Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 80

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 8
Chunk 80
---
Table of Contents                                                                  

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

TENNESSEE VALLEY AUTHORITY

 CONSOLIDATED STATEMENTS OF OPERATIONS

For the years ended September 30

 (in millions)

 202520242023Operating revenues  Revenue from sales of electricity$13,486 $12,128 $11,899 Other revenue186 186 155 Total operating revenues13,672 12,314 12,054 Operating expenses  Fuel2,376 2,169 2,549 Purchased power2,106 1,581 1,633 Operating and maintenance3,717 3,641 3,372 Depreciation and amortization2,271 2,138 2,213 Tax equivalents633 557 593 Total operating expenses11,103 10,086 10,360 Operating income2,569 2,228 1,694 Other income, net92 71 61 Other net periodic benefit cost105 98 199 Interest expense1,196 1,066 1,056 Net income $1,360 $1,135 $500  The accompanying notes are an integral part of these consolidated financial statements.

83

Table of Contents                                                                  

TENNESSEE VALLEY AUTHORITY

 CONSOLIDATED BALANCE SHEETS

At September 30

 (in millions)

ASSETS 20252024Current assets Cash and cash equivalents$1,576 $502 Accounts receivable, net2,119 1,801 Inventories, net1,193 1,155 Regulatory assets127 191 Other current assets162 120 Total current assets5,177 3,769 Property, plant, and equipment  Completed plant71,574 70,989 Less accumulated depreciation(38,716)(38,793)Net completed plant32,858 32,196 Construction in progress6,760 4,879 Nuclear fuel1,185 1,261 Finance leases663 729 Total property, plant, and equipment, net41,466 39,065 Investment funds5,573 4,968 Regulatory and other long-term assets  Regulatory assets8,047 9,