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Held-for-Sale and Dispositions (Notes) | 9 Months Ended
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Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
DISPOSITIONS AND HELD-FOR-SALE BUSINESSES | HELD-FOR-SALE AND DISPOSITIONS Held-for-Sale AES Brasil — On May 15, 2024, the Company entered into an agreement to sell its 47.3% controlling interest in AES Brasil Energia S.A. (“AES Brasil”), a 5.2 GW portfolio of renewable energy that is 51% hydroelectric, 43% wind, and 6% solar. The transaction is expected to close in the fourth quarter of 2024. As a result, AES Brasil was classified as held-for-sale, but did not meet the criteria to be reported as discontinued operations. On a consolidated basis, the carrying value of the disposal group after impairments of the plants held-for-sale as of September 30, 2024 was $1.3 billion. AES Brasil is reported in the Renewables SBU reportable segment. Mong Duong — In November 2023, the Company entered into an agreement to sell its entire 51% ownership interest in Mong Duong 2, a coal-fired plant in Vietnam, and 51% equity interest in Mong Duong Finance Holdings B.V., an SPV accounted for as an equity affiliate (collectively "Mong Duong"). The sale is subject to regulatory approval and is expected to close in mid-2025. As a result, Mong Duong was classified as held-for-sale, but did not meet the criteria to be reported as discontinued operations. On a consolidated basis, the carrying value of the disposal group after impairment of the plant held-for-sale as of September 30, 2024 was $395 million. Mong Duong is reported in the Energy Infrastructure SBU reportable segment. Excluding any impairment charges, pre-tax income and pre-tax income attributable to AES of businesses held-for-sale as of September 30, 2024 was as follows:
| Three Months Ended September 30, |  |  | Nine Months Ended September 30,
(in millions) | 2024 |  | 2023 |  |  | 2024 |  | 2023
Pre-tax income of businesses held-for-sale: |  |  |  |  |  |  |  |
Mong Duong | $ | 23 |  |  | $ | 20 |  |  |  | $ | 63 |  |  | $ | 74 |
AES Brasil | 25 |  |  | 28 |  |  |  | 13 |  |  | 80 |
Total pre-tax income of businesses held-for-sale | $ | 48 |  |  | $ | 48 |  |  |  | $ | 76 |  |  | $ | 154 |
Pre-tax income attributable to AES of businesses held-for-sale: |  |  |  |  |  |  |  |
Mong Duong | $ | 10 |  |  | $ | 8 |  |  |  | $ | 27 |  |  | $ | 32 |
AES Brasil | 11 |  |  | 12 |  |  |  | 4 |  |  | 34 |
Total pre-tax income attributable to AES of of businesses held-for-sale | $ | 21 |  |  | $ | 20 |  |  |  | $ | 31 |  |  | $ | 66 |
Management has recorded pre-tax asset impairment expense of $54 million at Mong Duong, and $277 million at AES Brasil. As of September 30, 2024, the significant assets and liabilities of Mong Duong are a long-term financing receivable of $1 billion and debt of $582 million, respectively. As of September 30, 2024, AES Brasil’s major assets and liabilities include $2.2 billion in both property, plant and equipment and debt. See Note 16—Asset Impairment Expense and Note 14—Revenue for further information. Dispositions Jordan — In March 2024, the Company completed the sale of approximately 26% ownership interest in the Amman East and IPP4 generation plants for a sale price of $58 million. After adjusting for dividends received since the execution of the sale and purchase agreement, the Company received a net cash payment of $45 million. The transaction resulted in a pre-tax loss on sale of $10 million, reported in Gain on disposal and sale of business interests on the Condensed Consolidated Statement of Operations. After completion of the sale, the Company retained 10% ownership interest in each of the businesses, resulting in deconsolidation and recognition as equity method investments. Amman East and IPP4 are reported in the Energy Infrastructure SBU reportable segment.

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