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 total debt carrying amount of Expand Energy Corp. exhibited significant volatility between 2021 and 2024, characterized by a period of fluctuation followed by a substantial escalation in the final reporting year.
- Total Debt Trajectory
- Total debt rose from US$ 2,278 million on December 31, 2021, to US$ 3,093 million by December 31, 2022. A subsequent reduction occurred in 2023, with the carrying amount falling to US$ 2,028 million, marking the lowest debt level in the four-year sequence. This trend reversed sharply by December 31, 2024, as total debt surged to US$ 5,680 million, representing an increase of approximately 180% compared to the previous year.
- Debt Composition and Maturity Structure
- For the periods ending in 2021, 2022, and 2023, the total debt consisted entirely of long-term debt excluding current maturities. However, as of December 31, 2024, the composition shifted to include US$ 389 million in current maturities of long-term debt and US$ 5,291 million in non-current long-term debt. This indicates that while the overall debt load increased significantly, approximately 6.8% of the total carrying amount has transitioned to short-term obligations due within one year.
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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%