Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 123

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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 in the fair value hierarchy levels.Fair Value MeasurementsAt December 31, 2024(in millions)Quoted Prices in Active Markets forIdentical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservableInputs(Level 3)TotalAssetsInvestments    Equity securities$704 $— $— $704 Government debt securities(1)(2)398 56 — 454 Corporate debt securities(3)— 378 — 378 Mortgage and asset-backed securities— 41 — 41 Institutional mutual funds337 — — 337 Forward debt securities contracts— 9 — 9 Cash equivalents and other short-term investments(2)(4)49 215 — 264 Private equity funds measured at net asset value(5)— — — 765 Private real asset funds measured at net asset value(5)— — — 441 Private credit funds measured at net asset value(5)— — — 258 Commingled funds measured at net asset value(5)— — — 1,268 Total investments1,488 699 — 4,919 Commodity contract derivatives— 12 — 12 Commodity derivatives under the FHP— 6 — 6 Total$1,488 $717 $— $4,937 Quoted Prices in Active Markets forIdentical Liabilities(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservableInputs(Level 3)TotalLiabilitiesCurrency swaps(6)$— $136 $— $136 Interest rate swaps— 635 — 635 Commodity contract derivatives— 6 — 6 Commodity derivatives under the FHP— 81 — 81 Total$— $858 $— $858 Notes(1)  Includes obligations of government-sponsored entities.(2)  There are $398 million of U.S. Treasury securities in Level 1 Government debt securities and $49 million of U.S. Treasury securities in Level 1 Cash equivalents and other short-term investments for a total of $447 million of U.S. Treasury securities within Level 1 of the fair value hierarchy.(3)  Includes both U.S. and foreign debt.(4)  Includes $76 million net payables (interest receivable, dividends receivable, receiv