XML 98 R37.htm IDEA: XBRL DOCUMENT
v3.19.3

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Marketable Securities [Table Text Block] | he following table presents gross proceeds from the sale of AFS securities during the periods indicated (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Gross proceeds from sale of AFS securities | $ | 193 |  |  | $ | 713 |  |  | $ | 517 |  |  | $ | 1,127 |
T
Fair value hierarchy for recurring measurements table | The following table presents, 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 dates indicated (in millions). For the Company’s investments in marketable debt 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:
| September 30, 2019 |  | December 31, 2018
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DEBT SECURITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debentures | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |
Certificates of deposit | — |  |  | 265 |  |  | — |  |  | 265 |  |  | — |  |  | 243 |  |  | — |  |  | 243 |
Total debt securities | — |  |  | 265 |  |  | — |  |  | 265 |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
EQUITY SECURITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 21 |  |  | 58 |  |  | — |  |  | 79 |  |  | 19 |  |  | 49 |  |  | — |  |  | 68 |
Total equity securities | 21 |  |  | 58 |  |  | — |  |  | 79 |  |  | 19 |  |  | 49 |  |  | — |  |  | 68 |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | — |  |  | 6 |  |  | — |  |  | 6 |  |  | — |  |  | 28 |  |  | 1 |  |  | 29 |
Cross-currency derivatives | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Foreign currency derivatives | — |  |  | 28 |  |  | 113 |  |  | 141 |  |  | — |  |  | 18 |  |  | 199 |  |  | 217 |
Commodity derivatives | — |  |  | 31 |  |  | 2 |  |  | 33 |  |  | — |  |  | 6 |  |  | 4 |  |  | 10 |
Total derivatives — assets | — |  |  | 65 |  |  | 115 |  |  | 180 |  |  | — |  |  | 58 |  |  | 204 |  |  | 262 |
TOTAL ASSETS | $ | 21 |  |  | $ | 388 |  |  | $ | 115 |  |  | $ | 524 |  |  | $ | 19 |  |  | $ | 355 |  |  | $ | 204 |  |  | $ | 578 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | — |  |  | $ | 266 |  |  | $ | 233 |  |  | $ | 499 |  |  | $ | — |  |  | $ | 67 |  |  | $ | 141 |  |  | $ | 208 |
Cross-currency derivatives | — |  |  | 3 |  |  | 6 |  |  | 9 |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Foreign currency derivatives | — |  |  | 34 |  |  | — |  |  | 34 |  |  | — |  |  | 41 |  |  | — |  |  | 41 |
Commodity derivatives | — |  |  | 20 |  |  | 3 |  |  | 23 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total derivatives — liabilities | — |  |  | 323 |  |  | 242 |  |  | 565 |  |  | — |  |  | 116 |  |  | 141 |  |  | 257 |
TOTAL LIABILITIES | $ | — |  |  | $ | 323 |  |  | $ | 242 |  |  | $ | 565 |  |  | $ | — |  |  | $ | 116 |  |  | $ | 141 |  |  | $ | 257 |
Fair Value, Net Derivative Assets (Liabilities) measured on a recurring basis, Unobservable Input Reconciliation 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 and nine months ended September 30, 2019 and 2018 (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.
Three Months Ended September 30, 2019 | Interest Rate |  | Cross Currency |  | Foreign Currency |  | Commodity |  | Total
Balance at July 1 | $ | (243 | ) |  | $ | — |  |  | $ | 192 |  |  | $ | 4 |  |  | $ | (47 | )
Total realized and unrealized gains (losses): |  |  |  |  |  |  |  |  |
Included in earnings | — |  |  | — |  |  | (54 | ) |  | (2 | ) |  | (56 | )
Included in other comprehensive income — derivative activity | (37 | ) |  | — |  |  | (10 | ) |  | — |  |  | (47 | )
Included in regulatory (assets) liabilities |  |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Settlements | 2 |  |  | — |  |  | (15 | ) |  | (1 | ) |  | (14 | )
Transfers of assets/(liabilities), net into Level 3 | — |  |  | (6 | ) |  | — |  |  | — |  |  | (6 | )
Transfers of (assets)/liabilities, net out of Level 3 | 45 |  |  | — |  |  | — |  |  | — |  |  | 45 |
Balance at September 30 | $ | (233 | ) |  | $ | (6 | ) |  | $ | 113 |  |  | $ | (1 | ) |  | $ | (127 | )
Total 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 | $ | — |  |  | $ | — |  |  | $ | (62 | ) |  | $ | (2 | ) |  | $ | (64 | )
Three Months Ended September 30, 2018 | Interest Rate |  | Cross Currency |  | Foreign Currency |  | Commodity |  | Total
Balance at July 1 | $ | (111 | ) |  | $ | — |  |  | $ | 219 |  |  | $ | 10 |  |  | $ | 118 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |  |  |
Included in other comprehensive income — derivative activity | 12 |  |  | — |  |  | — |  |  | — |  |  | 12 |
Included in regulatory (assets) liabilities | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Settlements | 3 |  |  | — |  |  | 2 |  |  | — |  |  | 5 |
Balance at September 30 | $ | (96 | ) |  | $ | — |  |  | $ | 221 |  |  | $ | 8 |  |  | $ | 133 |
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 | $ | 1 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 3 |
Nine Months Ended September 30, 2019 | Interest Rate |  | Cross Currency |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (140 | ) |  | $ | — |  |  | $ | 199 |  |  | $ | 4 |  |  | $ | 63 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |  |  |
Included in earnings | (1 | ) |  | — |  |  | (52 | ) |  | (2 | ) |  | (55 | )
Included in other comprehensive income — derivative activity | (113 | ) |  | — |  |  | (10 | ) |  | — |  |  | (123 | )
Included in regulatory (assets) liabilities | — |  |  | — |  |  | — |  |  | (3 | ) |  | (3 | )
Settlements | 5 |  |  | — |  |  | (24 | ) |  | — |  |  | (19 | )
Transfers of assets/(liabilities), net into Level 3 | (32 | ) |  | (6 | ) |  | — |  |  | — |  |  | (38 | )
Transfers of (assets)/liabilities, net out of Level 3 | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Balance at September 30 | $ | (233 | ) |  | $ | (6 | ) |  | $ | 113 |  |  | $ | (1 | ) |  | $ | (127 | )
Total 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 | $ | — |  |  | $ | — |  |  | $ | (69 | ) |  | $ | (2 | ) |  | $ | (71 | )
Derivative Assets, Significant unobservable inputs |
Nine Months Ended September 30, 2018 | Interest Rate |  | Cross Currency |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (151 | ) |  | $ | — |  |  | $ | 240 |  |  | $ | 4 |  |  | $ | 93 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |  |  |
Included in earnings | 28 |  |  | — |  |  | (3 | ) |  | 1 |  |  | 26 |
Included in other comprehensive income — derivative activity | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Included in regulatory (assets) liabilities | — |  |  | — |  |  | — |  |  | 6 |  |  | 6 |
Settlements | 12 |  |  | — |  |  | (16 | ) |  | (3 | ) |  | (7 | )
Transfers of assets/(liabilities), net into Level 3 | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Transfers of (assets)/liabilities, net out of Level 3 | (34 | ) |  | — |  |  | — |  |  | — |  |  | (34 | )
Balance at September 30 | $ | (96 | ) |  | $ | — |  |  | $ | 221 |  |  | $ | 8 |  |  | $ | 133 |
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 | $ | 32 |  |  | $ | — |  |  | $ | (19 | ) |  | $ | 1 |  |  | $ | 14 |
The following table summarizes the significant unobservable inputs used for Level 3 derivative assets (liabilities) as of September 30, 2019 (in millions, except range amounts):
Financial instruments not measured at fair value in the condensed consolidated balance sheets | s (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 Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018, but for which fair value is disclosed:
|  | September 30, 2019
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 62 |  |  | $ | 128 |  |  | $ | — |  |  | $ | — |  |  | $ | 128 |
Liabilities: | Non-recourse debt | 16,205 |  |  | 16,334 |  |  | — |  |  | 14,402 |  |  | 1,932 |
| Recourse debt | 3,561 |  |  | 3,692 |  |  | — |  |  | 3,692 |  |  | — |
|  | December 31, 2018
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 100 |  |  | $ | 209 |  |  | $ | — |  |  | $ | — |  |  | $ | 209 |
Liabilities: | Non-recourse debt | 15,645 |  |  | 16,225 |  |  | — |  |  | 13,524 |  |  | 2,701 |
| Recourse debt | 3,655 |  |  | 3,621 |  |  | — |  |  | 3,621 |  |  | — |
_____________________________ (1) These amounts primarily 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 Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $11 million and $16 million as of September 30, 2019 and December 31, 2018, respectively.

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 of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
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 financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration