Kohl's 2014 Annual Report Download - page 26
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Table of Contents
The following table includes our debt ratio calculation, as defined by our debt agreements, as of January 31, 2015:
Total debt $ 4,768
Permitted exclusions (7)
Subtotal 4,761
Rent x 8 2,216
Included Indebtedness $ 6,977
Net income $ 867
Rent expense 277
Depreciation and amortization 886
Net interest 340
Provision for income taxes 482
EBITDAR 2,852
Stock based compensation 48
Other non-cash revenues and expenses 13
Adjusted Debt Compliance EBITDAR $ 2,913
Debt Ratio (a) 2.40
Maximum permitted Debt Ratio 3.75
(a) Included Indebtedness divided by Adjusted Debt Compliance EBITDAR
The following table includes our Adjusted Debt to EBITDAR and debt/capitalization (a comparable GAAP measure) calculations:
Total Debt (net of discount)
$ 4,861
$ 4,553
Rent x 8
2,160
2,120
Adjusted Debt
$ 7,021
$ 6,673
Total Equity
$ 5,978
$ 6,048
EBITDAR per above
$ 2,901
$ 2,988
(a)
44.8%
42.9%
(b)
2.42
2.23
(a) Total debt divided by total debt and total equity
(b) Adjusted debt divided by EBITDAR
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