Apple’s New Debt: $3.25 Billion Falls Due by 2029
Apple completed a $7.5 billion note issue, with about 43% of the principal due in 2028 and 2029. Fixed and floating rates create different interest exposures.
The research.
The reasoning.
Filing-anchored work on capital structure, debt, dilution, financing, refinancing, credit and payout mechanics. Each record identifies its source, period, definitions and analytical limits.
Daily Brief
A short read on company filings, with the facts checked before publication.
COP’s Cash Returns Trail Free Cash Flow by $631 Million
ConocoPhillips’ third-quarter dividends and buybacks were below its defined free cash flow; asset-sale proceeds and the new dividend belong to separate cash-flow questions.
3M’s $5.8 Billion Charge Comes With a Longer Cash Schedule
3M’s new PFAS settlement separates a present-value accounting charge from a conditional payment schedule extending through 2034.
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All filing labs →Original filing exercises and calculations.
These historical educational exercises show the source documents, units, calculation steps and limits on this site. They are separate from the external publication records below, not copies of those articles or current investment recommendations.
Realty Income: reconstruct AFFO
Follow the issuer reconciliation and distinguish reported earnings from adjusted funds available for the payout comparison.
Ares Capital: income and distributions
Recalculate the NII comparison and check the distribution denominator against the source filing.
Apple: cash flow and capital returns
Trace operating cash flow, capital spending, dividends and repurchases without treating different cash-flow definitions as interchangeable.
External publication archive
The records below link to the original publisher. Benzinga articles open on Benzinga; their original publication dates, attribution and disclosures remain intact.
20 selected research recordsAnalysis by Jeong-Mo Goo · See each dated article for disclosures
CoreWeave’s $4.2B Private Offering And What It Changes
Principal raised, cash available after transaction costs and potential dilution are separate measures. The convertible financing adds capital while leaving deployment and settlement choices to subsequent disclosures.
CRWV / Cloud infrastructure / financing / BenzingaMillrose’s $1 Billion Bond Deal Ties $500M To Merger Deadline
A bond redemption condition and possible bank funding make the eventual debt mix contingent on a merger and the use of proceeds. Fixed coupons do not establish the final company-wide financing cost.
MRP / Land / financing / BenzingaReady Capital Refinancing Not As Straightforward As It Seems
A smaller refinancing can still carry higher annual stated-coupon interest. Principal reduction, the cash funding gap and the company’s earnings recovery require separate tests.
RC / Mortgage REIT / refinancing / BenzingaPiedmont Reworks Debt Stack, But What Happens To Core FFO Per Share?
A lower exchangeable-note coupon sits inside a wider financing mix of equity settlements, revolver borrowings and a concurrent share repurchase. The next check is post-transaction Core FFO per share.
PDM / Office / refinancing / BenzingaBlue Owl Technology's $800M Financing Run Puts Dividend Coverage In Focus
Three financing transactions serve different functions. The recurring dividend test still sits in net investment income per share.
OTF / Technology lending / BenzingaHow AHR's $873M Kensington Deal Could Shift Its Dividend Payout Ratio
Acquisition closings and forward equity settlements move on different schedules. The post-deal per-share result connects them.
AHR / Healthcare / BenzingaMid-America Apartment Communities' 8.5% Preferred Stock Redemption Seen As Accretive To Core FFO-Per-Share
A scheduled preferred-stock redemption exchanges preferred dividend payments for common-equity funding and a changing share denominator.
MAA / Residential / BenzingaSaratoga Investment Pushes Debt Maturity To 2031, But Dividend Coverage Remains Under Pressure
Replacing a lower-coupon maturity does not automatically resolve the gap between net investment income and the regular distribution.
SAR / Refinancing / BenzingaHow Ryman's $1.38B Grande Lakes Deal Shifts The Dividend Math
Equity and debt financing change the cash requirements and share count behind a pre-acquisition payout ratio.
RHP / Hospitality / BenzingaHow The Prologis-SEGRO Deal Could Change The Dividend Payout Dynamics
An expanded equity base makes post-close per-share earnings more informative than the standalone payout snapshot.
PLD / SEGRO / Logistics / BenzingaPublic Storage Vs. Extra Space: A Dividend Comparison
Two guidance-based payout ratios sit above different same-store operating trends and different financing structures.
PSA / EXR / Self-storage / BenzingaEquinix vs. Digital Realty: Why Dividend Payout Ratios Aren’t Created Equal
Two full-year payout ratios, with issuer-defined denominators that carry different quarter-specific items underneath them.
EQIX / DLR / Data centers / BenzingaSBA vs. Crown Castle: What Their Debt Tables Actually Say
The same anticipated-repayment-date convention governs very different shares of two disclosed debt bases.
SBAC / CCI / Towers / BenzingaVICI vs. GLPI: 73% And 80% Payouts, One Refinancing Already Priced
Similar payout claims sit above different maturity calendars; one replacement financing was already priced in the record.
VICI / GLPI / Gaming net lease / BenzingaAgree Realty vs NNN REIT: Two 70% Payouts, 4x Unsettled Equity
Two payout ratios half a percentage point apart, and two entirely different capital timetables underneath them.
ADC / NNN / Net lease / BenzingaMid-America vs W. P. Carey: Why One Dividend Claimed 86% of Core AFFO
Two REIT dividends and two different amounts of room, read from the same quarter’s supplementals.
MAA / WPC / Residential and net lease / BenzingaUPS vs FedEx: Why One Dividend Claimed 99% of Free Cash Flow
Two familiar dividend names. Two very different amounts of cash left after the payout.
UPS / FDX / Logistics / BenzingaAT&T and Verizon: The Higher Yield Has the Thinner Cushion
The larger yield does not automatically leave more room. Coverage reveals what the percentage hides.
T / VZ / Telecom / BenzingaAgree Realty and Global Net Lease: One Yields 4%, One Yields 8%. The Balance Sheet Sets the Spread.
A similar tax structure can hide very different financing costs. The yield gap begins with the balance sheet.
ADC / GNL / Net lease / BenzingaCovered, Not Collected: PIK Income and the Q1 2026 BDC Distribution Stack
Reported income can support a dividend before the cash is collected. PIK changes what “covered” means.
BDC / PIK / Private credit / BenzingaNo matching research.
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This is a selected archive, not the author's complete publication count. Article dates and findings refer to the original publication. More work on Benzinga ↗
Beyond the articleThe working papers
The working papers
are part of the work.
Report No. 001 pairs the MAA / W. P. Carey analysis with debt ladders, covenant tables and eight reconciliations to issuer-reported totals.
25 pages in two volumes. Free with email.