Common stock, shares authorized (in shares)

2 | The AES Corporation | September 30, 2022 Form 10-QPART I: FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTSCondensed Consolidated Balance Sheets (Unaudited) 

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2022 |  | December 31, 2021 |
|  |  |  |  |
|  | (in millions, except share and per share amounts) |
| ASSETS |  |  |  |
| CURRENT ASSETS |  |  |  |
| Cash and cash equivalents | $ | 1,553  |  |  | $ | 943  |  |
| Restricted cash | 314  |  |  | 304  |  |
| Short-term investments | 671  |  |  | 232  |  |
| Accounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively | 1,787  |  |  | 1,418  |  |
| Inventory | 998  |  |  | 604  |  |
| Prepaid expenses | 149  |  |  | 142  |  |
| Other current assets | 1,303  |  |  | 897  |  |
| Current held-for-sale assets | 853  |  |  | 816  |  |
| Total current assets | 7,628  |  |  | 5,356  |  |
| NONCURRENT ASSETS |  |  |  |
| Property, Plant and Equipment: |  |  |  |
| Land | 465  |  |  | 426  |  |
| Electric generation, distribution assets and other | 26,003  |  |  | 25,552  |  |
| Accumulated depreciation | (8,532) |  |  | (8,486) |  |
| Construction in progress | 3,661  |  |  | 2,414  |  |
| Property, plant and equipment, net | 21,597  |  |  | 19,906  |  |
| Other Assets: |  |  |  |
| Investments in and advances to affiliates | 1,121  |  |  | 1,080  |  |
| Debt service reserves and other deposits | 167  |  |  | 237  |  |
| Goodwill | 1,179  |  |  | 1,177  |  |
| Other intangible assets, net of accumulated amortization of $415 and $385, respectively | 1,626  |  |  | 1,450  |  |
| Deferred income taxes | 380  |  |  | 409  |  |
|  |  |  |  |
|  |  |  |  |
| Other noncurrent assets, net of allowance of $57 and $23, respectively | 2,964  |  |  | 2,188  |  |
| Noncurrent held-for-sale assets | 1,113  |  |  | 1,160  |  |
| Total other assets | 8,550  |  |  | 7,701  |  |
| TOTAL ASSETS | $ | 37,775  |  |  | $ | 32,963  |  |
| LIABILITIES AND EQUITY |  |  |  |
| CURRENT LIABILITIES |  |  |  |
| Accounts payable | $ | 1,688  |  |  | $ | 1,153  |  |
| Accrued interest | 210  |  |  | 182  |  |
| Accrued non-income taxes | 244  |  |  | 266  |  |
| Accrued and other liabilities | 1,212  |  |  | 1,205  |  |
|  |  |  |  |
| Non-recourse debt, including $321 and $302, respectively, related to variable interest entities | 2,007  |  |  | 1,367  |  |
|  |  |  |  |
| Current held-for-sale liabilities | 541  |  |  | 559  |  |
| Total current liabilities | 5,902  |  |  | 4,732  |  |
| NONCURRENT LIABILITIES |  |  |  |
| Recourse debt | 4,668  |  |  | 3,729  |  |
| Non-recourse debt, including $2,167 and $2,223, respectively, related to variable interest entities | 15,530  |  |  | 13,603  |  |
|  |  |  |  |
| Deferred income taxes | 1,169  |  |  | 977  |  |
|  |  |  |  |
| Other noncurrent liabilities | 3,167  |  |  | 3,358  |  |
| Noncurrent held-for-sale liabilities | 677  |  |  | 740  |  |
| Total noncurrent liabilities | 25,211  |  |  | 22,407  |  |
| Commitments and Contingencies (see Note 8) |  |  |  |
| Redeemable stock of subsidiaries | 1,201  |  |  | 1,257  |  |
| EQUITY |  |  |  |
| THE AES CORPORATION STOCKHOLDERS’ EQUITY |  |  |  |
| Preferred stock (without par value, 50,000,000 shares authorized; 1,043,050 issued and outstanding at September 30, 2022 and December 31, 2021, respectively) | 838  |  |  | 838  |  |
| Common stock ($0.01 par value, 1,200,000,000 shares authorized; 818,790,001 issued and 667,949,778 outstanding at September 30, 2022 and 818,717,043 issued and 666,793,625 outstanding at December 31, 2021) | 8  |  |  | 8  |  |
| Additional paid-in capital | 6,818  |  |  | 7,106  |  |
| Accumulated deficit | (732) |  |  | (1,089) |  |
| Accumulated other comprehensive loss | (1,691) |  |  | (2,220) |  |
| Treasury stock, at cost (150,840,223 and 151,923,418 shares at September 30, 2022 and December 31, 2021, respectively) | (1,832) |  |  | (1,845) |  |
| Total AES Corporation stockholders’ equity | 3,409  |  |  | 2,798  |  |
| NONCONTROLLING INTERESTS | 2,052  |  |  | 1,769  |  |
| Total equity | 5,461  |  |  | 4,567  |  |
| TOTAL LIABILITIES AND EQUITY | $ | 37,775  |  |  | $ | 32,963  |  |

See Notes to Condensed Consolidated Financial Statements.  

