Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 16

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 15
Chunk 16
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— 106 Total$1,481 $785 $— $5,033 Quoted Prices in Active Markets forIdentical Liabilities(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservableInputs(Level 3)TotalLiabilitiesCurrency swaps(6)$— $139 $— $139 Interest rate swaps— 707 — 707 Commodity contract derivatives— 5 — 5 Commodity derivatives under the FHP— 11 — 11 Total$— $862 $— $862 Notes(1)  Includes obligations of government-sponsored entities.(2)  There are $410 million of U.S. Treasury securities in Level 1 Government debt securities and $46 million of U.S. Treasury securities in Level 1 Cash equivalents and other short-term investments for a total of $456 million of U.S. Treasury securities within Level 1 of the fair value hierarchy.(3)  Includes both U.S. and foreign debt.(4)  Includes $62 million net payables (interest receivable, dividends receivable, receivables for investments sold, and payables for investments purchased), and $168 million of repurchase agreements in Level 2 Cash equivalents and other short-term investments.(5)  Certain investments that are measured at fair value using the NAV or its equivalent (alternative investments) have not been categorized in the fair value hierarchy.  The inputs to these fair value measurements include underlying NAVs, discounted cash flow valuations, comparable market valuations, and adjustments for currency, credit, liquidity, and other risks.  The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheets.(6)   TVA records currency swaps net of cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.

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Table of Contents                               Draft 4.0                    04/24/2025 5:00 PM

Fair Value MeasurementsAt September 30, 2024(in millions)Quoted Prices in Active Markets forIdentical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservableInputs(Level 3)TotalAssetsInvestments    Equity securities