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Microsoft Excel LibreOffice Calc


Analysis of Debt

Difficulty: Advanced


Debt Accounting Policy

Capitalized Interest Costs

Interest costs have been capitalized as a part of the historical cost of unproved oil and gas properties. The amount capitalized is an allocation of the interest cost incurred during the reporting period. Capitalized interest is computed only during the exploration and development phases and ceases once production begins. The interest rate used for capitalization purposes is based on the interest rates on EOG's outstanding borrowings. The capitalization of interest is excluded on significant acquisitions of unproved oil and gas properties financed through non-interest-bearing instruments, such as the issuance of shares of Common Stock, or through non-cash property exchanges.

Source: 10-K (filing date: 2018-02-27).


Total Debt (Carrying Amount)

EOG Resources Inc., Statement of Financial Position, Debt

USD $ in thousands

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

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-18), 10-K (filing date: 2014-02-24).

Item Description The company
Total long-term debt and capital lease obligation (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 increased from 2015 to 2016 but then declined significantly from 2016 to 2017.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2017
Selected Financial Data (USD $ in thousands)
Commercial paper hidden
Senior notes hidden
Capital lease obligation hidden
Total long-term debt and capital lease obligation (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2018-02-27).


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: 2018-02-27).

1 USD $ in thousands

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


Interest Costs Incurred

EOG Resources Inc.

USD $ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net interest expense hidden hidden hidden hidden hidden
Interest expense, capitalized hidden hidden hidden hidden hidden
Interest expense, incurred hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-18), 10-K (filing date: 2014-02-24).

Item Description The company
Net interest expense Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. EOG Resources Inc.'s net interest expense increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Interest expense, capitalized The amount of interest that was capitalized during the period. EOG Resources Inc.'s interest expense, capitalized declined from 2015 to 2016 and from 2016 to 2017.
Interest expense, incurred Total interest costs incurred during the period and either capitalized or charged against earnings. EOG Resources Inc.'s interest expense, incurred increased from 2015 to 2016 but then slightly declined 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 thousands)
Net income (loss) hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Net interest expense hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
 
Interest expense, incurred 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: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-18), 10-K (filing date: 2014-02-24).

2017 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Net interest expense
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest expense, incurred
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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 2015 to 2016 and from 2016 to 2017.