Disposition of business interests

6 | The AES Corporation

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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Nine Months Ended September 30, 2021 |  |  |
|  | Preferred Stock |  | Common Stock |  | Treasury Stock |  | AdditionalPaid-InCapital |  | AccumulatedDeficit |  | AccumulatedOtherComprehensiveLoss |  | NoncontrollingInterests |  |  |
|  | Shares |  | Amount |  | Shares |  | Amount |  | Shares |  | Amount |  |  |  |  |  |  |
|  | (in millions) |  |  |
| Balance at January 1, 2021 | —  |  |  | $ | —  |  |  | 818.4  |  |  | $ | 8  |  |  | 153.0  |  |  | $ | (1,858) |  |  | $ | 7,561  |  |  | $ | (680) |  |  | $ | (2,397) |  |  | $ | 2,086  |  |  |  |
| Net income (loss) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (148) |  |  | —  |  |  | 119  |  |  |  |
| Total foreign currency translation adjustment, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (53) |  |  | (16) |  |  |  |
| Total change in derivative fair value, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 219  |  |  | 27  |  |  |  |
| Total pension adjustments, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  |  |
| Total other comprehensive income | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 166  |  |  | 12  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Fair value adjustment (1) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 33  |  |  | —  |  |  | —  |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Distributions to noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (17) |  |  |  |
| Acquisitions of noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (5) |  |  | —  |  |  | (6) |  |  | (3) |  |  |  |
| Contributions from noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 94  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Issuance of preferred stock | 1.0  |  |  | 1,043  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (235) |  |  | —  |  |  | —  |  |  | —  |  |  |  |
| Dividends declared on common stock ($0.1505/share) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (101) |  |  | —  |  |  | —  |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Issuance and exercise of stock-based compensation benefit plans, net of income tax | —  |  |  | —  |  |  | 0.2  |  |  | —  |  |  | (0.7) |  |  | 8  |  |  | (12) |  |  | —  |  |  | —  |  |  | —  |  |  |  |
| Balance at March 31, 2021 | 1.0  |  |  | $ | 1,043  |  |  | 818.6  |  |  | $ | 8  |  |  | 152.3  |  |  | $ | (1,850) |  |  | $ | 7,241  |  |  | $ | (828) |  |  | $ | (2,237) |  |  | $ | 2,291  |  |  |  |
| Net income (loss) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 28  |  |  | —  |  |  | (103) |  |  |  |
| Total foreign currency translation adjustment, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 30  |  |  | 11  |  |  |  |
| Total change in derivative fair value, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (140) |  |  | (9) |  |  |  |
| Total pension adjustments, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  | (1) |  |  |  |
| Total other comprehensive income (loss) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (109) |  |  | 1  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Fair value adjustment (1) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (36) |  |  | —  |  |  | —  |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Disposition of business interests (2) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (109) |  |  |  |
| Distributions to noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (117) |  |  |  |
| Acquisitions of noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (2) |  |  | —  |  |  | (1) |  |  | —  |  |  |  |
| Contributions from noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  |  |
| Sales to noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 17  |  |  |  |
| Issuance of preferred shares in subsidiaries | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 151  |  |  |  |
| Issuance of preferred stock | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  | —  |  |  | —  |  |  | —  |  |  |  |
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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Issuance and exercise of stock-based compensation benefit plans, net of income tax | —  |  |  | —  |  |  | 0.1  |  |  | —  |  |  | —  |  |  | —  |  |  | 7  |  |  | —  |  |  | —  |  |  | —  |  |  |  |
| Balance at June 30, 2021 | 1.0  |  |  | $ | 1043  |  |  | 818.7  |  |  | $ | 8  |  |  | 152.3  |  |  | $ | (1,850) |  |  | $ | 7,211  |  |  | $ | (800) |  |  | $ | (2,347) |  |  | $ | 2,132  |  |  |  |
| Net income | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 343  |  |  | —  |  |  | 145  |  |  |  |
| Total foreign currency translation adjustment, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (33) |  |  | (25) |  |  |  |
| Total change in derivative fair value, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 18  |  |  | 6  |  |  |  |
| Total pension adjustments, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  | 2  |  |  |  |
| Total other comprehensive loss | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (14) |  |  | (17) |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Distributions to noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (40) |  |  |  |
| Acquisitions of noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (8) |  |  | —  |  |  | (4) |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Sales to noncontrolling interests | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (6) |  |  | —  |  |  | —  |  |  | 62  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Dividends declared on AES common stock ($0.1505/share) | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (100) |  |  | —  |  |  | —  |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Issuance and exercise of stock-based compensation benefit plans, net of income tax | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (0.3) |  |  | 4  |  |  | 2  |  |  | —  |  |  | —  |  |  | —  |  |  |  |
| Balance at September 30, 2021 | 1.0 |  | $ | 1043  |  |  | 818.7 |  | $ | 8  |  |  | 152.0 |  | $ | (1,846) |  |  | $ | 7,099  |  |  | $ | (457) |  |  | $ | (2,365) |  |  | $ | 2,282  |  |  |  |

  
(1)     Adjustment to record the redeemable stock of Colon at fair value.(2)     See Note [17](#id3b524e8d60a470289d6564c8a9642a5_94)—Held-For-Sale and Dispositions for further information.  
See Notes to Condensed Consolidated Financial Statements.  

