DILLARD'S, INC. Debt Disclosure
4. Long-Term Debt
Long-term debt, including any current portion, of $321.7 million and $321.6 million was outstanding at January 31, 2026 and February 1, 2025, respectively. The debt outstanding at January 31, 2026 consisted of unsecured notes, bearing interest rates ranging from 7.000% to 7.750% and maturing during fiscal 2026 through fiscal 2028. There are no financial covenants under any of the debt agreements.
Long-term debt maturities over the next five years are (in millions):
| Long-Term Debt | ||
Fiscal Year | Maturities | ||
2026 | $ | 96.0 | |
2027 | 80.0 | ||
2028 |
| 145.8 | |
2029 |
| — | |
2030 |
| — | |
Net interest and debt (income) expense consists of the following:
(in thousands of dollars) | | Fiscal 2025 | | Fiscal 2024 | | Fiscal 2023 | |||
Interest on long-term debt and subordinated debentures | $ | 38,119 | $ | 36,655 | $ | 37,308 | |||
Revolving credit facility expenses |
| 2,149 |
| 2,500 |
| 2,564 | |||
Amortization of debt expense |
| 763 |
| 714 |
| 712 | |||
Interest income |
| (47,212) |
| (53,569) |
| (45,240) | |||
Other interest |
| (49) |
| 5 |
| 56 | |||
$ | (6,230) | $ | (13,695) | $ | (4,600) | ||||
Interest paid during fiscal 2025, 2024 and 2023 was approximately $40.9 million, $37.5 million and $45.0 million, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 27, 2026 | Showing above |
| 2024 | Mar 29, 2024 | |
| 2023 | Mar 27, 2023 | |
| 2021 | Mar 29, 2021 | |
| 2020 | Mar 31, 2020 | |
| 2019 | Mar 29, 2019 | |
| 2018 | Mar 30, 2018 | |
| 2017 | Mar 24, 2017 | |
| 2016 | Mar 23, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.