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Fair Value Measurements Fair Value Measurements (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Sep. 30, 2017
--- | --- | ---
Investments |  |  |
Equity securities |  | $ 203 | $ 226
Government debt securities |  | 154 | 142
Corporate debt securities |  | 388 | 373
Mortgage and asset-backed securities |  | 50 | 49
Institutional mutual funds |  | 87 | 94
Forward debt securities contracts |  | 34 | 19
Private equity funds measured at net asset value(1) | [1] | 131 | 136
Private real estate funds measured at net asset value(1) | [1] | 115 | 113
Commingled funds measured at net asset value(1) | [1] | 1,520 | 1,451
Total investments |  | 2,682 | 2,603
Currency swap |  | 29 |
Commodity contract derivatives |  | 15 | 10
Total |  | 2,726 | 2,613
Liabilities |  |  |
Currency swaps | [2] | 52 | 103
Interest rate swaps |  | 1,339 | 1,511
Commodity contract derivatives |  | 80 | 70
Swap contracts | [2] |  | 1
Total |  | 1,471 | 1,685
Fair Value, Inputs, Level 1 |  |  |
Investments |  |  |
Equity securities |  | 203 | 226
Government debt securities |  | 121 | 100
Corporate debt securities |  | 0 | 0
Mortgage and asset-backed securities |  | 0 | 0
Institutional mutual funds |  | 87 | 94
Forward debt securities contracts |  | 0 | 0
Private equity funds measured at net asset value(1) | [1] | 0 | 0
Private real estate funds measured at net asset value(1) | [1] | 0 | 0
Commingled funds measured at net asset value(1) | [1] | 0 | 0
Total investments |  | 411 | 420
Currency swap |  | 0 |
Commodity contract derivatives |  | 0 | 0
Total |  | 411 | 420
Liabilities |  |  |
Currency swaps | [2] | 0 | 0
Interest rate swaps |  | 0 | 0
Commodity contract derivatives |  | 0 | 0
Swap contracts | [2] |  | 0
Total |  | 0 | 0
Fair Value, Inputs, Level 2 |  |  |
Investments |  |  |
Equity securities |  | 0 | 0
Government debt securities |  | 33 | 42
Corporate debt securities |  | 388 | 373
Mortgage and asset-backed securities |  | 50 | 49
Institutional mutual funds |  | 0 | 0
Forward debt securities contracts |  | 34 | 19
Private equity funds measured at net asset value(1) | [1] | 0 | 0
Private real estate funds measured at net asset value(1) | [1] | 0 | 0
Commingled funds measured at net asset value(1) | [1] | 0 | 0
Total investments |  | 505 | 483
Currency swap |  | 29 |
Commodity contract derivatives |  | 1 | 8
Total |  | 535 | 491
Liabilities |  |  |
Currency swaps | [2] | 52 | 103
Interest rate swaps |  | 1,339 | 1,511
Commodity contract derivatives |  | 13 | 1
Swap contracts | [2] |  | 1
Total |  | 1,404 | 1,616
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 |  | 0 | 0
Private equity funds measured at net asset value(1) | [1] | 0 | 0
Private real estate funds measured at net asset value(1) | [1] | 0 | 0
Commingled funds measured at net asset value(1) | [1] | 0 | 0
Total investments |  | 0 | 0
Currency swap |  | 0 |
Commodity contract derivatives |  | 14 | 2
Total |  | 14 | 2
Liabilities |  |  |
Currency swaps | [2] | 0 | 0
Interest rate swaps |  | 0 | 0
Commodity contract derivatives |  | 67 | 69
Swap contracts | [2] |  | 0
Total |  | $ 67 | $ 69
[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 13 — Offsetting of Derivative Assets and Liabilities.

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