Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 151

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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 debt of variable interest entities, net1,651 897 Total long-term debt, net20,880 18,764 Total liabilities41,976 40,542 Contingencies and legal proceedings (Note 21)Proprietary capital  Power program appropriation investment258 258 Power program retained earnings17,182 16,437 Total power program proprietary capital17,440 16,695 Nonpower programs appropriation investment, net512 518 Accumulated other comprehensive loss(43)(52)Total proprietary capital17,909 17,161 Total liabilities and proprietary capital$59,885 $57,703 The accompanying notes are an integral part of these consolidated financial statements.

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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

 TENNESSEE VALLEY AUTHORITY

 CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

 For the Nine Months Ended June 30 

 (in millions)

 20252024Cash flows from operating activities  Net income$745 $615 Adjustments to reconcile net income to net cash provided by operating activities  Depreciation and amortization(1)1,707 1,610 Amortization of nuclear fuel cost208 282 Non-cash retirement benefit expense112 104 Other regulatory amortization and deferrals(38)(49)Changes in current assets and liabilitiesAccounts receivable, net(76)74 Inventories and other current assets, net(67)(122)Accounts payable and accrued liabilities3 (56)Accrued interest31 (19)Pension contributions(235)(229)Settlements of asset retirement obligation(190)(214)Other, net(124)(57)Net cash provided by operating activities2,076 1,939 Cash flows from investing activities  Construction expenditures(3,442)(2,381)Nuclear fuel expenditures(198)(190)Purchases of investments(4)(3)Loans and other receivables  Advances— (4)Repayments10 5 Other, net6 27 Net cash used in investing activities(3,628)(2,546)Cash flows from financing activities  Long-term debt  Issues of power bonds2,722 — Proceeds from variable interest entities800 — Redemptions and repurchases of