Analysis of Debt
Total Debt (Carrying Amount)
Time Warner Cable Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
The total debt carrying amount for Time Warner Cable Inc. exhibited a general downward trajectory between 2012 and 2015. After reaching a peak of 26,689 million US$ in December 2012, the total obligation decreased consistently over the following three years, concluding at 22,502 million US$ by December 31, 2015.
- Total Debt Trajectory
- A reduction of approximately 15.7% in total debt was observed from the 2012 peak to the 2015 year-end. This consistent decline indicates a systematic reduction in the company's overall leverage over the analyzed period.
- Analysis of Current Maturities
- Current maturities of long-term debt experienced a significant and sharp contraction. From a high of 2,122 million US$ in 2011, these obligations decreased to 5 million US$ by December 31, 2015. The precipitous drop between 2014 and 2015 suggests a substantial repayment of short-term obligations or a comprehensive refinancing of debt into longer-term instruments.
- Long-Term Debt Profile
- Long-term debt, excluding current maturities, remained the primary driver of the total debt carrying amount. Following a slight increase to 25,171 million US$ in 2012, this balance declined steadily to 22,497 million US$ by 2015, reflecting a gradual decrease in the company's long-term borrowing.
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Total Debt (Fair Value)
| Dec 31, 2015 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Senior notes and debentures | 23,637) |
| Commercial paper program | —) |
| Capital leases | 76) |
| Total debt (fair value) | 23,713) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.05 |
Based on: 10-K (reporting date: 2015-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate for the senior notes and debentures: 6.22%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 6.22% | 22,426) | 1,394) | |
| Total | 22,426) | 1,394) | |
| 6.22% | |||
Based on: 10-K (reporting date: 2015-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,394 ÷ 22,426 = 6.22%