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Revenue (Notes)
 12 Months Ended
Dec. 31, 2024
Revenue [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):
Year Ended December 31, 2024
Renewables SBUUtilities SBUEnergy Infrastructure SBU
New Energy Technologies SBU
Corporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$2,294 $82 $5,543 $1 $(78)$7,842 
Other non-regulated revenue (1)
216 4 695 — (1)914 
Total non-regulated revenue2,510 86 6,238 1 (79)8,756 
Regulated Revenue
Revenue from contracts with customers— 3,496 — — — 3,496 
Other regulated revenue— 26 — — — 26 
Total regulated revenue— 3,522 — — — 3,522 
Total revenue$2,510 $3,608 $6,238 $1 $(79)$12,278 
Year Ended December 31, 2023
Renewables SBUUtilities SBUEnergy Infrastructure SBU
New Energy Technologies SBU
Corporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$2,198 $68 $6,181 $75 $(77)$8,445 
Other non-regulated revenue (1)
141 4 655 1 (1)800 
Total non-regulated revenue2,339 72 6,836 76 (78)9,245 
Regulated Revenue
Revenue from contracts with customers— 3,391 — — — 3,391 
Other regulated revenue— 32 — — — 32 
Total regulated revenue— 3,423 — — — 3,423 
Total revenue$2,339 $3,495 $6,836 $76 $(78)$12,668 
Year Ended December 31, 2022
Renewables SBUUtilities SBUEnergy Infrastructure SBU
New Energy Technologies SBU
Corporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$1,791 $75 $6,871 $1 $(100)$8,638 
Other non-regulated revenue (1)
102 4 333 2 — 441 
Total non-regulated revenue1,893 79 7,204 3 (100)9,079 
Regulated Revenue
Revenue from contracts with customers— 3,507 — — — 3,507 
Other regulated revenue— 31 — — — 31 
Total regulated revenue— 3,538 — — — 3,538 
Total revenue$1,893 $3,617 $7,204 $3 $(100)$12,617 
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(1)Other non-regulated revenue primarily includes lease and derivative activity 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 $237 million and $328 million as of December 31, 2024 and December 31, 2023, respectively.
During the years ended December 31, 2024 and 2023, we recognized revenue of $79 million and $70 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 provided 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 upon accounting for the transaction as a sale of receivables.
A significant financing arrangement exists for our Mong Duong plant in Vietnam. The plant was constructed under a BOT 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 Consolidated Balance Sheet. As of December 31, 2024 and December 31, 2023, Mong Duong met the held-for-sale criteria and the loan receivable balance of $963 million and $1.1 billion, net of CECL reserve of $23 million and $26 million, respectively, was classified as held-for-sale assets. Of the loan receivable balance, $121 million and $108 million, respectively, was classified in Current held-for-sale assets, and $842 million and $962 million, respectively, was classified in Noncurrent held-for-sale assets on the Consolidated Balance Sheet. See Note 25—Held-for-Sale and Dispositions for further information.
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 December 31, 2024, the aggregate amount of transaction price allocated to remaining performance obligations was $7 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 of approximately $1 million per year between 2025 and 2029, and the remainder thereafter.