Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 196

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 2
Chunk 196
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 that provide for non-vested contributions toward the cost of eligible retirees' medical coverage, other post-employment benefits, such as workers' compensation, the SERP, and the RP.  The pension plan and the 401(k) plan are administered by a separate legal entity, the TVA Retirement System ("TVARS"), which is governed by its own board of directors.The components of net periodic benefit cost for the three months ended December 31, 2024 and 2023, were as follows:Components of Net Periodic Benefit Cost(1)(in millions) For the Three Months Ended December 31 Pension BenefitsOther Post-Retirement Benefits 2024202320242023Service cost$8 $7 $3 $3 Interest cost131 144 4 5 Expected return on plan assets(126)(124)— — Amortization of prior service credit(22)(22)(4)(4)Recognized net actuarial loss (gain)42 25 — (1)Total net periodic benefit cost33 30 3 3 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.TVA's minimum required pension plan contribution for 2025 is $300 million.  TVA contributes $25 million per month to TVARS and as of December 31, 2024, had contributed $75 million.  The remaining $225 million will be contributed by September 30, 2025.  For the three months ended December 31, 2024, TVA also contributed $8 million (net of $1 million in rebates) to the other post-retirement plans. TVA expects to contribute $7 million to the SERP in 2025.

19. 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 $88 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