Analysis of Debt

Cytokinetics Inc., balance sheet: debt

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Current portion of term loan	—)	—)	—)	—)	2,607)
Short-term finance lease liabilities	1,000)	500)	—)	—)	—)
Term loan, net, excluding current portion	63,810)	47,367)	46,209)	45,052)	39,806)
Convertible notes, net	545,808)	95,471)	89,504)	84,205)	—)
Long-term finance lease liabilities	1,001)	805)	—)	—)	—)
Total debt (carrying amount)	611,619)	144,143)	135,713)	129,257)	42,413)

Download chart

Debt item	Description	The company
Total debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Cytokinetics Inc. total debt increased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in thousands)
Term loan, net	63,810)
2026 Convertible Notes	94,800)
2027 Convertible Notes	620,300)
Finance lease liabilities	2,001)
Total debt (fair value)	780,911)
Financial Ratio
Debt, fair value to carrying amount ratio	1.28

Weighted-average interest rate on debt: 4.61%

Interest rate	Debt amount¹	Interest rate × Debt amount
8.05%	63,810)	5,137)
4.60%	20,679)	951)
4.17%	525,129)	21,898)
9.47%	2,001)	189)
Total	611,619)	28,175)
4.61%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 28,175 ÷ 611,619 = 4.61%

Cytokinetics Inc. (NASDAQ:CYTK)