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Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
Jun. 30, 2015
Sep. 30, 2014
Investments    
Equity securities $ 181 $ 162
Debt Instruments [Abstract]    
U.S. government corporations and agencies 66 85
Corporate debt securities 336 290
Residential mortgage-backed securities 16 14
Commercial mortgage-backed securities 5 7
Collateralized debt obligations 29 29
Private partnerships 238 214
Commingled funds    
Equity security commingled funds 986 [1] 943 [2]
Debt security commingled funds 222 [1] 237 [2]
Total investments 2,079 1,981
Currency swap(s) [3] 61 0
Commodity contract derivatives 3 1
Commodity derivatives under FTP    
Swap contracts [3] 0 0
Total 2,143 1,982
Liabilities    
Currency swap(s) [3] 23 15
Derivative Liability, Fair Value, Gross Liability 1,622 1,517
Interest rate swaps 1,419 1,348
Commodity contract derivatives 128 97
Commodity derivatives under FTP    
Swap contracts [3] 34 34
Total 1,604 1,494
Fair Value, Inputs, Level 1    
Investments    
Equity securities 181 162
Debt Instruments [Abstract]    
U.S. government corporations and agencies 59 46
Corporate debt securities 0 0
Residential mortgage-backed securities 0 0
Commercial mortgage-backed securities 0 0
Collateralized debt obligations 0 0
Private partnerships 0 0
Commingled funds    
Equity security commingled funds 44 [1] 40 [2]
Debt security commingled funds 44 [1] 61 [2]
Total investments 328 309
Currency swap(s) [3] 0 0
Commodity contract derivatives 0 0
Commodity derivatives under FTP    
Swap contracts [3] 0 0
Total 328 309
Liabilities    
Currency swap(s) [3] 0 0
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Commodity derivatives under FTP    
Swap contracts [3] 0 0
Total 0 0
Fair Value, Inputs, Level 2    
Investments    
Equity securities 0 0
Debt Instruments [Abstract]    
U.S. government corporations and agencies 7 39
Corporate debt securities 336 290
Residential mortgage-backed securities 16 14
Commercial mortgage-backed securities 5 7
Collateralized debt obligations 29 29
Private partnerships 0 0
Commingled funds    
Equity security commingled funds 942 [1] 903 [2]
Debt security commingled funds 178 [1] 176 [2]
Total investments 1,513 1,458
Currency swap(s) 61 [3] 0 [4]
Commodity contract derivatives 0 0
Commodity derivatives under FTP    
Swap contracts 0 [3] 0 [4]
Total 1,574 1,458
Liabilities    
Currency swap(s) [3] 23 15
Interest rate swaps 1,419 1,348
Commodity contract derivatives 0 0
Commodity derivatives under FTP    
Swap contracts 34 [3] 34 [4]
Total 1,476 1,397
Fair Value, Inputs, Level 3    
Investments    
Equity securities 0 0
Debt Instruments [Abstract]    
U.S. government corporations and agencies 0 0
Corporate debt securities 0 0
Residential mortgage-backed securities 0 0
Commercial mortgage-backed securities 0 0
Collateralized debt obligations 0 0
Private partnerships 238 214
Commingled funds    
Equity security commingled funds 0 [1] 0 [2]
Debt security commingled funds 0 [1] 0 [2]
Total investments 238 214
Currency swap(s) [3] 0 0
Commodity contract derivatives 3 1
Commodity derivatives under FTP    
Swap contracts [3] 0 0
Total 241 215
Liabilities    
Currency swap(s) [3] 0 0
Interest rate swaps 0 0
Commodity contract derivatives 128 97
Commodity derivatives under FTP    
Swap contracts [3] 0 0
Total 128 97
Currency Swap [Member]    
Liabilities    
Derivative Liability, Fair Value, Gross Liability [5] $ 23 $ 15
[1] Commingled funds represent investment funds comprising multiple individual financial instruments and are classified in the table based on their existing investment portfolio as of the measurement date. Commingled funds primarily composed of one class of security are classified in that category.
[2] Commingled funds represent investment funds comprising multiple individual financial instruments and are classified in the table based on their existing investment portfolio as of the measurement date. Commingled funds primarily composed of one class of security are classified in that category.
[3] Due to the right of setoff and method of settlement, TVA elects to record commodity derivatives under the FTP based on its net commodity position with the counterparty or FCM. Deposits are made to TVA's margin cash accounts held with each FCM to offset any net liability positions in full for derivatives that are transacted with FCMs. TVA records currency swaps net of any cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities. See Note 15 — Offsetting of Derivative Assets and Liabilities.
[4] Due to the right of setoff and method of settlement, TVA elects to record commodity derivatives under the FTP based on its net commodity position with the counterparty or FCM. Deposits are made to TVA's margin cash accounts held with each FCM to offset any net liability positions in full for derivatives that are transacted with FCMs. TVA records currency swaps net of any cash collateral received from or paid to the counterparty. See Note 15 — Offsetting of Derivative Assets and Liabilities.
[5] Letters of credit of approximately $1.1 billion and $1.0 billion were posted as collateral at June 30, 2015 and September 30, 2014, respectively, to partially secure the liability positions of one of the currency swaps and one of the interest rate swaps in accordance with the collateral requirements for these derivatives. At June 30, 2015, TVA held no cash collateral in excess of collateral requirements and at September 30, 2014, TVA held $19 million of cash collateral in excess of collateral requirements that was classified in Restricted cash and investments with a corresponding obligation recorded in Accounts payable and accrued liabilities in the same amount.