Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 133

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 3
Chunk 133
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 government-sponsored entities.(2)  There are $400 million of U.S. Treasury securities in Level 1 Government debt securities and $95 million of U.S. Treasury securities in Level 1 Cash equivalents and other short-term investments for a total of $495 million of U.S. Treasury securities within Level 1 of the fair value hierarchy.(3)  Includes both U.S. and foreign debt.(4)  Includes $78 million net payables (interest receivable, dividends receivable, receivables for investments sold, and payables for investments purchased), and $174 million of repurchase agreements in Level 2 Cash equivalents and other short-term investments.(5)  Certain investments that are measured at fair value using the NAV or its equivalent (alternative investments) have not been categorized in the fair value hierarchy.  The inputs to these fair value measurements include underlying NAVs, discounted cash flow valuations, comparable market valuations, estimated benchmark yields, and adjustments for currency, credit, liquidity, and other risks.  The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheets.(6)  TVA records currency swaps net of cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.        

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

Other Financial Instruments Not Recorded at Fair Value        TVA uses the methods and assumptions described below to estimate the fair value of each significant class of financial instruments.  The fair value of the financial instruments held at March 31, 2025, and September 30, 2024, may not be representative of the actual gains or losses that will be recorded when these instruments mature or are called or presented for early redemption.  The estimated values of TVA's financial instruments not recorded at fair value at March 31, 2025, and September 30, 2024, were as follows:Estimated Values of Financial Instruments Not Recorded at Fair Value(in millions) At March 31, 2025At September 30, 2024 Valuation ClassificationCarryingAmountFairValueCarryingAmountFairValueEnergyRight® receivables, net (including current portion)Level 2