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Revenue (Notes)
 6 Months Ended
Jun. 30, 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 June 30, 2022
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$794 $— $— $— $— $794 
Other regulated revenue
8 — — — — 8 
Total regulated revenue
802 — — — — 802 
Non-Regulated Revenue
Revenue from contracts with customers
281 877 662 266 (3)2,083 
Other non-regulated revenue (1)
114 3 24 52 — 193 
Total non-regulated revenue
395 880 686 318 (3)2,276 
Total revenue
$1,197 $880 $686 $318 $(3)$3,078 
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 revenue12 — — — — 12 
Total regulated revenue671 — — — — 671 
Non-Regulated Revenue
Revenue from contracts with customers232 959 465 215 (3)1,868 
Other non-regulated revenue (1)
69 5 25 62 — 161 
Total non-regulated revenue301 964 490 277 (3)2,029 
Total revenue$972 $964 $490 $277 $(3)$2,700 
Six Months Ended June 30, 2022
US and Utilities SBUSouth America SBUMCAC SBUEurasia SBUCorporate, Other and EliminationsTotal
Regulated Revenue
Revenue from contracts with customers
$1,622 $— $— $— $— $1,622 
Other regulated revenue
15 — — — — 15 
Total regulated revenue
1,637 — — — — 1,637 
Non-Regulated Revenue
Revenue from contracts with customers
550 1,682 1,203 575 (12)3,998 
Other non-regulated revenue (1)
127 8 49 111 — 295 
Total non-regulated revenue
677 1,690 1,252 686 (12)4,293 
Total revenue
$2,314 $1,690 $1,252 $686 $(12)$5,930 
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 revenue21 — — — — 21 
Total regulated revenue1,378 — — — — 1,378 
Non-Regulated Revenue
Revenue from contracts with customers456 1,842 975 424 (6)3,691 
Other non-regulated revenue (1)
87 6 50 123 — 266 
Total non-regulated revenue543 1,848 1,025 547 (6)3,957 
Total revenue$1,921 $1,848 $1,025 $547 $(6)$5,335 
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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 $265 million and $216 million as of June 30, 2022 and December 31, 2021, respectively.
During the six months ended June 30, 2022 and 2021, we recognized revenue of $32 million and $355 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 June 30, 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 $29 million and $30 million, respectively, was classified as held-for-sale assets. Of the loan receivable balance, $95 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 June 30, 2022, 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.