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Revenue (Notes)
 3 Months Ended
Mar. 31, 2022
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, 2022
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$828 $— $— $— $— $828 
Other regulated revenue
7 — — — — 7 
Total regulated revenue
835 — — — — 835 
Non-Regulated Revenue
Revenue from contracts with customers
269 805 541 309 (9)1,915 
Other non-regulated revenue (1)
13 5 25 59 — 102 
Total non-regulated revenue
282 810 566 368 (9)2,017 
Total revenue
$1,117 $810 $566 $368 $(9)$2,852 
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 revenue9 — — — — 9 
Total regulated revenue707 — — — — 707 
Non-Regulated Revenue
Revenue from contracts with customers224 883 510 209 (3)1,823 
Other non-regulated revenue (1)
18 1 25 61 — 105 
Total non-regulated revenue242 884 535 270 (3)1,928 
Total revenue$949 $884 $535 $270 $(3)$2,635 
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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 $235 million and $216 million as of March 31, 2022 and December 31, 2021, respectively.
During the three months ended March 31, 2022 and 2021, we recognized revenue of $30 million and $183 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. Contract consideration related to the construction, but not yet collected through the 25 year PPA, was reflected on the Condensed Consolidated Balance Sheet. As of March 31, 2022 and December 31, 2021, Mong Duong met the held-for-sale criteria and the loan receivable balance of approximately $1.2 billion net of CECL reserve of $30 million was classified as held-for-sale assets. Of the loan receivable balance, $93 million and $91 million was classified as Current held-for-sale assets, respectively, and $1.1 billion was classified as Noncurrent held-for-sale assets.
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, 2022, the aggregate amount of transaction price allocated to remaining performance obligations was $9 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.