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Revenue (Notes)
 3 Months Ended
Mar. 31, 2021
Revenue from Contracts with Customers [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):
Three Months Ended March 31, 2021
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$698 $— $— $— $— $698 
Other regulated revenue
9 — — — — 9 
Total regulated revenue
707 — — — — 707 
Non-Regulated Revenue
Revenue from contracts with customers
224 883 510 209 (3)1,823 
Other non-regulated revenue (1)
18 1 25 61 — 105 
Total non-regulated revenue
242 884 535 270 (3)1,928 
Total revenue
$949 $884 $535 $270 $(3)$2,635 
Three Months Ended March 31, 2020
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers$703 $— $— $— $— $703 
Other regulated revenue9 — — — — 9 
Total regulated revenue712 — — — — 712 
Non-Regulated Revenue
Revenue from contracts with customers163 711 408 171 (2)1,451 
Other non-regulated revenue (1)
96 1 24 54 — 175 
Total non-regulated revenue259 712 432 225 (2)1,626 
Total revenue$971 $712 $432 $225 $(2)$2,338 
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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 $376 million and $531 million as of March 31, 2021 and December 31, 2020, respectively.
During the three months ended March 31, 2021 and 2020, we recognized revenue of $183 million and $10 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 March 31, 2021, the remaining contract liability is $219 million.
A significant financing arrangement exists for our Mong Duong plant in Vietnam. The plant was constructed under a build, operate, and transfer 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. As of March 31, 2021, approximately $1.3 billion of contract consideration related to the construction, but not yet collected through the 25 year PPA, was reflected as a loan receivable, net of CECL reserve of $32 million. Mong Duong met the held-for-sale criteria and the loan receivable balance was reclassified to held-for-sale assets as of March 31, 2021. Of the loan receivable balance, $83 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 March 31, 2021, 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 (“RECs”) in long-term contracts in the U.S. We expect to recognize revenue on approximately one-fifth of the remaining performance obligations in 2020 and 2021, with the remainder recognized thereafter.