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Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2019

Debt and Other Obligations [Abstract]

Schedule of short-term borrowings

The following table provides information regarding TVA's short-term borrowings:

Short-term Borrowings At September 30
	2019				2018				2017
Gross amount outstanding - discount notes	$	922			$	1,217			$	1,999
Weighted average interest rate - discount notes	2.152		%		2.045		%		1.000		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2019 and 2018.

Debt Securities Activity For the years ended September 30
		2019				2018
Issues
2018 Series A(1)		$	—			$	1,000
Discount on debt issues		—				(2		)
Total		$	—			$	998
Redemptions/Maturities(2)
Variable interest entities		$	38			$	36
Notes payable		46				53
electronotes®		5				52
2013 Series A		1,000				—
2009 Series B		30				29
1997 Series E		—				650
2008 Series B		—				1,000
Total		$	1,119			$	1,820

Notes

(1) The 2018 Series A bonds were issued at 99.8 percent of par.

(2) All redemptions were at 100 percent of par.

Debt Outstanding

Total debt outstanding at September 30, 2019 and 2018, consisted of the following: 

Short-Term Debt At September 30
CUSIP or Other Identifier		Maturity		Call/(Put) Date		Coupon Rate		2019				2018
Short-term debt, net of discounts								$	922			$	1,216
Current maturities of long-term debt of VIEs issued at par								39				38
Current maturities of notes payable								23				46
Current maturities of power bonds issued at par
880591EQ1		10/15/2018				1.750%		—				1,000
880591EF5		12/15/2019				3.770%		1				1
880591EF5		6/15/2020				3.770%		27				29
88059TEL1		11/15/2019				2.650%		1				1
88059TEL1		5/15/2020				2.650%		1				1
880591EV0		3/15/2020				2.250%		1,000				—
Total current maturities of power bonds issued at par								1,030				1,032
Total current debt outstanding, net								$	2,014			$	2,332

Long-Term Debt At September 30
CUSIP or Other Identifier		Maturity		Coupon Rate		Effective Call Date		2019 Par				2018 Par				Stock Exchange Listings
electronotes®(2)		5/15/2020 - 2/15/2043		2.375% - 3.625%		2/15/2015 - 2/15/2018 (5)		$	217			$	221			None
880591EV0		3/15/2020		2.250%				—				1,000				New York
880591EL2		2/15/2021		3.875%				1,500				1,500				New York
880591DC3		6/7/2021		5.805%	(3)			246			(1)	261				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
880591EU2		2/1/2027		2.875%				1,000				1,000				New York
880591300(4)		6/1/2028		3.550%				273				273				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)			307			(1)	326				New York, Luxembourg
880591DV1		7/15/2033		4.700%				472				472				New York, Luxembourg
880591EF5		6/15/2034		3.770%				246				273				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)			185			(1)	195				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								19,225				20,300
Unamortized discounts, premiums, issue costs, and other								(131		)		(143		)
Total long-term outstanding power bonds, net								19,094				20,157
Long-term debt of VIEs, net								1,089				1,127
Long-term notes payable								—				23
Total long-term debt, net								$	20,183			$	21,307

Notes

(1)  Includes net exchange gain from currency transactions of $191 million and $147 million at September 30, 2019 and 2018, respectively.

(2)  Includes one electronotes^® issue 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.

Maturities Due in the Year Ending September 30

Maturities Due in the Year Ending September 30
	2020				2021				2022				2023				2024				Thereafter				Total
Long-term power bonds, long-term debt of VIEs, and notes payable including current maturities(1)	$	1,092			$	1,901			$	1,071			$	69			$	1,057			$	16,415			$	21,605
Short-term debt, net of discounts	922				—				—				—				—				—				922

Note

(1) Long-term power bonds does not include non-cash items of foreign currency exchange gain of $191 million, unamortized debt issue costs of $50 million, and net discount on sale of Bonds of $81 million. Long-term debt of VIE does not include non-cash item of unamortized debt issue costs of $8 million.

Summary of Long-Term Credit Facilities

The following table provides additional information regarding TVA's funding available under the four long-term revolving credit facilities:

Summary of Long-Term Credit Facilities At September 30, 2019
Maturity Date		Facility Limit				Letters of Credit Outstanding				Cash Borrowings				Availability
December 2021		$	150			$	38			$	—			$	112
February 2022		500				500				—				—
June 2023		1,000				494				—				506
September 2023		1,000				310				—				690
Total		$	2,650			$	1,342			$	—			$	1,308

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