AES Gener completed the legal and financial restructuring of Alto Maipo. As part of this restructuring, AES indirectly acquired the 40% ownership interest of the noncontrolling shareholder, for a de minimis payment, and sold a 6.7% interest in the project to the construction contractor. This transaction resulted in a $196 million increase to the Parent Company’s Stockholders’ Equity due to an increase in additional paid-in-capital of $229 million, offset by the reclassification of accumulated other comprehensive losses from NCI to the Parent Company Stockholders’ Equity of $33 million. No gain or loss was recognized in net income as the sale was not considered to be a sale of in-substance real estate. After completion of the sale, the Company has an effective 62% economic interest in Alto Maipo. As the Company maintained control of the partnership after the sale, Alto Maipo continues to be consolidated by the Company within the Andes SBU reportable segment. Dominican Republic — As part of a purchase agreement executed in 2014, Estrella and Linda Groups, an investor-based group in the Dominican Republic, had options to acquire additional interests in our businesses in the Dominican Republic. In December 2015, Estrella and Linda Groups exercised their first call option to acquire an additional 2% of our businesses in the Dominican Republic for $18 million, resulting in a net increase of $7 million to additional paid-in-capital. No gain or loss was recognized in net income as the sale was not considered to be a sale of in-substance real estate. After exercising this option, Estrella and Linda Groups held a 10% interest in our businesses in the Dominican Republic. Estrella and Linda Groups had a final option to acquire an additional 10% of our businesses in the Dominican Republic for $125 million which expired in December 2017. In September 2017, Linda Group acquired 5% of our Dominican Republic business for $60 million, pre-tax. This transaction resulted in a net increase of $25 million to the Company’s additional paid-in-capital and noncontrolling interest, respectively. No gain or loss was recognized in net income as the sale was not considered a sale of in-substance real estate. As the Company maintained control after the sale, our businesses in the Dominican Republic continue to be consolidated by the Company within the MCAC SBU reportable segment. Jordan — In February 2016, the Company completed the sale of 40% of its interest in a wholly-owned subsidiary in Jordan that owns a controlling interest in the Jordan IPP4 gas-fired plant for $21 million. The transaction was accounted for as a sale of in-substance real estate and a pre-tax gain of $4 million, net of transaction costs, was recognized in net income. The cash proceeds from the sale are reflected in Proceeds from the sale of businesses, net of cash sold on the Consolidated Statement of Cash Flows for the period ended December 31, 2016. After completion of the sale, the Company has a 36% economic interest in Jordan IPP4 and continues to manage and operate the plant, with 40% owned by Mitsui Ltd. and 24% owned by Nebras Power Q.S.C. As the Company maintained control after the sale, Jordan IPP4 continues to be consolidated by the Company within the Eurasia SBU reportable segment. Brazil Reorganization — In 2015, the Company completed a restructuring of Tietê. This transaction resulted in no change of ownership or control. The $27 million impact of this equity transaction was recognized in additional paid-in-capital. Gener — In November 2015, the Company sold a 4% stake in AES Gener S.A. ("Gener") through its 99.9% owned subsidiary Inversiones Cachagua S.p.A ("Cachagua") for $145 million, net of transaction costs. The sale was of previously issued common shares of Gener to certain institutional investors and is not a sale of in-substance real estate. While the sale decreased Parent ownership interest from 70.7% to 66.7%, the Parent continues to retain its controlling financial interest in the subsidiary. The difference of $24 million between the fair value of the consideration received, net of taxes and transaction costs, and the amount by which the NCI is adjusted was recognized in additional paid-in-capital. No pre-tax gain or loss was recognized in net income as a result of this transaction. The following table summarizes the net income attributable to The AES Corporation and all transfers (to) from noncontrolling interests for the periods indicated (in millions):
|  | December 31,
|  | 2017 |  | 2016 |  | 2015
Net income (loss) attributable to The AES Corporation |  | $ | (1,161 | ) |  | $ | (1,130 | ) |  | $ | 306 |
Transfers from noncontrolling interest: |  |  |  |  |  |
Net increase in The AES Corporation's paid-in capital for sale of subsidiary shares |  | 13 |  |  | 84 |  |  | 323 |
Additional paid-in-capital, IPALCO shares, transferred to redeemable stock of subsidiaries (1) |  | — |  |  | (84 | ) |  | (377 | )
Increase (decrease) in The AES Corporation's paid-in-capital for purchase of subsidiary shares |  | 240 |  |  | (2 | ) |  | — |
Net transfers (to) from noncontrolling interest |  | 253 |  |  | (2 | ) |  | (54 | )
Change from net income (loss) attributable to The AES Corporation and transfers (to) from noncontrolling interests |  | $ | (908 | ) |  | $ | (1,132 | ) |  | $ | 252 |
_____________________________
(1) | See Note 17—Redeemable stock of subsidiaries for further information on increase in paid-in-capital transferred to redeemable stock of subsidiaries.
Deconsolidations UK Wind — During 2016, the Company determined it no longer had control of its wind development projects in the United Kingdom (“UK Wind”) as the Company no longer held seats on the board of directors. In accordance with accounting guidance, UK Wind was deconsolidated and a loss on deconsolidation of $20 million was recorded to Gain (loss) on disposal and sale of businesses in the Consolidated Statement of Operations to write off the Company’s noncontrolling interest in the project. The UK Wind projects were reported in the Eurasia SBU reportable segment. Accumulated Other Comprehensive Loss — The changes in AOCL by component, net of tax and noncontrolling interests, for the periods indicated were as follows (in millions):
| Foreign currency translation adjustment, net |  | Unrealized derivative losses, net |  | Unfunded pension obligations, net |  | Total
Balance at December 31,2015 | $ | (3,256 | ) |  | $ | (353 | ) |  | $ | (274 | ) |  | $ | (3,883 | )
Other comprehensive income (loss) before reclassifications | 117 |  |  | 2 |  |  | (13 | ) |  | 106 |
Amount reclassified to earnings | 992 |  |  | 28 |  |  | 1 |  |  | 1,021 |
Other comprehensive income (loss) | $ | 1,109 |  |  | $ | 30 |  |  | $ | (12 | ) |  | $ | 1,127 |
Balance at December 31, 2016 | $ | (2,147 | ) |  | $ | (323 | ) |  | $ | (286 | ) |  | $ | (2,756 | )
Other comprehensive loss before reclassifications | $ | 18 |  |  | $ | (14 | ) |  | $ | (19 | ) |  | $ | (15 | )
Amount reclassified to earnings | 643 |  |  | 37 |  |  | 248 |  |  | 928 |
Other comprehensive income | $ | 661 |  |  | $ | 23 |  |  | $ | 229 |  |  | $ | 913 |
Reclassification from NCI due to Alto Maipo Restructuring | — |  |  | (33 | ) |  | — |  |  | (33 | )
Balance at December 31, 2017 | $ | (1,486 | ) |  | $ | (333 | ) |  | $ | (57 | ) |  | $ | (1,876 | )
Reclassifications out of AOCL are presented in the following table. Amounts for the periods indicated are in millions and those in parenthesis indicate debits to the Condensed Consolidated Statements of Operations:
Details About |  |  |  | December 31,
AOCL Components |  | Affected Line Item in the Consolidated Statements of Operations |  | 2017 |  | 2016 |  | 2015
Foreign currency translation adjustments, net |  |  |  |
|  | Gain (loss) on disposal and sale of businesses |  | $ | (188 | ) |  | $ | — |  |  | $ | — |
|  | Net loss from disposal and impairments of discontinued operations |  | (455 | ) |  | (992 | ) |  | — |
|  | Net income (loss) attributable to The AES Corporation |  | $ | (643 | ) |  | $ | (992 | ) |  | $ | — |
Unrealized derivative gains (losses), net |  |  |  |
|  | Non-regulated revenue |  | $ | 25 |  |  | $ | 111 |  |  | $ | 43 |
|  | Non-regulated cost of sales |  | (12 | ) |  | (57 | ) |  | (14 | )
|  | Interest expense |  | (79 | ) |  | (107 | ) |  | (112 | )
|  | Gain (loss) on disposal and sale of businesses |  | — |  |  | — |  |  | (4 | )
|  | Foreign currency transaction gains |  | 15 |  |  | 8 |  |  | 12 |
|  | Income from continuing operations before taxes and equity in earnings of affiliates |  | (51 | ) |  | (45 | ) |  | (75 | )
|  | Income tax expense |  | 1 |  |  | 8 |  |  | 11 |
|  | Net equity in earnings of affiliates |  | — |  |  | — |  |  | (2 | )
|  | Income (loss) from continuing operations |  | (50 | ) |  | (37 | ) |  | (66 | )
|  | Less: (Income) from continuing operations attributable to noncontrolling interests |  | 13 |  |  | 9 |  |  | 18 |
|  | Net income (loss) attributable to The AES Corporation |  | $ | (37 | ) |  | $ | (28 | ) |  | $ | (48 | )
Amortization of defined benefit pension actuarial losses, net |  |  |  |
|  | Non-regulated cost of sales |  | 1 |  |  | — |  |  | 2 |
|  | General and administrative expenses |  | (1 | ) |  | (1 | ) |  | (2 | )
|  | Other expense |  | — |  |  | (1 | ) |  | — |
|  | Income from continuing operations before taxes and equity in earnings of affiliates |  | — |  |  | (2 | ) |  | — |
|  | Income tax expense |  | — |  |  | 3 |  |  | 9 |
|  | Income from continuing operations |  | — |  |  | 1 |  |  | 9 |
|  | Net loss from disposal and impairments of discontinued operations |  | (266 | ) |  | (11 | ) |  | (25 | )
|  | Net income (loss) |  | (266 | ) |  | (10 | ) |  | (16 | )
|  | Less: (Income) from continuing operations attributable to noncontrolling interests |  | — |  |  | 9 |  |  | 14 |
|  | Add: Loss from discontinued operations attributable to noncontrolling interests |  | 18 |  |  | — |  |  | — |
|  | Net income (loss) attributable to The AES Corporation |  | $ | (248 | ) |  | $ | (1 | ) |  | $ | (2 | )
Total reclassifications for the period, net of income tax and noncontrolling interests |  | $ | (928 | ) |  | $ | (1,021 | ) |  | $ | (50 | )
Common Stock Dividends — The Parent Company paid dividends of $0.12 per outstanding share to its common stockholders during the first, second, third and fourth quarters of 2017 for dividends declared in December 2016, February, July, and October 2017, respectively. On December 8, 2017, the Board of Directors declared a quarterly common stock dividend of $0.13 per share payable on February 15, 2018 to shareholders of record at the close of business on February 1, 2018. Stock Repurchase Program — No shares were repurchased in 2017. The cumulative repurchases from the commencement of the Program in July 2010 through December 31, 2017 totaled 154.3 million shares for a total cost of $1.9 billion, at an average price per share of $12.12 (including a nominal amount of commissions). As of December 31, 2017, $246 million remained available for repurchase under the Program. The common stock repurchased has been classified as treasury stock and accounted for using the cost method. A total of 155,924,785 and 156,878,891 shares were held as treasury stock at December 31, 2017 and 2016, respectively. Restricted stock units under the Company's employee benefit plans are issued from treasury stock. The Company has not retired any common stock repurchased since it began the Program in July 2010.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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