Total Debt (Carrying Amount)
Total Debt (Fair Value)
Weighted-average Interest Rate on Debt

Automatic Data Processing Inc., balance sheet: debt

US$ in thousands

	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016
Obligations under reverse repurchase agreements	23,500)	13,600)	262,000)	—)	—)	—)
Short-term debt	—)	1,001,800)	—)	—)	—)	—)
Long-term debt	2,985,000)	1,002,800)	2,002,200)	2,002,400)	2,002,400)	2,007,700)
Total debt (carrying amount)	3,008,500)	2,018,200)	2,264,200)	2,002,400)	2,002,400)	2,007,700)

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

Obligations under reverse repurchase agreements: This item first appears in fiscal year 2020 with a reported amount of 262,000 thousand US dollars, followed by a significant decrease to 13,600 thousand US dollars in 2021, and a slight increase to 23,500 thousand US dollars in 2022. The values indicate initial utilization of reverse repurchase agreements in 2020, followed by a sharp reduction and modest rebound in subsequent years.
Short-term debt: Short-term debt is only reported in 2020, amounting to 1,001,800 thousand US dollars, with no data provided for other years. This suggests a notable issuance or reporting of short-term liabilities exclusively in 2020, without subsequent or prior recorded amounts in the given periods.
Long-term debt: Long-term debt remains relatively stable from 2016 through 2019, with values close to 2,007,700 to 2,002,200 thousand US dollars. A marked decline is observed in 2020, dropping nearly by half to 1,002,800 thousand US dollars, followed by a substantial increase to 2,985,000 thousand US dollars in 2021. This pattern indicates a significant reduction in long-term obligations in 2020, possibly due to repayments or refinancing, with a considerable increase in the following year, highlighting a change in debt structure or capital strategy.
Total debt (carrying amount): Total debt shows a relatively stable trend from 2016 to 2018, with values around 2,007,700 to 2,002,400 thousand US dollars. In 2019, there is a noticeable rise to 2,264,200 thousand US dollars, followed by a decrease to 2,018,200 thousand US dollars in 2020. The total debt peaks significantly in 2021 at 3,008,500 thousand US dollars. The fluctuations in total debt align with changes in long-term debt, while the increase in 2019 and the peak in 2021 suggest strategic adjustments in overall debt levels, potentially reflecting funding for expansion or other corporate initiatives.

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	Jun 30, 2021
Selected Financial Data (US$ in thousands)
Obligations under reverse repurchase agreements	23,500)
Notes	3,060,400)
Other	6,900)
Total debt (fair value)	3,090,800)
Financial Ratio
Debt, fair value to carrying amount ratio	1.03

Based on: 10-K (reporting date: 2021-06-30).

Weighted average effective interest rate on debt: 2.37%

Interest rate	Debt amount¹	Interest rate × Debt amount
0.20%	23,500)	47)
3.47%	1,000,000)	34,700)
1.83%	1,000,000)	18,300)
1.85%	1,000,000)	18,500)
Total	3,023,500)	71,547)
2.37%

Based on: 10-K (reporting date: 2021-06-30).

¹ US$ in thousands

² Weighted-average interest rate = 100 × 71,547 ÷ 3,023,500 = 2.37%

Automatic Data Processing Inc. (NASDAQ:ADP)

Analysis of Debt

Total Debt (Carrying Amount)

Total Debt (Fair Value)

Weighted-average Interest Rate on Debt