Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 149

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 149
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ITEM 1.  FINANCIAL STATEMENTS

TENNESSEE VALLEY AUTHORITY

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in millions)

 Three Months Ended June 30Nine Months Ended June 30 2025202420252024Operating revenues    Revenue from sales of electricity$3,261 $2,830 $9,613 $8,654 Other revenue45 49 145 144 Total operating revenues3,306 2,879 9,758 8,798 Operating expenses    Fuel589 424 1,674 1,561 Purchased power550 408 1,516 1,139 Operating and maintenance922 915 2,771 2,671 Depreciation and amortization572 542 1,691 1,593 Tax equivalents156 131 460 405 Total operating expenses2,789 2,420 8,112 7,369 Operating income517 459 1,646 1,429 Other income, net29 14 58 55 Other net periodic benefit cost27 25 79 74 Interest expense307 267 880 795 Net income$212 $181 $745 $615 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 June 30Nine Months Ended June 30 2025202420252024Net income$212 $181 $745 $615 Other comprehensive income (loss)Net unrealized gain (loss) on cash flow hedges47 1 24 17 Net unrealized (gain) loss reclassified to earnings from cash flow hedges(38)(7)(15)(20)Total other comprehensive income (loss)9 (6)9 (3)Total comprehensive income$221 $175 $754 $612 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 June 30, 202