CI Financial (CI Financial) Interest Expense

: $-131 Mil (TTM As of Dec. 2023)

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Interest Expense is the amount reported by a company or individual as an expense for borrowed money. CI Financial's interest expense for the three months ended in Dec. 2023 was $ -33 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-131 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. CI Financial's Operating Income for the three months ended in Dec. 2023 was $ 87 Mil. CI Financial's Interest Expense for the three months ended in Dec. 2023 was $ -33 Mil. CI Financial's Interest Coverage for the quarter that ended in Dec. 2023 was 2.67. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

CI Financial Interest Expense Historical Data

The historical data trend for CI Financial's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CI Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-42.09

-51.09

-85.68

-111.95

-131.93

CI Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-30.48	-34.48	-34.73	-29.41	-32.72

CI Financial Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-131 Mil.

CI Financial (OTCPK:CIXXF) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

CI Financial's Interest Expense for the three months ended in Dec. 2023 was $-33 Mil. Its Operating Income for the three months ended in Dec. 2023 was $87 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $2,501 Mil.

CI Financial's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	87.321	/	-32.716
	=	2.67

The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. CI Financial Corp interest coverage is 3.55, which is low.

CI Financial (CI Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » CI Financial Corp (OTCPK:CIXXF) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

CF7:Germany CIX:Canada

Address

15 York Street, 2nd Floor, Legal Department, Toronto, ON, CAN, M5J 0A3

Website

https://www.cifinancial.com

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 119.0 billion in core assets under management, another CAD 278.5 billion in wealth management assets under advisement, and CAD 23.4 billion in assets under custody at the end of September 2023, making it one of the largest nonbank affiliated asset managers in Canada. The company operates its fund business through CI Global Asset Management, which offers a broad selection of investment funds. On the wealth management side, the company operates through CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, as well as a large group of acquired U.S.-based advisors, providing financial advice primarily to high-net-worth clients.