Deferred Costs, Capitalized, Prepaid, and Other Assets - Text Block

12 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

5. Other Current Assets

Other current assets consisted of the following:


Other Current Assets At September 30 (in millions)
	2023		2022(1)
Inventory work-in-progress	$	28	$	18
Current portion of prepaid long-term service agreements	25		12
Commodity contract derivative assets	21		172
Prepaid software maintenance	18		14
Prepaid insurance	16		16

Other	26		25
Other current assets	$	134	$	257

Note

(1) At September 30, 2022, $18 million, $14 million, $16 million, and $12 million previously classified as Other (a component of Other current assets) have been reclassified to Inventory work-in-progress (a component of Other current assets), Prepaid software maintenance (a component of Other current assets), Prepaid insurance (a component of Other current assets), and Current portion of prepaid long-term service agreements (a component of Other current assets), respectively, to conform with current year presentation.

Commodity Contract Derivative Assets. TVA enters into certain derivative contracts for natural gas that require physical

delivery of the contracted quantity of the commodity as well as certain financial derivative contracts to hedge exposure to the price of natural gas. Commodity contract derivative assets classified as current include deliveries or settlements that will occur within 12 months or less. See Note 15 — Risk Management Activities and Derivative Transactions — Derivatives Not Receiving Hedge Accounting Treatment — Commodity Derivatives and — Commodity Derivatives under the FHP for a discussion of TVA's commodity contract derivatives.