Anadarko Petroleum Corp., balance sheet: debt

US$ in millions

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Short-term debt	42)	33)	—)	500)	—)
Long-term debt, excluding current portion	15,281)	15,718)	15,092)	13,065)	13,269)
Total debt (carrying amount)	15,323)	15,751)	15,092)	13,565)	13,269)

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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.	Anadarko Petroleum Corp. total debt increased from 2014 to 2015 but then slightly decreased from 2015 to 2016 not reaching 2014 level.

	Dec 31, 2016
Selected Financial Data (US$ in millions)
Total debt (fair value)	17,100)
Financial Ratio
Debt, fair value to carrying amount ratio	1.12

Weighted-average interest rate on debt: 5.87%

Interest rate	Debt amount¹	Interest rate × Debt amount
7.05%	114)	8)
2.60%	350)	9)
6.95%	300)	21)
8.70%	600)	52)
4.85%	800)	39)
5.38%	500)	27)
4.00%	670)	27)
3.45%	625)	22)
6.95%	650)	45)
3.95%	500)	20)
4.65%	500)	23)
5.55%	1,100)	61)
7.50%	112)	8)
7.00%	54)	4)
7.13%	150)	11)
6.63%	17)	1)
7.15%	235)	17)
7.20%	135)	10)
7.95%	117)	9)
7.50%	900)	68)
7.88%	500)	39)
5.24%	2,360)	124)
6.45%	1,750)	113)
7.95%	325)	26)
6.20%	750)	47)
4.50%	625)	28)
5.45%	600)	33)
6.60%	1,100)	73)
7.73%	61)	5)
7.50%	78)	6)
7.25%	49)	4)
Total	16,627)	977)
5.87%

¹ US$ in millions

² Weighted-average interest rate = 100 × 977 ÷ 16,627 = 5.87%

Anadarko Petroleum Corp., interest costs incurred

US$ in millions

12 months ended:	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Interest expense	890)	825)	772)	686)	742)
Capitalized interest	132)	164)	201)	263)	221)
Interest costs incurred	1,022)	989)	973)	949)	963)

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Debt item	Description	The company
Interest expense	Amount of the cost of borrowed funds accounted for as interest expense for debt.	Anadarko Petroleum Corp. interest expense increased from 2014 to 2015 and from 2015 to 2016.
Capitalized interest	Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred.	Anadarko Petroleum Corp. capitalized interest decreased from 2014 to 2015 and from 2015 to 2016.
Interest costs incurred	Total interest costs incurred during the period and either capitalized or charged against earnings.	Anadarko Petroleum Corp. interest costs incurred increased from 2014 to 2015 and from 2015 to 2016.

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders	(3,071)	(6,692)	(1,750)	801)	2,391)
Add: Net income attributable to noncontrolling interest	263)	(120)	187)	140)	54)
Add: Income tax expense	(1,021)	(2,877)	1,617)	1,165)	1,120)
Add: Interest expense	890)	825)	772)	686)	742)
Earnings before interest and tax (EBIT)	(2,939)	(8,864)	826)	2,792)	4,307)

Interest costs incurred	1,022)	989)	973)	949)	963)
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)¹	-3.30	-10.74	1.07	4.07	5.80
Adjusted interest coverage ratio (with capitalized interest)²	-2.88	-8.96	0.85	2.94	4.47

2016 Calculations

¹ Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= -2,939 ÷ 890 = -3.30

² Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= -2,939 ÷ 1,022 = -2.88

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Solvency ratio	Description	The company
Adjusted interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest).	Anadarko Petroleum Corp. adjusted interest coverage ratio deteriorated from 2014 to 2015 but then improved from 2015 to 2016 not reaching 2014 level.

Anadarko Petroleum Corp. (NYSE:APC)

Analysis of Debt