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Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2015

Debt and Other Obligations [Abstract]

Summary of Long-Term Credit Facilities

The following table provides additional information regarding TVA's funding available in the form of three long-term revolving credit facilities:

Summary of Long-Term Credit Facilities At September 30, 2015 (in billions)
Maturity Date	Facility Limit				Letters of Credit Outstanding				Cash Borrowings				Availability
February 2020	$	0.5			$	0.5			$	—			$	—
June 2020	1.0				0.3				—				0.7
September 2020	1.0				0.3				—				0.7
Total	$	2.5			$	1.1			$	—			$	1.4

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the period from October 1, 2013, to September 30, 2015.

Debt Securities Activity For the years ended September 30
		2015				2014
Issues
2014 Series A(1)		—				1,000
2015 Series A(2)		1,000				—
Discount on debt issues		(27		)		(11		)
Total		$	973			$	989
Redemptions/Maturities(3)
Variable interest entities		$	32			$	30
electronotes®		62				335
1998 Series D		50				—
1999 Series A		38				—
2005 Series B		1,000				—
2009 Series A		3				4
2009 Series B		27				26
Total		$	1,212			$	395

Notes

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

(2) The 2015 Series A bonds were issued at 97.31 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2015, and 2014, consisted of the following:

Short-Term Debt At September 30
CUSIP or Other Identifier		Maturity		Call/(Put) Date		Coupon Rate		2015				2014
Short-term debt, net of discounts								$	1,034			$	596
Current maturities of long-term debt of variable interest entities issued at par								33				32
Current maturities of power bonds issued at par
880591EE8		11/15/2015				2.250%		2				3
880591EF5		12/15/2015				3.770%		27				26
880591DY5		6/15/2015				4.375%		—				1,000
88059TEL1		11/15/2015				2.650%		3				3
Total current maturities of power bonds issued at par								32				1,032
Total current debt outstanding, net								$	1,099			$	1,660

Long-Term Debt(1) At September 30
CUSIP or Other Identifier		Maturity		Coupon Rate			Call Date		2015 Par				2014 Par				Stock Exchange Listings
electronotes®(2)		05/15/2020 - 02/15/2043		2.375 - 4.375%			2/15/2015 - 02/15/2018		$	325			$	387			None
880591EE8(3)		11/15/2015		2.250%					—				2				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)			303				324				New York, Luxembourg
880591EN8		8/15/2022		1.875%					1,000				1,000				New York
880591ER9		9/15/2024		2.875%					1,000				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		3.550%					274				324				New York
880591409(5)		5/1/2029		3.360%					232				270				New York
880591DM1		5/1/2030		7.125%					1,000				1,000				New York, Luxembourg
880591DP4		6/7/2032		6.587%		(4)			378				406				New York, Luxembourg
880591DV1		7/15/2033		4.700%					472				472				New York, Luxembourg
880591EF5(3)		6/15/2034		3.770%					360				388				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)			227				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
880591ES7		9/15/2065		4.250%					1,000				—				New York
Subtotal									22,792				22,037

Unamortized discounts, premiums, and other									(108		)		(89		)
Total long-term outstanding power bonds, net									22,684				21,948
Long-term debt of variable interest entities									1,246				1,279
Total long-term debt, net									$	23,930			$	23,227

Notes

(1)  Includes net exchange gain (loss) from currency transactions of $21 million at September 30, 2015 and $(44) million at September 30, 2014.

(2)  Includes one electronotes^® issue (88059TEL1) 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 above.

Maturities Due in the Year Ending September 30

Maturities Due in the Year Ending September 30
	2016				2017				2018				2019				2020				Thereafter				Total
Long-term power bonds and long-term debt of variable interest entities including current maturities(1)	$	65			$	1,590			$	1,718			$	1,070			$	70			$	19,611			$	24,124
Short-term debt, net of discounts	1,034				—				—				—				—				—				1,034

Note

(1) Does not include noncash items of foreign currency exchange gain of $21 million and net discount on sale of Bonds of $108 million.

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