Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 159

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 2
Chunk 159
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aggregation of Income Statement ExpensesDescriptionThis guidance improves the disclosures about a public entity's expenses in the notes to financial statements and requires disclosure of specified information about certain costs and expenses.  The amendment requires a public entity to disclose, on an annual and interim basis, purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion for each income statement line item that contains those expenses.  Specified expenses, gains, or losses that are already disclosed under existing US GAAP are required to be included in the disaggregated income statement expense line item disclosures, and any relevant remaining amounts need to be described qualitatively. Separate disclosures of total selling expenses and an entity’s definition of those expenses are also required.  The amendment is effective for public entities for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027.  Upon adoption, a public entity can apply the amendments prospectively or apply them retrospectively to all prior periods presented in the financial statements.Effective Date for TVAFiscal year beginning October 1, 2027, and interim periods beginning October 1, 2028.Effect on the Financial Statements or Other Significant MattersThe adoption of this standard will result in TVA including the additional required disclosures, and TVA does not expect an impact on its financial condition, results of operations, or cash flows.

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3.  Accounts Receivable, Net 

Accounts receivable primarily consist of amounts due from customers for power sales.  The table below summarizes the types and amounts of TVA's accounts receivable:Accounts Receivable, Net(in millions) At December 31, 2024At September 30, 2024Power receivables$1,569 $1,683 Other receivables140 118 Accounts receivable, net(1)$1,709 $1,801 Note(1)  Allowance for uncollectible accounts was less than $1 million at both December 31, 2024, and September 30, 2024, and therefore is not represented in the table above.

4.  Inventories, Net 

The table below summarizes the types and amounts of TVA's inventories:Inventories, Net(in millions) At December 31, 2024At September 30, 2024Materials and supplies inventory$954 $931 Fuel inventory310