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Microsoft Excel LibreOffice Calc


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Boeing Co., Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Short-term debt and current portion of long-term debt hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden
Total debt, including capital lease obligations and commercial paper (carrying amount) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14).

Item Description The company
Total debt, including capital lease obligations and commercial paper (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Boeing Co.'s total debt declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2017
Selected Financial Data (USD $ in millions)
Debt, excluding capital lease obligations and commercial paper hidden
Capital lease obligations hidden
Commercial paper hidden
Total debt, including capital lease obligations and commercial paper (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2018-02-12).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt: hidden

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

Based on: 10-K (filing date: 2018-02-12).

1 USD $ in millions

2 Weighted-average interest rate = 100 × hidden ÷ hidden = hidden


Interest Costs Incurred

Boeing Co.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Interest expense, including Boeing Capital hidden hidden hidden hidden hidden
Interest capitalized hidden hidden hidden hidden hidden
Interest incurred, including amounts capitalized hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14).

Item Description The company
Interest expense, including Boeing Capital Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Boeing Co.'s interest expense, including Boeing Capital increased from 2015 to 2016 and from 2016 to 2017.
Interest capitalized The amount of interest that was capitalized during the period. Boeing Co.'s interest capitalized increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Interest incurred, including amounts capitalized Total interest costs incurred during the period and either capitalized or charged against earnings. Boeing Co.'s interest incurred, including amounts capitalized increased from 2015 to 2016 and from 2016 to 2017.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net earnings related to parent hidden hidden hidden hidden hidden
Add: Net income attributable to noncontrolling interest hidden hidden hidden hidden hidden
Less: Net loss on disposal of discontinued operations, net of taxes hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Interest and debt expense hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
 
Interest incurred, including amounts capitalized hidden hidden hidden hidden hidden
Ratio With and Without Capitalized Interest
Interest coverage ratio (excluding capitalized interest)1 hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (including capitalized interest)2 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14).

2017 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest and debt expense
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest incurred, including amounts capitalized
= hidden ÷ hidden = hidden

Ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Boeing Co.'s adjusted interest coverage ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.