Analysis of Debt
Paying user area
Try for free
Corning Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Corning Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Total Debt (Carrying Amount)
Corning Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Debt item | Description | The company |
|---|---|---|
| Total long-term debt and short-term borrowings (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Corning Inc. total debt decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Total Debt (Fair Value)
| Dec 31, 2023 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Current portion of long-term debt and short-term borrowings | |
| Long-term debt, excluding current portion | |
| Total long-term debt and short-term borrowings (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2023-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on long-term debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2023-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =
Interest Costs Incurred
Corning Inc., interest costs incurred
US$ in millions
| 12 months ended: | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest expense | |||||||||||
| Interest capitalized | |||||||||||
| Interest costs |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Debt item | Description | The company |
|---|---|---|
| Interest expense | Amount of the cost of borrowed funds accounted for as interest expense for debt. | Corning Inc. interest expense decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
| Interest capitalized | Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. | Corning Inc. interest capitalized increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
| Interest costs | Total interest costs incurred during the period and either capitalized or charged against earnings. | Corning Inc. interest costs increased from 2021 to 2022 and from 2022 to 2023. |
Adjusted Interest Coverage Ratio
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
2023 Calculations
1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =
2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). | Corning Inc. adjusted interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |