Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 26

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 15
Chunk 26
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9)(9)Recognized net actuarial loss (gain)45 25 — 1 87 50 — — Total net periodic benefit cost35 32 3 4 68 62 6 7 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 TVARS and as of March 31, 2025, had contributed $150 million.  The remaining $150 million will be contributed by September 30, 2025.  For the six months ended March 31, 2025, TVA also contributed $66 million to the 401(k) plan, $13 million (net of $2 million in rebates) to the other post-retirement plans, and $4 million to the SERP.

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

20. Collaborative ArrangementIn 2023, TVA, Ontario Power Generation, BWRX TCA sp. z.o.o., and GE Hitachi Nuclear Energy ("GEH") entered into a multi-party collaborative arrangement to advance the global deployment of the GEH BWRX-300 small modular reactor.  GEH is responsible for standard design development.  Under the agreement, TVA will contribute up to $93 million for design costs incurred by GEH through 2026.  At the time feasibility is determined, TVA will have the right to use the design and may receive additional economic benefits.Payments pursuant to the agreement are recorded as research and development expense, which is reflected as Operating and maintenance expense on TVA's Consolidated Statement of Operations in the period incurred.  TVA recorded $3 million and $8 million of expenses related to this agreement for the three months ended March 31, 2025 and 2024, respectively.  TVA recorded $10 million and $17 million of expenses related to this agreement for the six months ended March 31, 2025 and 2024, respectively.  TVA also had a $6 million letter of credit posted under this arrangement at March 31, 2025.

 21.  Contingencies and Legal Proceedings 

Conting