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Microsoft Excel LibreOffice Calc

Lowe’s Cos. Inc. (LOW)


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Lowe’s Cos. Inc., Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Feb 1, 2019 Feb 2, 2018 Feb 3, 2017 Jan 29, 2016 Jan 30, 2015 Jan 31, 2014
Short-term borrowings hidden hidden hidden hidden hidden hidden
Current maturities of long-term debt hidden hidden hidden hidden hidden hidden
Long-term debt, excluding current maturities hidden hidden hidden hidden hidden hidden
Total debt, including capitalized lease obligations (carrying amount) hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-04-02), 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31), 10-K (filing date: 2014-03-31).

Item Description The company
Total debt, including capitalized lease obligations (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Lowe’s Cos. Inc.’s total debt increased from 2017 to 2018 but then slightly declined from 2018 to 2019 not reaching 2017 level.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Feb 1, 2019
Selected Financial Data (USD $ in millions)
Short-term borrowings hidden
Long-term debt, excluding capitalized lease obligations hidden
Capitalized lease obligations hidden
Total debt, including capitalized lease obligations (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2019-04-02).


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
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Based on: 10-K (filing date: 2019-04-02).

1 USD $ in millions

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


Interest Costs Incurred

Lowe’s Cos. Inc.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Feb 1, 2019 Feb 2, 2018 Feb 3, 2017 Jan 29, 2016 Jan 30, 2015 Jan 31, 2014
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: 2019-04-02), 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31), 10-K (filing date: 2014-03-31).

Item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Lowe’s Cos. Inc.’s interest expense declined from 2017 to 2018 but then slightly increased from 2018 to 2019.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Lowe’s Cos. Inc.’s interest capitalized increased from 2017 to 2018 but then declined significantly from 2018 to 2019.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Lowe’s Cos. Inc.’s interest costs incurred declined from 2017 to 2018 but then slightly increased from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Feb 1, 2019 Feb 2, 2018 Feb 3, 2017 Jan 29, 2016 Jan 30, 2015 Jan 31, 2014
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, net of amount capitalized 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: 2019-04-02), 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31), 10-K (filing date: 2014-03-31).

2019 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense, net of amount capitalized
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs incurred
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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). Lowe’s Cos. Inc.’s adjusted interest coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.