Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 367

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 3
Chunk 367
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 cost35 32 2 3 103 94 8 10 Special/contractual termination benefits(2)— — 1 — — — 1 — Total benefit cost$35 $32 $3 $3 $103 $94 $9 $10 Note  (1)  The components of net benefit cost other than the service cost component are included in Other net periodic benefit cost on the Consolidated Statements of Operations.(2)  Special/contractual termination benefits for certain eligible employees related to TVA's restructuring activities.  See Note 3 — Restructuring. 

TVA's minimum required pension plan contribution for 2025 is $300 million.  TVA contributes $25 million per month to TVARS and as of June 30, 2025, had contributed $225 million.  The remaining $75 million will be contributed by September 30, 2025.  For the nine months ended June 30, 2025, TVA also contributed $19 million (net of $4 million in rebates) to the other post-retirement plans and $10 million to the SERP.  In addition, TVA recognized 401(k) contribution costs of $95 million for the nine months ended June 30, 2025. 

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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

20. Collaborative ArrangementIn 2023, TVA, Ontario Power Generation, BWRX TCA sp. z.o.o., and GE Hitachi Nuclear Energy ("GEH") entered into a multi-party collaborative arrangement to advance the global deployment of the GEH BWRX-300 small modular reactor.  GEH is responsible for standard design development.  Under the agreement, TVA will contribute up to $93 million for design costs incurred by GEH through 2026.  At the time feasibility is determined, TVA will have the right to use the design and may receive additional economic benefits.Payments pursuant to the agreement are recorded as research and development expense, which is reflected as Operating and maintenance expense on TVA's Consolidated Statement of Operations in the period incurred.  TVA recorded no expenses related to this agreement for the three months ended June 30, 2025 and $12 million of expenses for the three months ended June 30, 2024.  TVA