v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES:    
Net income (loss) $ 275 $ (73)
Adjustments to net income (loss):    
Depreciation, amortization, and accretion of AROs 433 337
Impairment expense 12 49
Deferred income tax expense (benefit), net of tax credit transfers allocated to AES (9) 10
Emissions Allowance Expense 71 102
Loss on realized/unrealized foreign currency (20) 8
Other 93 122
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 38 (99)
(Increase) decrease in inventory (38) (28)
(Increase) decrease in prepaid expenses and other current assets 403 169
(Increase) decrease in other assets 19 18
Increase (decrease) in accounts payable and other current liabilities (161) 3
Increase (decrease) in income tax payables, net, and other tax payables (112) (83)
Increase (decrease) in other liabilities 13 25
Net cash provided by operating activities 1,201 545
INVESTING ACTIVITIES:    
Capital expenditures (1,766) (1,254)
Payments to Acquire Businesses and Interest in Affiliates 0 4
Proceeds from Divestiture of Businesses and Interests in Affiliates 0 5
Sale of short-term investments 126 33
Purchase of short-term investments 0 (18)
Payments to Acquire Intangible Assets (159) (39)
Other investing 0 (5)
Net cash used in investing activities (1,799) (1,282)
FINANCING ACTIVITIES:    
Borrowings under the revolving credit facilities 1,403 1,187
Repayments under the revolving credit facilities (533) (451)
Proceeds from (Repayments of) Commercial Paper 41 255
Issuance of recourse debt 800 800
Repayments of recourse debt (800) (774)
Issuance of non-recourse debt 459 1,293
Repayments of non-recourse debt (373) (759)
Payments for financing fees (5) (21)
Purchases under supplier financing arrangements (468) (317)
Repayments of obligations under supplier financing arrangements 267 628
Distributions to noncontrolling interests (488) (84)
Contributions from noncontrolling interests 37 73
Sales to Noncontrolling Interests 117 245
Issuance of Preferred Shares in Subsidiaries 113 8
Dividends paid on AES common stock (125) (125)
Payments for financed capital expenditures (44) (7)
Other financing (47) (12)
Net cash provided by financing activities 756 1,317
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1) (1)
Net Cash Change Of Discontinued And Held For Sale Businesses 0 (52)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 157 527
Cash, cash equivalents and restricted cash, beginning 2,162 2,039
Cash, cash equivalents and restricted cash, ending 2,319 2,566
SUPPLEMENTAL DISCLOSURES:    
Cash payments for interest, net of amounts capitalized 266 267
Cash payments for income taxes, net of refunds 47 60
SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Lease Obligation Incurred 72 60
Capital Expenditures Incurred but Not yet Paid 520 377
Noncash contributions from noncontrolling interest related to tax credit transfers 190 0
Noncash distributions to noncontrolling interests 190 0
Non-cash contributions from noncontrolling interests 0 42
Dividends declared but not yet paid 125 125
Other current assets, net of allowance of $2 and $2, respectively 1,380  
Loss (gain) on realized/unrealized derivatives $ (6) $ (15)