Debt and Other Obligations Debt and Other Obligations (Tables)

12 Months Ended

Sep. 30, 2021

Debt and Other Obligations [Abstract]

The following table provides information regarding TVA's short-term borrowings:


Short-term Borrowings At September 30
	2021			2020			2019
Gross amount outstanding - discount notes	$	780		$	57		$	922

Weighted average interest rate - discount notes	0.03		%	0.06		%	2.15		%

Debt Securities Activity

The table below summarizes the long-term debt securities activity for the years ended September 30, 2021 and 2020.


Debt Securities Activity For the years ended September 30
	2021		2020
Issues







2020 Series A(1)	$	—	$	1,000
2021 Series A(2)	500		—
Discount on debt issues	—		(3)
Total	$	500	$	997





Redemptions/Maturities(3)
electronotes®	$	—	$	219
2009 Series B	29		28
2018 Series A	—		1,000
1999 Series A PARRS (TVE)	—		23
1998 Series D PARRS (TVC)	—		17
1995 Series B	—		140
2011 Series A	1,500		—
1998 Series H	331		—
Total redemptions/maturities of power bonds	1,860		1,427
Notes payable	—		23
Variable interest entities	41		39
Total	$	1,901	$	1,489

Notes

(1) The 2020 Series A Bonds were issued at 99.706 percent of par.

(2) The 2021 Series A Bonds were issued at 99.982 percent of par.

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

Debt Outstanding

Total debt outstanding at September 30, 2021 and 2020, consisted of the following:


Short-Term Debt At September 30
CUSIP or Other Identifier	Maturity	Call/(Put) Date	Coupon Rate	2021		2020
Short-term debt, net of discounts				$	780	$	57
Current maturities of long-term debt of VIEs issued at par				43		41
Current maturities of notes payable				—		—
Current maturities of power bonds issued at par

880591EN8	8/15/2022		1.875%	1,000		—

880591EF5	12/15/2021		3.770%	1		1
880591EF5	6/15/2022		3.770%	27		28






880591EL2	2/15/2021		3.875%	—		1,500
880591DC3	6/7/2021		5.805%	—		258		(1)
Total current maturities of power bonds issued at par				1,028		1,787
Total current debt outstanding, net				$	1,851	$	1,885

Note

(1) Includes net exchange gain from currency transactions of $73 million at September 30, 2020.


Long-Term Debt At September 30
CUSIP or Other Identifier	Maturity	Coupon Rate		Effective Call Date	2021 Par			2020 Par			Stock Exchange Listings





880591EN8	8/15/2022	1.875%			$	—		$	1,000		New York
880591ER9	9/15/2024	2.875%			1,000			1,000			New York
880591EW8	5/15/2025	0.750%			1,000			1,000			New York
880591CJ9	11/1/2025	6.750%			1,350			1,350			New York, Hong Kong, Luxembourg, Singapore
880591EU2	2/1/2027	2.875%			1,000			1,000			New York
880591300(3)	6/1/2028	2.134%			256			256			New York
880591409(3)	5/1/2029	2.216%			208			208			New York
880591DM1	5/1/2030	7.125%			1,000			1,000			New York, Luxembourg
880591EX6	9/15/2031	1.500%			500			—			New York
880591DP4	6/7/2032	6.587%	(2)		337		(1)	323		(1)	New York, Luxembourg
880591DV1	7/15/2033	4.700%			472			472			New York, Luxembourg
880591EF5	6/15/2034	3.770%			190			218			None
880591DX7	6/15/2035	4.650%			436			436			New York
880591CK6	4/1/2036	5.980%			121			121			New York
880591CS9	4/1/2036	5.880%			1,500			1,500			New York
880591CP5	1/15/2038	6.150%			1,000			1,000			New York
880591ED0	6/15/2038	5.500%			500			500			New York
880591EH1	9/15/2039	5.250%			2,000			2,000			New York
880591EP3	12/15/2042	3.500%			1,000			1,000			New York
880591DU3	6/7/2043	4.962%	(2)		202		(1)	194		(1)	New York, Luxembourg

880591EB4	1/15/2048	4.875%			500			500			New York, Luxembourg
880591DZ2	4/1/2056	5.375%			1,000			1,000			New York
880591EJ7	9/15/2060	4.625%			1,000			1,000			New York
880591ES7	9/15/2065	4.250%			1,000			1,000			New York



Subtotal					17,572			18,078
Unamortized discounts, premiums, issue costs, and other					(115)			(122)
Total long-term outstanding power bonds, net					17,457			17,956
Long-term debt of VIEs, net					1,006			1,048

Total long-term debt, net					$	18,463		$	19,004

Notes

(1) Includes net exchange gain from currency transactions of $58 million and $80 million at September 30, 2021 and 2020, respectively.

(2) The coupon rate represents TVA's effective interest rate.

(3) TVA PARRS, CUSIP numbers 880591300 and 880591409, may be redeemed under certain conditions. See Put and Call Options above.

Maturities Due in the Year Ending September 30


Maturities Due in the Year Ending September 30
	2022		2023		2024		2025		2026		Thereafter		Total
Long-term power bonds including current maturities(1)	$	1,028	$	29	$	1,022	$	1,022	$	1,370	$	14,187	$	18,658

Short-term debt, net of discounts	780		—		—		—		—		—		780

Note

(1) Long-term power bonds does not include non-cash items of foreign currency exchange gain of $58 million, unamortized debt issue costs of $43 million, and net discount on sale of Bonds of $72 million.

Summary of Long-Term Credit Facilities

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


Summary of Long-Term Credit Facilities At September 30, 2021
Maturity Date	Facility Limit		Letters of Credit Outstanding		Cash Borrowings		Availability
September 2023	$	1,000	$	328	$	—	$	672
February 2024	150		38		—		112
February 2025	500		500		—		—
September 2026	1,000		301		—		699
Total	$	2,650	$	1,167	$	—	$	1,483