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Walt Disney Co. (DIS)
Analysis of Debt
Advanced level
Total Debt (Carrying Amount)
Walt Disney Co., balance sheet: debt
US$ in millions
| Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | Oct 3, 2015 | Sep 27, 2014 | ||
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| Current portion of borrowings | |
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| Borrowings, excluding current portion | |
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| Total borrowings (carrying amount) | |
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Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).
| Debt item | Description | The company |
|---|---|---|
| Total borrowings (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Walt Disney Co.’s total debt decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level. |
Total Debt (Fair Value)
| Sep 28, 2019 | |
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| Selected Financial Data (US$ in millions) | |
| Total borrowings (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (filing date: 2019-11-20).
Weighted-average Interest Rate on Debt
Effective interest rate on borrowings:
| Interest Rate | Debt Amount1 | Interest Rate × Debt Amount | Weighted-average Interest Rate2 |
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Based on: 10-K (filing date: 2019-11-20).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Walt Disney Co., interest costs incurred
US$ in millions
| 12 months ended | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | Oct 3, 2015 | Sep 27, 2014 | |||||||
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| Interest expense, net of capitalized interest | |
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| Interest capitalized | |
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| Interest costs incurred | |
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Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).
| Debt item | Description | The company |
|---|---|---|
| Interest expense, net of capitalized interest | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Walt Disney Co.’s interest expense, net of capitalized interest increased from 2017 to 2018 and from 2018 to 2019. |
| Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Walt Disney Co.’s interest capitalized increased from 2017 to 2018 and from 2018 to 2019. |
| Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Walt Disney Co.’s interest costs incurred increased from 2017 to 2018 and from 2018 to 2019. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2019-11-20), 10-K (filing date: 2018-11-21), 10-K (filing date: 2017-11-22), 10-K (filing date: 2016-11-23), 10-K (filing date: 2015-11-25), 10-K (filing date: 2014-11-19).
2019 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 |
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| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Walt Disney Co.’s adjusted interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |