Financing Receivables

6 Months Ended

Jun. 30, 2023

Receivables with contractual maturities of greater than one year are considered financing receivables. The following table presents financing receivables by country as of the dates indicated (in millions):


	June 30, 2023						December 31, 2022
	Gross Receivable		Allowance		Net Receivable		Gross Receivable		Allowance		Net Receivable
Chile	$	244	$	—	$	244	$	239	$	—	$	239
U.S.	39		—		39		—		—		—



Other	13		—		13		18		—		18
Total	$	296	$	—	$	296	$	257	$	—	$	257

Chile — AES Andes has recorded receivables pertaining to revenues recognized on regulated energy contracts that were impacted by the Stabilization Funds created by the Chilean government in October 2019 and August 2022, in conjunction with the Tariff Stabilization Laws. Historically, the government updated the prices for these contracts every six months to reflect the contracts' indexation to exchange rates and commodities prices. The Tariff Stabilization Laws do not allow the pass-through of these contractual indexation updates to customers beyond the pricing in effect at July 1, 2019, until new lower-cost renewable contracts are incorporated to supply regulated contracts. Consequently, costs incurred in excess of the July 1, 2019 price are accumulated and borne by generators. Through different programs, AES Andes aims to reduce its exposure and has already sold a significant portion of the receivables accumulated as of December 31, 2021.

As of June 30, 2023, $226 million of noncurrent receivables were recorded in Other noncurrent assets pertaining to the Stabilization Funds. Additionally, $18 million of payment deferrals granted to mining customers as part of our green blend agreements were recorded as financing receivables included in Other noncurrent assets at June 30, 2023.