Analysis of Debt
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ConocoPhillips pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Analysis of Inventory
- Adjustments to Financial Statements
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Total Debt (Carrying Amount)
ConocoPhillips, balance sheet: debt
US$ in millions
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Short-term debt | ||||||
| Long-term debt | ||||||
| Total debt, including finance leases (carrying amount) |
Based on: 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), 10-K (reporting date: 2016-12-31).
| Debt item | Description | The company |
|---|---|---|
| Total debt, including finance leases (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | ConocoPhillips total debt decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |
Total Debt (Fair Value)
| Dec 31, 2020 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Debt, excluding finance leases | |
| Finance leases | |
| Total debt, including finance leases (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2020-12-31).
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: 2020-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
ConocoPhillips, interest costs incurred
US$ in millions
| 12 months ended: | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest expensed | |||||||||||
| Interest capitalized | |||||||||||
| Interest incurred |
Based on: 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), 10-K (reporting date: 2016-12-31).
| Debt item | Description | The company |
|---|---|---|
| Interest expensed | Amount of the cost of borrowed funds accounted for as interest expense for debt. | ConocoPhillips interest expensed increased from 2018 to 2019 and from 2019 to 2020. |
| Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | ConocoPhillips interest capitalized decreased from 2018 to 2019 and from 2019 to 2020. |
| Interest incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | ConocoPhillips interest incurred decreased from 2018 to 2019 but then slightly increased from 2019 to 2020. |
Adjusted Interest Coverage Ratio
Based on: 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), 10-K (reporting date: 2016-12-31).
2020 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest and debt expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest incurred
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | ConocoPhillips adjusted interest coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |