Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | THE AES CORPORATION |
Entity Central Index Key | 0000874761 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) percent | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Value of Initial Fixed $100 Investment Based On: Year (a) Summary Compensation Table Total for PEO 1 (b) Compensation Actually Paid to PEO 1,2 (c) Average Summary Compensation Table for Non-PEO NEOs 1 (d) Average Compensation Actually Paid to Non-PEO NEOs 1,2 (e) Total Shareholder Return 3 (f) Peer Group Total Shareholder Return 3 (g) Net Income ($M) (h) Parent Free Cash Flow ($M) 4 (i) 2022 $12,525,258 $27,934,235 $3,210,492 $4,525,790 $158 $120 ($546) $906 2021 $14,379,190 $13,464,027 $3,363,281 $2,482,306 $129 $118 ($409) $839 2020 $11,468,027 $15,372,256 $2,098,237 $2,583,769 $122 $101 $46 $777 (1) Mr. Gluski served as our principal executive officer (“PEO”) for the full year for each of 2022, 2021 and 2020. For 2022, our non-PEO named executive officers (“NEOs”) included Mr. Coughlin, Mr. Da Santos, Mr. Rubiolo, Ms. Mendoza, and Mr. Nebreda. For 2021, our non-PEO NEOs included Mr. Coughlin, Mr. Pimenta, Mr. Da Santos, Ms. Mendoza, and Ms. Krueger. For 2020, our non-PEO NEOs included Mr. Pimenta, Mr. Da Santos, Ms. Mendoza, and Ms. Krueger. (2) For each of 2022, 2021 and 2020, the values included in this column for the compensation actually paid to our PEO and the average compensation actually paid to our Non-PEO NEOs reflect the following adjustments to the values included in column (b) and column (d), respectively: Mr. Andres Gluski 2022 2021 2020 Summary Compensation Table Total for PEO (column (b))* $12,525,258 $14,379,190 $11,468,027 - Summary Compensation Table “Stock Awards” column value ($8,627,752) ($10,623,105) ($7,931,169) - Summary Compensation Table “Options Awards” column value $0 $0 $0 + Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end $16,022,414 $8,027,727 $9,410,569 + Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end $4,561,038 $262,049 $951,397 + Vesting date fair value of equity awards granted and vested in the covered year $0 $0 $0 + Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year $3,453,277 $1,418,166 $1,473,432 - Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year $0 $0 $0 + Dollar value of dividends/earnings paid on equity awards in the covered year $0 $0 $0 + Excess fair value for equity award modifications $0 $0 $0 Compensation Actually Paid to PEO (column (c)) $27,934,235 $13,464,027 $15,372,256 *Pension calculations excluded from the above table as AES’ PEO does not participate in any pension plan. Average for Non-PEO NEOs 2022 2021 2020 Summary Compensation Table Average Total for Non-PEO NEOs (column (d))* $3,210,492 $3,363,281 $2,098,237 - Summary Compensation Table “Stock Awards” Column Value ($1,605,414) ($1,772,678) ($991,531) - Summary Compensation Table “Options Awards” Column Value $0 ($574,563) $0 + Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end $2,361,757 $704,650 $1,176,481 + Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end $394,713 $18,412 $146,602 + Vesting date fair value of equity awards granted and vested in the covered year $0 $1,146,227 $0 + Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year $251,276 $139,807 $153,980 - Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year ($87,034) ($542,830) $0 + Dollar value of dividends/earnings paid on equity awards in the covered year $0 $0 $0 + Excess fair value for equity award modifications $0 $0 $0 Average Compensation Actually Paid to Non-PEO NEOs (column (e)) $4,525,790 $2,482,306 $2,583,769 *Pension calculations excluded from the above table as AES Non-PEO NEOs do not participate in any pension plan. (3) Total shareholder return (“TSR”) for the Company and the peer group was calculated as the yearly percentage change in cumulative TSR based on a deemed fixed investment of $100 at market close on December 31, 2019 and in accordance with Items 201(e) and 402(v) of Regulation S-K. For purposes of this pay versus performance disclosure, our peer group is the S&P 500 Utilities Index. Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time. (4) Parent Free Cash Flow is calculated as set forth on Appendix A: Non-GAAP Measures. | ||
PEO Total Compensation Amount | $ 12,525,258 | $ 14,379,190 | $ 11,468,027 |
PEO Actually Paid Compensation Amount | $ 27,934,235 | 13,464,027 | 15,372,256 |
Adjustment To PEO Compensation, Footnote [Text Block] | Mr. Andres Gluski 2022 2021 2020 Summary Compensation Table Total for PEO (column (b))* $12,525,258 $14,379,190 $11,468,027 - Summary Compensation Table “Stock Awards” column value ($8,627,752) ($10,623,105) ($7,931,169) - Summary Compensation Table “Options Awards” column value $0 $0 $0 + Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end $16,022,414 $8,027,727 $9,410,569 + Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end $4,561,038 $262,049 $951,397 + Vesting date fair value of equity awards granted and vested in the covered year $0 $0 $0 + Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year $3,453,277 $1,418,166 $1,473,432 - Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year $0 $0 $0 + Dollar value of dividends/earnings paid on equity awards in the covered year $0 $0 $0 + Excess fair value for equity award modifications $0 $0 $0 Compensation Actually Paid to PEO (column (c)) $27,934,235 $13,464,027 $15,372,256 *Pension calculations excluded from the above table as AES’ PEO does not participate in any pension plan. | ||
Non-PEO NEO Average Total Compensation Amount | $ 3,210,492 | 3,363,281 | 2,098,237 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,525,790 | 2,482,306 | 2,583,769 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average for Non-PEO NEOs 2022 2021 2020 Summary Compensation Table Average Total for Non-PEO NEOs (column (d))* $3,210,492 $3,363,281 $2,098,237 - Summary Compensation Table “Stock Awards” Column Value ($1,605,414) ($1,772,678) ($991,531) - Summary Compensation Table “Options Awards” Column Value $0 ($574,563) $0 + Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end $2,361,757 $704,650 $1,176,481 + Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end $394,713 $18,412 $146,602 + Vesting date fair value of equity awards granted and vested in the covered year $0 $1,146,227 $0 + Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year $251,276 $139,807 $153,980 - Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year ($87,034) ($542,830) $0 + Dollar value of dividends/earnings paid on equity awards in the covered year $0 $0 $0 + Excess fair value for equity award modifications $0 $0 $0 Average Compensation Actually Paid to Non-PEO NEOs (column (e)) $4,525,790 $2,482,306 $2,583,769 *Pension calculations excluded from the above table as AES Non-PEO NEOs do not participate in any pension plan. | ||
Tabular List [Table Text Block] | The following table lists the five financial performance measures that we believe represent the most important financial performance measures we use to link compensation actually paid to our NEOs for fiscal 2022 to our performance: Performance Metric Adjusted Earnings Per Share Parent Free Cash Flow Relative TSR vs. S&P 500 Utilities Index Relative TSR vs. S&P 500 Index Relative TSR vs. MSCI Latin America Index | ||
Total Shareholder Return Amount | $ 158 | 129 | 122 |
Peer Group Total Shareholder Return Amount | 120 | 118 | 101 |
Net Income (Loss) | $ (546) | $ (409) | $ 46 |
PEO Actually Paid Compensation Amount Change over Period | 81.70% | ||
Non-PEO NEO Average Compensation Actually Paid Amount Change Over Period | 75.20% | ||
Net Income (Loss) Change Over Period | $ (592,000,000) | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Earnings Per Share | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Other Performance Measure Amount | 906 | 839 | 777 |
Measure Name | Parent Free Cash Flow | ||
Parent Free Cash Flor Change over Period | $ 129,000,000 | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Other Performance Measure Amount | percent | 0.575 | ||
Measure Name | Relative TSR vs. S&P 500 Utilities Index | ||
Other Performance Measure Amount, Peer Group | percent | 0.201 | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative TSR vs. S&P 500 Index | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative TSR vs. MSCI Latin America Index | ||
PEO [Member] | Summary Compensation Table “Stock Awards” column value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (8,627,752) | $ (10,623,105) | $ (7,931,169) |
PEO [Member] | Summary Compensation Table “Options Awards” column value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,022,414 | 8,027,727 | 9,410,569 |
PEO [Member] | Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,561,038 | 262,049 | 951,397 |
PEO [Member] | Vesting date fair value of equity awards granted and vested in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,453,277 | 1,418,166 | 1,473,432 |
PEO [Member] | Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Dollar value of dividends/earnings paid on equity awards in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Excess fair value for equity award modifications [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Summary Compensation Table “Stock Awards” column value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,605,414) | (1,772,678) | (991,531) |
Non-PEO NEO [Member] | Summary Compensation Table “Options Awards” column value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (574,563) | 0 |
Non-PEO NEO [Member] | Year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,361,757 | 704,650 | 1,176,481 |
Non-PEO NEO [Member] | Year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 394,713 | 18,412 | 146,602 |
Non-PEO NEO [Member] | Vesting date fair value of equity awards granted and vested in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 1,146,227 | 0 |
Non-PEO NEO [Member] | Year-over-year change in fair value of equity awards granted in prior years that vested in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 251,276 | 139,807 | 153,980 |
Non-PEO NEO [Member] | Fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (87,034) | (542,830) | 0 |
Non-PEO NEO [Member] | Dollar value of dividends/earnings paid on equity awards in the covered year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Excess fair value for equity award modifications [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | $ 0 | $ 0 |