Analysis of Debt
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- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Total Debt (Carrying Amount)
Reynolds American Inc., balance sheet: debt
US$ in millions
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | ||
|---|---|---|---|---|---|---|
| Current maturities of long-term debt | ||||||
| Long-term debt, less current maturities | ||||||
| Total long-term debt (carrying amount) |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
- Current maturities of long-term debt
- The current maturities of long-term debt display a fluctuating pattern over the analyzed period. Starting at 60 million US dollars in 2012, the value is not reported for 2013 but shows a significant increase to 450 million in 2014. This upward trend continues with values of 506 million in 2015 and slightly decreases to 501 million in 2016, indicating a substantial rise from the initial figure in 2012.
- Long-term debt, less current maturities
- This component remains relatively stable between 2012 and 2014, with a minor decline from 5,035 million in 2012 to 4,633 million in 2014. A major increase occurs in 2015, with this figure rising sharply to 16,941 million, followed by a decrease to 12,664 million in 2016. The substantial spike in 2015 points to significant new long-term borrowing or debt restructuring during that year, with a partial repayment or adjustment in 2016.
- Total long-term debt (carrying amount)
- Total long-term debt mirrors the trends observed in its components. The balance remains steady from 2012 through 2014, around 5,000 million. A pronounced increase occurs in 2015, reaching 17,447 million, consistent with the sharp rise in long-term debt excluding current maturities. In 2016, the total long-term debt declines to 13,165 million but remains substantially elevated compared to the earlier years.
- Overall insights
- The data reveals a period of relative stability in long-term debt from 2012 to 2014, followed by a notable increase in 2015. This increase is primarily driven by a significant rise in long-term debt excluding current maturities. The current maturities of long-term debt also increase but to a lesser extent. The partial reduction in both components in 2016 suggests some debt repayment or restructuring. The overall trend implies a strategic change in debt financing starting in 2015, resulting in a considerably higher debt burden that is only partially reversed in the subsequent year.
Total Debt (Fair Value)
| Dec 31, 2016 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total long-term debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2016-12-31).
Weighted-average Interest Rate on Debt
Effective average annual interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2016-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =