Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 251

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 3
Chunk 251
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 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, estimated benchmark yields, 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 13 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.        

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Other Financial Instruments Not Recorded at Fair Value        TVA uses the methods and assumptions described below to estimate the fair value of each significant class of financial instruments.  The fair value of the financial instruments held at December 31, 2024, and September 30, 2024, may not be representative of the actual gains or losses that will be recorded when these instruments mature or are called or presented for early redemption.  The estimated values of TVA's financial instruments not recorded at fair value at December 31, 2024, and September 30, 2024, were as follows:Estimated Values of Financial Instruments Not Recorded at Fair Value(in millions) At December 31, 2024At September 30, 2024 Valuation ClassificationCarryingAmountFairValueCarryingAmountFairValueEnergyRight® receivables, net (including current portion)Level 2$56 $56 $56 $56 Loans and other long-term receivables, net (including current portion)Level 294 86 105 99 EnergyRight® financing obligations (including current portion)Level 265 74 66 74 Membership interests of VIEs subject to mandatory redemption (including current portion)Level 217 18 17 19 Long-term outstanding power bonds, net (including current maturities)Level 218,857 18,356 18,889 19,416 Long-term debt of VIEs, net (including current maturities)Level 21,721 1,694 934 966 The carrying values of Cash and cash equivalents, Restricted cash and cash equivalents, Accounts receivable, net, and Short-term debt, net