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Other Long-Term Liabilities | 9 Months Ended
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Jun. 30, 2025
Other Liabilities, Noncurrent [Abstract] |
Other Long-Term Liabilities | 11. Other Long-Term Liabilities Other long-term liabilities consist primarily of liabilities related to certain derivative agreements as well as liabilities related to environmental compliance and remediation, and long-term project cost accruals. The table below summarizes the types and amounts of Other long-term liabilities:
Other Long-Term Liabilities (in millions)
| At June 30, 2025 |  | At September 30, 2024(1)
Interest rate swap liabilities | $ | 622 |  |  | $ | 792 |
Environmental compliance and remediation costs | 272 |  |  | 212 |
Long-term project cost accruals | 198 |  |  | 140 |
Currency swap liabilities | 85 |  |  | 109 |
Operating lease liabilities | 74 |  |  | 88 |
EnergyRight® financing obligation | 52 |  |  | 52 |
Long-term deferred compensation | 47 |  |  | 50 |
Long-term deferred revenue | 38 |  |  | 48 |
Accrued long-term service agreements | 20 |  |  | 7 |
Advances for construction | 15 |  |  | 55 |
Commodity contract derivative liabilities | 8 |  |  | 64 |
Other | 76 |  |  | 95 |
Total other long-term liabilities | $ | 1,507 |  |  | $ | 1,712 |
Note (1) At September 30, 2024, $7 million previously classified as Other (a component of Other long-term liabilities) has been reclassified to Accrued long-term service agreements (a component of Other long-term liabilities) to conform with current year presentation. Interest Rate Swap Liabilities. See Note 14 — 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 June 30, 2025, and September 30, 2024, the current amount of the environmental compliance and remediation costs reported in Accounts payable and accrued liabilities was $41 million and $3 million, respectively. Long-Term Project Cost Accruals. At June 30, 2025, and September 30, 2024, the current amount of the long-term project cost accruals reported in Accounts payable and accrued liabilities was $219 million and $124 million, respectively. Currency Swap Liabilities. See Note 14 — 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 June 30, 2025, and September 30, 2024, the current portion of TVA's operating leases reported in Accounts payable and accrued liabilities was $56 million and $63 million, respectively. EnergyRight® Financing Obligation. At both June 30, 2025, and September 30, 2024, the carrying amount of the financing obligation reported in Accounts payable and accrued liabilities was $13 million. See Note 8 — Other Long-Term Assets for information regarding the associated loans receivable. Long-Term Deferred Compensation. At June 30, 2025, and September 30, 2024, the current amount of deferred compensation recorded in Accounts payable and accrued liabilities was $57 million and $74 million, respectively. Long-Term Deferred Revenue. At June 30, 2025, and September 30, 2024, the current amount of deferred revenue recorded in Accounts payable and accrued liabilities was $42 million and $28 million, respectively. Accrued Long-Term Service Agreements. TVA has entered into various long-term service agreements for major maintenance activities at certain of its combined cycle plants. TVA uses the direct expense method of accounting for these arrangements. TVA accrues for parts when it takes ownership and for contractor services when they are rendered. Under certain of these agreements, parts received and services rendered exceed payments made. The current and long-term portions of the resulting obligation are recorded in Accounts payable and accrued liabilities and Other long-term liabilities, respectively, on TVA's Consolidated Balance Sheets. At June 30, 2025, and September 30, 2024, the current amount of accrued long-term service agreements recorded in Accounts payable and accrued liabilities was $11 million and $16 million, respectively. Advances for Construction. At June 30, 2025, and September 30, 2024, the current amount of advances for construction recorded in Accounts payable and accrued liabilities was $127 million and $60 million, respectively. Commodity Contract Derivative Liabilities. See Note 14 — 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.

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