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Other Long-Term Liabilities | 3 Months Ended
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Dec. 31, 2024
Other Liabilities, Noncurrent [Abstract] |
Other Long-Term Liabilities | 10. Other Long-Term Liabilities Other long-term liabilities consist primarily of liabilities related to certain derivative agreements as well as liabilities related to operating leases. The table below summarizes the types and amounts of Other long-term liabilities:
Other Long-Term Liabilities (in millions)
| At December 31, 2024 |  | At September 30, 2024
Interest rate swap liabilities | $ | 589 |  |  | $ | 792 |
Environmental compliance and remediation costs | 210 |  |  | 212 |
Long-term project cost accruals | 160 |  |  | 140 |
Currency swap liabilities | 127 |  |  | 109 |
Operating lease liabilities | 93 |  |  | 88 |
EnergyRight® financing obligation | 52 |  |  | 52 |
Long-term deferred revenue | 49 |  |  | 48 |
Long-term deferred compensation | 37 |  |  | 50 |
Commodity contract derivative liabilities | 32 |  |  | 64 |
Advances for construction | 32 |  |  | 55 |
Other | 98 |  |  | 102 |
Total other long-term liabilities | $ | 1,479 |  |  | $ | 1,712 |
Interest Rate Swap Liabilities. See Note 13 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Derivatives Not Receiving Hedge Accounting Treatment — Interest Rate Derivatives for information regarding the interest rate swap liabilities. Environmental Compliance and Remediation Costs. At December 31, 2024, and September 30, 2024, the current amount of the environmental compliance and remediation costs reported in Accounts payable and accrued liabilities was $5 million and $3 million, respectively. Long-Term Project Cost Accruals. At December 31, 2024, and September 30, 2024, the current amount of the long-term project cost accruals reported in Accounts payable and accrued liabilities was $252 million and $124 million, respectively. Currency Swap Liabilities. See Note 13 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Cash Flow Hedging Strategy for Currency Swaps for more information regarding the currency swap liabilities. Operating Lease Liabilities. At December 31, 2024, and September 30, 2024, the current portion of TVA's operating leases reported in Accounts payable and accrued liabilities was $69 million and $63 million, respectively. EnergyRight® Financing Obligation. At both December 31, 2024, and September 30, 2024, the carrying amount of the financing obligation reported in Accounts payable and accrued liabilities was $13 million. See Note 7 — Other Long-Term Assets for information regarding the associated loans receivable. Long-Term Deferred Revenue. At December 31, 2024, and September 30, 2024, the current amount of deferred revenue recorded in Accounts payable and accrued liabilities was $27 million and $28 million, respectively. Long-Term Deferred Compensation. At December 31, 2024, and September 30, 2024, the current amount of deferred compensation recorded in Accounts payable and accrued liabilities was $33 million and $74 million, respectively. Commodity Contract Derivative Liabilities. See Note 13 — 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. Advances for Construction. At December 31, 2024, and September 30, 2024, the current amount of advances for construction recorded in Accounts payable and accrued liabilities was $85 million and $60 million, respectively.

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