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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Interest Rate And Cross Currency Derivatives By Type Table | The following tables present the Company’s maximum notional (in millions) over the remaining contractual period by type of derivative as of June 30, 2023, regardless of whether they are in qualifying cash flow hedging relationships, and the dates through which the maturities for each type of derivative range:
Interest Rate and Foreign Currency Derivatives |  | Maximum Notional Translated to USD |  | Latest Maturity
Interest rate |  | $ | 7,062 |  |  | 2059
Cross-currency swaps (Brazilian real) |  | 404 |  |  | 2026
Foreign Currency: |  |  |  |
Chilean peso |  | 173 |  |  | 2026
Euro |  | 142 |  |  | 2025
Colombian peso |  | 49 |  |  | 2024
Brazilian real |  | 28 |  |  | 2024
Mexican peso |  | 12 |  |  | 2024
Argentine peso |  | 3 |  |  | 2026
Commodity Derivatives |  | Maximum Notional |  | Latest Maturity
Natural Gas (in MMBtu) |  | 108 |  |  | 2029
Power (in MWhs) |  | 18 |  |  | 2040
Coal (in Tons or Metric Tons) |  | 5 |  |  | 2027
Derivative Assets Liabilities At Fair Value Net By Balance Sheet Classification And Type Table | The following tables present the fair value of assets and liabilities related to the Company’s derivative instruments as of the periods indicated (in millions):
Fair Value | June 30, 2023 |  | December 31, 2022
Assets | Designated |  | Not Designated |  | Total |  | Designated |  | Not Designated |  | Total
Interest rate derivatives | $ | 273 |  |  | $ | — |  |  | $ | 273 |  |  | $ | 313 |  |  | $ | 1 |  |  | $ | 314 |
Foreign currency derivatives | 29 |  |  | 57 |  |  | 86 |  |  | 27 |  |  | 59 |  |  | 86 |
Commodity derivatives | — |  |  | 240 |  |  | 240 |  |  | — |  |  | 245 |  |  | 245 |
Total assets | $ | 302 |  |  | $ | 297 |  |  | $ | 599 |  |  | $ | 340 |  |  | $ | 305 |  |  | $ | 645 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | 16 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Cross-currency derivatives | 76 |  |  | — |  |  | 76 |  |  | 42 |  |  | — |  |  | 42 |
Foreign currency derivatives | 3 |  |  | 19 |  |  | 22 |  |  | 9 |  |  | 11 |  |  | 20 |
Commodity derivatives | 86 |  |  | 211 |  |  | 297 |  |  | 59 |  |  | 347 |  |  | 406 |
Total liabilities | $ | 181 |  |  | $ | 230 |  |  | $ | 411 |  |  | $ | 116 |  |  | $ | 358 |  |  | $ | 474 |
| June 30, 2023 |  | December 31, 2022
Fair Value | Assets |  | Liabilities |  | Assets |  | Liabilities
Current | $ | 310 |  |  | $ | 127 |  |  | $ | 271 |  |  | $ | 168 |
Noncurrent | 289 |  |  | 284 |  |  | 374 |  |  | 306 |
Total | $ | 599 |  |  | $ | 411 |  |  | $ | 645 |  |  | $ | 474 |
Gain Loss In Earnings On Ineffective Portion Of Qualifying Cash Flow Hedges Table | The following table presents the pre-tax gains (losses) recognized in AOCL and earnings related to all derivative instruments for the periods indicated (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
2023 |  | 2022 |  | 2023 |  | 2022
Cash flow hedges |  |  |  |  |  |  |
Gains (losses) recognized in AOCL |  |  |  |  |  |  |
Interest rate derivatives | $ | 160 |  |  | $ | 323 |  |  | $ | 22 |  |  | $ | 627 |
Foreign currency derivatives | 4 |  |  | (24) |  |  | 12 |  |  | (12) |
Commodity derivatives | (4) |  |  | 32 |  |  | (27) |  |  | 61 |
Total | $ | 160 |  |  | $ | 331 |  |  | $ | 7 |  |  | $ | 676 |
Gains (losses) reclassified from AOCL into earnings |  |  |  |  |  |  |
Interest rate derivatives | $ | 13 |  |  | $ | (23) |  |  | $ | 49 |  |  | $ | (50) |
Foreign currency derivatives | (3) |  |  | — |  |  | (3) |  |  | — |
Commodity derivatives | (1) |  |  | — |  |  | 13 |  |  | (1) |
Total | $ | 9 |  |  | $ | (23) |  |  | $ | 59 |  |  | $ | (51) |
Gains (losses) on fair value hedging relationship |  |  |  |  |  |  |
Cross-currency derivatives | $ | (33) |  |  | $ | 8 |  |  | $ | (86) |  |  | $ | (35) |
Hedged items | 3 |  |  | (25) |  |  | 53 |  |  | 22 |
Total | $ | (30) |  |  | $ | (17) |  |  | $ | (33) |  |  | $ | (13) |
Loss reclassified from AOCL to earnings due to impairment of assets | $ | — |  |  | $ | (16) |  |  | $ | — |  |  | $ | (16) |
Gains (losses) reclassified from AOCL to earnings due to discontinuance of hedge accounting | $ | 13 |  |  | $ | (15) |  |  | 14 |  |  | (15) |
Gains (losses) recognized in earnings related to |  |  |  |  |  |  |
Not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate derivatives | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 3 |
Foreign currency derivatives | 4 |  |  | 4 |  |  | — |  |  | (15) |
Commodity derivatives and other | 126 |  |  | 30 |  |  | 191 |  |  | 17 |
Total | $ | 130 |  |  | $ | 35 |  |  | $ | 191 |  |  | $ | 5 |
Fair Value Measurements, Recurring and Nonrecurring | The following table summarizes our major categories of asset groups measured at fair value on a nonrecurring basis and their level within the fair value hierarchy (in millions).
| Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pre-tax Loss
Six Months Ended June 30, 2023 |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: |  |  |  |  |  |  |  |  |  |  |
Norgener (2) | 5/1/2023 |  | $ | 196 |  |  | $ | — |  |  | $ | — |  |  | $ | 24 |  |  | $ | 137 |
GAF Projects (AES Renewable Holdings) | 5/31/2023 |  | 29 |  |  | — |  |  | — |  |  | 11 |  |  | 18 |
Held-for-sale businesses: (3) |  |  |  |  |  |  |  |  |  |  |
Jordan (4) | 3/31/2023 |  | $ | 179 |  |  | $ | — |  |  | $ | 170 |  |  | $ | — |  |  | $ | 14 |
Jordan (4) | 6/30/2023 |  | 179 |  |  | — |  |  | 170 |  |  | — |  |  | 15 |
| Measurement Date |  | Carrying Amount (1) |  | Fair Value |  |
Six Months Ended June 30, 2022 |  | Level 1 |  | Level 2 |  | Level 3 |  | Pre-tax Loss
Long-lived assets held and used: |  |  |  |  |  |  |  |  |  |  |
Maritza | 4/30/2022 |  | $ | 927 |  |  | $ | — |  |  | $ | — |  |  | $ | 452 |  |  | $ | 475 |
_____________________________ (1)Represents the carrying values of the asset groups at the dates of measurement, before fair value adjustment. (2)The Norgener asset group includes long-lived assets, inventory, land, and other working capital, however per ASC 360-10, the pre-tax impairment expense is limited to the carrying amount of the long-lived assets. See Note 15 — Asset Impairment Expense for further information. The Company evaluated the carrying amount of the assets outside the scope of ASC 360-10 and determined that the carrying value of the other assets should not be reduced. (3)See Note 16 — Held-for-Sale for further information. (4)The pre-tax loss recognized was calculated using the $170 million fair value of the Jordan disposal group less costs to sell of $5 million and $6 million for the March 31, 2023 and June 30, 2023 measurement dates, respectively.
Fair Value Of Financial Instruments Not Carried At Fair Value [Table Text Block] | 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 Condensed Consolidated Balance Sheets as of the periods indicated, but for which fair value is disclosed:
|  | June 30, 2023
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 295 |  |  | $ | 338 |  |  | $ | — |  |  | $ | — |  |  | $ | 338 |
Liabilities: | Non-recourse debt | 20,872 |  |  | 20,540 |  |  | — |  |  | 19,084 |  |  | 1,456 |
| Recourse debt | 5,476 |  |  | 5,093 |  |  | — |  |  | 5,093 |  |  | — |
|  | December 31, 2022
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 255 |  |  | $ | 294 |  |  | $ | — |  |  | $ | — |  |  | $ | 294 |
Liabilities: | Non-recourse debt | 19,429 |  |  | 18,527 |  |  | — |  |  | 17,089 |  |  | 1,438 |
| Recourse debt | 3,894 |  |  | 3,505 |  |  | — |  |  | 3,505 |  |  | — |
_____________________________ (1)These amounts primarily relate to amounts impacted by the Stabilization Funds enacted by the Chilean government, and are included in Other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets.
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | 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 six months ended June 30, 2023 (in millions, except range amounts):
| Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Long-lived assets held and used: |  |  |  |  |  |  |
Norgener (1) | $ | 24 |  |  | Discounted cash flow |  | Annual revenue growth |  | (90)% to 994% (85%)
|  |  |  |  | Annual variable margin |  | (75)% to 276% (16%)
GAF Projects (AES Renewable Holdings) | 11 |  |  | Discounted cash flow |  | Annual revenue growth |  | (42)% to 44% (1%)
|  |  |  |  | Annual variable margin |  | (194)% to 77% (66%)
|  |  |  |  | Discount rate |  | 9%
Total | $ | 35 |  |  |  |  |  |  |
_____________________________ (1)The fair value of the Norgener asset group is mainly related to existing coal inventory not subject to impairment under ASC 360-10.

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