Tennessee Valley Authority

For the period ended Mar 31, 2026. Filed May 5, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 5, 2026

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

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

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Contents

Consolidated Balance Sheets (Unaudited)

ASSETS
	March 31, 2026	September 30, 2025
Current assets
Cash and cash equivalents	$501	$1,576
Accounts receivable, net	1,969	2,119
Inventories, net	1,211	1,193
Regulatory assets	455	127
Other current assets	243	162
Total current assets	4,379	5,177
Property, plant, and equipment
Completed plant	71,078	71,574
Less accumulated depreciation	(39,152)	(38,716)
Net completed plant	31,926	32,858
Construction in progress	7,731	6,760
Nuclear fuel	1,214	1,185
Finance leases	632	663
Total property, plant, and equipment, net	41,503	41,466
Investment funds	5,665	5,573
Regulatory and other long-term assets
Regulatory assets	7,850	8,047
Operating lease assets, net of amortization	87	113
Other long-term assets	455	506
Total regulatory and other long-term assets	8,392	8,666
Total assets	$59,939	$60,882
The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED BALANCE SHEETS (Unaudited)

LIABILITIES AND PROPRIETARY CAPITAL
	March 31, 2026	September 30, 2025
Current liabilities
Accounts payable and accrued liabilities	$2,887	$3,299
Accrued interest	326	348
Asset retirement obligations	343	313
Regulatory liabilities	212	228
Short-term debt, net	1,348	—
Current maturities of power bonds	1,020	1,370
Current maturities of long-term debt of variable interest entities	50	49
Total current liabilities	6,186	5,607
Other liabilities
Post-retirement and post-employment benefit obligations	2,041	2,183
Asset retirement obligations	9,168	10,101
Finance lease liabilities	617	640
Other long-term liabilities	1,569	1,606
Regulatory liabilities	124	141
Total other liabilities	13,519	14,671
Long-term debt, net
Long-term power bonds, net	19,459	20,461
Long-term debt of variable interest entities, net	1,607	1,632
Total long-term debt, net	21,066	22,093
Total liabilities	40,771	42,371
Commitments and contingencies (Note 21)
Proprietary capital
Power program appropriation investment	258	258
Power program retained earnings	18,455	17,797
Total power program proprietary capital	18,713	18,055
Nonpower programs appropriation investment, net	506	510
Accumulated other comprehensive loss	(51)	(54)
Total proprietary capital	19,168	18,511
Total liabilities and proprietary capital	$59,939	$60,882
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.