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Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2023

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
			2023						2022
Gross amount outstanding - discount notes (in millions)			$	432					$	1,173
Weighted average interest rate - discount notes			5.29		%				2.93		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2023 and 2022.

Debt Securities Activity For the years ended September 30 (in millions)
						2023						2022
Issues
2022 Series A(1)						$	—					$	500
2023 Series A(2)						1,000						—
Discount on debt issues						(8)						(16)
Total						$	992					$	484
Redemptions/Maturities(3)
2009 Series B						$	29					$	28
2012 Series A						—						1,000
Total redemptions/maturities of power bonds						29						1,028
Debt of variable interest entities						39						43
Total redemptions/maturities of debt						$	68					$	1,071

Notes

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

(2) The 2023 Series A Bonds were issued at 99.187 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2023 and 2022, consisted of the following: 

Short-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity												Coupon Rate						2023						2022
Short-term debt, net of discounts																								$	432					$	1,172
Current maturities of long-term debt of VIEs issued at par																								35						39
Current maturities of power bonds issued at par
880591EF5						12/15/2023												3.770%						1						1
880591EF5						6/15/2024												3.770%						21						28
880591ER9						9/15/2024												2.875%						1,000						—
Total current maturities of power bonds issued at par																								1,022						29
Total current debt outstanding, net																								$	1,489					$	1,240

Long-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity						Coupon Rate												2023 Par						2022 Par						Stock Exchange Listings
880591ER9						9/15/2024						2.875%												$	—					$	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)									305			(1)			279			(1)			New York, Luxembourg
880591DV1						7/15/2033						4.700%												472						472						New York, Luxembourg
880591EF5						6/15/2034						3.770%												139						160						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)									183			(1)			168			(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						500						New York
880591EZ1						3/15/2028						3.875%												1,000						—						New York
Subtotal																								17,970						17,950
Unamortized discounts, premiums, issue costs, and other																								(126)						(124)
Total long-term outstanding power bonds, net																								17,844						17,826
Long-term debt of VIEs, net																								933						968
Total long-term debt, net																								$	18,777					$	18,794

Notes

(1)  Includes total net exchange gain from currency transactions of $109 million and $150 million at September 30, 2023 and 2022, 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)
			2024						2025						2026						2027						2028						Thereafter						Total
Long-term power bonds including current maturities(1)			$	1,022					$	1,022					$	1,370					$	1,020					$	1,272					$	13,395					$	19,101
Short-term debt(2)			432						—						—						—						—						—						432

Notes

(1) Long-term power bonds do not include non-cash items of foreign currency exchange gain of $109 million, unamortized debt issue costs of $41 million, or net

discount on sale of Bonds of $85 million.

(2) Short-term debt does not include the non-cash item of discount on issuance of discount notes of less than $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, 2023 (in millions)
Maturity Date						Facility Limit						Letters of Credit Outstanding						Cash Borrowings						Availability
February 2025						$	500					$	302					$	—					$	198
March 2026						150						38						—						112
September 2026						1,000						99						—						901
March 2027						1,000						96						—						904
Total						$	2,650					$	535					$	—					$	2,115

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