Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 162

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 8
Chunk 162
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 loss (gain)1,689 2,226 (106)(39)Total regulatory assets (liabilities)$1,531 $1,979 $(131)$(81)

Information for the pension projected benefit obligation ("PBO") in excess of plan assets and other post-retirement accumulated postretirement benefit obligation ("APBO") has been disclosed in the Obligations and Funded Status table above.  The following table provides the pension plan accumulated benefit obligation ("ABO") in excess of plan assets.  The other post-retirement plans are unfunded or have no plan assets. Accumulated Benefit Obligations in Excess of Plan AssetsAt September 30(in millions) 20252024Accumulated benefit obligation$10,278 $10,971 Fair value of net plan assets8,594 8,673 

134

The components of net periodic benefit cost for the years ended September 30, 2025, 2024, and 2023 were as follows:Components of Net Periodic Benefit Cost (1)For the years ended September 30(in millions) Pension BenefitsOther Post-Retirement Benefits 202520242023202520242023Service cost$32 $29 $32 $11 $11 $10 Interest cost526 579 568 17 21 18 Expected return on plan assets(505)(494)(492)— — — Amortization of prior service credit(89)(89)(88)(17)(17)(17)Recognized net actuarial loss (gain)173 99 135 (1)(1)(2)Total net periodic benefit cost137 124 155 10 14 9 Special/contractual termination benefits(2)— — — 1 — — Amount expensed due to actions of regulator— — 77 — — — Total net periodic benefit cost$137 $124 $232 $11 $14 $9 Note  (1)  The components of total benefit cost other than the service cost component are included in Other net periodic benefit cost on the Consolidated Statements of Operations.(2)  Special/contractual termination benefits for certain eligible employees related to TVA's restructuring activities. See Note 3 — Restructuring.

Plan Assumptions

Plan assumptions utilized to determine benefit obligations and net periodic benefit costs include discount rates, projected health care cost trend rates