Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 265

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 265
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  Incentives that have been approved but have not been paid are recorded in Accounts payable and accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets.  At September 30, 2025 and 2024, the outstanding unpaid incentives were $193 million and $187 million, respectively.  Incentives that have been paid out may be subject to claw back if the customer fails to meet certain program requirements.  

19.  Other Income, Net Income and expenses not related to TVA's operating activities are summarized in the following table:Other Income, NetFor the years ended September 30(in millions) 202520242023Interest income$52 $42 $34 External services28 17 15 Gains (losses) on investments14 23 13 Miscellaneous(2)(11)(1)Total other income, net$92 $71 $61 

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20.  Supplemental Cash Flow Information 

    Interest paid was $1.1 billion in each of 2025, 2024, and 2023.  These amounts differ from interest expense in certain years due to the timing of payments.  There was no interest capitalized in 2025, 2024, or 2023.

    Construction in progress and nuclear fuel expenditures included in Accounts payable and accrued liabilities at September 30, 2025, 2024, and 2023 were $1.2 billion, $898 million, and $559 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the years ended September 30, 2025, 2024, and 2023 as non-cash investing activities.  ARO project accruals included in Accounts payable and accrued liabilities at September 30, 2025, 2024, and 2023 were $57 million, $45 million, and $71 million, respectively, and are excluded from the Consolidated Statements of Cash Flows for the years ended September 30, 2025, 2024, and 2023 as non-cash operating activities. Excluded from the Consolidated Statements of Cash Flows for the year ended September 30, 2024, were non-cash investing and financing activities of $230 million primarily related to two finance leases. There was a $56 million lease asset and lease liability recorded as a result of a new finance lease entered into