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Proprietary Capital (Tables)

12 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Accumulated Other Comprehensive Income (Loss)

The items included in AOCI consist of market valuation adjustments for certain derivative instruments.  See Note 16 — Risk Management Activities and Derivative Transactions.

TVA records exchange rate gains and losses on debt and related accrued interest in net income and marks its currency swap assets and liabilities to market through OCI.  TVA recognized unrealized gains (losses) of $126 million and $(1) million in 2021 and 2020, respectively, into AOCI on the MtM of currency swaps. TVA then reclassified an amount out of AOCI into net income, offsetting the gain/loss from recording the exchange gain/loss on the debt and related accrued interest.  The amounts reclassified from OCI into net income resulted in increases (decreases) to net income of $97 million, $38 million, and $(45) million in 2021, 2020, and 2019, respectively.  These reclassifications, coupled with the recording of the exchange gain/loss on the debt and related accrued interest, did not have an impact on net income in 2021, 2020, and 2019.  Based on forecasted foreign currency exchange rates, TVA expects to reclassify approximately $25 million of gains from AOCI to interest expense within the next 12 months to offset amounts anticipated to be recorded in interest expense related to exchange gain on the debt and related accrued interest.

Summary of Proprietary Capital Activity

The table below summarizes TVA's activities related to appropriated funds and retained earnings.

Summary of Proprietary Capital Activity At or for the years ended September 30
			2021												2020
			Power Program						Nonpower  Programs						Power Program						Nonpower  Programs
Appropriation Investment			$	258					$	4,351					$	258					$	4,351
Proprietary Capital
Balance at beginning of year			12,177						(3,803)						10,823						(3,795)
Net income (loss) for year			1,520						(8)						1,360						(8)
Return on power program appropriation investment			(4)						—						(6)						—
Implementation of new accounting standard(1)			(4)						—						—						—
Balance at end of year			13,689						(3,811)						12,177						(3,803)
Net proprietary capital at September 30			$	13,947					$	540					$	12,435					$	548

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
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