Analysis of Debt
Total Debt (Carrying Amount)
Fiserv Inc., balance sheet: debt
US$ in millions
Based on: 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), 10-K (reporting date: 2017-12-31).
- Short-term and current maturities of long-term debt
- There is a marked increase in short-term and current maturities of long-term debt over the five-year period. Starting from a very low base of 3 million USD at the end of 2017, the figure slightly increased to 4 million USD in 2018, followed by a sharp surge to 287 million USD in 2019. The upward trend continued with increases to 384 million USD in 2020 and 508 million USD in 2021. This pattern indicates a growing portion of the company’s debt is becoming short-term, potentially implying increased near-term repayment or refinancing obligations.
- Long-term debt, excluding current maturities
- The long-term debt excluding current maturities showed steady growth between 2017 and 2018, moving from 4,897 million USD to 5,955 million USD. However, in 2019, there was an exceptional spike to 21,612 million USD, representing more than a threefold increase compared to the previous year. This level slightly decreased to 20,300 million USD in 2020 and rose marginally to 20,729 million USD in 2021. The sharp increase observed in 2019 suggests a significant financing event or acquisition that substantially raised the company’s long-term debt at that point. The stabilization around the 20 billion USD mark in subsequent years points to a sustained higher long-term debt level.
- Total debt (carrying amount)
- The total debt reflects the combined effects of the changes in both short-term maturities and long-term debt. It rose from 4,900 million USD in 2017 to 5,959 million USD in 2018, followed by a sharp increase to 21,899 million USD in 2019. After peaking in 2019, total debt decreased somewhat to 20,684 million USD in 2020, before experiencing a slight increase to 21,237 million USD in 2021. This trend mirrors the patterns seen in the individual debt components and confirms a significant increase in the company's overall indebtedness starting in 2019, with a relatively stable but elevated level thereafter.
Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Debt, excluding finance leases and other financing obligations | 21,800) |
| Finance lease and other financing obligations | 796) |
| Total debt (fair value) | 22,596) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.06 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 2.97%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 21.01% | 240) | 50) | |
| 3.50% | 700) | 25) | |
| 0.38% | 566) | 2) | |
| 3.80% | 1,000) | 38) | |
| 2.75% | 2,000) | 55) | |
| 3.85% | 900) | 35) | |
| 2.25% | 705) | 16) | |
| 3.20% | 2,000) | 64) | |
| 2.25% | 1,000) | 23) | |
| 1.13% | 566) | 6) | |
| 4.20% | 1,000) | 42) | |
| 3.50% | 3,000) | 105) | |
| 2.65% | 1,000) | 27) | |
| 1.63% | 566) | 9) | |
| 3.00% | 705) | 21) | |
| 4.40% | 2,000) | 88) | |
| 0.30% | 916) | 3) | |
| -0.42% | 905) | (4) | |
| 1.16% | 97) | 1) | |
| 0.95% | 500) | 5) | |
| 1.35% | 200) | 3) | |
| 2.70% | 130) | 4) | |
| 2.70% | 313) | 8) | |
| Total | 21,009) | 625) | |
| 2.97% | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 625 ÷ 21,009 = 2.97%