Revenue (Notes)

6 Months Ended

Jun. 30, 2023

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, 2023
	Renewables SBU		Utilities SBU		Energy Infrastructure SBU		New Energy Technologies SBU		Corporate, Other and Eliminations		Total
Non-Regulated Revenue
Revenue from contracts with customers	$	505	$	18	$	1,490	$	—	$	(21)	$	1,992
Other non-regulated revenue (1)	36		—		164		1		—		201
Total non-regulated revenue	541		18		1,654		1		(21)		2,193
Regulated Revenue
Revenue from contracts with customers	—		825		—		—		—		825
Other regulated revenue	—		9		—		—		—		9
Total regulated revenue	—		834		—		—		—		834
Total revenue	$	541	$	852	$	1,654	$	1	$	(21)	$	3,027
	Three Months Ended June 30, 2022
	Renewables SBU		Utilities SBU		Energy Infrastructure SBU		New Energy Technologies SBU		Corporate, Other and Eliminations		Total
Non-Regulated Revenue
Revenue from contracts with customers	$	406	$	18	$	1,676	$	1	$	(20)	$	2,081
Other non-regulated revenue (1)	49		1		144		1		—		195
Total non-regulated revenue	455		19		1,820		2		(20)		2,276
Regulated Revenue
Revenue from contracts with customers	—		794		—		—		—		794
Other regulated revenue	—		8		—		—		—		8
Total regulated revenue	—		802		—		—		—		802
Total revenue	$	455	$	821	$	1,820	$	2	$	(20)	$	3,078

	Six Months Ended June 30, 2023
	Renewables SBU		Utilities SBU		Energy Infrastructure SBU		New Energy Technologies SBU		Corporate, Other and Eliminations		Total
Non-Regulated Revenue
Revenue from contracts with customers	$	982	$	35	$	3,062	$	74	$	(46)	$	4,107
Other non-regulated revenue (1)	54		2		316		1		—		373
Total non-regulated revenue	1,036		37		3,378		75		(46)		4,480
Regulated Revenue
Revenue from contracts with customers	—		1,769		—		—		—		1,769
Other regulated revenue	—		17		—		—		—		17
Total regulated revenue	—		1,786		—		—		—		1,786
Total revenue	$	1,036	$	1,823	$	3,378	$	75	$	(46)	$	6,266
	Six Months Ended June 30, 2022
	Renewables SBU		Utilities SBU		Energy Infrastructure SBU		New Energy Technologies SBU		Corporate, Other and Eliminations		Total
Non-Regulated Revenue
Revenue from contracts with customers	$	831	$	41	$	3,177	$	1	$	(54)	$	3,996
Other non-regulated revenue (1)	44		2		250		1		—		297
Total non-regulated revenue	875		43		3,427		2		(54)		4,293
Regulated Revenue
Revenue from contracts with customers	—		1,622		—		—		—		1,622
Other regulated revenue	—		15		—		—		—		15
Total regulated revenue	—		1,637		—		—		—		1,637
Total revenue	$	875	$	1,680	$	3,427	$	2	$	(54)	$	5,930

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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 $388 million and $337 million as of June 30, 2023 and December 31, 2022, respectively.

During the six months ended June 30, 2023 and 2022, we recognized revenue of $13 million and $32 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods.

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, 2023 and December 31, 2022, the Mong Duong loan receivable had a balance of $1.1 billion, net of CECL reserves of $27 million and $28 million, respectively. Of the loan receivable balance, $102 million and $97 million, respectively, was classified as Other current assets, and $1 billion was classified as Loan receivable on the Condensed Consolidated Balance Sheets.

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, 2023, 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 in long-term contracts in the U.S. We expect to recognize revenue of approximately $1 million per year between 2023 and 2027 and the remainder thereafter