Stock Analysis on Net
Stock Analysis on Net
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Illumina Inc. (NASDAQ:ILMN)

Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Illumina Inc., balance sheet: debt

US$ in millions

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Dec 31, 2020 Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016
Build-to-suit lease liability —  —  —  144  223 
Long-term debt, current portion 511  —  1,107  10  1 
Long-term debt, excluding current portion 673  1,141  890  1,182  1,048 
Total debt (carrying amount) 1,184  1,141  1,997  1,336  1,272 

Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-11), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14).

Debt 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. Illumina Inc.’s total debt decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.

Total Debt (Fair Value)

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Dec 31, 2020
Selected Financial Data (US$ in millions)
Build-to-suit lease liability — 
Convertible senior notes outstanding 1,595 
Obligations under financing leases — 
Other — 
Total debt (fair value) 1,595 
Financial Ratio
Debt, fair value to carrying amount ratio 1.35

Based on: 10-K (filing date: 2021-02-17).

Weighted-average Interest Rate on Debt

Weighted-average estimated implied interest rate on Convertible Senior Notes: 3.62%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
3.70% 750  28 
3.50% 517  18 
Total 1,267  46 
3.62%

Based on: 10-K (filing date: 2021-02-17).

1 US$ in millions

2 Weighted-average interest rate = 100 × 46 ÷ 1,267 = 3.62%