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Microsoft Excel LibreOffice Calc

United Parcel Service Inc. (UPS)


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

United Parcel Service Inc., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Current maturities of long-term debt and commercial paper hidden hidden hidden hidden hidden
Long-term debt, excluding current maturities hidden hidden hidden hidden hidden
Total long-term debt, including current maturities (carrying amount) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-27).

Debt item Description The company
Total long-term debt, including current maturities (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. United Parcel Service Inc.’s total debt increased from 2016 to 2017 but then slightly declined from 2017 to 2018.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2018
Selected Financial Data (US$ in millions)
Total long-term debt, including current maturities (fair value) hidden
Financial Ratio
Debt, fair value to carrying amount ratio hidden

Based on: 10-K (filing date: 2019-02-21).


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: 2019-02-21).

1 US$ in millions

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


Interest Costs Incurred

United Parcel Service Inc., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Interest expense hidden hidden hidden hidden hidden
Capitalized interest hidden hidden hidden hidden hidden
Interest costs incurred hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-27).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. United Parcel Service Inc.’s interest expense increased from 2016 to 2017 and from 2017 to 2018.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. United Parcel Service Inc.’s capitalized interest increased 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. United Parcel Service Inc.’s interest costs incurred increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Net income hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Interest expense hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
 
Interest costs incurred hidden hidden hidden hidden hidden
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1 hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (with capitalized interest)2 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-27).

2018 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
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2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
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Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). United Parcel Service Inc.’s adjusted interest coverage ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.