Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2014

The table below summarizes the long-term debt securities activity for the period from October 1, 2012, to September 30, 2014.



Debt Securities Activity For the years ended September 30
	2014			2013
Issues
Variable interest entities	$	—		$	360
electronotes^®	—			152
2012 Series B⁽¹⁾	—			1,000
2013 Series A⁽²⁾	—			1,000
2014 Series A⁽³⁾	1,000			—
Discount on debt issues	(11		)	(30		)
Total	$	989		$	2,482

Redemptions/Maturities⁽⁴⁾
Variable interest entities	$	30		$	13
electronotes^®	335			50
1998 Series C	—			1,359
1998 Series D	—			2
1999 Series A	—			1
2003 Series C	—			940
2009 Series A	4			4
2009 Series B	26			2
Total	$	395		$	2,371

Notes

(1) The 2012 Series B bonds were issued at 97.49 percent of par.

(2) The 2013 Series A bonds were issued at 99.52 percent of par.

(3) The 2014 Series A bonds were issued at 98.94 percent of par.

(4) All redemptions were at 100 percent of par.

Total debt outstanding at September 30, 2014, and 2013, consisted of the following:



Short-Term Debt At September 30
CUSIP or Other Identifier	Maturity	Call/(Put) Date	Coupon Rate	2014		2013
Short-term debt, net of discounts				$	596	$	2,432
Current maturities of long-term debt of variable interest entities issued at par				32		30
Current maturities of power bonds issued at par
880591EE8	11/15/2014		2.250%	3		3
880591EF5	12/15/2014		3.770%	26		26
880591DY5	6/15/2015		4.375%	1,000		—
88059TEL1	11/15/2014		2.650%	3		3
Total current maturities of power bonds issued at par				1,032		32
Total current debt outstanding, net				$	1,660	$	2,494



Long-Term Debt⁽¹⁾ At September 30
CUSIP or Other Identifier	Maturity	Coupon Rate			Call Date	2014 Par		2013 Par		Stock Exchange Listings
electronotes^®(2)	05/15/2020 - 02/15/2043	2.375 - 4.375%			2/15/2015 - 02/15/2018	$	387	$	723	None
880591DY5	6/15/2015	4.375%				—		1,000		New York, Luxembourg
880591EE8⁽³⁾	11/15/2015	2.250%				2		4		None
880591DS8	12/15/2016	4.875%				524		524		New York
880591EA6	7/18/2017	5.500%				1,000		1,000		New York, Luxembourg
880591CU4	12/15/2017	6.250%				650		650		New York
880591EC2	4/1/2018	4.500%				1,000		1,000		New York, Luxembourg
880591EQ1	10/15/2018	1.750%				1,000		1,000		New York
880591EL2	2/15/2021	3.875%				1,500		1,500		New York
880591DC3	6/7/2021	5.805%	⁽⁴	⁾		324		324		New York, Luxembourg
880591EN8	8/15/2022	1.875%				1,000		1,000		New York
880591ER9	9/15/2024	2.875%				1,000		—		New York
880591CJ9	11/1/2025	6.750%				1,350		1,350		New York, Hong Kong, Luxembourg, Singapore
880591300⁽⁵⁾	6/1/2028	3.830%				324		324		New York
880591409⁽⁵⁾	5/1/2029	3.955%				270		270		New York
880591DM1	5/1/2030	7.125%				1,000		1,000		New York, Luxembourg



880591DP4	6/7/2032	6.587%	⁽⁴	⁾		406			405			New York, Luxembourg
880591DV1	7/15/2033	4.700%				472			472			New York, Luxembourg
880591EF5⁽³⁾	6/15/2034	3.770%				388			414			None
880591DX7	6/15/2035	4.650%				436			436			New York
880591CK6	4/1/2036	5.980%				121			121			New York
880591CS9	4/1/2036	5.880%				1,500			1,500			New York
880591CP5	1/15/2038	6.150%				1,000			1,000			New York
880591ED0	6/15/2038	5.500%				500			500			New York
880591EH1	9/15/2039	5.250%				2,000			2,000			New York
880591EP3	12/15/2042	3.500%				1,000			1,000			New York
880591DU3	6/7/2043	4.962%	⁽⁴	⁾		243			243			New York, Luxembourg
880591CF7	7/15/2045	6.235%			7/15/2020	140			140			New York
880591EB4	1/15/2048	4.875%				500			500			New York, Luxembourg
880591DZ2	4/1/2056	5.375%				1,000			1,000			New York
880591EJ7	9/15/2060	4.625%				1,000			1,000			New York
Subtotal						22,037			22,400
Unamortized discounts, premiums, and other						(89		)	(85		)
Total long-term outstanding power bonds, net						21,948			22,315
Long-term debt of variable interest entities						1,279			1,311
Total long-term debt, net						$	23,227		$	23,626

Notes

(1) Includes net exchange losses from currency transactions of $44 million at September 30, 2014 and $43 million at September 30, 2013.

(2) Includes one electronotes^® issue with partial maturities of principal for each required annual payment.

(3) These Bonds include partial maturities of principal for each required annual payment.

(4) The coupon rate represents TVA’s effective interest rate.

(5) TVA PARRS, CUSIP numbers 880591300 and 880591409, may be redeemed under certain conditions. See Put and Call Options.



Maturities Due in the Year Ending September 30
	2015		2016		2017		2018		2019		Thereafter		Total
Long-term power bonds and long-term debt of variable interest entities including current maturities⁽¹⁾	$	1,064	$	65	$	1,590	$	1,718	$	1,070	$	18,829	$	24,336
Short-term debt, net of discounts	596		—		—		—		—		—		596

Note

(1) Does not include noncash items of foreign currency exchange loss of $44 million and net discount on sale of Bonds of $89 million.