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EOG Resources Inc. (NYSE:EOG)
Analysis of Debt
Advanced level
Total Debt (Carrying Amount)
EOG Resources Inc., balance sheet: debt
US$ in thousands
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Current portion of long-term debt | ||||||
| Long-term debt, excluding current portion | ||||||
| Total long-term debt and finance leases (carrying amount) |
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 | |
| Finance leases | |
| Total long-term debt and finance leases (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (filing date: 2020-02-27).
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 (filing date: 2020-02-27).
1 US$ in thousands
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
EOG Resources Inc., interest costs incurred
US$ in thousands
| 12 months ended | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net interest expense | |||||||||||
| Interest expense, capitalized | |||||||||||
| Interest expense, incurred |
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
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense, incurred
= ÷ =
| 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. |