Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 296

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 2
Chunk 296
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,112 7,369 743 10.1 %Operating income517 459 58 12.6 %1,646 1,429 217 15.2 %Other income, net29 14 15 107.1 %58 55 3 5.5 %Other net periodic benefit cost27 25 2 8.0 %79 74 5 6.8 %Interest expense307 267 40 15.0 %880 795 85 10.7 %Net income$212 $181 $31 17.1 %$745 $615 $130 21.1 %

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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

Operating Revenues.  Operating revenues for the three months ended June 30, 2025 and 2024, were $3.3 billion and $2.9 billion, respectively.  Operating revenues for the nine months ended June 30, 2025 and 2024, were $9.8 billion and $8.8 billion, respectively.  The following table compares TVA's operating revenues for the periods indicated: 

Operating Revenues by Customer Type(in millions)Three Months Ended June 30Nine Months Ended June 3020252024ChangePercent Change20252024ChangePercent ChangeOperating revenuesLocal power company customers$2,967 $2,596 $371 14.3 %$8,782 $7,925 $857 10.8 %Industries directly served259 205 54 26.3 %734 642 92 14.3 %Federal agencies and other36 29 7 24.1 %100 90 10 11.1 %Revenue capitalized during pre-commercial plant operations(1)(1)— (1)— %(3)(3)— — %Other revenue45 49 (4)(8.2)%145 144 1 0.7 %Total operating revenues$3,306 $2,879 $427 14.8 %$9,758 $8,798 $960 10.9 %

Note

(1)  Represents revenue capitalized during pre-commercial operations at Johnsonville Aeroderivative CT Units 21-