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Fair Value Measurements Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015
--- | --- | ---
Investments |  |  |  |
Equity securities | $ 185 |  | $ 166 |
Debt Instruments |  |  |  |
U.S. government corporations and agencies | 239 |  | 234 |
Corporate debt securities | 254 |  | 225 |
Residential mortgage-backed securities | 16 |  | 17 |
Commercial mortgage-backed securities | 5 |  | 7 |
Collateralized debt obligations | 28 |  | 29 |
Institutional mutual funds | 88 |  | 91 |
Forward debt securities contracts | (8) |  | (59) |
Private partnerships measured at net asset value | 245 | [1] | 240 | [2]
Commingled funds measured at net asset value | 1,031 | [1] | 1,061 | [2]
Total investments | 2,083 |  | 2,011 |
Currency swap(s) | 9 | [3] | 25 | [4]
Commodity contract derivatives | 4 |  | 1 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | 2,096 |  | 2,037 |
Liabilities |  |  |  |
Currency swap(s) | 58 | [3] | 47 | [4]
Interest rate swaps | 1,538 |  | 1,627 |
Commodity contract derivatives | 142 |  | 98 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 21 | [3] | 27 | [4]
Total | 1,759 |  | 1,799 |
Fair Value, Inputs, Level 1 |  |  |  |
Investments |  |  |  |
Equity securities | 185 |  | 166 |
Debt Instruments |  |  |  |
U.S. government corporations and agencies | 200 |  | 203 |
Corporate debt securities | 0 |  | 0 |
Residential mortgage-backed securities | 0 |  | 0 |
Commercial mortgage-backed securities | 0 |  | 0 |
Collateralized debt obligations | 0 |  | 0 |
Institutional mutual funds | 88 |  | 91 |
Forward debt securities contracts | 0 |  | 0 |
Private partnerships measured at net asset value | 0 | [1] | 0 | [2]
Commingled funds measured at net asset value | 0 | [1] | 0 | [2]
Total investments | 473 |  | 460 |
Currency swap(s) | 0 | [3] | 0 | [4]
Commodity contract derivatives | 0 |  | 0 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | 473 |  | 460 |
Liabilities |  |  |  |
Currency swap(s) | 0 | [3] | 0 | [4]
Interest rate swaps | 0 |  | 0 |
Commodity contract derivatives | 0 |  | 0 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | 0 |  | 0 |
Fair Value, Inputs, Level 2 |  |  |  |
Investments |  |  |  |
Equity securities | 0 |  | 0 |
Debt Instruments |  |  |  |
U.S. government corporations and agencies | 39 |  | 31 |
Corporate debt securities | 254 |  | 225 |
Residential mortgage-backed securities | 16 |  | 17 |
Commercial mortgage-backed securities | 5 |  | 7 |
Collateralized debt obligations | 28 |  | 29 |
Institutional mutual funds | 0 |  | 0 |
Forward debt securities contracts | (8) |  | (59) |
Private partnerships measured at net asset value | 0 | [1] | 0 | [2]
Commingled funds measured at net asset value | 0 | [1] | 0 | [2]
Total investments | 334 |  | 250 |
Currency swap(s) | 9 | [3] | 25 | [4]
Commodity contract derivatives | 4 |  | 1 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | 347 |  | 276 |
Liabilities |  |  |  |
Currency swap(s) | 58 | [3] | 47 | [4]
Interest rate swaps | 1,538 |  | 1,627 |
Commodity contract derivatives | 19 |  | 0 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 21 | [3] | 27 | [4]
Total | 1,636 |  | 1,701 |
Fair Value, Inputs, Level 3 |  |  |  |
Investments |  |  |  |
Equity securities | 0 |  | 0 |
Debt Instruments |  |  |  |
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 |
Institutional mutual funds | 0 |  | 0 |
Forward debt securities contracts | 0 |  | 0 |
Private partnerships measured at net asset value | 0 | [1] | 0 | [2]
Commingled funds measured at net asset value | 0 | [1] | 0 | [2]
Total investments | 0 |  | 0 |
Currency swap(s) | 0 | [3] | 0 | [4]
Commodity contract derivatives | 0 |  | 0 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | 0 |  | 0 |
Liabilities |  |  |  |
Currency swap(s) | 0 | [3] | 0 | [4]
Interest rate swaps | 0 |  | 0 |
Commodity contract derivatives | 123 |  | 98 |
Commodity derivatives under FTP |  |  |  |
Swap contracts | 0 | [3] | 0 | [4]
Total | $ 123 |  | $ 98 |
[1] | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
[2] | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
[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 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 12 — 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 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 12 — Offsetting of Derivative Assets and Liabilities.

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