Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 254

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 2
Chunk 254
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  At September 30, 2024, $7 million previously classified as Other (a component of Other long-term liabilities) has been reclassified to Accrued long-term service agreements (a component of Other long-term liabilities) to conform with current year presentation.Interest Rate Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Derivatives Not Receiving Hedge Accounting Treatment — Interest Rate Derivatives for information regarding the interest rate swap liabilities.Environmental Compliance and Remediation Costs.  At June 30, 2025, and September 30, 2024, the current amount of the environmental compliance and remediation costs reported in Accounts payable and accrued liabilities was $41 million and $3 million, respectively.Long-Term Project Cost Accruals.  At June 30, 2025, and September 30, 2024, the current amount of the long-term project cost accruals reported in Accounts payable and accrued liabilities was $219 million and $124 million, respectively.  Currency Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Cash Flow Hedging Strategy for Currency Swaps for more information regarding the currency swap liabilities.Operating Lease Liabilities.  At June 30, 2025, and September 30, 2024, the current portion of TVA's operating leases reported in Accounts payable and accrued liabilities was $56 million and $63 million, respectively.EnergyRight® Financing Obligation.  At both June 30, 2025, and September 30, 2024, the carrying amount of the financing obligation reported in Accounts payable and accrued liabilities was $13 million.  See Note 8 — Other Long-Term Assets for information regarding the associated loans receivable.Long-Term Deferred Compensation.  At June 30, 2025, and September 30, 2024, the current amount of deferred compensation recorded in Accounts payable and accrued liabilities was $57 million and $74 million, respectively.Long-Term Deferred Revenue.  At June 30, 2025, and September 30, 2024, the current amount of deferred revenue recorded in Accounts payable and accrued liabilities was $42 million and $28 million, respectively.Accrued Long-Term Service Agreements.  TVA has entered into various long-term service agreements for major maintenance activities at certain of its combined cycle plants.  TV