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Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2024

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
			2024						2023
Gross amount outstanding - discount notes (in millions)			$	1,168					$	432
Weighted average interest rate - discount notes			4.76		%				5.29		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2024 and 2023.

Debt Securities Activity For the years ended September 30 (in millions)
						2024						2023
Issues
2023 Series A(1)						$	—					$	1,000
2024 Series A(2)						1,000						—
Discount on debt issues						(9)						(8)
Total						$	991					$	992
Redemptions/Maturities(3)
2009 Series B						$	22					$	29
2014 Series A						1,000						—
Total redemptions/maturities of power bonds						1,022						29
Debt of variable interest entities						35						39
Total redemptions/maturities of debt						$	1,057					$	68

Notes

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

(2) The 2024 Series A Bonds were issued at 99.109 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2024 and 2023, consisted of the following: 

Short-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity												Coupon Rate						2024						2023
Short-term debt, net of discounts																								$	1,167					$	432
Current maturities of long-term debt of VIEs issued at par																								37						35
Current maturities of power bonds issued at par
880591ER9						9/15/2024												2.875%						—						1,000
880591EF5						12/15/2024												3.770%						1						1
880591EW8						5/15/2025												0.750%						1,000						—
880591EF5						6/15/2025												3.770%						21						21
Total current maturities of power bonds issued at par																								1,022						1,022
Total current debt outstanding, net																								$	2,226					$	1,489

Long-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity						Coupon Rate												2024 Par						2023 Par						Stock Exchange Listings
880591EW8						5/15/2025						0.750%												$	—					$	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
880591EZ1						3/15/2028						3.875%												1,000						1,000						New York
880591300(1)						6/1/2028						2.134%												256						256						New York
880591409(1)						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)									335			(3)			305			(3)			New York, Luxembourg
880591DV1						7/15/2033						4.700%												472						472						New York, Luxembourg
880591EF5						6/15/2034						3.770%												116						139						None
880591FB3						8/1/2034						4.375%												1,000						—						New York
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)									201			(3)			183			(3)			New York, Luxembourg
880591EB4						1/15/2048						4.875%												500						500						New York, Luxembourg
880591EY4						9/15/2052						4.250%												500						500						New York
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
Subtotal																								17,995						17,970
Unamortized discounts, premiums, issue costs, and other																								(128)						(126)
Total long-term outstanding power bonds, net																								17,867						17,844
Long-term debt of VIEs, net																								897						933
Total long-term debt, net																								$	18,764					$	18,777

Notes

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

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

(3) CUSIP numbers 880591DP4 and 880591DU3 include total net exchange gain from currency transactions of $62 million and $109 million at September 30, 2024 and 2023, respectively

Maturities Due in the Year Ending September 30

Maturities Due in the Year Ending September 30 (in millions)
			2025						2026						2027						2028						2029						Thereafter						Total
Long-term power bonds including current maturities(1)			$	1,022					$	1,370					$	1,020					$	1,272					$	220					$	14,175					$	19,079
Short-term debt net of discounts			1,167						—						—						—						—						—						1,167

Notes

(1) Long-term power bonds do not include non-cash items of foreign currency exchange gain of $62 million, unamortized debt issue costs of $41 million, or net discount on sale of Bonds of $87 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, 2024 (in millions)
Maturity Date						Facility Limit						Letters of Credit Outstanding						Cash Borrowings						Availability
March 2026						$	150					$	38					$	—					$	112
September 2026						1,000						134						—						866
March 2027						1,000						180						—						820
February 2028						500						214						—						286
Total						$	2,650					$	566					$	—					$	2,084

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