Analysis of Debt
Total Debt (Carrying Amount)
Analog Devices Inc., balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2024-11-02), 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02).
- Debt, Current
- The current debt experienced a significant increase from approximately $299.7 million in late 2019 to about $516.7 million in late 2021. Following this peak, figures for 2022 are missing; however, for 2023 and 2024, there is a noted decrease, with values of approximately $499.1 million and $399.6 million respectively, indicating a declining trend in short-term obligations during the most recent periods.
- Commercial Paper Notes
- No data is available prior to 2023 for commercial paper notes. Starting in 2023, the company reported substantial issuance of commercial paper notes, with amounts slightly increasing from $547.2 million in 2023 to $547.7 million in 2024. This emergence suggests a strategic use of short-term debt instruments in the later periods.
- Long-Term Debt, Excluding Current
- Long-term debt exhibited relatively stable levels around $5.15 billion in 2019 and 2020, followed by a notable rise to approximately $6.25 billion in 2021 and further incremental growth into 2022, reaching about $6.55 billion. However, there was a decline in 2023 to around $5.90 billion before climbing again to approximately $6.63 billion in 2024. Overall, the long-term debt maintains a generally upward trajectory with some fluctuations, reflecting adjustments in long-term financing strategies.
- Total Debt (Carrying Amount)
- Total debt showed a slight decrease from $5.49 billion in 2019 to $5.15 billion in 2020, then a substantial increase to about $6.77 billion in 2021. There was a small decrease to approximately $6.55 billion in 2022, followed by an increase to nearly $6.95 billion in 2023 and further growth to $7.58 billion in 2024. This pattern indicates an overall increasing leverage over the period, with some volatility in the intermediate years.
Total Debt (Fair Value)
| Nov 2, 2024 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Commercial paper notes | 547,738) |
| Notes | 6,250,203) |
| Total debt (fair value) | 6,797,941) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.90 |
Based on: 10-K (reporting date: 2024-11-02).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 3.40%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.95% | 397,027) | 11,712) | |
| 3.50% | 882,795) | 30,898) | |
| 3.45% | 421,077) | 14,527) | |
| 1.70% | 673,316) | 11,446) | |
| 2.10% | 843,766) | 17,719) | |
| 4.25% | 287,172) | 12,205) | |
| 5.05% | 553,375) | 27,945) | |
| 4.50% | 136,718) | 6,152) | |
| 2.80% | 534,435) | 14,964) | |
| 5.30% | 322,942) | 17,116) | |
| 2.95% | 655,668) | 19,342) | |
| 5.30% | 541,912) | 28,721) | |
| Total | 6,250,203) | 212,749) | |
| 3.40% | |||
Based on: 10-K (reporting date: 2024-11-02).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 212,749 ÷ 6,250,203 = 3.40%