Analysis of Debt

Applied Materials Inc., balance sheet: debt

US$ in millions

	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018
Short-term debt	100)	—)	—)	—)	—)	—)
Current portion of long-term debt	—)	—)	—)	—)	600)	—)
Finance lease liabilities, current	102)	—)	—)	—)	—)	—)
Long-term debt, net of current portion	5,461)	5,457)	5,452)	5,448)	4,713)	5,309)
Total debt and finance lease liabilities (carrying amount)	5,663)	5,457)	5,452)	5,448)	5,313)	5,309)

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Debt item	Description	The company
Total debt and finance lease liabilities (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Applied Materials Inc. total debt increased from 2021 to 2022 and from 2022 to 2023.

	Oct 29, 2023
Selected Financial Data (US$ in millions)
Unsecured commercial paper notes	100)
Current portion of long-term debt	—)
Long-term senior unsecured notes	4,700)
Finance lease liabilities	102)
Total debt and finance lease liabilities (fair value)	4,902)
Financial Ratio
Debt, fair value to carrying amount ratio	0.87

Weighted-average effective interest rate on debt and finance lease liabilities: 3.80%

Interest rate	Debt amount¹	Interest rate × Debt amount
5.39%	100)	5)
3.94%	700)	28)
3.34%	1,200)	40)
1.79%	750)	13)
5.13%	500)	26)
5.88%	600)	35)
4.36%	1,000)	44)
2.77%	750)	21)
4.60%	102)	5)
Total	5,702)	217)
3.80%

¹ US$ in millions

² Weighted-average interest rate = 100 × 217 ÷ 5,702 = 3.80%

Applied Materials Inc. (NASDAQ:AMAT)