Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 452

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 11
Chunk 452
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11.  Other Long-Term LiabilitiesOther long-term liabilities consist primarily of liabilities related to certain derivative agreements as well as liabilities related to operating leases.  The table below summarizes the types and amounts of Other long-term liabilities:Other Long-Term Liabilities(in millions) At March 31, 2025At September 30, 2024Interest rate swap liabilities$657 $792 Environmental compliance and remediation costs247 212 Long-term project cost accruals181 140 Currency swap liabilities131 109 Operating lease liabilities80 88 EnergyRight® financing obligation52 52 Long-term deferred compensation41 50 Long-term deferred revenue 38 48 Advances for construction22 55 Commodity contract derivative liabilities13 64 Other89 102 Total other long-term liabilities$1,551 $1,712 Interest Rate Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Derivatives Not Receiving Hedge Accounting Treatment — Interest Rate Derivatives for information regarding the interest rate swap liabilities.Environmental Compliance and Remediation Costs.  At March 31, 2025, and September 30, 2024, the current amount of the environmental compliance and remediation costs reported in Accounts payable and accrued liabilities was $28 million and $3 million, respectively.Long-Term Project Cost Accruals.  At March 31, 2025, and September 30, 2024, the current amount of the long-term project cost accruals reported in Accounts payable and accrued liabilities was $213 million and $124 million, respectively.  Currency Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Cash Flow Hedging Strategy for Currency Swaps for more information regarding the currency swap liabilities.Operating Lease Liabilities.  At March 31, 2025, and September 30, 2024, the current portion of TVA's operating leases reported in Accounts payable and accrued liabilities was $65 million and $63 million, respectively.EnergyRight® Financing Obligation.  At both March 31, 2025, and September 30, 2024, the carrying amount of the financing obligation reported in Accounts payable and accrued liabilities was $13 million.  See Note 8 — Other Long-Term Assets for information regarding the associated loans receivable.Long-Term Deferred Compensation.