Other Long-Term Liabilities

Other long-term liabilities consist primarily of liabilities related to certain derivative agreements as well as liabilities under agreements related to compliance with certain environmental regulations (see Note 22 — Legal Proceedings — Environmental Agreements). The table below summarizes the types and amounts of Other long-term liabilities:



Other Long-Term Liabilities At September 30
	2015		2014
Interest rate swap liabilities	$	1,627	$	1,348
EnergyRight^®financing obligation	148		152
Environmental agreements liability	55		108
Currency swap liabilities	47		15
Membership interests of VIE subject to mandatory redemption	35		37
Commodity contract derivative liabilities	17		17
Commodity swap derivative liabilities	10		14
Other	280		271
Total other long-term liabilities	$	2,219	$	1,962

EnergyRight^®Purchase Obligation. TVA purchases certain loans receivable from its LPCs in association with the EnergyRight^® Solutions program. Depending on the nature of the energy-efficiency project, loans may have a maximum term of five years or ten years. The loans receivable are then transferred to a third-party bank with which TVA has agreed to repay in full any loan receivable that has been in default for 180 days or more or that TVA has determined is uncollectible. Given this continuing involvement, TVA accounts for the transfer of the loans receivable as secured borrowings. The current and long-term portions of the resulting financing obligation are reported in Accounts payable and accrued liabilities and Other long-term liabilities, respectively, on TVA’s consolidated balance sheets. As of September 30, 2015 and September 30, 2014, the carrying amount of the financing obligation reported in Accounts payable and accrued liabilities was approximately $37 million and $38 million, respectively. See Note 8 for information regarding the associated loans receivable.