Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 401

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 5
Chunk 401
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 were $168 million and $153 million for the six months ended March 31, 2025 and 2024, respectively.  Incentives that have been approved but have not been paid are recorded in Accounts payable and accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets.  At March 31, 2025, and September 30, 2024, the outstanding unpaid incentives were $194 million and $187 million, respectively.  Incentives that have been paid out may be subject to claw back if the customer fails to meet certain program requirements. 

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

17.  Other Income, Net 

Income and expenses not related to TVA's operating activities are summarized in the following table:Other Income, Net(in millions) Three Months Ended March 31Six Months Ended March 31 2025202420252024Interest income$11 $10 $21 $20 External services5 4 14 8 Gains (loss) on investments— 5 (2)14 Miscellaneous(4)(1)(4)(1)Total other income, net$12 $18 $29 $41 

18.  Supplemental Cash Flow Information 

Construction in progress and nuclear fuel expenditures included in Accounts payable and accrued liabilities at March 31, 2025 and 2024, were $953 million and $568 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the six months ended March 31, 2025 and 2024 as non-cash investing activities.  ARO project accruals included in Accounts payable and accrued liabilities at March 31, 2025 and 2024, were $35 million and $47 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the six months ended March 31, 2025 and 2024, as non-cash operating activities.Cash flows from swap contracts that are accounted for as hedges are classified in the same category as the item beinghedged or on a basis consistent with the nature of the instrument.

19.  Benefit Plans 

TVA sponsors a pension plan that covers most of its full-time employees hired before July 1, 2014, a qualified defined contribution plan ("401(k) plan") that