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Fair Value Measurements Fair Value Measurements - Fair Value Measurements (Details) - USD ($)
$ in Millions
Sep. 30, 2019
Sep. 30, 2018
Investments    
Equity securities $ 464 $ 220
Government debt securities 344 236
Corporate debt securities 417 499
Mortgage and asset-backed securities 32 50
Institutional mutual funds 250 126
Forward debt securities contracts - asset 22 45
Private equity funds measured at net asset value 140 [1] 132
Private real estate measured at net asset value 135 [1] 124
Private credit measured at net asset value [1] 33  
Commingled funds measured at net asset value 1,131 [1] 1,430
Total investments 2,968 2,862
Commodity contract derivatives 12 72
Total 2,980 2,934
Liabilities    
Currency swaps 208 [2] 94 [3]
Interest rate swaps 1,764 1,199
Commodity contract derivatives 53 12
Total 2,025 1,305
Fair Value, Inputs, Level 1    
Investments    
Equity securities 464 220
Government debt securities 279 199
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 250 126
Forward debt securities contracts - asset 0 0
Private equity funds measured at net asset value 0 [1] 0 [4]
Private real estate measured at net asset value 0 [1] 0 [4]
Commingled funds measured at net asset value 0 [1] 0 [4]
Total investments 993 545
Commodity contract derivatives 0 0
Total 993 545
Liabilities    
Currency swaps 0 [2] 0 [3]
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Total 0 0
Fair Value, Inputs, Level 2    
Investments    
Equity securities 0 0
Government debt securities 65 37
Corporate debt securities 417 499
Mortgage and asset-backed securities 32 50
Institutional mutual funds 0 0
Forward debt securities contracts - asset 22 45
Private equity funds measured at net asset value 0 [1] 0 [4]
Private real estate measured at net asset value 0 [1] 0 [4]
Commingled funds measured at net asset value 0 [1] 0 [4]
Total investments 536 631
Commodity contract derivatives 7 13
Total 543 644
Liabilities    
Currency swaps 208 [2] 94 [3]
Interest rate swaps 1,764 1,199
Commodity contract derivatives 44 11
Total 2,016 1,304
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 0 [1] 0 [4]
Private real estate measured at net asset value 0 [1] 0 [4]
Commingled funds measured at net asset value 0 [1] 0 [4]
Total investments 0 0
Commodity contract derivatives 5 59
Total 5 59
Liabilities    
Currency swaps 0 [2] 0 [3]
Interest rate swaps 0 0
Commodity contract derivatives 9 1
Total $ 9 $ 1
[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 on the Consolidated Balance Sheets.
[2] 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 15 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.
[3] See Note 15 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.
[4] 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 on the Consolidated Balance Sheets.