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Microsoft Excel LibreOffice Calc


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Costco Wholesale Corp., Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Sep 3, 2017 Aug 28, 2016 Aug 30, 2015 Aug 31, 2014 Sep 1, 2013 Sep 2, 2012
Short-term borrowings hidden hidden hidden hidden hidden hidden
Current portion of long-term debt hidden hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden hidden
Total debt (carrying amount) hidden hidden hidden hidden hidden hidden

Source: Based on data from Costco Wholesale Corp., Annual Reports

Item Description The company
Total debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Costco Wholesale Corp.'s total debt declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Sep 3, 2017
Selected Financial Data (USD $ in millions)
Short-term borrowings hidden
Long-term debt, including current portion hidden
Total debt (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Source: Based on data from Costco Wholesale Corp., Annual Reports


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt: hidden%

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
hidden% hidden hidden
hidden% hidden hidden
hidden% hidden hidden
hidden% hidden hidden
hidden% hidden hidden
hidden% hidden hidden
hidden% hidden hidden
Total hidden hidden hidden%

Source: Based on data from Costco Wholesale Corp., Annual Reports

1 USD $ in millions

2 Weighted-average interest rate = 100 × hidden ÷ hidden = hidden%


Interest Costs Incurred

Costco Wholesale Corp.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Sep 3, 2017 Aug 28, 2016 Aug 30, 2015 Aug 31, 2014 Sep 1, 2013 Sep 2, 2012
Interest expense hidden hidden hidden hidden hidden hidden
Interest capitalized hidden hidden hidden hidden hidden hidden
Interest costs incurred hidden hidden hidden hidden hidden hidden

Source: Based on data from Costco Wholesale Corp., Annual Reports

Item Description The company
Interest expense Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Costco Wholesale Corp.'s interest expense increased from 2015 to 2016 and from 2016 to 2017.
Interest capitalized The amount of interest that was capitalized during the period. Costco Wholesale Corp.'s interest capitalized increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Costco Wholesale Corp.'s interest costs incurred increased from 2015 to 2016 but then slightly declined from 2016 to 2017.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Sep 3, 2017 Aug 28, 2016 Aug 30, 2015 Aug 31, 2014 Sep 1, 2013 Sep 2, 2012
Selected Financial Data (USD $ in millions)
Net income attributable to Costco hidden hidden hidden hidden hidden hidden
Add: Net income attributable to noncontrolling interest hidden hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden hidden
Add: Interest expense hidden hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden hidden
 
Interest costs incurred hidden hidden hidden hidden hidden hidden
Ratio With and Without Capitalized Interest
Interest coverage ratio (excluding capitalized interest)1 hidden hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (including capitalized interest)2 hidden hidden hidden hidden hidden hidden

2017 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense
= hidden ÷ hidden = hidden

2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs incurred
= hidden ÷ hidden = hidden

Ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Costco Wholesale Corp.'s adjusted interest coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.