Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 257

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 3
Chunk 257
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 and $552 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for both the three months ended December 31, 2024 and the three months ended December 31, 2023, as non-cash investing activities.  ARO project accruals included in Accounts payable and accrued liabilities at December 31, 2024 and 2023, were $40 million and $46 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023, 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.

18.  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 covers most of its full-time employees, two unfunded post-retirement health care plans that provide for non-vested contributions toward the cost of eligible retirees' medical coverage, other post-employment benefits, such as workers' compensation, the SERP, and the RP.  The pension plan and the 401(k) plan are administered by a separate legal entity, the TVA Retirement System ("TVARS"), which is governed by its own board of directors.The components of net periodic benefit cost for the three months ended December 31, 2024 and 2023, were as follows:Components of Net Periodic Benefit Cost(1)(in millions) For the Three Months Ended December 31 Pension BenefitsOther Post-Retirement Benefits 2024202320242023Service cost$8 $7 $3 $3 Interest cost131 144 4 5 Expected return on plan assets(126)(124)— — Amortization of prior service credit(22)(22)(4)(4)Recognized net actuarial loss (gain)42 25 — (1)Total net periodic benefit cost33 30 3 3 Note  (1)  The components of net benefit cost other than the service cost component are included in Other net periodic benefit cost on the Consolidated Statements of Operations.TVA's minimum required pension plan contribution for 2025 is $300 million.  TVA contributes $25 million per month to