Analysis of Debt

First Solar 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 long-term debt	—)	3,896)	41,540)	17,510)	5,570)
Long-term debt, noncurrent portion	184,349)	236,005)	237,691)	454,187)	461,221)
Total long-term debt, including current maturities (carrying amount)	184,349)	239,901)	279,231)	471,697)	466,791)

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Debt item	Description	The company
Total long-term debt, including current maturities (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	First Solar Inc. total debt decreased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in thousands)
Total long-term debt, including current maturities (fair value)	160,986)
Financial Ratio
Debt, fair value to carrying amount ratio	0.87

Weighted-average effective interest rate on debt: 4.96%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.96%	185,000)	9,176)
Total	185,000)	9,176)
4.96%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 9,176 ÷ 185,000 = 4.96%

First Solar Inc. (NASDAQ:FSLR)