v3.26.1
Revenue (Notes)
 6 Months Ended
Jun. 30, 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 June 30, 2026
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers
$849 $23 $1,435 $— $(31)$2,276 
Other non-regulated revenue (1)
90 — 61 — — 151 
Total non-regulated revenue
939 23 1,496 — (31)2,427 
Regulated Revenue
Revenue from contracts with customers
— 987 — — — 987 
Other regulated revenue
— 8 — — — 8 
Total regulated revenue
— 995 — — — 995 
Total revenue
$939 $1,018 $1,496 $— $(31)$3,422 
Three Months Ended June 30, 2025
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$638 $20 $1,236 $— $(49)$1,845 
Other non-regulated revenue (1)
6 1 70 — — 77 
Total non-regulated revenue644 21 1,306 — (49)1,922 
Regulated Revenue
Revenue from contracts with customers— 927 — — — 927 
Other regulated revenue— 6 — — — 6 
Total regulated revenue— 933 — — — 933 
Total revenue$644 $954 $1,306 $— $(49)$2,855 
Six Months Ended June 30, 2026
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers
$1,603 $44 $2,592 $— $(63)$4,176 
Other non-regulated revenue (1)
156 1 160 — — 317 
Total non-regulated revenue
1,759 45 2,752 — (63)4,493 
Regulated Revenue
Revenue from contracts with customers
— 2,092 — — — 2,092 
Other regulated revenue
— 17 — — — 17 
Total regulated revenue
— 2,109 — — — 2,109 
Total revenue
$1,759 $2,154 $2,752 $— $(63)$6,602 
Six Months Ended June 30, 2025
Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUCorporate, Other and EliminationsTotal
Non-Regulated Revenue
Revenue from contracts with customers$1,258 $43 $2,458 $— $(118)$3,641 
Other non-regulated revenue (1)
52 2 168 — — 222 
Total non-regulated revenue1,310 45 2,626 — (118)3,863 
Regulated Revenue
Revenue from contracts with customers— 1,903 — — — 1,903 
Other regulated revenue— 15 — — — 15 
Total regulated revenue— 1,918 — — — 1,918 
Total revenue$1,310 $1,963 $2,626 $— $(118)$5,781 
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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 $246 million and $374 million as of June 30, 2026 and December 31, 2025, respectively.
During the six months ended June 30, 2026 and 2025, we recognized revenue of $162 million and $15 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 June 30, 2026 and December 31, 2025, the loan receivable balance was $806 million and $862 million, respectively. Of these amounts, $96 million and $107 million were classified in Other current assets, and $710 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 June 30, 2026, the aggregate amount of transaction price allocated to remaining performance obligations was $258 million, primarily consisting of fixed consideration in development services contracts in the U.S., of which $120 million has been collected. We expect to recognize revenue of approximately $127 million in the remainder of 2026, $127 million in 2027, and the remainder thereafter