Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 195

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 195
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867 Long-term debt of variable interest entities, net1,656 897 Total long-term debt, net19,385 18,764 Total liabilities41,615 40,542 Contingencies and legal proceedings (Note 21)Proprietary capital  Power program appropriation investment258 258 Power program retained earnings16,970 16,437 Total power program proprietary capital17,228 16,695 Nonpower programs appropriation investment, net514 518 Accumulated other comprehensive loss(52)(52)Total proprietary capital17,690 17,161 Total liabilities and proprietary capital$59,305 $57,703 The accompanying notes are an integral part of these consolidated financial statements.

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

 TENNESSEE VALLEY AUTHORITY

 CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

 For the Six Months Ended March 31 

 (in millions)

 20252024Cash flows from operating activities  Net income$533 $434 Adjustments to reconcile net income to net cash provided by operating activities  Depreciation and amortization(1)1,130 1,062 Amortization of nuclear fuel cost139 190 Non-cash retirement benefit expense74 69 Other regulatory amortization and deferrals(150)(4)Changes in current assets and liabilitiesAccounts receivable, net91 300 Inventories and other current assets, net(58)(59)Accounts payable and accrued liabilities10 (221)Accrued interest53 19 Pension contributions(154)(153)Settlements of asset retirement obligation(133)(146)Other, net(74)(60)Net cash provided by operating activities1,461 1,431 Cash flows from investing activities  Construction expenditures(2,396)(1,625)Nuclear fuel expenditures(172)(170)Purchases of investments(4)(3)Loans and other receivables  Advances— (4)Repayments6 4 Other, net(16)26 Net cash used in investing activities(2,582)(1,772)Cash flows from financing activities  Long-term debt  Issues of power bonds1,231 — Issues of variable interest entities800 — Redemptions and rep