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Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Financing Receivable, after Allowance for Credit Loss $ 96 $ 93
Investments    
Equity securities 588 500
Government debt securities 529 525
Corporate debt securities 400 356
Mortgage and asset-backed securities 27 27
Institutional mutual funds 214 188
Forward debt securities contracts 11 13
Private credit measured at net asset value 56 53
Private equity funds measured at net asset value(1) 238 194 [1]
Private real estate funds measured at net asset value(1) 190 168 [1]
Commingled funds measured at net asset value(1) 1,334 1,174 [1]
Total investments 3,587 3,198
Commodity contract derivatives 25 49
Total 3,612 3,247
Liabilities    
Currency swaps [2] 108 209
Interest rate swaps 1,869 2,041
Commodity contract derivatives 3 3
Total 1,980 2,253
Decommissioning Fund Investments 971  
Balance in NDT 2,500  
Fair Value, Inputs, Level 1    
Investments    
Equity securities 588 500
Government debt securities 500 485
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 214 188
Forward debt securities contracts 0 0
Private credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 1,302 1,173
Commodity contract derivatives 0 0
Total 1,302 1,173
Liabilities    
Currency swaps 0 0 [2]
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 29 40
Corporate debt securities 400 356
Mortgage and asset-backed securities 27 27
Institutional mutual funds 0 0
Forward debt securities contracts 11 13
Private credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 467 436
Commodity contract derivatives 25 49
Total 492 485
Liabilities    
Currency swaps 108 209 [2]
Interest rate swaps 1,869 2,041
Commodity contract derivatives 3 3
Total 1,980 2,253
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 credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 0 0
Commodity contract derivatives 0 0
Total 0 0
Liabilities    
Currency swaps 0 0 [2]
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Total $ 0 $ 0
[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 13 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.