Analysis of Debt
Total Debt (Carrying Amount)
Expand Energy Corp., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The data reveals a fluctuating trend in the debt structure over the four-year period. The total debt carrying amount shows an initial increase from 2,278 million US dollars in 2021 to 3,093 million US dollars in 2022, followed by a notable decrease to 2,028 million US dollars in 2023. Subsequently, there is a significant surge to 5,680 million US dollars in 2024.
A detailed look at the composition of the debt indicates that the long-term debt, net of current maturities, follows a similar pattern. It rises from 2,278 million US dollars in 2021 to 3,093 million in 2022, then declines to 2,028 million in 2023. This is followed by a sharp increase to 5,291 million in 2024. The notable observation is that the current maturities of long-term debt, net, which were unreported or unavailable for the first three years, appear at 389 million US dollars in 2024.
This shift suggests a change in the company's debt structure in the latest year, with a larger portion of debt classified as current maturities. The sharp increase in total debt and long-term debt in 2024 indicates substantial new borrowings or refinancing activities. The emergence of current maturities on the balance sheet hints at an upcoming repayment obligation within the next year, which may affect liquidity or require attention in financial planning.
Overall, the company's debt exhibits volatility, with a pronounced increase in 2024, potentially signaling strategic financial decisions or changes in capital requirements. Monitoring the upcoming maturity of debt and its impact on cash flows will be important for assessing financial risk going forward.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total debt (fair value) | 5,548) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.98 |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 5.55%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.95% | 389) | 19) | |
| 5.50% | 47) | 3) | |
| 5.38% | 684) | 37) | |
| 5.88% | 494) | 29) | |
| 6.75% | 959) | 65) | |
| 5.38% | 1,174) | 63) | |
| 4.75% | 1,067) | 51) | |
| 5.70% | 734) | 42) | |
| Total | 5,548) | 308) | |
| 5.55% | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 308 ÷ 5,548 = 5.55%