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Revenue (Notes)
 6 Months Ended
Jun. 30, 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 June 30, 2021
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$659 $— $— $— $— $659 
Other regulated revenue
12 — — — — 12 
Total regulated revenue
671 — — — — 671 
Non-Regulated Revenue
Revenue from contracts with customers
232 959 465 215 (3)1,868 
Other non-regulated revenue (1)
69 5 25 62 — 161 
Total non-regulated revenue
301 964 490 277 (3)2,029 
Total revenue
$972 $964 $490 $277 $(3)$2,700 
Three Months Ended June 30, 2020
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers$610 $— $— $— $— $610 
Other regulated revenue14 — — — — 14 
Total regulated revenue624 — — — — 624 
Non-Regulated Revenue
Revenue from contracts with customers201 708 356 156 (2)1,419 
Other non-regulated revenue (1)
88 3 25 58 — 174 
Total non-regulated revenue289 711 381 214 (2)1,593 
Total revenue$913 $711 $381 $214 $(2)$2,217 
Six Months Ended June 30, 2021
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$1,357 $— $— $— $— $1,357 
Other regulated revenue
21 — — — — 21 
Total regulated revenue
1,378 — — — — 1,378 
Non-Regulated Revenue
Revenue from contracts with customers
456 1,842 975 424 (6)3,691 
Other non-regulated revenue (1)
87 6 50 123 — 266 
Total non-regulated revenue
543 1,848 1,025 547 (6)3,957 
Total revenue
$1,921 $1,848 $1,025 $547 $(6)$5,335 
Six Months Ended June 30, 2020
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers$1,313 $— $— $— $— $1,313 
Other regulated revenue23 — — — — 23 
Total regulated revenue1,336 — — — — 1,336 
Non-Regulated Revenue
Revenue from contracts with customers364 1,419 764 327 (4)2,870 
Other non-regulated revenue (1)
184 4 49 112 — 349 
Total non-regulated revenue548 1,423 813 439 (4)3,219 
Total revenue$1,884 $1,423 $813 $439 $(4)$4,555 
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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 $230 million and $531 million as of June 30, 2021 and December 31, 2020, respectively.
During the six months ended June 30, 2021 and 2020, we recognized revenue of $355 million and $11 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods.
In August 2020, AES Andes 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 Andes' 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 June 30, 2021, the remaining contract liability is $56 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 June 30, 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 $31 million. Mong Duong met the held-for-sale criteria and the loan receivable balance was reclassified to held-for-sale assets as of June 30, 2021. Of the loan receivable balance, $85 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 June 30, 2021, the aggregate amount of transaction price allocated to remaining performance obligations was $10 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 2022 and 2023, with the remainder recognized thereafter.