Analysis of Debt
Total Debt (Carrying Amount)
Intel Corp., balance sheet: debt
US$ in millions
Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).
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. | Intel Corp.’s total debt increased from 2018 to 2019 and from 2019 to 2020. |
Total Debt (Fair Value)
Dec 26, 2020 | |
---|---|
Selected Financial Data (US$ in millions) | |
Commercial paper and drafts payable | — |
Short- and long-term debt, including current portion | 40,900 |
Total debt (fair value) | 40,900 |
Financial Ratio | |
Debt, fair value to carrying amount ratio | 1.12 |
Based on: 10-K (filing date: 2021-01-22).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt: 2.84%
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
1.25% | 800 | 10 | |
1.79% | 500 | 9 | |
2.99% | 2,000 | 60 | |
1.96% | 750 | 15 | |
2.70% | 1,000 | 27 | |
2.83% | 417 | 12 | |
2.28% | 1,500 | 34 | |
3.22% | 400 | 13 | |
2.31% | 1,250 | 29 | |
2.14% | 600 | 13 | |
3.46% | 1,500 | 52 | |
2.93% | 2,250 | 66 | |
1.36% | 1,000 | 14 | |
3.80% | 1,000 | 38 | |
1.91% | 1,000 | 19 | |
2.39% | 2,000 | 48 | |
3.94% | 1,500 | 59 | |
1.84% | 750 | 14 | |
4.62% | 750 | 35 | |
2.82% | 802 | 23 | |
2.01% | 567 | 11 | |
2.90% | 772 | 22 | |
2.13% | 1,250 | 27 | |
2.07% | 1,000 | 21 | |
1.64% | 640 | 10 | |
2.39% | 1,967 | 47 | |
3.20% | 2,000 | 64 | |
4.76% | 2,250 | 107 | |
3.12% | 1,000 | 31 | |
5.00% | 1,000 | 50 | |
2.49% | 423 | 11 | |
2.13% | 138 | 3 | |
2.15% | 438 | 9 | |
Total | 35,214 | 1,001 | |
2.84% |
Based on: 10-K (filing date: 2021-01-22).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,001 ÷ 35,214 = 2.84%
Interest Costs Incurred
Intel Corp., interest costs incurred
US$ in millions
Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).
Debt 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 2018 to 2019 and from 2019 to 2020. |
Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Intel Corp.’s interest capitalized decreased from 2018 to 2019 and from 2019 to 2020. |
Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Intel Corp.’s interest costs incurred decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2021-01-22), 10-K (filing date: 2020-01-24), 10-K (filing date: 2019-02-01), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).
2020 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= 25,707 ÷ 629 = 40.87
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= 25,707 ÷ 967 = 26.58
Solvency 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 improved from 2018 to 2019 and from 2019 to 2020. |