Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 509

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 11
Chunk 509
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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

11.  Other Long-Term LiabilitiesOther long-term liabilities consist primarily of liabilities related to certain derivative agreements as well as liabilities related to environmental compliance and remediation, and long-term project cost accruals.  The table below summarizes the types and amounts of Other long-term liabilities:Other Long-Term Liabilities(in millions) At June 30, 2025At September 30, 2024(1)Interest rate swap liabilities$622 $792 Environmental compliance and remediation costs272 212 Long-term project cost accruals198 140 Currency swap liabilities85 109 Operating lease liabilities74 88 EnergyRight® financing obligation52 52 Long-term deferred compensation47 50 Long-term deferred revenue 38 48 Accrued long-term service agreements20 7 Advances for construction15 55 Commodity contract derivative liabilities8 64 Other76 95 Total other long-term liabilities$1,507 $1,712 Note(1)  At September 30, 2024, $7 million previously classified as Other (a component of Other long-term liabilities) has been reclassified to Accrued long-term service agreements (a component of Other long-term liabilities) to conform with current year presentation.Interest Rate Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Derivatives Not Receiving Hedge Accounting Treatment — Interest Rate Derivatives for information regarding the interest rate swap liabilities.Environmental Compliance and Remediation Costs.  At June 30, 2025, and September 30, 2024, the current amount of the environmental compliance and remediation costs reported in Accounts payable and accrued liabilities was $41 million and $3 million, respectively.Long-Term Project Cost Accruals.  At June 30, 2025, and September 30, 2024, the current amount of the long-term project cost accruals reported in Accounts payable and accrued liabilities was $219 million and $124 million, respectively.  Currency Swap Liabilities.  See Note 14 — Risk Management Activities and Derivative Transactions — Overview of Accounting Treatment and Cash Flow Hedging Strategy for Currency Swaps for more information regarding the currency swap liabilities.Operating Lease Liabilities.  At June