Analysis of Debt
Total Debt (Carrying Amount)
EOG Resources Inc., balance sheet: debt
US$ in thousands
Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25).
Debt item | Description | The company |
---|---|---|
Total long-term debt and finance leases (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | EOG Resources Inc.’s total debt decreased from 2017 to 2018 and from 2018 to 2019. |
Total Debt (Fair Value)
Dec 31, 2019 | |
---|---|
Selected Financial Data (US$ in thousands) | |
Commercial paper | — |
Senior notes | 5,452,000 |
Finance leases | 57,900 |
Total long-term debt and finance leases (fair value) | 5,509,900 |
Financial Ratio | |
Debt, fair value to carrying amount ratio | 1.06 |
Based on: 10-K (filing date: 2020-02-27).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 3.62%
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
4.40% | 500,000 | 22,000 | |
2.45% | 500,000 | 12,250 | |
4.10% | 750,000 | 30,750 | |
2.63% | 1,250,000 | 32,813 | |
3.15% | 500,000 | 15,750 | |
4.15% | 750,000 | 31,125 | |
6.65% | 140,000 | 9,310 | |
3.90% | 500,000 | 19,500 | |
5.10% | 250,000 | 12,750 | |
3.00% | 57,900 | 1,737 | |
Total | 5,197,900 | 187,985 | |
3.62% |
Based on: 10-K (filing date: 2020-02-27).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 187,985 ÷ 5,197,900 = 3.62%
Interest Costs Incurred
EOG Resources Inc., interest costs incurred
US$ in thousands
Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25).
Debt item | Description | The company |
---|---|---|
Net interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | EOG Resources Inc.’s net interest expense decreased from 2017 to 2018 and from 2018 to 2019. |
Interest expense, capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | EOG Resources Inc.’s interest expense, capitalized decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level. |
Interest expense, incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | EOG Resources Inc.’s interest expense, incurred decreased from 2017 to 2018 and from 2018 to 2019. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25).
2019 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Net interest expense
= 3,730,396 ÷ 185,129 = 20.15
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense, incurred
= 3,730,396 ÷ 223,421 = 16.70
Solvency ratio | Description | The company |
---|---|---|
Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | EOG Resources Inc.’s adjusted interest coverage ratio improved from 2017 to 2018 and from 2018 to 2019. |