Analysis of Debt
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Chevron Corp. pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Total Debt (Carrying Amount)
Chevron Corp., balance sheet: debt
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Short-term debt | ||||||
| Long-term debt, excluding debt due within one year | ||||||
| Total debt (carrying amount) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| 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. | Chevron Corp. total debt increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term debt, excluding finance lease liabilities | |
| Long-term debt, excluding due within one year and finance lease liabilities | |
| Finance lease liabilities | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Chevron Corp., interest costs incurred
US$ in millions
| 12 months ended: | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest and debt expense | |||||||||||
| Capitalized interest | |||||||||||
| Financing interest and debt costs |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Debt item | Description | The company |
|---|---|---|
| Interest and debt expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Chevron Corp. interest and debt expense decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
| Capitalized interest | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Chevron Corp. capitalized interest increased from 2019 to 2020 and from 2020 to 2021. |
| Financing interest and debt costs | Total interest costs incurred during the period and either capitalized or charged against earnings. | Chevron Corp. financing interest and debt costs decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
Adjusted Interest Coverage Ratio
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
2021 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest and debt expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Financing interest and debt costs
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Chevron Corp. adjusted interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |