Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 78

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 6
Chunk 78
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 and maintenance expense; and $2 million related to interest was recorded to Other income, net.  There were no tax credits recorded in 2024.  TVA received $26 million in October 2025 related to these credits.  

5.  Inventories, Net

The table below summarizes the types and amounts of TVA's inventories:Inventories, Net At September 30(in millions) 20252024Materials and supplies inventory$986 $931 Fuel inventory278 286 Renewable energy certificates/emissions allowance inventory, net12 11 Allowance for inventory obsolescence(83)(73)Inventories, net$1,193 $1,155 

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6. Other Current AssetsOther current assets consisted of the following:Other Current Assets At September 30(in millions) 20252024(1)Inventory work-in-progress$69 $41 Prepaid software maintenance25 22 Prepaid insurance16 19 Current portion of prepaid long-term service agreements16 7 Commodity contract derivative assets14 5 Prepaid dues & fees7 6 Cloud assets3 13 Other12 7 Other current assets$162 $120 Note(1)  At September 30, 2024, $6 million previously classified as Other (a component of Other current assets) has been reclassified to Prepaid dues & fees (a component of Other current assets) to conform to current year presentation.Commodity Contract Derivative Assets.  TVA enters into certain derivative contracts for natural gas that require physical

delivery of the contracted quantity of the commodity as well as certain financial derivative contracts to hedge exposure to the price of natural gas.  Commodity contract derivative assets classified as current include deliveries or settlements that will occur within 12 months or less.  See Note 16 — Risk Management Activities and Derivative Transactions — Derivatives Not Receiving Hedge Accounting Treatment — Commodity Contract Derivatives and — Commodity Derivatives under the FHP for a discussion of TVA's commodity contract derivatives.