AES CORP

For the period ended Sep 30, 2025. Filed Nov 4, 2025.

About this filing

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, 2025 · Filed Nov 4, 2025

AES$14.90+0.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets

	September 30, 2025	December 31, 2024
(in millions, except share and per share amounts)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$1,758	$1,524
Restricted cash	689	437
Accounts receivable, net of allowance of $43 and $52, respectively	1,790	1,646
Inventory	607	593
Prepaid expenses	162	157
Other current assets, net of allowance of $2 and $0, respectively	1,781	1,612
Current held-for-sale assets	33	862
Total current assets	6,820	6,831
NONCURRENT ASSETS
Property, plant and equipment, net of accumulated depreciation of $9,579 and $8,701, respectively	36,511	33,166
Investments in and advances to affiliates	1,030	1,124
Debt service reserves and other deposits	102	78
Goodwill	345	345
Other intangible assets, net of accumulated amortization of $480 and $426, respectively	2,016	1,947
Deferred income taxes	404	365
Loan receivable, net of allowance of $19 and $0, respectively	781	—
Other noncurrent assets, net of allowance of $23 and $20, respectively	2,774	2,917
Noncurrent held-for-sale assets	—	633
Total noncurrent assets	43,963	40,575
TOTAL ASSETS	$50,783	$47,406
LIABILITIES, REDEEMABLE STOCK OF SUBSIDIARIES, AND EQUITY
CURRENT LIABILITIES
Accounts payable	$2,000	$1,654
Accrued interest	343	256
Accrued non-income taxes	297	249
Supplier financing arrangements	1,046	917
Accrued and other liabilities	1,362	1,246
Recourse debt	1,442	899
Non-recourse debt	2,944	2,688
Current held-for-sale liabilities	—	662
Total current liabilities	9,434	8,571
NONCURRENT LIABILITIES
Recourse debt	4,804	4,805
Non-recourse debt	21,659	20,626
Deferred income taxes	1,885	1,490
Other noncurrent liabilities	2,471	2,881
Noncurrent held-for-sale liabilities	—	391
Total noncurrent liabilities	30,819	30,193
Commitments and Contingencies (see Note 9)
Redeemable stock of subsidiaries	2,122	938
EQUITY
THE AES CORPORATION STOCKHOLDERS’ EQUITY
Common stock ($0.01 par value, 1,200,000,000 shares authorized; 859,836,539 issued and 712,120,944 outstanding at September 30, 2025 and 859,709,987 issued and 711,074,269 outstanding at December 31, 2024)	9	9
Additional paid-in capital	5,912	5,913
Retained earnings	555	293
Accumulated other comprehensive loss	(817)	(766)
Treasury stock, at cost (147,715,595 and 148,635,718 shares at September 30, 2025 and December 31, 2024, respectively)	(1,794)	(1,805)
Total AES Corporation stockholders’ equity	3,865	3,644
NONCONTROLLING INTERESTS	4,543	4,060
Total equity	8,408	7,704
TOTAL LIABILITIES, REDEEMABLE STOCK OF SUBSIDIARIES, AND EQUITY	$50,783	$47,406

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.