v3.26.1
Revenue (Notes)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers
$754 $21 $1,157 $— $(32)$1,900 
Other non-regulated revenue (1)
66 1 99 — — 166 
Total non-regulated revenue
820 22 1,256 — (32)2,066 
Regulated Revenue
Revenue from contracts with customers
— 1,105 — — — 1,105 
Other regulated revenue
— 9 — — — 9 
Total regulated revenue
— 1,114 — — — 1,114 
Total revenue
$820 $1,136 $1,256 $— $(32)$3,180 
Three Months Ended March 31, 2025
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$620 $23 $1,222 $— $(69)$1,796 
Other non-regulated revenue (1)
46 1 98 — — 145 
Total non-regulated revenue666 24 1,320 — (69)1,941 
Regulated Revenue
Revenue from contracts with customers— 976 — — — 976 
Other regulated revenue— 9 — — — 9 
Total regulated revenue— 985 — — — 985 
Total revenue$666 $1,009 $1,320 $— $(69)$2,926 
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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 $324 million and $374 million as of March 31, 2026 and December 31, 2025, respectively.
During the three months ended March 31, 2026 and 2025, we recognized revenue of $85 million and $7 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 BOT contract and sold to the Vietnamese government, while we remain the operator for the duration of the 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 March 31, 2026 and December 31, 2025, the loan receivable balance was $831 million and $862 million, respectively. Of these amounts, $101 million and $107 million were classified in Other current assets, and $730 million and $755 million in Loan receivable on the Condensed Consolidated Balance Sheets, respectively.
Remaining Performance Obligations — The transaction price allocated to remaining performance obligations represents future revenue for unsatisfied (or partially unsatisfied) performance obligations at the end of the reporting period. As of March 31, 2026, the aggregate amount of transaction price allocated to remaining performance obligations was $322 million, primarily consisting of fixed consideration in development services contracts in the U.S., of which $183 million has been collected. We expect to recognize revenue of approximately $190 million in the remainder of 2026, $127 million in 2027, and the remainder thereafter