Revenue (Notes)

12 Months Ended

Dec. 31, 2020

Revenue [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

The following table presents our revenue from contracts with customers and other revenue for the periods indicated (in millions):

	Year Ended December 31, 2020
	US and Utilities SBU		South America SBU		MCAC SBU		Eurasia SBU		Corporate, Other and Eliminations		Total
Regulated Revenue
Revenue from contracts with customers	$	2,626	$	—	$	—	$	—	$	—	$	2,626
Other regulated revenue	35		—		—		—		—		35
Total regulated revenue	2,661		—		—		—		—		2,661
Non-Regulated Revenue
Revenue from contracts with customers	1,015		3,151		1,668		594		(10)		6,418
Other non-regulated revenue (1)	242		8		98		234		(1)		581
Total non-regulated revenue	1,257		3,159		$	1,766	828		(11)		6,999
Total revenue	$	3,918	$	3,159	$	1,766	$	828	$	(11)	$	9,660

	Year Ended December 31, 2019
	US and Utilities SBU		South America SBU		MCAC SBU		Eurasia SBU		Corporate, Other and Eliminations		Total
Regulated Revenue
Revenue from contracts with customers	$	2,979	$	—	$	—	$	—	$	—	$	2,979
Other regulated revenue	49		—		—		—		—		49
Total regulated revenue	3,028		—		$	—	—		$	—	3,028
Non-Regulated Revenue
Revenue from contracts with customers	767		3,205		1,788		$	799	(4)		$	6,555
Other non-regulated revenue (1)	263		3		94		248		(2)		606
Total non-regulated revenue	1,030		$	3,208	1,882		$	1,047	(6)		$	7,161
Total revenue	$	4,058	$	3,208	$	1,882	$	1,047	$	(6)	$	10,189

	Year Ended December 31, 2018
	US and Utilities SBU		South America SBU		MCAC SBU		Eurasia SBU		Corporate, Other and Eliminations		Total
Regulated Revenue
Revenue from contracts with customers	$	2,885	$	—	$	—	$	—	$	—	$	2,885
Other regulated revenue	54		—		—		—		—		54
Total regulated revenue	2,939		—		$	—	—		$	—	2,939
Non-Regulated Revenue
Revenue from contracts with customers	972		3,529		1,642		$	943	(11)		$	7,075
Other non-regulated revenue (1)	319		4		86		312		1		722
Total non-regulated revenue	1,291		$	3,533	1,728		$	1,255	(10)		$	7,797
Total revenue	$	4,230	$	3,533	$	1,728	$	1,255	$	(10)	$	10,736

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(1)Other non-regulated revenue primarily includes lease and derivative revenue not accounted for under ASC 606.

Contract Balances — The timing of revenue recognition, billings, and cash collections results in accounts receivable and contract liabilities. The contract liabilities from contracts with customers were $531 million and $117 million as of December 31, 2020 and December 31, 2019, respectively.

During the years ended December 31, 2020 and 2019, we recognized revenue of $14 million and $13 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods.

In August 2020, AES Gener reached an agreement with Minera Escondida and Minera Spence to early terminate two PPAs of the Angamos coal-fired plant in Chile, further accelerating AES Gener's decarbonization strategy. As a result of the termination payment, Angamos recognized a contract liability of $655 million, of which $55 million will be derecognized each month through the end of the remaining performance obligation in August 2021. As of December 31, 2020, the remaining contract liability is $383 million.

A significant financing arrangement exists for our Mong Duong plant in Vietnam. The plant was constructed under a BOT contract and will be transferred to the Vietnamese government after the completion of a 25 year PPA. The performance obligation to construct the facility was substantially completed in 2015. Approximately $1.4 billion of contract consideration related to the construction, but not yet collected through the 25 year PPA, was reflected as

a loan receivable as of December 31, 2019. As of December 31, 2020, Mong Duong met the held-for-sale criteria and the loan receivable balance of $1.3 billion, net of CECL reserve of $32 million, was reclassified to held-for-sale assets. Of the loan receivable balance, $80 million was classified as Current held-for-sale assets and $1.2 billion was classified as Noncurrent held-for-sale assets on the Consolidated Balance Sheet.

Remaining Performance Obligations — The transaction price allocated to remaining performance obligations represents future consideration for unsatisfied (or partially unsatisfied) performance obligations at the end of the reporting period. As of December 31, 2020, the aggregate amount of transaction price allocated to remaining performance obligations was $11 million, primarily consisting of fixed consideration for the sale of renewable energy credits in long-term contracts in the U.S. We expect to recognize revenue on approximately one-fifth of the remaining performance obligations in 2021 and 2022, with the remainder recognized thereafter.