Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 89

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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ASH FLOWS (Unaudited)

 For the Three Months Ended December 31 

 (in millions)

 20242023Cash flows from operating activities  Net income$125 $127 Adjustments to reconcile net income to net cash provided by operating activities  Depreciation and amortization(1)563 527 Amortization of nuclear fuel cost75 99 Non-cash retirement benefit expense36 33 Other regulatory amortization and deferrals22 46 Changes in current assets and liabilitiesAccounts receivable, net116 153 Inventories and other current assets, net(68)(105)Accounts payable and accrued liabilities(234)(201)Accrued interest12 (2)Pension contributions(75)(75)Settlements of asset retirement obligation(73)(88)Other, net(49)(121)Net cash provided by operating activities450 393 Cash flows from investing activities  Construction expenditures(1,209)(863)Nuclear fuel expenditures(159)(146)Purchases of investments(4)(1)Loans and other receivables  Advances— (4)Repayments1 2 Other, net(7)10 Net cash used in investing activities(1,378)(1,002)Cash flows from financing activities  Long-term debt  Issues of variable interest entities800 — Redemptions and repurchases of power bonds(1)(1)Short-term debt issues, net189 610 Payments on leases and leasebacks(12)(10)Financing costs, net(12)— Other, net(6)7 Net cash provided by financing activities958 606 Net change in cash, cash equivalents, and restricted cash30 (3)Cash, cash equivalents, and restricted cash at beginning of period523 521 Cash, cash equivalents, and restricted cash at end of period$553 $518 Note(1)  Includes amortization of debt issuance costs and premiums/discounts.The accompanying notes are an integral part of these consolidated financial statements.

10

TENNESSEE VALLEY AUTHORITY

CONSOLIDATED STATEMENTS OF CHANGES IN PROPRIETARY CAPITAL (Unaudited)

For the Three Months Ended December 31, 2024 and 2023

 Power Program Appropriation Investment Power Program Retained EarningsNonpower Programs Appropriation Investment, NetAccumulatedOtherComprehensiveIncome (Loss)  TotalBalance at