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Cover and table of contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the Quarterly Period Ended September 30, 2021
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission file number 1-12291
THE AES CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 54-1163725 | |||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 4300 Wilson Boulevard | |||||||||||
| Arlington, | Virginia | 22203 | |||||||||
| (Address of principal executive offices) | (Zip Code) |
| Registrant's telephone number, including area code: | (703) | 522-1315 |
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
| Common Stock, par value $0.01 per share | AES | New York Stock Exchange | ||||||
| Corporate Units | AESC | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ | Non-accelerated filer | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares outstanding of Registrant’s Common Stock, par value $0.01 per share, on November 1, 2021 was 666,713,829.
The AES Corporation
Form 10-Q for the Quarterly Period ended September 30, 2021
Table of Contents
1 | The AES Corporation | September 30, 2021 Form 10-Q
Glossary of Terms
The following terms and acronyms appear in the text of this report and have the definitions indicated below:
| Adjusted EPS | Adjusted Earnings Per Share, a non-GAAP measure | ||||
| Adjusted PTC | Adjusted Pre-tax Contribution, a non-GAAP measure of operating performance | ||||
| AES | The Parent Company and its subsidiaries and affiliates | ||||
| AES Andes | AES Andes S.A., formerly branded as AES Gener | ||||
| AES Brasil | AES Tietê Energia S.A., formerly branded as AES Tietê | ||||
| AES Indiana | Indianapolis Power & Light Company, formerly branded as IPL. AES Indiana is wholly-owned by IPALCO | ||||
| AES Ohio | The Dayton Power & Light Company, formerly branded as DP&L. AES Ohio is wholly-owned by DPL | ||||
| AES Renewable Holdings | AES Renewable Holdings, LLC, formerly branded as AES Distributed Energy | ||||
| AIMCo | Alberta Management Investment Corporation | ||||
| AOCL | Accumulated Other Comprehensive Loss | ||||
| ASC | Accounting Standards Codification | ||||
| ASU | Accounting Standards Update | ||||
| CAA | United States Clean Air Act | ||||
| CAMMESA | Wholesale Electric Market Administrator in Argentina | ||||
| CCR | Coal Combustion Residuals, which includes bottom ash, fly ash and air pollution control wastes generated at coal-fired generation plant sites | ||||
| CECL | Current Expected Credit Loss | ||||
| CO2 | Carbon Dioxide | ||||
| CSAPR | Cross-State Air Pollution Rule | ||||
| DPL | DPL Inc. | ||||
| EPA | United States Environmental Protection Agency | ||||
| EPC | Engineering, Procurement and Construction | ||||
| EURIBOR | Euro Interbank Offered Rate | ||||
| FASB | Financial Accounting Standards Board | ||||
| FX | Foreign Exchange | ||||
| GAAP | Generally Accepted Accounting Principles in the United States | ||||
| GHG | Greenhouse Gas | ||||
| GILTI | Global Intangible Low Taxed Income | ||||
| GW | Gigawatts | ||||
| GWh | Gigawatt Hours | ||||
| HLBV | Hypothetical Liquidation Book Value | ||||
| IDEM | Indiana Department of Environmental Management | ||||
| IPALCO | IPALCO Enterprises, Inc. | ||||
| LIBOR | London Interbank Offered Rate | ||||
| LNG | Liquid Natural Gas | ||||
| MMBtu | Million British Thermal Units | ||||
| MW | Megawatts | ||||
| MWh | Megawatt Hours | ||||
| NAAQS | National Ambient Air Quality Standards | ||||
| NCI | Noncontrolling Interest | ||||
| NM | Not Meaningful | ||||
| NOV | Notice of Violation | ||||
| NOX | Nitrogen Oxide | ||||
| OPGC | Odisha Power Generation Corporation, Ltd. | ||||
| OTC Policy | Statewide Water Quality Control Policy on the Use of Coastal and Estuarine Waters for Power Plant Cooling | ||||
| PPA | Power Purchase Agreement | ||||
| PREPA | Puerto Rico Electric Power Authority | ||||
| PUCO | The Public Utilities Commission of Ohio | ||||
| RSU | Restricted Stock Unit | ||||
| SBU | Strategic Business Unit | ||||
| SEC | United States Securities and Exchange Commission | ||||
| SO2 | Sulfur Dioxide | ||||
| SWRCB | California State Water Resources Board | ||||
| TCJA | Tax Cuts and Jobs Act | ||||
| TDSIC | Transmission, Distribution, and Storage System Improvement Charge | ||||
| U.S. | United States | ||||
| USD | United States Dollar | ||||
| VAT | Value-Added Tax | ||||
| VIE | Variable Interest Entity |
2 | The AES Corporation | September 30, 2021 Form 10-Q
PART I: FINANCIAL INFORMATION
Next: Item 1. FINANCIAL STATEMENTS