XML 78 R37.htm IDEA: XBRL DOCUMENT v3.24.0.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Certain of our businesses in Panama and the Dominican Republic are partially owned by governments either directly or through state-owned institutions. In the ordinary course of business, these businesses enter into energy purchase and sale transactions, and transmission agreements with other state-owned institutions which are controlled by such governments. At two of our generation businesses in Mexico, the offtakers exercise significant influence, but not control, through representation on these businesses' Boards of Directors. These offtakers are also required to hold a nominal ownership interest in such businesses. Furthermore, in 2021, the Company began construction projects with Fluence relating to energy storage. These related party transactions primarily present themselves as construction in progress, as seen below. Additionally, the Company provides certain support and management services to several of its affiliates under various agreements.
The Company's Consolidated Statements of Operations included the following transactions with related parties for the periods indicated (in millions):
Years Ended December 31, 202320222021
Revenue—Non-Regulated$1,055 $1,093 $1,159 
Cost of Sales—Non-Regulated576 352 324 
Interest income9 10 12 
Interest expense36 95 88 
The following table summarizes the balances that relate to related party transactions for balance sheet accounts included in the Company's Consolidated Balance Sheets as of the periods indicated (in millions):
December 31,20232022
Receivables from related parties$584 $484 
Accounts and notes payable to related parties (1)
1,411 1,264 
Construction in progress464 714 
_____________________________
(1)Includes $639 million and $756 million of debt to Mong Duong Finance Holdings B.V., as of December 31, 2023 and 2022, respectively. Mong Duong was classified as held-for-sale in December 2023 (see Note 11—Debt).