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Microsoft Excel LibreOffice Calc

Johnson & Johnson (JNJ)


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Johnson & Johnson, Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 28, 2014
Loans and notes payable hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden
Total debt (carrying amount) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-24).

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. Johnson & Johnson’s total debt increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 30, 2018
Selected Financial Data (USD $ in millions)
Short-term borrowings hidden
Long-term debt, including current portion hidden
Total debt (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2019-02-20).


Weighted-average Interest Rate on Debt

Weighted average effective rate on debt: hidden

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
hidden hidden hidden
Total hidden hidden
hidden

Based on: 10-K (filing date: 2019-02-20).

1 USD $ in millions

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


Interest Costs Incurred

Johnson & Johnson

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 28, 2014
Interest expense, net of portion capitalized hidden hidden hidden hidden hidden
Interest expense capitalized hidden hidden hidden hidden hidden
Interest costs incurred hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-24).

Item Description The company
Interest expense, net of portion capitalized Amount of the cost of borrowed funds accounted for as interest expense for debt. Johnson & Johnson’s interest expense, net of portion capitalized increased from 2016 to 2017 and from 2017 to 2018.
Interest expense capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Johnson & Johnson’s interest expense 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. Johnson & Johnson’s interest costs incurred increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 28, 2014
Selected Financial Data (USD $ in millions)
Net earnings hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Interest expense, net of portion capitalized hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
 
Interest costs incurred hidden hidden hidden hidden hidden
Ratio With and Without Capitalized Interest
Interest coverage ratio (excluding capitalized interest)1 hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (including capitalized interest)2 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-24).

2018 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense, net of portion capitalized
= hidden ÷ hidden = hidden

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). Johnson & Johnson’s adjusted interest coverage ratio deteriorated from 2016 to 2017 and from 2017 to 2018.