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Revenue (Notes)
 3 Months Ended
Jun. 30, 2024
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, 2024
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers
$546 $23 $1,311 $— $(19)$1,861 
Other non-regulated revenue (1)
50 1 158 — — 209 
Total non-regulated revenue
596 24 1,469 — (19)2,070 
Regulated Revenue
Revenue from contracts with customers
— 865 — — — 865 
Other regulated revenue
— 7 — — — 7 
Total regulated revenue
— 872 — — — 872 
Total revenue
$596 $896 $1,469 $— $(19)$2,942 
Three Months Ended June 30, 2023
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
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 revenue541 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 
Six Months Ended June 30, 2024
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers
$1,116 $42 $2,718 $— $(40)$3,836 
Other non-regulated revenue (1)
99 2 365 — — 466 
Total non-regulated revenue
1,215 44 3,083 — (40)4,302 
Regulated Revenue
Revenue from contracts with customers
— 1,712 — — — 1,712 
Other regulated revenue
— 13 — — — 13 
Total regulated revenue
— 1,725 — — — 1,725 
Total revenue
$1,215 $1,769 $3,083 $— $(40)$6,027 
Six Months Ended June 30, 2023
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
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 revenue1,036 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 
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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 $184 million and $328 million as of June 30, 2024 and December 31, 2023, respectively.
During the six months ended June 30, 2024 and 2023, we recognized revenue of $70 million and $13 million, respectively, that was included in the corresponding contract liability balance at the beginning of the periods.
In June 2023, the Company closed on an agreement to terminate the PPA for the Warrior Run coal-fired power plant for total consideration of $357 million, to be paid by the offtaker through the end of the previous contract term in January 2030. Under the termination agreement, the plant continued providing capacity through May 2024. The termination represented a contract modification under which the discounted termination payments, as well as a pre-existing contract liability, were recognized as revenue on a straight-line basis over the remaining performance obligation period for approximately $32 million per month. On February 1, 2024, the Company executed a receivable sale agreement to transfer all of its rights, title, and interest in the remaining future cash flows under this agreement. At the time of execution, the transaction was considered a sale of future revenue under U.S. GAAP, and as such, the net proceeds of $273 million were recorded as debt. Upon completion of the remaining performance obligation in May 2024, the corresponding receivable balance of $267 million, net of valuation allowance of $7 million, and the remaining debt balance of $260 million were derecognized.
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, 2024 and December 31, 2023, Mong Duong met the held-for-sale criteria and the loan receivable balance of $1 billion and $1.1 billion, net of CECL reserves of $25 million and $26 million, respectively, was classified as held-for-sale assets. Of the loan receivable balance, $114 million and $108 million, respectively, was classified as Current held-for-sale assets, and $904 million and $962 million, respectively, was classified as Noncurrent held-for-sale assets 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, 2024, the aggregate amount of transaction price allocated to remaining performance obligations was $8 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 2024 and 2028 and the remainder thereafter