Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 373

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 5
Chunk 373
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 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 March 31, 2025, and September 30, 2024, the current amount of deferred compensation recorded in Accounts payable and accrued liabilities was $44 million and $74 million, respectively.Long-Term Deferred Revenue.  At March 31, 2025, and September 30, 2024, the current amount of deferred revenue recorded in Accounts payable and accrued liabilities was $41 million and $28 million, respectively.Advances for Construction.  At March 31, 2025, and September 30, 2024, the current amount of advances for construction recorded in Accounts payable and accrued liabilities was $105 million and $60 million, respectively.

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Commodity Contract Derivative Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Derivatives Not Receiving Hedge Accounting Treatment — Commodity Derivatives and — Commodity Derivatives under the FHP for a discussion of TVA's commodity contract derivatives.

12.  Asset Retirement Obligations

During the six months ended March 31, 2025, TVA's total asset retirement obligations ("ARO") liability increased $72 million as a result of increases from periodic accretion, partially offset by revisions in estimate to non-nuclear asset AROs and settlements related to retirement projects that were conducted during the period.  The nuclear and non-nuclear accretion amounts were deferred as regulatory assets.  During the six months ended March 31, 2025, $110 million of the related regulatory assets were amortized into expense as these amounts were collected in rates.  See Note 9 — Regulatory Assets and Liabilities.  TVA maintains investment trusts to help fund its decommissioning obligations.  See Note 15 — Fair Value Measurements — Investment Funds and Note 21 — Contingencies and Legal Proceedings — Contingencies — Decommissioning Costs for a discussion of the trusts' objectives and the current balances of the trusts.Asset Retirement Obligation Activity(in millions) NuclearNon-nuclearTotalBalance at September 30, 2024$3,814 $6,992 $10,806 (