Skip to main content
Midas Edge

Tennessee Valley Authority

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Nov 14, 2024

TVE$23.24+0.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 8. Consolidated Balance Sheets

At September 30

ASSETS
20242023
Current assets
Cash and cash equivalents$502$501
Accounts receivable, net1,8011,745
Inventories, net1,1551,108
Regulatory assets191178
Other current assets120134
Total current assets3,7693,666
Property, plant, and equipment
Completed plant70,98968,199
Less accumulated depreciation(38,793)(35,871)
Net completed plant32,19632,328
Construction in progress4,8793,238
Nuclear fuel1,2611,344
Finance leases729572
Total property, plant, and equipment, net39,06537,482
Investment funds4,9684,123
Regulatory and other long-term assets
Regulatory assets9,4085,566
Operating lease assets, net of amortization149177
Other long-term assets344330
Total regulatory and other long-term assets9,9016,073
Total assets$57,703$51,344
The accompanying notes are an integral part of these consolidated financial statements.

At September 30

LIABILITIES AND PROPRIETARY CAPITAL
20242023
Current liabilities
Accounts payable and accrued liabilities$2,910$2,618
Accrued interest280272
Asset retirement obligations283272
Regulatory liabilities174222
Short-term debt, net1,167432
Current maturities of power bonds1,0221,022
Current maturities of long-term debt of variable interest entities3735
Total current liabilities5,8734,873
Other liabilities
Post-retirement and post-employment benefit obligations2,8872,527
Asset retirement obligations10,5237,217
Finance lease liabilities700576
Other long-term liabilities1,7121,211
Regulatory liabilities83107
Total other liabilities15,90511,638
Long-term debt, net
Long-term power bonds, net17,86717,844
Long-term debt of variable interest entities, net897933
Total long-term debt, net18,76418,777
Total liabilities40,54235,288
Commitments and contingencies (Note 22)
Proprietary capital
Power program appropriation investment258258
Power program retained earnings16,43715,302
Total power program proprietary capital16,69515,560
Nonpower programs appropriation investment, net518525
Accumulated other comprehensive loss(52)(29)
Total proprietary capital17,16116,056
Total liabilities and proprietary capital$57,703$51,344
The accompanying notes are an integral part of these consolidated financial statements.
202420232022
Net income$1,135$500$1,108
Other comprehensive income (loss)
Net unrealized gain (loss) on cash flow hedges2599(157)
Net unrealized (gain) loss reclassified to earnings from cash flow hedges(48)(42)93
Total other comprehensive income (loss)(23)57(64)
Total comprehensive income$1,112$557$1,044
The accompanying notes are an integral part of these consolidated financial statements.
202420232022
Cash flows from operating activities
Net income$1,135$500$1,108
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization(1)2,1602,2352,076
Amortization of nuclear fuel cost364371347
Non-cash retirement benefit expense138241328
Other regulatory amortization and deferrals(71)3170
Changes in current assets and liabilities
Accounts receivable, net(16)301(412)
Inventories and other current assets, net(70)(83)(163)
Accounts payable and accrued liabilities44(1)282
Accrued interest8(1)(7)
Pension contributions(304)(306)(308)
Settlements of asset retirement obligations(283)(327)(291)
Other, net(102)(89)(82)
Net cash provided by operating activities3,0032,8722,948
Cash flows from investing activities
Construction expenditures(3,281)(2,526)(2,361)
Nuclear fuel expenditures(294)(273)(283)
Acquisition of leasehold interests in combustion turbine assets—(155)—
Purchases of investments(52)(51)(51)
Loans and other receivables
Advances(4)(7)(9)
Repayments6815
Other, net341026
Net cash used in investing activities(3,591)(2,994)(2,663)
Cash flows from financing activities
Long-term debt
Issues of power bonds991992484
Redemptions and repurchases of power bonds(1,022)(29)(1,028)
Payments on debt of variable interest entities(35)(39)(43)
Short-term debt issues (redemptions), net734(740)392
Payments on leases and leasebacks(76)(56)(85)
Financing costs, net(5)(4)(3)
Other, net3(1)—
Net cash provided by (used in) financing activities590123(283)
Net change in cash, cash equivalents, and restricted cash212
Cash, cash equivalents, and restricted cash at beginning of year521520518
Cash, cash equivalents, and restricted cash at end of year$523$521$520
Note(1) Including amortization of debt issuance costs and premiums/discounts.
The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENTS OF CHANGES IN PROPRIETARY CAPITAL

Power Program Appropriation InvestmentPower Program Retained EarningsNonpower Programs Appropriation Investment, NetAccumulated Other Comprehensive LossTotal
Balance at September 30, 2021$258$13,689$540$(22)$14,465
Net income (loss)—1,115(7)—1,108
Total other comprehensive income (loss)———(64)(64)
Return on power program appropriation investment—(4)——(4)
Balance at September 30, 2022$258$14,800$533$(86)$15,505
Net income (loss)—508(8)—500
Total other comprehensive income———5757
Return on power program appropriation investment—(6)——(6)
Balance at September 30, 2023$258$15,302$525$(29)$16,056
Net income (loss)—1,142(7)—1,135
Total other comprehensive income (loss)———(23)(23)
Return on power program appropriation investment—(7)——(7)
Balance at September 30, 2024$258$16,437$518$(52)$17,161
The accompanying notes are an integral part of these consolidated financial statements.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.