Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 254

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 254
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,323 4,949 374 7.6 %Operating income716 581 135 23.2 %1,129 970 159 16.4 %Other income, net12 18 (6)(33.3)%29 41 (12)(29.3)%Other net periodic benefit cost27 26 1 3.8 %52 49 3 6.1 %Interest expense293 266 27 10.2 %573 528 45 8.5 %Net income$408 $307 $101 32.9 %$533 $434 $99 22.8 %

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Table of Contents                               Draft 4.0                    04/24/2025 5:00 PM

Operating Revenues.  Operating revenues for the three months ended March 31, 2025 and 2024, were $3.5 billion and $3.2 billion, respectively.  Operating revenues for the six months ended March 31, 2025 and 2024, were $6.5 billion and $5.9 billion, respectively.  The following table compares TVA's operating revenues for the periods indicated: 

Operating Revenues by Customer Type(in millions)Three Months Ended March 31Six Months Ended March 3120252024ChangePercent Change20252024ChangePercent ChangeOperating revenuesLocal power company customers$3,199 $2,842 $357 12.6 %$5,815 $5,329 $486 9.1 %Industries directly served245 221 24 10.9 %475 438 37 8.4 %Federal agencies and other34 30 4 13.3 %64 60 4 6.7 %Revenue capitalized during pre-commercial plant operations(1)(2)— (2)— %(2)(3)1 (33.3)%Other revenue56 61 (5)(8.2)%100 95 5 5.3 %Total operating revenues$3,532 $3,154 $378 12.0 %$6,452 $5,919 $533 9.0 %

Note

(1)  Represents revenue capitalized during pre-commercial operations at Johnsonville Aeroderivative CT Units 21