Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 131

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 3
Chunk 131
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— 369 Mortgage and asset-backed securities— 39 — 39 Institutional mutual funds333 — — 333 Forward debt securities contracts— 16 — 16 Cash equivalents and other short-term investments(2)(4)46 198 — 244 Private equity funds measured at net asset value(5)— — — 762 Private real asset funds measured at net asset value(5)— — — 450 Private credit funds measured at net asset value(5)— — — 263 Commingled funds measured at net asset value(5)— — — 1,292 Total investments1,481 669 — 4,917 Commodity contract derivatives— 10 — 10 Commodity derivatives under the FHP— 106 — 106 Total$1,481 $785 $— $5,033 Quoted Prices in Active Markets forIdentical Liabilities(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservableInputs(Level 3)TotalLiabilitiesCurrency swaps(6)$— $139 $— $139 Interest rate swaps— 707 — 707 Commodity contract derivatives— 5 — 5 Commodity derivatives under the FHP— 11 — 11 Total$— $862 $— $862 Notes(1)  Includes obligations of government-sponsored entities.(2)  There are $410 million of U.S. Treasury securities in Level 1 Government debt securities and $46 million of U.S. Treasury securities in Level 1 Cash equivalents and other short-term investments for a total of $456 million of U.S. Treasury securities within Level 1 of the fair value hierarchy.(3)  Includes both U.S. and foreign debt.(4)  Includes $62 million net payables (interest receivable, dividends receivable, receivables for investments sold, and payables for investments purchased), and $168 million of repurchase agreements in Level 2 Cash equivalents and other short-term investments.(5)  Certain investments that are measured at fair value using the NAV or its equivalent (alternative investments) have not been categorized in the fair value hierarchy.  The inputs to these fair value measurements include underlying NAVs, discounted cash flow valuations, comparable market valuations, and adjustments for currency, credit, liquidity, and other risks.