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Microsoft Excel LibreOffice Calc

Walt Disney Co. (NYSE:DIS)

Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Walt Disney Co., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Current portion of borrowings
Borrowings, excluding current portion
Total borrowings (carrying amount)

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)

Microsoft Excel LibreOffice Calc
Sep 28, 2019
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
Total

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

Microsoft Excel LibreOffice Calc
12 months ended Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Interest expense, net of capitalized interest
Interest capitalized
Interest costs incurred

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

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Oct 1, 2016 Oct 3, 2015 Sep 27, 2014
Selected Financial Data (US$ in millions)
Net income attributable to The Walt Disney Company (Disney)
Add: Net income attributable to noncontrolling interest
Less: Income from discontinued operations, includes income tax expense
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

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
= ÷ =

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 2017 to 2018 and from 2018 to 2019.