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Microsoft Excel LibreOffice Calc


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

General Mills Inc., Statement of Financial Position, Debt

USD $ in thousands

Microsoft Excel LibreOffice Calc
May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014 May 26, 2013
Current portion of long-term debt hidden hidden hidden hidden hidden hidden
Notes payable hidden hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden hidden
Total debt (carrying amount) hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-06-29), 10-K (filing date: 2017-06-29), 10-K (filing date: 2016-06-30), 10-K (filing date: 2015-07-06), 10-K (filing date: 2014-07-03), 10-K (filing date: 2013-07-03).

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. General Mills Inc.'s total debt increased from 2016 to 2017 and from 2017 to 2018.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
May 27, 2018
Selected Financial Data (USD $ in thousands)
Notes payable hidden
Long-term debt, including the current portion hidden
Total debt (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2018-06-29).


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: 2018-06-29).

1 USD $ in thousands

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


Interest Costs Incurred

General Mills Inc.

USD $ in thousands

Microsoft Excel LibreOffice Calc
12 months ended May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014 May 26, 2013
Interest expense, net of capitalized interest hidden hidden hidden hidden hidden hidden
Capitalized interest hidden hidden hidden hidden hidden hidden
Interest expense hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-06-29), 10-K (filing date: 2017-06-29), 10-K (filing date: 2016-06-30), 10-K (filing date: 2015-07-06), 10-K (filing date: 2014-07-03), 10-K (filing date: 2013-07-03).

Item Description The company
Interest expense, net of capitalized interest Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. General Mills Inc.'s interest expense, net of capitalized interest declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Capitalized interest The amount of interest that was capitalized during the period. General Mills Inc.'s capitalized interest declined from 2016 to 2017 and from 2017 to 2018.
Interest expense Total interest costs incurred during the period and either capitalized or charged against earnings. General Mills Inc.'s interest expense declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014 May 26, 2013
Selected Financial Data (USD $ in thousands)
Net earnings attributable to General Mills hidden hidden hidden hidden hidden hidden
Add: Net income attributable to noncontrolling interest hidden hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden hidden
Add: Interest expense, net of capitalized interest hidden hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden hidden
 
Interest expense hidden hidden hidden hidden hidden hidden
Ratio With and Without Capitalized Interest
Interest coverage ratio (excluding capitalized interest)1 hidden hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (including capitalized interest)2 hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-06-29), 10-K (filing date: 2017-06-29), 10-K (filing date: 2016-06-30), 10-K (filing date: 2015-07-06), 10-K (filing date: 2014-07-03), 10-K (filing date: 2013-07-03).

2018 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense, net of capitalized interest
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest expense
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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). General Mills Inc.'s adjusted interest coverage ratio deteriorated from 2016 to 2017 and from 2017 to 2018.