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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income from Continuing Operations before taxes and equity in earnings of affiliates [Table Text Block]

The following table shows the income (loss) from continuing operations, before income taxes, net equity in earnings of affiliates and noncontrolling interests, for the periods indicated (in millions):

December 31,						2024						2023						2022
U.S.						$	(264)					$	(238)					$	22
Non-U.S.						1,158						342						(191)
Total						$	894					$	104					$	(169)

Income Tax Expense On Continuing Operations

The following table summarizes the expense for income taxes on continuing operations for the periods indicated (in millions):

December 31,						2024						2023						2022
Federal:			Current			$	4					$	9					$	3
			Deferred			(220)						15						(18)
State:			Current			29						16						2
			Deferred			23						30						1
Foreign:			Current			249						289						256
			Deferred			(26)						(98)						21
Total						$	59					$	261					$	265

Reconciliation Of US Federal Income Tax Rates And AES Effective Tax Rate For The Current And Two Prior Years

The following table summarizes a reconciliation of the U.S. statutory federal income tax rate to the Company's effective tax rate as a percentage of income from continuing operations before taxes for the periods indicated:

December 31,			2024						2023						2022
Statutory Federal tax rate			21		%				21		%				21		%
State taxes, net of Federal tax benefit			(2)		%				87		%				(1)		%
Taxes on foreign earnings			(10)		%				14		%				(42)		%
Valuation allowance			52		%				83		%				(10)		%
Uncertain tax positions			—		%				—		%				7		%
U.S. Investment Tax Credit			(31)		%				(70)		%				—		%
Noncontrolling interest in U.S. subsidiaries			25		%				115		%				—		%
Nondeductible goodwill impairments			—		%				3		%				(127)		%
U.S. capital loss			(41)		%				—		%				—		%
U.S. interest expense			(5)		%				—		%				—		%
Other—net			(2)		%				(2)		%				(5)		%
Effective tax rate			7		%				251		%				(157)		%

Schedule Of Income Tax Payable And Receivable

The following table summarizes the income taxes receivable and payable as of the periods indicated (in millions):

December 31,						2024						2023
Income taxes receivable—current						$	85					$	95
Income taxes receivable—noncurrent						32						41
Total income taxes receivable						$	117					$	136
Income taxes payable—current						$	71					$	103
Income taxes payable—noncurrent						—						—
Total income taxes payable						$	71					$	103

Summary Of Deferred Tax Assets And Liabilities

The following table summarizes deferred tax assets and liabilities, as of the periods indicated (in millions):

December 31,						2024						2023
Differences between book and tax basis of property						$	(1,104)					$	(966)
Investment in U.S. tax partnerships						(785)						(578)
Other taxable temporary differences						(438)						(403)
Total deferred tax liability						(2,327)						(1,947)
Operating loss carryforwards						933						1,132
Capital loss carryforwards						501						65
Bad debt and other book provisions						91						92
Tax credit carryforwards						48						72
Other deductible temporary differences						542						409
Total gross deferred tax asset						2,115						1,770
Less: Valuation allowance						(913)						(672)
Total net deferred tax asset						1,202						1,098
Net deferred tax liability						$	(1,125)					$	(849)

Uncertain Tax Positions [Table Text Block]

The following table shows the total amount of gross accrued income taxes related to interest and penalties included in the Consolidated Balance Sheets for the periods indicated (in millions):

December 31,						2024						2023
Interest related						$	2					$	2
Penalties related						—						—

The following table shows the expense/(benefit) related to interest and penalties on unrecognized tax benefits for the periods indicated (in millions):

December 31,						2024						2023						2022
Total benefit for interest related to unrecognized tax benefits						$	—					$	—					$	—
Total expense for penalties related to unrecognized tax benefits						—						—						—

Tax Years Potentially Subject To Examination And Jurisdictions

The following is a summary of tax years potentially subject to examination in the significant tax and business jurisdictions in which we operate:

Jurisdiction						Tax Years Subject to Examination
Argentina						2018 - 2024
Brazil						2018 - 2024
Chile						2021 - 2024
Colombia						2018 - 2024
Dominican Republic						2021 - 2024
El Salvador						2021 - 2024
Netherlands						2018 - 2024
Panama						2021 - 2024
United States (Federal)						2021 - 2024

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the periods indicated (in millions):

						2024						2023						2022
Balance at January 1						$	107					$	107					$	122
Additions for current year tax positions						—						1						4
Additions for tax positions of prior years						2						—						—
Reductions for tax positions of prior years						—						(1)						(16)
Settlements						—						—						(3)
Lapse of statute of limitations						(1)						—						—
Balance at December 31						$	108					$	107					$	107

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

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