Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 193

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 193
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ITEM 1.  FINANCIAL STATEMENTS

TENNESSEE VALLEY AUTHORITY

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in millions)

 Three Months Ended March 31Six Months Ended March 31 2025202420252024Operating revenues    Revenue from sales of electricity$3,476 $3,093 $6,352 $5,824 Other revenue56 61 100 95 Total operating revenues3,532 3,154 6,452 5,919 Operating expenses    Fuel580 641 1,085 1,137 Purchased power572 372 966 731 Operating and maintenance944 889 1,849 1,756 Depreciation and amortization562 530 1,119 1,051 Tax equivalents158 141 304 274 Total operating expenses2,816 2,573 5,323 4,949 Operating income716 581 1,129 970 Other income, net12 18 29 41 Other net periodic benefit cost27 26 52 49 Interest expense293 266 573 528 Net income$408 $307 $533 $434 The accompanying notes are an integral part of these consolidated financial statements.

TENNESSEE VALLEY AUTHORITY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)

(in millions)

 Three Months Ended March 31Six Months Ended March 31 2025202420252024Net income$408 $307 $533 $434 Other comprehensive income (loss)Net unrealized gain (loss) on cash flow hedges(4)(4)(23)16 Net unrealized (gain) loss reclassified to earnings from cash flow hedges(14)6 23 (13)Total other comprehensive income (loss)(18)2 — 3 Total comprehensive income$390 $309 $533 $437 The accompanying notes are an integral part of these consolidated financial statements.

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TENNESSEE VALLEY AUTHORITY

CONSOLIDATED BALANCE SHEETS (Unaudited)

(in millions)

ASSETS March 31, 2025September 30,