Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 153

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 153
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 Months Ended June 30, 2025 and 2024

(in millions)

 Power Program Appropriation Investment Power Program Retained EarningsNonpower Programs Appropriation Investment, NetAccumulatedOtherComprehensiveIncome (Loss)  TotalBalance at September 30, 2023$258 $15,302 $525 $(29)$16,056 Net income (loss)— 620 (5)— 615 Total other comprehensive loss— — — (3)(3)Return on power program appropriation investment— (5)— — (5)Balance at June 30, 2024$258 $15,917 $520 $(32)$16,663 Balance at September 30, 2024$258 $16,437 $518 $(52)$17,161 Net income (loss)— 751 (6)— 745 Total other comprehensive income— — — 9 9 Return on power program appropriation investment— (6)— — (6)Balance at June 30, 2025$258 $17,182 $512 $(43)$17,909 The accompanying notes are an integral part of these consolidated financial statements.

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

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(Dollars in millions except where noted)

NotePage1Summary of Significant Accounting Policies122Impact of New Accounting Standards and Interpretations143Restructuring154Accounts Receivable, Net155Inventories, Net156Other Current Assets167Plant Closures168Other Long-Term Assets179Regulatory Assets and Liabilities1810Variable Interest Entities1811Other Long-Term Liabilities2112Asset Retirement Obligations2213Debt and Other Obligations2214Risk Management Activities and Derivative Transactions2415Fair Value Measurements2916Revenue3517Other Income, Net3818Supplemental Cash Flow Information3819Benefit Plans3820Collaborative Arrangement3921Contingencies and Legal Proceedings39

1.  Summary of Significant Accounting Policies 

GeneralThe Tennessee Valley Authority ("TVA") prepares its consolidated interim financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") for consolidated interim financial information.  Accordingly, TVA's consolidated interim financial