AES CORP
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
AES$14.92+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
8 | The AES Corporation
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (in millions) | ||
| OPERATING ACTIVITIES: | ||
| Net income | $449 | $461 |
| Adjustments to net income: | ||
| Depreciation and amortization | 926 | 836 |
| Emissions allowance expense | 144 | 211 |
| Loss (gain) on realized/unrealized derivatives | (194) | 79 |
| Loss (gain) on disposal and sale of business interests | (43) | 4 |
| Impairment expense | 355 | 358 |
| Loss on realized/unrealized foreign currency | 92 | 184 |
| Deferred income tax expense (benefit), net of tax credit transfers | 423 | (102) |
| Other | 81 | 118 |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in accounts receivable | (576) | 16 |
| (Increase) decrease in inventory | 58 | 253 |
| (Increase) decrease in prepaid expenses and other current assets | 120 | 76 |
| (Increase) decrease in other assets | 177 | (4) |
| Increase (decrease) in accounts payable and other current liabilities | 34 | (187) |
| Increase (decrease) in income tax payables, net and other tax payables | (514) | (67) |
| Increase (decrease) in other liabilities | 132 | 73 |
| Net cash provided by operating activities | 1,664 | 2,309 |
| INVESTING ACTIVITIES: | ||
| Capital expenditures | (5,665) | (5,295) |
| Acquisitions of business interests, net of cash and restricted cash acquired | (79) | (311) |
| Proceeds from the sale of business interests, net of cash and restricted cash sold | 11 | 98 |
| Sale of short-term investments | 731 | 1,002 |
| Purchase of short-term investments | (725) | (764) |
| Contributions and loans to equity affiliates | (71) | (147) |
| Purchase of emissions allowances | (157) | (161) |
| Other investing | (134) | (95) |
| Net cash used in investing activities | (6,089) | (5,673) |
| FINANCING ACTIVITIES: | ||
| Borrowings under the revolving credit facilities | 5,652 | 3,939 |
| Repayments under the revolving credit facilities | (4,051) | (2,730) |
| Commercial paper borrowings (repayments), net | 611 | 604 |
| Issuance of recourse debt | 950 | 1,400 |
| Issuance of non-recourse debt | 5,199 | 1,784 |
| Repayments of non-recourse debt | (3,311) | (1,262) |
| Payments for financing fees | (88) | (76) |
| Purchases under supplier financing arrangements | 1,211 | 1,307 |
| Repayments of obligations under supplier financing arrangements | (1,412) | (1,099) |
| Distributions to noncontrolling interests | (165) | (173) |
| Contributions from noncontrolling interests | 137 | 63 |
| Sales to noncontrolling interests | 869 | 371 |
| Dividends paid on AES common stock | (361) | (333) |
| Payments for financed capital expenditures | (29) | (8) |
| Other financing | (25) | (47) |
| Net cash provided by financing activities | 5,187 | 3,740 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (47) | (108) |
| Increase in cash, cash equivalents and restricted cash of held-for-sale businesses | (146) | (20) |
| Total increase in cash, cash equivalents and restricted cash | 569 | 248 |
| Cash, cash equivalents and restricted cash, beginning | 1,990 | 2,087 |
| Cash, cash equivalents and restricted cash, ending | $2,559 | $2,335 |
| SUPPLEMENTAL DISCLOSURES: | ||
| Cash payments for interest, net of amounts capitalized | $1,103 | $735 |
| Cash payments for income taxes, net of refunds | 270 | 267 |
| SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Conversion of Corporate Units to shares of common stock (see Note 12) | 838 | — |
| Liabilities derecognized upon completion of remaining performance obligation for sale of Warrior Run receivables (see Note 14) | 273 | — |
| Noncash recognition of new operating and financing leases | 240 | 187 |
| Noncash contributions from noncontrolling interests | 213 | 60 |
| Initial recognition of contingent consideration for acquisitions | 14 | 215 |
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