XML 107 R51.htm IDEA: XBRL DOCUMENT v3.25.3

Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2025

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
			2025						2024
Gross amount outstanding - discount notes (in millions)			$	—					$	1,168
Weighted average interest rate - discount notes			—		%				4.76		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2025 and 2024.

Debt Securities Activity For the years ended September 30 (in millions)
3967						2025						2024
Issues
Variable interest entities						$	800					$	—
2024 Series A(1)						—						1,000
2025 Series A(2)						1,250						—
2025 Series B(3)						1,500						—
2025 Series C(4)						1,250						—
Discount on debt issues						(33)						(9)
Total						$	4,767					$	991
Redemptions/Maturities(5)
2009 Series B						$	22					$	22
2014 Series A						—						1,000
2020 Series A						1,000						—
Total redemptions/maturities of power bonds						1,022						1,022
Debt of variable interest entities						41						35
Total redemptions/maturities of debt						$	1,063					$	1,057

Notes

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

(2) The 2025 Series A Bonds were issued at 98.517 percent of par.

(3) The 2025 Series B Bonds were issued at 99.360 percent of par.

(4) The 2025 Series C Bonds were issued at 99.593 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2025 and 2024, consisted of the following: 

Short-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity												Coupon Rate						2025						2024
Short-term debt, net of discounts																								$	—					$	1,167
Current maturities of long-term debt of variable interest entities																								49						37
Current maturities of power bonds issued at par
880591EW8						5/15/2025												0.750%						—						1,000
880591CJ9(1)						11/1/2025												6.750%						1,350						—
880591EF5						12/15/2025												3.770%						—						1
880591EF5						6/15/2026												3.770%						20						21
Total current maturities of power bonds issued at par																								1,370						1,022
Total current debt outstanding, net																								$	1,419					$	2,226

Notes

(1) On November 1, 2025, TVA redeemed a $1.4 billion power bond due to maturity. TVA's next significant power bond maturity is $1.0 billion in February 2027.

Long-Term Debt At September 30 (in millions)
CUSIP or Other Identifier						Maturity						Coupon Rate												2025 Par						2024 Par						Stock Exchange Listings
880591CJ9						11/1/2025						6.750%												$	—					$	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
880591FE7						8/1/2030						3.875%												1,250						—						New York
880591EX6						9/15/2031						1.500%												500						500						New York
880591DP4						6/7/2032						6.587%			(2)									337			(3)			335			(3)			New York, Luxembourg
880591DV1						7/15/2033						4.700%												472						472						New York, Luxembourg
880591EF5						6/15/2034						3.770%												96						116						None
880591FB3						8/1/2034						4.375%												1,000						1,000						New York
880591FD9						5/15/2035						4.875%												1,500						—						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)									202			(3)			201			(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
880591FC1						2/1/2055						5.250%												1,250						—						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																								20,628						17,995
Unamortized discounts, premiums, issue costs, and other																								(167)						(128)
Total long-term outstanding power bonds, net																								20,461						17,867
Long-term debt of VIEs, net																								1,632						897
Total long-term debt, net																								$	22,093					$	18,764

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 $59 million and $62 million at September 30, 2025 and 2024, respectively

Maturities Due in the Year Ending September 30

Maturities Due in the Year Ending September 30 (in millions)
			2026						2027						2028						2029						2030						Thereafter						Total
Long-term power bonds including current maturities(1)			$	1,370					$	1,020					$	1,272					$	220					$	2,262					$	15,913					$	22,057

Notes

(1) Long-term power bonds do not include non-cash items of foreign currency exchange gain of $59 million, unamortized debt issue costs of $54 million, or net discount on sale of Bonds of $113 million.

Summary of Long-Term Credit Facilities

The following table provides additional information regarding TVA's funding available under the four revolving credit facilities:

Summary of Credit Facilities At September 30, 2025 (in millions)
Maturity Date						Facility Limit						Letters of Credit Outstanding						Cash Borrowings						Availability
March 2026						$	150					$	38					$	—					$	112
March 2027						1,000						135						—						865
February 2028						500						215						—						285
September 2030						1,000						110						—						890
Total						$	2,650					$	498					$	—					$	2,152

X

- Definition

Debt and Other Obligations

+ References

No definition available.

+ Details

Name:	tve_DebtAndOtherObligationsAbstract
Namespace Prefix:	tve_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of debt issues, redemptions, and maturities

+ References

No definition available.

+ Details

Name:	tve_DebtSecuritiesTableTextBlock
Namespace Prefix:	tve_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration