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Revenue (Notes)
 9 Months Ended
Sep. 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 September 30, 2021
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$760 $— $— $— $— $760 
Other regulated revenue
9 — — — — 9 
Total regulated revenue
769 — — — — 769 
Non-Regulated Revenue
Revenue from contracts with customers
394 893 534 197 (3)2,015 
Other non-regulated revenue (1)
164 3 25 60 — 252 
Total non-regulated revenue
558 896 559 257 (3)2,267 
Total revenue
$1,327 $896 $559 $257 $(3)$3,036 
Three Months Ended September 30, 2020
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers$674 $— $— $— $— $674 
Other regulated revenue6 — — — — 6 
Total regulated revenue680 — — — — 680 
Non-Regulated Revenue
Revenue from contracts with customers378 848 417 134 (3)1,774 
Other non-regulated revenue (1)
3 2 25 61 — 91 
Total non-regulated revenue381 850 442 195 (3)1,865 
Total revenue$1,061 $850 $442 $195 $(3)$2,545 
Nine Months Ended September 30, 2021
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$2,117 $— $— $— $— $2,117 
Other regulated revenue
30 — — — — 30 
Total regulated revenue
2,147 — — — — 2,147 
Non-Regulated Revenue
Revenue from contracts with customers
850 2,735 1,509 621 (9)5,706 
Other non-regulated revenue (1)
251 9 75 183 — 518 
Total non-regulated revenue
1,101 2,744 1,584 804 (9)6,224 
Total revenue
$3,248 $2,744 $1,584 $804 $(9)$8,371 
Nine Months Ended September 30, 2020
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers$1,987 $— $— $— $— $1,987 
Other regulated revenue29 — — — — 29 
Total regulated revenue2,016 — — — — 2,016 
Non-Regulated Revenue
Revenue from contracts with customers742 2,267 1,181 461 (7)4,644 
Other non-regulated revenue (1)
187 6 74 173 — 440 
Total non-regulated revenue929 2,273 1,255 634 (7)5,084 
Total revenue$2,945 $2,273 $1,255 $634 $(7)$7,100 
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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 $174 million and $531 million as of September 30, 2021 and December 31, 2020, respectively.
During the nine months ended September 30, 2021 and 2020, we recognized revenue of $410 million and $12 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 was derecognized each month through the end of the remaining performance obligation in August 2021.
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 September 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 September 30, 2021. Of the loan receivable balance, $88 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 September 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.