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Microsoft Excel LibreOffice Calc


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Chevron Corp., 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, net of unamortized discount and debt issuance costs hidden hidden hidden hidden hidden
Long-term debt, net of unamortized discount and debt issuance costs hidden hidden hidden hidden hidden
Capital lease obligations hidden hidden hidden hidden hidden
Total debt (carrying amount) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).

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. Chevron Corp.'s total debt increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2017
Selected Financial Data (USD $ in millions)
Short-term debt, excluding capital lease obligations hidden
Long-term debt, excluding due within one year hidden
Capital lease obligations hidden
Total debt (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2018-02-22).


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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Total hidden hidden hidden

Based on: 10-K (filing date: 2018-02-22).

1 USD $ in millions

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


Interest Costs Incurred

Chevron Corp.

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 and debt expense hidden hidden hidden hidden hidden
Capitalized interest hidden hidden hidden hidden hidden
Financing interest and debt costs hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).

Item Description The company
Interest and debt expense Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Chevron Corp.'s interest and debt expense increased from 2015 to 2016 and from 2016 to 2017.
Capitalized interest The amount of interest that was capitalized during the period. Chevron Corp.'s capitalized interest increased from 2015 to 2016 and from 2016 to 2017.
Financing interest and debt costs Total interest costs incurred during the period and either capitalized or charged against earnings. Chevron Corp.'s financing interest and debt costs 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 income (loss) attributable to Chevron Corporation hidden hidden hidden hidden hidden
Add: Net income attributable to noncontrolling interest 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
 
Financing interest and debt costs 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: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-20), 10-K (filing date: 2014-02-21).

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 ÷ Financing interest and debt costs
= hidden ÷ hidden = hidden

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