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Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2016
Sep. 30, 2016
Investments    
Equity securities $ 196 $ 196
Government debt securities 126 124
Corporate debt securities 382 393
Mortgage and asset-backed securities 44 50
Institutional mutual funds 91 92
Forward debt securities contracts - asset 14 15
Private equity funds measured at net asset value [1] 136 132
Private real estate funds measured at net asset value [1] 111 113
Commingled funds measured at net asset value [1] 1,193 1,142
Total investments 2,293 2,257
Commodity contract derivatives 28 9
Total 2,321 2,266
Liabilities    
Currency swap(s) [2] 170 162
Interest rate swaps 1,497 1,938
Commodity contract derivatives 115 134
Swap contracts [2] 5 9
Total 1,787 2,243
Fair Value, Inputs, Level 1    
Investments    
Equity securities 196 196
Government debt securities 74 88
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 91 92
Forward debt securities contracts - asset 0 0
Private equity funds measured at net asset value [1] 0 0
Private real estate funds measured at net asset value [1] 0 0
Commingled funds measured at net asset value [1] 0 0
Total investments 361 376
Commodity contract derivatives 0 0
Total 361 376
Liabilities    
Currency swap(s) [2] 0 0
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Swap contracts [2] 0 0
Total 0 0
Fair Value, Inputs, Level 2    
Investments    
Equity securities 0 0
Government debt securities 52 36
Corporate debt securities 382 393
Mortgage and asset-backed securities 44 50
Institutional mutual funds 0 0
Forward debt securities contracts - asset 14 15
Private equity funds measured at net asset value [1] 0 0
Private real estate funds measured at net asset value [1] 0 0
Commingled funds measured at net asset value [1] 0 0
Total investments 492 494
Commodity contract derivatives 19 5
Total 511 499
Liabilities    
Currency swap(s) [2] 170 162
Interest rate swaps 1,497 1,938
Commodity contract derivatives 2 3
Swap contracts [2] 5 9
Total 1,674 2,112
Fair Value, Inputs, Level 3    
Investments    
Equity securities 0 0
Government debt securities 0 0
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 0 0
Forward debt securities contracts - asset 0 0
Private equity funds measured at net asset value [1] 0 0
Private real estate funds measured at net asset value [1] 0 0
Commingled funds measured at net asset value [1] 0 0
Total investments 0 0
Commodity contract derivatives 9 4
Total 9 4
Liabilities    
Currency swap(s) [2] 0 0
Interest rate swaps 0 0
Commodity contract derivatives 113 131
Swap contracts [2] 0 0
Total $ 113 $ 131
[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] 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.