AES Corp. to take $250M-$325M pre-tax impairment on Maritza plant in Bulgaria

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

As a result of the transactions contemplated by the Purchase Agreement, we determined on April 14, 2026 that we will recognize an impairment of property, plant and equipment to be recorded in the second quarter of fiscal year 2026, which is currently estimated to be approximately $9,300,000.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

On April 8, 2026, The Mosaic Company (the "Company") announced that it will begin the process of idling and demobilizing its Araxá Mining and Chemical Complex and idling related mining activities at the Patrocínio Complex in Brazil. (the "Araxá Idling"). The Company currently anticipates recording a pre-tax book impact of $350 to $400 million in the first quarter of 2026 with $275 to $300 million for the impairment on assets held for sale and other asset writeoffs and the balance related to severance, contract termination costs, and other idling costs, subject to final accounting determinations.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

On March 2, 2026, the Company concluded that a material charge for impairment would result from notification of this breach of contract. The outstanding balance on this loan is $126.4 million. Based on currently available information, the non-cash impairment charge associated with this facility, which will be recognized in the first quarter of 2026, will be $126.4 million.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

On February 5, 2026, the Company concluded that it will record in the first quarter of 2026 an estimated non-cash, pre-tax impairment charge of approximately $93 million, attributable to certain of its intangible assets.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

HNI anticipates charges resulting from the consolidation will impact pre-tax earnings by an estimated $14.9 million in 2026 and 2027, including $5.7 million of non-cash charges.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

As a result, we concluded that our Ford Model e segment long-lived assets are impaired. In addition, we will write down certain other long-lived assets related to the canceled EVs. The aggregate expected pre-tax write-down is estimated to be about $8.5 billion, which will be recognized in the fourth quarter of 2025.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

These charges include approximately $165 million of non-cash impairment and accelerated depreciation charges and $40 million of cash charges for contract termination, severance, and other charges.

This filing

The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac

Comparable filing

sheet. As a result of these developments, based on currently available information and estimates, Bel anticipates recording a pre-tax impairment charge of up to approximately $14 million in the fourth quarter of 2025, representing the potential full loss of Bel’s Innolectric investment and notes receivable. The final amount of the impairment charge will be