WHAT A LOAD OF.............DEBT!

The following example will demonstrate how to QUICKLY and EASILY compare debt figures for FDX and AMZN using inline XBRL.

What is Inline XBRL?

Inline XBRL is a format that allows filers to embed XBRL data directly into a HyperText Markup Language (HTML) document so that filers need only prepare one Inline XBRL document rather than generate an HTML document of their financial statement information or risk/return summary information and then tag a copy of the data to create a separate XBRL exhibit.

For data users, Inline XBRL provides an easier way to view, access, and explore the contextual information of the underlying data. For example, users can hover over values in the filing to find more information about the data, such as citations and hyperlinks to the relevant accounting guidance, narrative definitions for the values, and reporting period information associated with each value.

On June 28, 2018, the SEC adopted amendments requiring the use, on a phased in basis, of Inline XBRL for operating company financial statement information and fund risk/return summary information.

My opinion is based on my views and is not an investment recommendation.

Fred Smith is a marketing genius but he just cant keep up with this debt load when facing Amazon. An example of Smith's marketing skills was when Lindon Leader introduced the new logo to the FedEx board in 1994. Leader is a very clever chap that had an interview in 2004 explaining how he didn't have to sell the CEO Fred Smith at all. Smith recognized the arrow between the E and X immediately.

My opinion is strong due to three reasons:

1 - Scott Galloway will back me up.

2 - FDX has one business and it's logistics.

3 - FDX has 18.6 Billion in debt compared to AMZN's 24.3 Billion.

I grabbed these numbers using inline XBRL. I used to have to strain my eyes for HOURS finding this type of detail in 10Qs and Ks.

XBRL is changing everything and CatFIX loves it. XBRL stands for eXtensible Business Reporting Language and the SEC has been on a mission to have it implemented. The new Inline XBRL makes data extraction very simple so I can write a newsletter like this in under an hour.

First pull up the last 10Q for FDX and AMZN on EDGAR.

Click on the first line of that has iXBRL.

Now lets break down how easy it is to retrieve the debt figures.

Use the Tag: us-gaap:DebtDisclosureTextBlock. 


Long-term debt, including current maturities and exclusive of finance leases, had carrying values of $18.6 billion at November 30, 2019 and $17.5 billion at May 31, 2019, compared with estimated fair values of $19.6 billion at November 30, 2019 and $17.8 billion at May 31, 2019

Here is what FDX sends for Tag: us-gaap:DebtDisclosureTextBlock

AMZN (also puts in a nice table format)

As of September 30, 2019, we had $24.3 billion of unsecured senior notes outstanding (the “Notes”). As of December 31, 2018 and September 30, 2019, the net unamortized discount and debt issuance costs on the Notes was $101 million. We also have other long-term debt with a carrying amount, including the current portion and borrowings under our credit facility, of $715 million and $1.2 billion as of December 31, 2018 and September 30, 2019. The face value of our total long-term debt obligations is as follows (in millions):

Here is what AMZN sends for Tag: us-gaap:DebtDisclosureTextBlock

Now click here to see an insane animation of the yield curve for FDX. Source on XBRL: https://www.sec.gov/structureddata/osd-inline-xbrl.html

15 views0 comments