Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 195

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 2
Chunk 195
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 customers in targeted business sectors that make multi-year commitments to invest in the Tennessee Valley.  TVA records those incentives as reductions of revenue.  Incentives recorded as a reduction to revenue were $85 million and $73 million for the three months ended December 31, 2024 and 2023, respectively.  Incentives that have been approved but have not been paid are recorded in Accounts payable and accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets.  At December 31, 2024, and September 30, 2024, the outstanding unpaid incentives were $189 million and $187 million, respectively.  Incentives that have been paid out may be subject to claw back if the customer fails to meet certain program requirements. 

16.  Other Income, Net 

Income and expenses not related to TVA's operating activities are summarized in the following table:Other Income, Net(in millions) Three Months Ended December 31 20242023Interest income$10 $10 External services9 4 Gains (loss) on investments(2)9 Total other income, net$17 $23 

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17.  Supplemental Cash Flow Information 

Construction in progress and nuclear fuel expenditures included in Accounts payable and accrued liabilities at December 31, 2024 and 2023, were $1.0 billion and $552 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for both the three months ended December 31, 2024 and the three months ended December 31, 2023, as non-cash investing activities.  ARO project accruals included in Accounts payable and accrued liabilities at December 31, 2024 and 2023, were $40 million and $46 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023, as non-cash operating activities.Cash flows from swap contracts that are accounted for as hedges are classified in the same category as the item beinghedged or on a basis consistent with the nature of the instrument.

18.  Benefit Plans 

TVA sponsors a pension plan that covers most of its full-time employees hired before July 1, 2014, a qualified defined contribution plan ("401(k) plan") that covers most of its full-time employees, two unfunded post-retirement health care plans