US GAAP Disclosure Analysis (Prototype): Maturities of Long-Term Debt

To the left is a list of reporting entities who have provided a specific disclosure in their XBRL-based digital financial report. Click on the name of the entity and the disclosure will show up on the right. For more information please concact CharlesHoffman@olywa.net or go to http://xbrl.squarespace.com/journal/2014/12/21/understanding-primary-cause-of-errors-in-public-company-sec.html.

Maturities of Long-Term Debt

The following pieces fit together to provide information about long-term debt which can sometimes include capital leases as part of long term debt:

• Balance sheet line items: Typically the balance sheet contains line items for 'Current portion of long-term debt' and 'Long-term debt' which is the noncurrent portion of long-term debt. (Note that TOTAL long-term debt is not shown on classified balance sheets, unclassified balance sheets don't break out the current and noncurrent portions.)
• Note: If line items for long-term exist on the balance sheet, the SEC requires a 'Level 1 [Text Block] for the Debt disclosure. Debt includes both short term and long term debt. Separte notes can be provided for short-term debt and long-term debt.
• Maturities of long-term debt: If long-term debt exists, a maturities of long-term debt will exist. This entails both a Level 3 [Text Block] and Level 4 Detail disclosure of the exact same information.
• Long-term debt instruments: If long-term debt exists, a long-term debe instruments disclosure will exist. This entails both a Level 3 [Text Block] and Level 4 Detail disclosure of the exact same information.
• Other information is disclosed: KEEP IN MIND THE FOLLOWING. This analyis is NOT ABOUT analyzing everything that must be disclosed. This analysis is about analyzing the four specific pieces which must ALWAYS exist if long-term debt exists.

There are two issues which make detecting concepts challenging. The first is getting the correct matching sets of current and noncurrent concepts. The second is the correct set of debt (long term debt, capital lease obligations, long term debt and capital lease obligations). This creates numerous permutations of the combinations of concepts. Many of these seem irrational. The impute rules need to be adjusted to improve the algoritym.

The following are visual images of the four pieces described above using Best Buy which conforms to 100% of what is expected:

Balance sheet line items:

Debt note (combines short and long-term debt):

Maturities of long-term debt:

Long-term debt instruments:

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