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Interpreting Debt Footnotes on Interest Rates and Interest Expense Boston Scientific discloses the following as part of its long-term debt footnote in its December 31, 2018 10-K. (1) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. Boston Scientific discloses its required principal debt repayments due during each of the next five years and thereafter. Boston Scientific also discloses the following information. Interest Expense The following table provides a summary of our Interest expense and average borrowing rate: Interest Expense The following table provides a summary of our Interest expense and average borrowing rate: The price of the Boston Scientific's bonds in February 2019 follows. Required a. What amount of Boston Scientific's long-term debt is due in 2019?$ million b. What is the total amount of Boston Scientific's long-term debt at December 31,2018 , including the current maturities? \$ milion c. The company's balance sheet reports short-term debt including current maturities of $2,028 million and $1,621 million in 2018 and 2017 , respectively. Compute the average effective interest rate on the company's total debt for fiscal 2018. Compare this to the average interest rate the company reports. 3/16/23, 6:33 PM Homework 7 Note: Do not round until your final answer. Note: Round your final percentage answer to one decimal place (for example, enter 6.7\% for 6.6555\%). Interpreting Debt Footnotes on Interest Rates and Interest Expense Boston Scientific discloses the following as part of its long-term debt footnote in its December 31, 2018 10-K. (1) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. Boston Scientific discloses its required principal debt repayments due during each of the next five years and thereafter. Boston Scientific also discloses the following information. Interest Expense The following table provides a summary of our Interest expense and average borrowing rate: Interest Expense The following table provides a summary of our Interest expense and average borrowing rate: The price of the Boston Scientific's bonds in February 2019 follows. Required a. What amount of Boston Scientific's long-term debt is due in 2019?$ million b. What is the total amount of Boston Scientific's long-term debt at December 31,2018 , including the current maturities? \$ milion c. The company's balance sheet reports short-term debt including current maturities of $2,028 million and $1,621 million in 2018 and 2017 , respectively. Compute the average effective interest rate on the company's total debt for fiscal 2018. Compare this to the average interest rate the company reports. 3/16/23, 6:33 PM Homework 7 Note: Do not round until your final answer. Note: Round your final percentage answer to one decimal place (for example, enter 6.7\% for 6.6555\%)
