Equity (Tables)

3 Months Ended

Mar. 31, 2025

Components Of Accumulated Other Comprehensive Income

The following table summarizes the changes in AOCL by component, net of tax and NCI, for the three months ended March 31, 2025 (in millions):


	Foreign currency translation adjustments, net		Change in fair value of derivatives, net		Pension adjustments, net		Change in fair value option liabilities, net		Total
Balance at the beginning of the period	$	(1,282)	$	537	$	(24)	$	3	$	(766)
Other comprehensive income (loss) before reclassifications	30		(98)		1		—		(67)
Amount reclassified to earnings	—		(15)		—		—		(15)
Other comprehensive income (loss)	30		(113)		1		—		(82)

Balance at the end of the period	$	(1,252)	$	424	$	(23)	$	3	$	(848)

Schedule Of Amounts Reclassified Out Of Accumulated Other Comprehensive Income

Reclassifications out of AOCL are presented in the following table. The Company’s accounting policy for releasing the income tax effects from AOCL occurs on a portfolio basis. Amounts for the periods indicated are in millions and those in parentheses indicate debits to the Condensed Consolidated Statements of Operations:


AOCL Components		Three Months Ended March 31,
			2025		2024





Change in fair value of derivatives, net

	Non-regulated cost of sales		1		(1)
	Interest expense		16		1


	Foreign currency transaction losses		3		1
	Income (loss) from continuing operations before taxes and equity in earnings of affiliates		20		1
	Income tax benefit (expense)		(6)		—
	Net equity in losses of affiliates		—		1
	Net income (loss)		14		2

	Less: Net loss attributable to noncontrolling interests and redeemable stock of subsidiaries		1		—
	Net income (loss) attributable to The AES Corporation		$	15	$	2

Schedule of Net Income Attributable to Parent and Transfers To From Noncontrolling Interests

The following table summarizes the net income (loss) attributable to The AES Corporation and all transfers (to) from noncontrolling interests for the periods indicated (in millions):


	Three Months Ended March 31,
	2025		2024
Net income attributable to The AES Corporation	$	46	$	432
Transfers (to) from noncontrolling interest:
Increase (decrease) in The AES Corporation's paid-in capital for sale of subsidiary shares	(15)		1


Change from net income attributable to The AES Corporation and transfers (to) from noncontrolling interests	$	31	$	433