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Analysis of Debt
Total Debt (Carrying Amount)
Walt Disney Co., balance sheet: debt
US$ in millions
| Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | Oct 3, 2015 | ||
|---|---|---|---|---|---|---|---|
| Current portion of borrowings | |||||||
| Borrowings, excluding current portion | |||||||
| Total borrowings (carrying amount) |
Based on: 10-K (filing date: 2020-11-25), 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).
| 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 increased from 2018 to 2019 and from 2019 to 2020. |
Total Debt (Fair Value)
| Oct 3, 2020 | |
|---|---|
| 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: 2020-11-25).
Weighted-average Interest Rate on Debt
Effective interest rate on borrowings:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (filing date: 2020-11-25).
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: | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | Oct 3, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest expense, net of capitalized interest | |||||||||||||
| Interest capitalized | |||||||||||||
| Interest costs incurred |
Based on: 10-K (filing date: 2020-11-25), 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).
| 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 2018 to 2019 and from 2019 to 2020. |
| Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Walt Disney Co.’s interest capitalized increased from 2018 to 2019 but then slightly decreased from 2019 to 2020 not reaching 2018 level. |
| 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 2018 to 2019 and from 2019 to 2020. |
Adjusted Interest Coverage Ratio
Based on: 10-K (filing date: 2020-11-25), 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).
2020 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| 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 2018 to 2019 and from 2019 to 2020. |