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Microsoft Excel LibreOffice Calc

AT&T Inc. (T)


Analysis of Debt

Advanced level


Total Debt (Carrying Amount)

AT&T Inc., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt (carrying amount)

Based on: 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18).

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. AT&T Inc.’s total debt increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2019
Selected Financial Data (US$ in millions)
Notes and debentures
Commercial paper
Bank borrowings
Finance lease obligations
Other
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2020-02-20).


Weighted-average Interest Rate on Debt

Weighted-average interest rate of long-term debt, including the impact of derivatives:

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

Based on: 10-K (filing date: 2020-02-20).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

AT&T Inc., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Interest expense
Capitalized interest
Interest expense incurred

Based on: 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. AT&T Inc.’s interest expense increased from 2017 to 2018 and from 2018 to 2019.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. AT&T Inc.’s capitalized interest decreased from 2017 to 2018 and from 2018 to 2019.
Interest expense incurred Total interest costs incurred during the period and either capitalized or charged against earnings. AT&T Inc.’s interest expense incurred increased from 2017 to 2018 and from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income attributable to AT&T
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest expense incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18).

2019 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). AT&T Inc.’s adjusted interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level.