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Debt and Other Obligations Debt and Other Obligations (Tables) | 12 Months Ended
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Sep. 30, 2016
Debt and Other Obligations [Abstract] |
Schedule of short-term borrowings | The following table provides information regarding TVA's short-term borrowings:
| September 30
| 2016 |  | 2015 |  | 2014
Amount outstanding - discount notes | $ | 1,407 |  |  | $ | 1,034 |  |  | $ | 596 |
Weighted average interest rate - discount notes | 0.203 | % |  | 0.055 | % |  | 0.002 | %
Debt Securities Activity | The table below summarizes the long-term debt securities activity for the period from October 1, 2014, to September 30, 2016.
Debt Securities Activity For the years ended September 30
|  | 2016 |  | 2015
Issues |  |  |  |
2015 Series A(1) |  | $ | — |  |  | $ | 1,000 |
Discount on debt issues |  | — |  |  | (27 | )
Total |  | $ | — |  |  | $ | 973 |
Acquisitions |  |  |  |
Notes payable(2) |  | $ | 78 |  |  | $ | — |
Total |  | $ | 78 |  |  | $ | — |
Redemptions/Maturities(3) |  |  |  |
Variable interest entities |  | $ | 33 |  |  | $ | 32 |
Notes payable |  | 3 |  |  | — |
electronotes® |  | 47 |  |  | 62 |
1998 Series D |  | — |  |  | 50 |
1999 Series A |  | — |  |  | 38 |
2005 Series B |  | — |  |  | 1,000 |
2009 Series A |  | 2 |  |  | 3 |
2009 Series B |  | 27 |  |  | 27 |
Total |  | $ | 112 |  |  | $ | 1,212 |
Notes (1) The 2015 Series A bonds were issued at 97.31 percent of par. (2) The related leaseback obligation of $70 million previously reported in Other liabilities in TVA's consolidated balance sheets was extinguished in the fourth quarter of 2016 as a result of the acquisition. See Note 8 for additional information. (3) All redemptions were at 100 percent of par.
Debt Outstanding | Total debt outstanding at September 30, 2016, and 2015, consisted of the following:
Short-Term Debt At September 30
CUSIP or Other Identifier |  | Maturity |  | Call/(Put) Date |  | Coupon Rate |  | 2016 |  | 2015
Short-term debt, net of discounts |  |  |  |  |  |  |  | $ | 1,407 |  |  | $ | 1,034 |
Current maturities of long-term debt of variable interest entities issued at par |  |  |  |  |  |  |  | 35 |  |  | 33 |
Current maturities of notes payable |  |  |  |  |  |  |  | 27 |  |  | — |
Current maturities of power bonds issued at par |  |  |  |  |  |  |  |  |  |
880591EE8 |  | 11/15/2015 |  |  |  | 2.250% |  | — |  |  | 2 |
880591EF5 |  | 12/15/2016 |  |  |  | 3.770% |  | 28 |  |  | 27 |
88059TEL1 |  | 11/15/2016 |  |  |  | 2.650% |  | 3 |  |  | 3 |
880591DS8 |  | 12/15/2016 |  |  |  | 4.875% |  | 524 |  |  | — |
880591EA6 |  | 7/18/2017 |  |  |  | 5.500% |  | 1,000 |  |  | — |
Total current maturities of power bonds issued at par |  |  |  |  |  |  |  | 1,555 |  |  | 32 |
Total current debt outstanding, net |  |  |  |  |  |  |  | $ | 3,024 |  |  | $ | 1,099 |
Long-Term Debt(1) At September 30
CUSIP or Other Identifier |  | Maturity |  | Coupon Rate |  | Call Date |  | 2016 Par |  | 2015 Par |  | Stock Exchange Listings
electronotes®(2) |  | 05/15/2020 - 02/15/2043 |  | 2.375 - 4.375% |  | 2/15/2015 - 02/15/2018 |  | $ | 278 |  |  | $ | 325 |  |  | None
880591DS8 |  | 12/15/2016 |  | 4.875% |  |  |  | — |  |  | 524 |  |  | New York
880591EA6 |  | 7/18/2017 |  | 5.500% |  |  |  | — |  |  | 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% | (3) |  |  | 260 |  |  | 303 |  |  | 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(4) |  | 6/1/2028 |  | 3.550% |  |  |  | 273 |  |  | 274 |  |  | New York
880591409(4) |  | 5/1/2029 |  | 3.360% |  |  |  | 232 |  |  | 232 |  |  | New York
880591DM1 |  | 5/1/2030 |  | 7.125% |  |  |  | 1,000 |  |  | 1,000 |  |  | New York, Luxembourg
880591DP4 |  | 6/7/2032 |  | 6.587% | (3) |  |  | 324 |  |  | 378 |  |  | New York, Luxembourg
880591DV1 |  | 7/15/2033 |  | 4.700% |  |  |  | 472 |  |  | 472 |  |  | New York, Luxembourg
880591EF5(5) |  | 6/15/2034 |  | 3.770% |  |  |  | 332 |  |  | 360 |  |  | 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% | (3) |  |  | 195 |  |  | 227 |  |  | 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 |  |  | 1,000 |  |  | New York
Subtotal |  |  |  |  |  |  |  | 21,063 |  |  | 22,792 |  |  |
Unamortized discounts, premiums, issue costs, and other |  |  |  |  |  |  |  | (162 | ) |  | (175 | ) |  |
Total long-term outstanding power bonds, net |  |  |  |  |  |  |  | 20,901 |  |  | 22,617 |  |  |
Long-term debt of variable interest entities, net |  |  |  |  |  |  |  | 1,199 |  |  | 1,233 |  |  |
Long-term notes payable |  |  |  |  |  |  |  | 48 |  |  | — |  |  |
Total long-term debt, net |  |  |  |  |  |  |  | $ | 22,148 |  |  | $ | 23,850 |  |  |
Notes (1) Includes net exchange gain (loss) from currency transactions of $150 million at September 30, 2016 and $21 million at September 30, 2015. (2) Includes one electronotes® issue (88059TEL1) with partial maturities of principal for each required annual payment. (3) The coupon rate represents TVA’s effective interest rate. (4) TVA PARRS, CUSIP numbers 880591300 and 880591409, may be redeemed under certain conditions. See Put and Call Options above. (5) These Bonds include partial maturities of principal for each required annual payment.
Maturities Due in the Year Ending September 30 |
Maturities Due in the Year Ending September 30
| 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | Thereafter |  | Total
Long-term power bonds, long-term debt of variable interest entities and notes payable including current maturities(1) | $ | 1,617 |  |  | $ | 1,745 |  |  | $ | 1,091 |  |  | $ | 70 |  |  | $ | 1,901 |  |  | $ | 17,665 |  |  | $ | 24,089 |
Short-term debt, net of discounts | 1,407 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,407 |
Note (1) Long-term power bonds does not include noncash items of foreign currency exchange gain of $150 million, unamortized debt issue costs of $62 million, and net discount on sale of Bonds of $100 million. Debt of VIEs does not include noncash item of unamortized debt issue costs of $12 million.
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, 2016 (in billions)
Maturity Date | Facility Limit |  | Letters of Credit Outstanding |  | Cash Borrowings |  | Availability
February 2020 | $ | 0.5 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | — |
June 2020 | 1.0 |  |  | 0.4 |  |  | — |  |  | 0.6 |
September 2020 | 1.0 |  |  | 0.5 |  |  | — |  |  | 0.5 |
Total | $ | 2.5 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 1.1 |

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