Total Debt (Carrying Amount)
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Debt item | Description | The company |
---|---|---|
Total debt (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Zoetis Inc. total debt increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
Total Debt (Fair Value)
Dec 31, 2021 | |
---|---|
Selected Financial Data (US$ in millions) | |
Short-term borrowings | —) |
Long-term debt, including current portion | 7,443) |
Total debt (fair value) | 7,443) |
Financial Ratio | |
Debt, fair value to carrying amount ratio | 1.13 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 3.63%
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
3.25% | 1,350) | 44) | |
4.50% | 750) | 34) | |
3.00% | 750) | 23) | |
3.90% | 500) | 20) | |
2.00% | 750) | 15) | |
4.70% | 1,150) | 54) | |
3.95% | 500) | 20) | |
4.45% | 400) | 18) | |
3.00% | 500) | 15) | |
Total | 6,650) | 241) | |
3.63% |
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 241 ÷ 6,650 = 3.63%
Interest Costs Incurred
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
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. | Zoetis Inc. interest expense, net of capitalized interest increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
Capitalized interest expense | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Zoetis Inc. capitalized interest expense increased from 2019 to 2020 and from 2020 to 2021. |
Interest costs incurred | Total interest costs incurred during the period and either capitalized or charged against earnings. | Zoetis Inc. interest costs incurred increased from 2019 to 2020 but then slightly decreased from 2020 to 2021. |
Adjusted Interest Coverage Ratio
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
2021 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of capitalized interest
= 2,712 ÷ 224 = 12.11
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= 2,712 ÷ 244 = 11.11
Solvency ratio | Description | The company |
---|---|---|
Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Zoetis Inc. adjusted interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |