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Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Sep. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Financing Receivable, after Allowance for Credit Loss $ 97   $ 97   $ 99
Investments          
Government debt securities 457   457   457
Corporate debt securities 369   369   378
Mortgage and asset-backed securities 39   39   43
Institutional mutual funds 333   333   342
Forward debt securities contracts 16   16   11
Private credit measured at net asset value 263   263   219
Private equity funds measured at net asset value(1) 762   762   738 [1]
Private real estate funds measured at net asset value(1) 450   450   432 [1]
Commingled funds measured at net asset value(1) 1,292   1,292   1,300 [1]
Total investments 4,917   4,917   4,968
Commodity contract derivatives 10   10   7
Total 5,033   5,033   4,975
Liabilities          
Currency swaps [2] 139   139   116
Interest rate swaps 707   707   840
Commodity contract derivatives 5   5   5
Total 862   862   1,122
Equity Securities, FV-NI 692   692   770
Cash, Cash Equivalents, and Short-Term Investments 244   244   278
Government debt securities reclassed 46   46   95
Commingled funds reclassed 456   456   495
Net Payables 62   62   78
Repurchase Agreements 168   168   174
Commodity Contract under FHP          
Investments          
Total derivatives not subject to master netting or similar arrangement 106   106    
Liabilities          
Derivative Liability, Not Subject to Master Netting Arrangement 11   11   161
NDT [Member]          
Liabilities          
Debt and Equity Securities, Unrealized Gain (Loss) (33) $ 24 (61) $ 70  
Debt and Equity Securities, Unrealized Gain (Loss) (33) 24 (61) 70  
ART [Member]          
Liabilities          
Debt and Equity Securities, Unrealized Gain (Loss) (6) 8 (14) 24  
Debt and Equity Securities, Unrealized Gain (Loss) (6) $ 8 (14) 24  
RP          
Liabilities          
Debt and Equity Securities, Unrealized Gain (Loss)     1 1  
Debt and Equity Securities, Unrealized Gain (Loss)     1 $ 1  
Fair Value, Inputs, Level 1          
Investments          
Government debt securities 410   410   400
Corporate debt securities 0   0   0
Mortgage and asset-backed securities 0   0   0
Institutional mutual funds 333   333   342
Forward debt securities contracts 0   0   0
Private credit measured at net asset value 0   0   0
Private equity funds measured at net asset value(1) 0   0   0 [1]
Private real estate funds measured at net asset value(1) 0   0   0 [1]
Commingled funds measured at net asset value(1) 0   0   0 [1]
Total investments 1,481   1,481   1,607
Commodity contract derivatives 0   0   0
Total 1,481   1,481   1,607
Liabilities          
Currency swaps 0   0   0 [2]
Interest rate swaps 0   0   0
Commodity contract derivatives 0   0   0
Total 0   0   0
Equity Securities, FV-NI 692   692   770
Cash, Cash Equivalents, and Short-Term Investments 46   46   95
Fair Value, Inputs, Level 1 | Commodity Contract under FHP          
Investments          
Total derivatives not subject to master netting or similar arrangement 0   0    
Liabilities          
Derivative Liability, Not Subject to Master Netting Arrangement 0   0   0
Fair Value, Inputs, Level 2          
Investments          
Government debt securities 47   47   57
Corporate debt securities 369   369   378
Mortgage and asset-backed securities 39   39   43
Institutional mutual funds 0   0   0
Forward debt securities contracts 16   16   11
Private credit measured at net asset value 0   0   0
Private equity funds measured at net asset value(1) 0   0   0 [1]
Private real estate funds measured at net asset value(1) 0   0   0 [1]
Commingled funds measured at net asset value(1) 0   0   0 [1]
Total investments 669   669   672
Commodity contract derivatives 10   10   7
Total 785   785   679
Liabilities          
Currency swaps 139   139   116 [2]
Interest rate swaps 707   707   840
Commodity contract derivatives 5   5   5
Total 862   862   1,122
Equity Securities, FV-NI 0   0   0
Cash, Cash Equivalents, and Short-Term Investments 198   198   183
Fair Value, Inputs, Level 2 | Commodity Contract under FHP          
Investments          
Total derivatives not subject to master netting or similar arrangement 106   106    
Liabilities          
Derivative Liability, Not Subject to Master Netting Arrangement 11   11   161
Fair Value, Inputs, Level 3          
Investments          
Government debt securities 0   0   0
Corporate debt securities 0   0   0
Mortgage and asset-backed securities 0   0   0
Institutional mutual funds 0   0   0
Forward debt securities contracts 0   0   0
Private credit measured at net asset value 0   0   0
Private equity funds measured at net asset value(1) 0   0   0 [1]
Private real estate funds measured at net asset value(1) 0   0   0 [1]
Commingled funds measured at net asset value(1) 0   0   0 [1]
Total investments 0   0   0
Commodity contract derivatives 0   0   0
Total 0   0   0
Liabilities          
Currency swaps 0   0   0 [2]
Interest rate swaps 0   0   0
Commodity contract derivatives 0   0   0
Total 0   0   0
Equity Securities, FV-NI 0   0   0
Cash, Cash Equivalents, and Short-Term Investments 0   0   0
Fair Value, Inputs, Level 3 | Commodity Contract under FHP          
Investments          
Total derivatives not subject to master netting or similar arrangement 0   0    
Liabilities          
Derivative Liability, Not Subject to Master Netting Arrangement $ 0   $ 0   $ 0
[1] Certain investments that are measured at fair value using the NAV or its equivalent (alternative investments) have not been categorized in the fair value hierarchy. The inputs to these fair value measurements include underlying NAVs, discounted cash flow valuations, comparable market valuations, and adjustments for currency, credit, liquidity, and other risks. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheets.
(6) TVA records currency swaps net of cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities. See Note 14 — Risk Management Activities and Derivative Transactions Offsetting of Derivative Assets and Liabilities.
[2] TVA records currency swaps net of cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities. See Note 14 — Risk Management Activities and Derivative TransactionsOffsetting of Derivative Assets and Liabilities.