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Microsoft Excel LibreOffice Calc

Home Depot Inc. (HD)


Analysis of Debt

Difficulty: Advanced


Debt Accounting Policy

Any premiums or discounts, as the case may be, associated with an issuance of long-term debt are recorded as a direct addition or deduction to the carrying value of the related senior notes and amortized over the term of those notes using the effective interest rate method. Debt issuance costs associated with an issuance of long-term debt are recorded as a direct deduction to the carrying value of the related senior notes and amortized over the term of those notes using the effective interest rate method.

Source: 10-K (filing date: 2018-03-22).


Total Debt (Carrying Amount)

Home Depot Inc., Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Jan 28, 2018 Jan 29, 2017 Jan 31, 2016 Feb 1, 2015 Feb 2, 2014 Feb 3, 2013
Short-term debt hidden hidden hidden hidden hidden hidden
Current installments of long-term debt hidden hidden hidden hidden hidden hidden
Long-term debt, excluding current installments hidden hidden hidden hidden hidden hidden
Total debt (carrying amount) hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27), 10-K (filing date: 2013-03-28).

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. Home Depot Inc.’s total debt increased from 2016 to 2017 and from 2017 to 2018.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Jan 28, 2018
Selected Financial Data (USD $ in millions)
Commercial paper hidden
Senior notes hidden
Capital lease obligations hidden
Other debt hidden
Total debt (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2018-03-22).


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: 2018-03-22).

1 USD $ in millions

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


Interest Costs Incurred

Home Depot Inc.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Jan 28, 2018 Jan 29, 2017 Jan 31, 2016 Feb 1, 2015 Feb 2, 2014 Feb 3, 2013
Interest expense hidden hidden hidden hidden hidden hidden
Interest capitalized hidden hidden hidden hidden hidden hidden
Interest costs incurred hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27), 10-K (filing date: 2013-03-28).

Item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Home Depot Inc.’s interest expense increased from 2016 to 2017 and from 2017 to 2018.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Home Depot Inc.’s interest capitalized declined from 2016 to 2017 and from 2017 to 2018.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Home Depot Inc.’s interest costs incurred increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Jan 28, 2018 Jan 29, 2017 Jan 31, 2016 Feb 1, 2015 Feb 2, 2014 Feb 3, 2013
Selected Financial Data (USD $ in millions)
Net earnings hidden hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden hidden
Add: Interest expense hidden hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden hidden
 
Interest costs incurred 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: 2018-03-22), 10-K (filing date: 2017-03-23), 10-K (filing date: 2016-03-24), 10-K (filing date: 2015-03-26), 10-K (filing date: 2014-03-27), 10-K (filing date: 2013-03-28).

2018 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs incurred
= hidden ÷ hidden = hidden


Ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Home Depot Inc.’s adjusted interest coverage ratio improved from 2016 to 2017 and from 2017 to 2018.