Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 62

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 6
Chunk 62
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 Accounting Policies892Impact of New Accounting Standards and Interpretations953Restructuring964Accounts Receivable, Net975Inventories, Net976Other Current Assets987Net Completed Plant988Plant Closures989Leases9910Other Long-Term Assets10211Regulatory Assets and Liabilities10412Variable Interest Entities10613Other Long-Term Liabilities10914Asset Retirement Obligations11015Debt and Other Obligations11216Risk Management Activities and Derivative Transactions11617Fair Value Measurements12218Revenue12819Other Income, Net13020Supplemental Cash Flow Information13121Benefit Plans13122Collaborative Arrangement14423Commitments and Contingencies14424Related Parties14825Segment Reporting149

1.  Summary of Significant Accounting Policies GeneralThe Tennessee Valley Authority ("TVA") is a corporate agency and instrumentality of the United States ("U.S.") that was created in 1933 by federal legislation in response to a proposal by President Franklin D. Roosevelt.  TVA was created to, among other things, improve navigation on the Tennessee River, reduce the damage from destructive flood waters within the Tennessee River system and downstream on the lower Ohio and Mississippi Rivers, further the economic development of TVA's service area in the southeastern U.S., and sell the electricity generated at the facilities TVA operates.  Today, TVA operates the nation's largest public power system and supplies power in most of Tennessee, northern Alabama, northeastern Mississippi, and southwestern Kentucky and in portions of northern Georgia, western North Carolina, and southwestern Virginia to a population of approximately 10 million people.    TVA also manages the Tennessee River, its tributaries, and certain shorelines to provide, among other things, year-round navigation, flood damage reduction, and affordable and reliable electricity.  Consistent with these primary purposes, TVA also manages the river system and public lands to provide recreational opportunities, adequate water supply, improved water quality, cultural and natural resource protection, and economic development.  TVA performs these management duties in cooperation with other federal and state agencies that have jurisdiction and authority over certain aspects of the river system.  In addition, the TVA Board of Directors ("TVA Board") has established two councils — the Regional Resource Stewardship Council and the Regional Energy Resource Council — to advise TVA on its stewardship activities in the Tennessee Valley and its energy resource activities.The power program has historically been separate and distinct from the stewardship programs.  It is required to be self-supporting from