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Analysis of Debt
Difficulty: Advanced
Total Debt (Carrying Amount)
Intel Corp., Statement of Financial Position, Debt
USD $ in millions
| Dec 30, 2017 | Dec 31, 2016 | Dec 26, 2015 | Dec 27, 2014 | Dec 28, 2013 | ||
|---|---|---|---|---|---|---|
| Short-term debt | |
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| Long-term debt | |
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| Total debt (carrying amount) | |
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Based on: 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
| 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. | Intel Corp.’s total debt increased from 2015 to 2016 and from 2016 to 2017. |
Total Debt (Fair Value)
| Dec 30, 2017 | |
|---|---|
| Selected Financial Data (USD $ in millions) | |
| Drafts payable | |
| Current portion of long-term debt | |
| Long-term debt, excluding current portion | |
| Total debt (fair value) | |
| Ratio | |
| Debt, fair value to carrying amount | |
Based on: 10-K (filing date: 2018-02-16).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt:
| Interest Rate | Debt Amount1 | Interest Rate × Debt Amount | Weighted-average Interest Rate2 | |
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| Total | |
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Based on: 10-K (filing date: 2018-02-16).
1 USD $ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Intel Corp.
USD $ in millions
| 12 months ended | Dec 30, 2017 | Dec 31, 2016 | Dec 26, 2015 | Dec 27, 2014 | Dec 28, 2013 | ||||||
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| Interest expense | |
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| Interest capitalized | |
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| Interest costs incurred | |
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Based on: 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
| Item | Description | The company |
|---|---|---|
| Interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Intel Corp.’s interest expense increased from 2015 to 2016 but then slightly declined from 2016 to 2017. |
| Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Intel Corp.’s interest capitalized declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Intel Corp.’s interest costs incurred increased from 2015 to 2016 and from 2016 to 2017. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
2017 Calculations
1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Intel Corp.’s adjusted interest coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |
