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Microsoft Excel LibreOffice Calc

Eli Lilly & Co. (NYSE:LLY)

Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Eli Lilly & Co., balance sheet: debt

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Short-term borrowings and current maturities of long-term debt
Long-term debt, excluding current maturities
Total debt (carrying amount)

Based on: 10-K (filing date: 2020-02-19), 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).

Debt 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 decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2019
Selected Financial Data (US$ in thousands)
Short-term commercial paper borrowings
Long-term debt, including current portion
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2020-02-19).

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
Total

Based on: 10-K (filing date: 2020-02-19).

1 US$ in thousands

2 Weighted-average interest rate = 100 × ÷ =

Interest Costs Incurred

Eli Lilly & Co., interest costs incurred

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Interest expense
Interest costs capitalized
Interest costs incurred

Based on: 10-K (filing date: 2020-02-19), 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).

Debt 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 2017 to 2018 and from 2018 to 2019.
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 2017 to 2018 and from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Net income (loss)
Less: Net income from discontinued operations
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2020-02-19), 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).

2019 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =

Solvency 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 improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.