Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 356

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 10
Chunk 356
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10.  Other Long-Term LiabilitiesOther 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, 2024At September 30, 2024Interest rate swap liabilities$589 $792 Environmental compliance and remediation costs210 212 Long-term project cost accruals160 140 Currency swap liabilities127 109 Operating lease liabilities93 88 EnergyRight® financing obligation52 52 Long-term deferred revenue 49 48 Long-term deferred compensation37 50 Commodity contract derivative liabilities32 64 Advances for construction32 55 Other98 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.

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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