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Eli Lilly & Co. (LLY)
Analysis of Debt
Difficulty: Advanced
Total Debt (Carrying Amount)
Eli Lilly & Co., Statement of Financial Position, Debt
USD $ in thousands
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
| 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. | Eli Lilly & Co.’s total debt increased from 2016 to 2017 but then slightly declined from 2017 to 2018. |
Total Debt (Fair Value)
| Dec 31, 2018 | |
|---|---|
| Selected Financial Data (USD $ in thousands) | |
| Short-term commercial paper borrowings | |
| Long-term debt, including current portion | |
| Total debt (fair value) | |
| Ratio | |
| Debt, fair value to carrying amount | |
Based on: 10-K (filing date: 2019-02-19).
Weighted-average Interest Rate on Debt
Weighted-average effective borrowing rate, including the effects of interest rate swaps for hedged debt obligations:
| Interest Rate | Debt Amount1 | Interest Rate × Debt Amount | Weighted-average Interest Rate2 |
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Based on: 10-K (filing date: 2019-02-19).
1 USD $ in thousands
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Eli Lilly & Co.
USD $ in thousands
| 12 months ended | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||||||
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| Interest expense | |
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| Interest costs capitalized | |
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| Interest costs incurred | |
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Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
| Item | Description | The company |
|---|---|---|
| Interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Eli Lilly & Co.’s interest expense increased from 2016 to 2017 and from 2017 to 2018. |
| Interest costs capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | |
| Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Eli Lilly & Co.’s interest costs incurred increased from 2016 to 2017 and from 2017 to 2018. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-19).
2018 Calculations
1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Eli Lilly & Co.’s adjusted interest coverage ratio deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |