Analysis of Debt
Advanced level
Accounting Policy on Debt
Capitalization of Interest Expense
Intuit capitalizes interest on capital projects, including facilities build-out projects and internal use computer software projects. Capitalization commences with the first expenditure for the project and continues until the project is substantially complete and ready for its intended use. Intuit amortizes capitalized interest to depreciation expense using the straight-line method over the same lives as the related assets. Capitalized interest was not significant for any period presented.
Source: 10-K (filing date: 2019-08-30).
Total Debt (Carrying Amount)
Intuit Inc., balance sheet: debt
US$ in millions
Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).
| 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. | Intuit Inc.’s total debt decreased from 2017 to 2018 and from 2018 to 2019. |
Total Debt (Fair Value)
| Jul 31, 2019 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term debt | 50 |
| Long-term debt | 386 |
| Total debt (fair value) | 436 |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.00 |
Based on: 10-K (filing date: 2019-08-30).
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: 2019-08-30).
1 US$ in millions
2 Weighted-average interest rate = 100 × 0 ÷ 0 = —