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Debt and Other Obligations Debt and Other Obligations (Tables) | 12 Months Ended
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Sep. 30, 2020
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
| 2020 |  | 2019 |  | 2018
Gross amount outstanding - discount notes | $ | 57 |  |  | $ | 922 |  |  | $ | 1,217 |
Weighted average interest rate - discount notes | 0.06 | % |  | 2.15 | % |  | 2.05 | %
Debt Securities Activity | The table below summarizes the long-term debt securities activity for the years ended September 30, 2020 and 2019.
Debt Securities Activity For the years ended September 30
|  | 2020 |  | 2019
Issues |  |  |  |
2020 Series A(1) |  | $ | 1,000 |  |  | $ | — |
Discount on debt issues |  | (3) |  |  | — |
Total |  | $ | 997 |  |  | $ | — |
Redemptions/Maturities(2) |  |  |  |
electronotes® |  | $ | 219 |  |  | $ | 5 |
2013 Series A |  |  |  | 1,000 |
2009 Series B |  | 28 |  |  | 30 |
2018 Series A |  | 1,000 |  |  | — |
1999 Series A PARRS (TVE) |  | 23 |  |  | — |
1998 Series D PARRS (TVC) |  | 17 |  |  | — |
1995 Series B |  | 140 |  |  | — |
Total redemptions/maturities of power bonds |  | 1,427 |  |  | 1,035 |
Notes payable |  | 23 |  |  | 46 |
Variable interest entities |  | 39 |  |  | 38 |
Total |  | $ | 1,489 |  |  | $ | 1,119 |
Notes (1) The 2020 Series A Bonds were issued at 99.7 percent of par. (2) All redemptions were at 100 percent of par.
Debt Outstanding | Total debt outstanding at September 30, 2020 and 2019, consisted of the following:
Short-Term Debt At September 30
CUSIP or Other Identifier |  | Maturity |  | Call/(Put) Date |  | Coupon Rate |  | 2020 |  | 2019
Short-term debt, net of discounts |  |  |  |  |  |  |  | $ | 57 |  |  | $ | 922 |
Current maturities of long-term debt of VIEs issued at par |  |  |  |  |  |  |  | 41 |  |  | 39 |
Current maturities of notes payable |  |  |  |  |  |  |  | — |  |  | 23 |
Current maturities of power bonds issued at par |  |  |  |  |  |  |  |  |  |
880591EF5 |  | 12/15/2019 |  |  |  | 3.770% |  | — |  |  | 1 |
880591EF5 |  | 6/15/2020 |  |  |  | 3.770% |  | — |  |  | 27 |
880591EF5 |  | 12/15/2020 |  |  |  | 3.770% |  | 1 |  |  | — |
880591EF5 |  | 6/15/2021 |  |  |  | 3.770% |  | 28 |  |  | — |
88059TEL1 |  | 11/15/2019 |  |  |  | 2.650% |  | — |  |  | 1 |
88059TEL1 |  | 5/15/2020 |  |  |  | 2.650% |  | — |  |  | 1 |
880591EV0 |  | 3/15/2020 |  |  |  | 2.250% |  | — |  |  | 1,000 |
880591EL2 |  | 2/15/2021 |  |  |  | 3.875% |  | 1,500 |  |  | — |
880591DC3 |  | 6/7/2021 |  |  |  | 5.805% |  | 258 |  | (1) | — |
Total current maturities of power bonds issued at par |  |  |  |  |  |  |  | 1,787 |  |  | 1,030 |
Total current debt outstanding, net |  |  |  |  |  |  |  | $ | 1,885 |  |  | $ | 2,014 |
Note (1) Includes net exchange gain from currency transactions of $73 million at September 30, 2020.
Long-Term Debt At September 30
CUSIP or Other Identifier |  | Maturity |  | Coupon Rate |  | Effective Call Date |  | 2020 Par |  | 2019 Par |  | Stock Exchange Listings
electronotes®(2) |  | 5/15/2020 - 2/15/2043 |  | 2.375% - 3.625% |  | 2/15/2015 - 2/15/2018 (5) |  | $ | — |  |  | $ | 217 |  |  | None
880591EL2 |  | 2/15/2021 |  | 3.875% |  |  |  | — |  |  | 1,500 |  |  | New York
880591DC3 |  | 6/7/2021 |  | 5.805% | (3) |  |  | — |  |  | 246 |  | (1) | 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
880591EW8 |  | 5/15/2025 |  | 0.750% |  |  |  | 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 |  | 2.134% |  |  |  | 256 |  |  | 273 |  |  | New York
880591409(4) |  | 5/1/2029 |  | 2.216% |  |  |  | 208 |  |  | 232 |  |  | New York
880591DM1 |  | 5/1/2030 |  | 7.125% |  |  |  | 1,000 |  |  | 1,000 |  |  | New York, Luxembourg
880591DP4 |  | 6/7/2032 |  | 6.587% | (3) |  |  | 323 |  | (1) | 307 |  | (1) | New York, Luxembourg
880591DV1 |  | 7/15/2033 |  | 4.700% |  |  |  | 472 |  |  | 472 |  |  | New York, Luxembourg
880591EF5 |  | 6/15/2034 |  | 3.770% |  |  |  | 218 |  |  | 246 |  |  | 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) |  |  | 194 |  | (1) | 185 |  | (1) | New York, Luxembourg
880591CF7 |  | 7/15/2045 |  | 6.235% |  | 7/15/2020 |  | — |  |  | 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 |  |  |  |  |  |  |  | 18,078 |  |  | 19,225 |  |  |
Unamortized discounts, premiums, issue costs, and other |  |  |  |  |  |  |  | (122) |  |  | (131) |  |  |
Total long-term outstanding power bonds, net |  |  |  |  |  |  |  | 17,956 |  |  | 19,094 |  |  |
Long-term debt of VIEs, net |  |  |  |  |  |  |  | 1,048 |  |  | 1,089 |  |  |
Total long-term debt, net |  |  |  |  |  |  |  | $ | 19,004 |  |  | $ | 20,183 |  |  |
Notes (1) Includes net exchange gain from currency transactions of $80 million and $191 million at September 30, 2020 and 2019, 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
| 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter |  | Total
Long-term power bonds, long-term debt of VIEs, and notes payable including current maturities(1) | $ | 1,901 |  |  | $ | 1,071 |  |  | $ | 69 |  |  | $ | 1,058 |  |  | $ | 1,059 |  |  | $ | 15,957 |  |  | $ | 21,115 |
Short-term debt, net of discounts | 57 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 57 |
Note (1) Long-term power bonds does not include non-cash items of foreign currency exchange gain of $153 million, unamortized debt issue costs of $45 million, and net discount on sale of Bonds of $77 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, 2020
Maturity Date |  | Facility Limit |  | Letters of Credit Outstanding |  | Cash Borrowings |  | Availability
December 2021 |  | $ | 150 |  |  | $ | 38 |  |  | $ | — |  |  | $ | 112 |
June 2023 |  | 1,000 |  |  | 432 |  |  | — |  |  | 568 |
September 2023 |  | 1,000 |  |  | 487 |  |  | — |  |  | 513 |
February 2025 |  | 500 |  |  | 500 |  |  | — |  |  | — |
Total |  | $ | 2,650 |  |  | $ | 1,457 |  |  | $ | — |  |  | $ | 1,193 |

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