XML 82 R53.htm IDEA: XBRL DOCUMENT v3.4.0.3
Risk Management Activities and Derivative Transactions Derivative Instruments That Do Not Receive Hedge Accounting Treatment (Details)
3 Months Ended 6 Months Ended
Mar. 31, 2016
USD ($)
Mar. 31, 2015
USD ($)
Mar. 31, 2016
USD ($)
Mar. 31, 2015
USD ($)
Sep. 30, 2015
USD ($)
Derivative          
Unrealized gain (loss) on derivatives     $ 0 $ 0  
Change in Unrealized gains (losses) on Interest Rate Derivatives $ (262,000,000) $ (165,000,000) (173,000,000) (349,000,000)  
Interest Rate Swap          
Derivative          
Amount of gain (loss) recognized in income on derivatives [1] (27,000,000) (28,000,000) (55,000,000) (57,000,000)  
Commodity Contract Derivatives          
Derivative          
Amount of gain (loss) recognized in income on derivatives [1] 0 0 0 0  
Fair value (194,000,000)   (194,000,000)   $ (97,000,000)
Commodity derivatives under the financial trading program          
Derivative          
Amount of gain (loss) recognized in income on derivatives [1] (21,000,000) $ (26,000,000) (56,000,000) $ (39,000,000)  
Fair value [2] $ (87,000,000)   $ (87,000,000)   $ (116,000,000)
Coal Contract Derivatives          
Derivative          
Number of contracts 12   12   14
Notional amount 25,000,000   25,000,000   19,000,000
Fair value $ (187,000,000)   $ (187,000,000)   $ (98,000,000)
Natural Gas          
Derivative          
Number of contracts 32   32   33
Notional amount 172,000,000   172,000,000   134,000,000
Fair value $ (7,000,000)   $ (7,000,000)   $ 1,000,000
Maximum | Coal Contract Derivatives          
Derivative          
Derivative, Term of Contract 3 years        
Maximum | Natural Gas          
Derivative          
Derivative, Term of Contract 3 years        
Natural Gas          
Derivative          
Fair value $ (87,000,000)   $ (87,000,000)   $ (116,000,000)
[1] All of TVA's derivative instruments that do not receive hedge accounting treatment have unrealized gains (losses) that would otherwise be recognized in incomebut instead are deferred as regulatory assets and liabilities. As such, there was no related gain (loss) recognized in income for these unrealized gains (losses) for the three months and six months ended March 31, 2016 and 2015.
[2] Fair values of certain derivatives under the FTP that were in net liability positions totaling $69 million and $89 million at March 31, 2016 and September 30, 2015, respectively, are recorded in TVA's margin cash accounts in Other current assets. These derivatives are transacted with futures commission merchants, and cash deposits have been posted to the margin cash accounts held with each futures commission merchant to offset the net liability positions in full.