Fortis (TSX:FTS.PR.F.PFD) Interest Expense : C$-1,305.00 Mil (TTM As of Dec. 2023)

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What is Fortis Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Fortis's interest expense for the three months ended in Dec. 2023 was C$ -336.00 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was C$-1,305.00 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. Fortis's Operating Income for the three months ended in Dec. 2023 was C$ 779.00 Mil. Fortis's Interest Expense for the three months ended in Dec. 2023 was C$ -336.00 Mil. Fortis's Interest Coverage for the quarter that ended in Dec. 2023 was 2.32. 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.

Fortis Interest Expense Historical Data

The historical data trend for Fortis'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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Fortis Interest Expense Chart

Fortis Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-1,035.00

-1,042.00

-1,003.00

-1,102.00

-1,305.00

Fortis 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															-298.00	-315.00	-323.00	-331.00	-336.00

Fortis 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 C$-1,305.00 Mil.

Fortis (TSX:FTS.PR.F.PFD) 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.

Fortis's Interest Expense for the three months ended in Dec. 2023 was C$-336.00 Mil. Its Operating Income for the three months ended in Dec. 2023 was C$779.00 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was C$27,613.00 Mil.

Fortis'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	*	779	/	-336
	=	2.32

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. Fortis Inc interest coverage is 2.36, which is low.

Fortis (TSX:FTS.PR.F.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Fortis Inc (TSX:FTS.PR.F.PFD) » Definitions » Interest Expense

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Address

5 Springdale Street, Suite 1100, Fortis Place, St. John’s, NL, CAN, A1E 0E4

Website

https://www.fortisinc.com

Fortis owns and operates eight utility transmission and distribution subsidiaries in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. Subsidiary ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation.

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