Equity (Tables)

6 Months Ended

Jun. 30, 2025

Components Of Accumulated Other Comprehensive Income

The following table summarizes the changes in AOCL by component, net of tax and NCI, for the six months ended June 30, 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	71		(119)		(4)		—		(52)
Amount reclassified to earnings	—		(9)		—		—		(9)
Other comprehensive income (loss)	71		(128)		(4)		—		(61)
Reclassification from NCI due to share sales and repurchases	—		(17)		8		—		(9)
Balance at the end of the period	$	(1,211)	$	392	$	(20)	$	3	$	(836)

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 June 30,				Six Months Ended June 30,
		2025		2024		2025		2024





Change in fair value of derivatives, net

	Non-regulated cost of sales	1		—		2		(1)
	Interest expense	(6)		(31)		10		(30)


	Foreign currency transaction gains (losses)	2		1		5		2
	Income (loss) from continuing operations before taxes and equity in earnings of affiliates	(3)		(30)		17		(29)
	Income tax benefit (expense)	(6)		7		(12)		7
	Net equity in earnings (losses) of affiliates	—		—		—		1
	Net income (loss)	(9)		(23)		5		(21)

	Less: Net loss attributable to noncontrolling interests and redeemable stock of subsidiaries	3		4		4		4
	Net income (loss) attributable to The AES Corporation	$	(6)	$	(19)	$	9	$	(17)

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):


	Six Months Ended June 30,
	2025		2024
Net income (loss) attributable to The AES Corporation	$	(49)	$	708
Transfers (to) from noncontrolling interest:
Increase (decrease) in The AES Corporation's paid-in capital for sale of subsidiary shares	184		(8)
Additional paid-in capital transferred to redeemable stock of subsidiaries (1)	(188)		—
Decrease in The AES Corporation's paid-in capital for acquisition of subsidiary shares	(26)		—
Net transfers to noncontrolling interest	(30)		(8)
Change from net income (loss) attributable to The AES Corporation and transfers (to) from noncontrolling interests	$	(79)	$	700