Other Non-Operating Expense Other Non-Operating Expense

12 Months Ended

Dec. 31, 2014

Other Income and Expenses [Abstract]

OTHER NON-OPERATING EXPENSE

OTHER NON-OPERATING EXPENSE

	Years Ended December 31,
	2014		2013		2012
	(in millions)
Entek	$	86	$	—	$	—
Silver Ridge	42		—		—
Elsta	—		129		—
China generation and wind	—		—		32
InnoVent	—		—		17
Other	—		—		1
Total other non-operating expense	$	128	$	129	$	50

2014

Entek — During 2014, the Company executed an agreement to sell its 49.62% equity interest in AES Entek for $125 million. AES Entek consists of 364 MW of natural gas and hydroelectric generation facilities, plus a coal-fired development project. The Company also determined that there was an other-than-temporary decline in the fair value of its equity method investment in AES Entek and recognized pretax impairment losses of $86 million in other non-operating expense. The sale of the Company's interest in Entek closed on December 18, 2014. See Note 8—Investments in and Advances to Affiliates, of this Form 10-K for further information.

Silver Ridge — During 2014, the Company determined that there was a decline in the fair value of its equity method investment in SRP that was other-than-temporary based on indications about the fair value of the projects in Italy and Spain that resulted from actual and proposed changes to their tariffs. For 2014, the Company has recognized a pretax impairment loss of $42 million in other non-operating expense. The transaction related to our 50% ownership interest in SRP closed on July 2, 2014 for $179 million. See Note 8—Investments in and Advances to Affiliates, of this Form 10-K for further information.

2013

Elsta — Elsta BV & Co CV ("Elsta"), a 630 MW combined cycle gas-fired plant in the Netherlands, is accounted for under the equity method of accounting. During 2013, the Company identified an impairment indicator resulting from initial negotiations with Elsta's offtakers for an extension of the existing PPA which expires during 2018, suggesting that the income earned under the existing PPA would likely be reduced upon an extension and that the resulting decline in the estimated fair value of the Company's equity method investment in Elsta was other-than-temporary. The Company recognized an impairment of $129 million by reducing the carrying value of $240 million to the estimated fair value of $111 million. The Company estimated fair value using probability-weighted outcomes which contemplated various scenarios involving the amendments to the existing PPA.

2012

China Generation and InnoVent — In the first quarter of 2012, the Company concluded that it was more likely than not that it would sell its interest in its equity method investments in China and France and recorded other-than-temporary-impairment ("OTTI") of $32 million and $17 million, respectively.