Debt and Other Obligations (Tables)

9 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Debt Outstanding

Total debt outstanding at June 30, 2018, and September 30, 2017, consisted of the following:

Debt Outstanding
	At June 30, 2018			At September 30, 2017
Short-term debt
Short-term debt, net	$	1,886		$	1,998
Current maturities of power bonds	1,032			1,728
Current maturities of long-term debt of variable interest entities	37			36
Current maturities of notes payable	47			53
Total current debt outstanding, net	3,002			3,815
Long-term debt
Long-term power bonds(1)	20,311			20,357
Long-term debt of variable interest entities	1,156			1,175
Long-term notes payable	23			69
Unamortized discounts, premiums, issue costs, and other	(157		)	(163		)
Total long-term debt, net	21,333			21,438
Total outstanding debt	$	24,335		$	25,253

Note

(1) Includes net exchange gain from currency transactions of $136 million and $125 million at June 30, 2018, and September 30, 2017, respectively.

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the period from October 1, 2017, to June 30, 2018:

Debt Securities Activity
	Date	Amount			Interest Rate
Issues
2018 Series A(1)	March 2018	$	1,000		2.25	%
Discount on debt issues		(2		)
Total long-term debt issuances		$	998
Redemptions/Maturities(2)
electronotes®	First Quarter 2018	$	47		4.10	%
electronotes®	Second Quarter 2018	2			3.50	%
electronotes®	Third Quarter 2018	3			2.90	%
1997 Series E	First Quarter 2018	650			6.25	%
2009 Series B	First Quarter 2018	1			3.77	%
2008 Series B	Third Quarter 2018	1,000			4.50	%
2009 Series B	Third Quarter 2018	28			3.77	%
Total redemptions/maturities of power bonds		1,731
Notes payable		52			1.22	%
Debt of variable interest entities		18			4.31	%
Total redemptions/maturities of debt		$	1,801

Notes

(1) The 2018 Series A bonds were issued at 99.8 percent of par.

(2) All redemptions were at 100 percent of par.

Credit Facility Agreements

Summary of Long-Term Credit Facilities

The following table provides additional information regarding TVA's funding available under the four long-term credit facilities:

Summary of Long-Term Credit Facilities At June 30, 2018
	Facility Limit		Letters of Credit Outstanding		Cash Borrowings		Availability
Maturity Date
December 2019	$	150	$	37	$	—	$	113
February 2022	500		500		—		—
June 2020	1,000		202		—		798
June 2023	1,000		173		—		827
Total	$	2,650	$	912	$	—	$	1,738