v3.25.2
Debt and Other Obligations (Tables)
 9 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt Outstanding
Total debt outstanding at June 30, 2025, and September 30, 2024, consisted of the following:
Debt Outstanding 
(in millions)
 At June 30, 2025At September 30, 2024
Short-term debt  
Short-term debt, net of discounts$319 $1,167 
Current maturities of power bonds issued at par1,370 1,022 
Current maturities of long-term debt of VIEs issued at par48 37 
Total current debt outstanding, net1,737 2,226 
Long-term debt  
Long-term power bonds(1)
19,389 17,995 
Long-term debt of VIEs, net1,651 897 
Unamortized discounts, premiums, issue costs, and other(160)(128)
Total long-term debt, net20,880 18,764 
Total debt outstanding$22,617 $20,990 
Note
(1) Includes total net exchange gain from currency transactions of $48 million and $62 million at June 30, 2025, and September 30, 2024, respectively.
Debt Securities Activity
Debt Securities Activity

The table below summarizes the long-term debt securities activity for the period from October 1, 2024, to June 30, 2025:
Debt Securities Activity
 Date
Amount
(in millions)
Issues
Debt of variable interest entitiesOctober 2024$800 
2025 Series A(1)
February 20251,250 
2025 Series B(2)
May 20251,500 
Discount on debt issues(28)
Total long-term debt issues$3,522 
Redemptions/Maturities(3)
 
2009 Series BDecember 2024$1 
2020 Series AMay 20251,000 
2009 Series BJune 202521 
Total redemptions/maturities of power bonds1,022 
Debt of variable interest entities23 
Total redemptions/maturities of debt$1,045 
Notes
(1) The 2025 Series A Bonds were issued at 98.517 percent of par.
(2) The 2025 Series B Bonds were issued at 99.360 percent of par.
(3) All redemptions were at 100 percent of par.
Summary of Long-Term Credit Facilities
Summary of Credit Facilities
At June 30, 2025
(in millions)
Maturity DateFacility LimitLetters of Credit OutstandingCash BorrowingsAvailability
March 2026$150 $38 $— $112 
September 20261,000 71 — 929 
March 20271,000 194 — 806 
February 2028500 214 — 286 
Total$2,650 $517 $— $2,133