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Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2022

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
			2022						2021
Gross amount outstanding - discount notes (in millions)			$	1,173					$	780
Weighted average interest rate - discount notes			2.93		%				0.03		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2022 and 2021.

Debt Securities Activity For the years ended September 30 (in millions)
						2022						2021
Issues
2021 Series A(1)						$	—					$	500
2022 Series A(2)						500						—
Discount on debt issues						(16)						—
Total						$	484					$	500
Redemptions/Maturities(3)
2009 Series B						$	28					$	29
2011 Series A						—						1,500
1998 Series H						—						331
2012 Series A						1,000						—
Total redemptions/maturities of power bonds						1,028						1,860
Debt of variable interest entities						43						41
Total redemptions/maturities of debt						$	1,071					$	1,901

Notes

(1) The 2021 Series A Bonds were issued at 99.982 percent of par.

(2) The 2022 Series A Bonds were issued at 96.786 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2022 and 2021, consisted of the following: 

Short-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity												Coupon Rate						2022						2021
Short-term debt, net of discounts																								$	1,172					$	780
Current maturities of long-term debt of VIEs issued at par																								39						43
Current maturities of power bonds issued at par
880591EN8						8/15/2022												1.875%						—						1,000
880591EF5						12/15/2022												3.770%						1						1
880591EF5						6/15/2023												3.770%						28						27
Total current maturities of power bonds issued at par																								29						1,028
Total current debt outstanding, net																								$	1,240					$	1,851

Long-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity						Coupon Rate												2022 Par						2021 Par						Stock Exchange Listings
880591ER9						9/15/2024						2.875%												$	1,000					$	1,000					New York
880591EW8						5/15/2025						0.750%												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(3)						6/1/2028						2.134%												256						256						New York
880591409(3)						5/1/2029						2.216%												208						208						New York
880591DM1						5/1/2030						7.125%												1,000						1,000						New York, Luxembourg
880591EX6						9/15/2031						1.500%												500						500						New York
880591DP4						6/7/2032						6.587%			(2)									279			(1)			337			(1)			New York, Luxembourg
880591DV1						7/15/2033						4.700%												472						472						New York, Luxembourg
880591EF5						6/15/2034						3.770%												160						190						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%			(2)									168			(1)			202			(1)			New York, Luxembourg
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
880591EY4						9/15/2052						4.250%												500						—						New York
Subtotal																								17,950						17,572
Unamortized discounts, premiums, issue costs, and other																								(124)						(115)
Total long-term outstanding power bonds, net																								17,826						17,457
Long-term debt of VIEs, net																								968						1,006
Total long-term debt, net																								$	18,794					$	18,463

Notes

(1)  Includes net exchange gain from currency transactions of $150 million and $58 million at September 30, 2022 and 2021, respectively.

(2)  The coupon rate represents TVA's effective interest rate.

(3)  TVA PARRS, CUSIP numbers 880591300 and 880591409, may be redeemed under certain conditions.  See Put Options above.

Maturities Due in the Year Ending September 30

Maturities Due in the Year Ending September 30 (in millions)
			2023						2024						2025						2026						2027						Thereafter						Total
Long-term power bonds including current maturities(1)			$	29					$	1,022					$	1,022					$	1,370					$	1,020					$	13,666					$	18,129
Short-term debt(2)			1,173						—						—						—						—						—						1,173

Notes

(1) Long-term power bonds does not include non-cash items of foreign currency exchange gain of $150 million, unamortized debt issue costs of $42 million, and net

discount on sale of Bonds of $82 million.

(2) Short-term debt does not include the non-cash item of discount on issuance of discount notes of $1 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, 2022 (in millions)
Maturity Date						Facility Limit						Letters of Credit Outstanding						Cash Borrowings						Availability
February 2024						$	150					$	38					$	—					$	112
February 2025						500						500						—						—
September 2026						1,000						99						—						901
March 2027						1,000						67						—						933
Total						$	2,650					$	704					$	—					$	1,946

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