Debt Workpaper: Rollforward, Maturities, Covenants and Fair Value
Supports the debt note and the liquidity discussion: an instrument-level rollforward of principal and unamortized discount / issuance costs to carrying amount, the current portion, interest expense, the five-year maturity table, covenant compliance with headroom, and fair value with its hierarchy level.
Tab structure
- Instructions
- Setup (with workpaper header and the covenant headroom threshold)
- Summary & Tie-out
- Debt Register – principal rollforward, unamortized discount and issuance costs, carrying amount, current portion, fair value at both dates and level, interest expense; ties to the balance sheet, cash flow statement and income statement
- Maturities – years 1–5 and thereafter by instrument, each row tied to ending principal; reconciliation to carrying amount
- Covenants – required vs actual, headroom and headroom %, Compliant / tight / BREACH, waiver, classification consequence (ASC 470-10-45-11), MD&A flag
- Judgments
- Completeness & Controls
- Open Items
- Sign-offs & Refs
- Tickmarks
- Lists
Built on the common workpaper framework – see the templates overview.
Key checks and flags
- Carrying amount, current portion, borrowings, repayments, amortization and interest tie to the statements
- Each maturity row equals ending principal; the table reconciles to carrying amount
- Breaches without a waiver block the conclusion; tight covenants are listed for MD&A
- Past-maturity balances, missing fair values or levels, and current portion above carrying are flagged
- Variable-rate principal totalled for the Item 305 market-risk discussion
- In a 10-Q, year 1 is the remainder of the fiscal year
Who uses it
Treasury and SEC reporting preparing the debt note, fair value disclosure and the liquidity and capital resources section.
Primary sources
Previews
Rendered from the actual workbook with illustrative sample data ("Example Company, Inc.", period end December 31, 2026). Scroll sideways on small screens.
Debt Register
Debt Register tab: principal and issuance-cost rollforward to carrying amount.
Covenants
Covenants tab: required vs actual, headroom and result.