Analysis of Debt
Total Debt (Carrying Amount)
CoStar Group Inc., balance sheet: debt
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Long-term debt, net | 989,210) | 987,944) | 986,715) | —) | —) | |
| Total long-term debt, net (carrying amount) | 989,210) | 987,944) | 986,715) | —) | —) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The financial trajectory of long-term debt from 2020 through 2022 is characterized by extreme stability, with the carrying amount remaining nearly constant over the three-year period. After appearing in the records in 2020, the debt levels showed only marginal incremental growth.
- Debt Level Consistency
- Total long-term debt, net, was recorded at 986,715 thousand US dollars as of December 31, 2020. This figure rose slightly to 987,944 thousand US dollars in 2021 and reached 989,210 thousand US dollars by December 31, 2022. The total increase over the two-year interval from 2020 to 2022 was approximately 2,495 thousand US dollars, representing a negligible growth rate relative to the total principal.
- Historical Debt Occurrence
- There is a notable absence of reported long-term debt for the fiscal years ending December 31, 2018, and December 31, 2019. The sudden presence of nearly one billion US dollars in long-term debt starting in 2020 indicates a significant shift in the capital structure or a substantial borrowing event occurring at the start of that period.
- Carrying Amount Analysis
- The minimal variance in the net carrying amount suggests that the debt is likely structured with fixed terms and that repayments are being offset by amortization or minimal new drawdowns, resulting in a stagnant debt profile.
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Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total long-term debt, net (fair value) | 989,210) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.00 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on long-term debt: 2.80%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.80% | 1,000,000) | 28,000) | |
| Total | 1,000,000) | 28,000) | |
| 2.80% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 28,000 ÷ 1,000,000 = 2.80%