Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 176

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 176
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52 million were reported in Fuel expense and Purchased power expense, respectively, and of the amount recognized for the nine months ended June 30, 2024, $186 million and $41 million were reported in Fuel expense and Purchased power expense, respectively.Fair Values of TVA Derivatives(in millions) At June 30, 2025At September 30, 2024Derivatives That Receive Hedge Accounting Treatment:BalanceBalance Sheet PresentationBalanceBalance Sheet PresentationCurrency swaps    £250 million Sterling$(35)Accounts payable and accrued liabilities $(4); Other long-term liabilities $(31)$(49)Accounts payable and accrued liabilities $(4); Other long-term liabilities $(45)£150 million Sterling(56)Accounts payable and accrued liabilities $(2); Other long-term liabilities $(54)(67)Accounts payable andaccrued liabilities $(3); Other long-term liabilities $(64)Derivatives That Do Not Receive Hedge Accounting Treatment:BalanceBalance Sheet PresentationBalanceBalance Sheet PresentationInterest rate swaps    $1.0 billion notional$(508)Accounts payable andaccrued liabilities $(30); Accrued interest $(8); Other long-term liabilities$(470)$(622)Accounts payable andaccrued liabilities $(10); Accrued interest $(26); Other long-term liabilities $(586)$476 million notional(165)Accounts payable andaccrued liabilities $(12); Accrued interest $(1);Other long-term liabilities$(152)(218)Accounts payable andaccrued liabilities $(3); Accrued interest $(9);Other long-term liabilities$(206)Commodity contract derivatives1 Other current assets $6; Accounts payable and accrued liabilities $(3); Other long-term liabilities $(2)2 Other current assets $5; Other long-term assets $2; Accounts payable and accrued liabilities $(3); Other long-term liabilities $(2)Commodity derivatives under the FHP(1)Other long-term assets $17; Other current assets $7; Accounts payable and accrued liabilities $(19); Other long-term liabilities $(6)(161)Accounts payable and accrued liabilities $(99); Other long-term liabilities $(62)

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

Cash Flow Hedging Strategy for Currency SwapsTo protect against exchange rate risk related to British pound sterling denominated Bond transactions, TVA entered into foreign currency hedges at the time the Bond transactions occurred.