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Analysis of Debt
Total Debt (Carrying Amount)
Biogen Inc., balance sheet: debt
US$ in thousands
Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-01), 10-K (filing date: 2017-02-02), 10-K (filing date: 2016-02-03).
Debt item | Description | The company |
---|---|---|
Total notes payable and other financing arrangements, including current portion (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Biogen Inc.’s total debt decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level. |
Total Debt (Fair Value)
Dec 31, 2019 | |
---|---|
Selected Financial Data (US$ in thousands) | |
Debt instruments | |
Financing arrangement for the purchase of the RTP facility | |
Total notes payable and other financing arrangements, including current portion (fair value) | |
Financial Ratio | |
Debt, fair value to carrying amount ratio |
Based on: 10-K (filing date: 2020-02-06).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
Total | |||
Based on: 10-K (filing date: 2020-02-06).
1 US$ in thousands
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Biogen Inc., interest costs incurred
US$ in thousands
12 months ended: | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Interest expense | |||||||||||
Capitalized interest costs related to construction in progress | |||||||||||
Interest costs incurred |
Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-01), 10-K (filing date: 2017-02-02), 10-K (filing date: 2016-02-03).
Debt item | Description | The company |
---|---|---|
Interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Biogen Inc.’s interest expense decreased from 2017 to 2018 and from 2018 to 2019. |
Capitalized interest costs related to construction in progress | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Biogen Inc.’s capitalized interest costs related to construction in progress increased from 2017 to 2018 and from 2018 to 2019. |
Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Biogen Inc.’s interest costs incurred decreased from 2017 to 2018 but then slightly increased from 2018 to 2019. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-01), 10-K (filing date: 2017-02-02), 10-K (filing date: 2016-02-03).
2019 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
Solvency ratio | Description | The company |
---|---|---|
Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Biogen Inc.’s adjusted interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019. |