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Unaudited Quarterly Financial Information
12 Months Ended
Sep. 30, 2011
Quarterly Financial Information Disclosure [Abstract] 
Unaudited Quarterly Financial Information
Unaudited Quarterly Financial Information

A summary of the unaudited quarterly results of operations for the years 2011 and 2010 follows.  This summary should be read in conjunction with the audited financial statements appearing herein.  Results for interim periods may fluctuate as a result of seasonal weather conditions, changes in rates, and other factors.
Unaudited Quarterly Financial Information
2011
 
First
 
Second
 
Third
 
Fourth
 
Total
Operating revenues
$
2,828

 
$
2,968

 
$
2,657

 
$
3,388

 
$
11,841

Operating expenses
2,558

 
2,401

 
2,575

 
2,870

 
10,404

Operating income
270

 
567

 
82

 
518

 
1,437

Net income (loss)
(48
)
 
253

 
(240
)
 
197

 
162

2010
 
First
 
Second
 
Third
 
Fourth
 
Total
Operating revenues
$
2,349

 
$
2,622

 
$
2,587

 
$
3,316

 
$
10,874

Operating expenses
1,878

 
1,875

 
2,073

 
2,806

 
8,632

Operating income
471

 
747

 
514

 
510

 
2,242

Net income (loss)
150

 
430

 
199

 
193

 
972


TVA experienced an increase in pension and post-retirement expense, higher operating and maintenance expenses, and an increase in expenses related to outages at nuclear and coal-fired plants which negatively affected the results of the first three quarters of 2011.  The majority of the change in quarterly net income during 2011 occurred during the third quarter.  This change is primarily due to an increase in expenses related to the repair of significant damage and purchase of replacement power necessitated by the series of storms on April 27, 2011, and April 28, 2011.