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Analysis of Debt
Total Debt (Carrying Amount)
Air Products & Chemicals Inc., balance sheet: debt
US$ in thousands
Based on: 10-K (filing date: 2020-11-19), 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24).
| 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. | Air Products & Chemicals Inc.’s total debt decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |
Total Debt (Fair Value)
| Sep 30, 2020 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Short-term borrowings | |
| Long-term debt, including current portion and related party | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (filing date: 2020-11-19).
Weighted-average Interest Rate on Debt
Weighted average interest rate of debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (filing date: 2020-11-19).
1 US$ in thousands
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Air Products & Chemicals Inc., interest costs incurred
US$ in thousands
| 12 months ended: | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | Sep 30, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest expense | |||||||||||||
| Capitalized interest | |||||||||||||
| Interest costs incurred |
Based on: 10-K (filing date: 2020-11-19), 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24).
| Debt item | Description | The company |
|---|---|---|
| Interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Air Products & Chemicals Inc.’s interest expense increased from 2018 to 2019 but then decreased significantly from 2019 to 2020. |
| Capitalized interest | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Air Products & Chemicals Inc.’s capitalized interest decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
| Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Air Products & Chemicals Inc.’s interest costs incurred increased from 2018 to 2019 but then decreased significantly from 2019 to 2020. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2020-11-19), 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24).
2020 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Air Products & Chemicals Inc.’s adjusted interest coverage ratio improved from 2018 to 2019 and from 2019 to 2020. |