KLA Corp. (NASDAQ:KLAC)

The analysis of the debt data over the reported periods reveals several notable trends and shifts in the composition and magnitude of the reported liabilities.

Short-term debt

Reported only in the year ended June 30, 2021, at $20,000 thousand, with no recorded balances in subsequent years. This indicates a brief presence of short-term debt that was either repaid or reclassified in later periods.

Current portion of long-term debt

Absent in all years except for the period ending June 30, 2024, where it appears significantly high at $749,936 thousand. The sudden appearance suggests a reclassification of long-term debt into current liabilities, likely reflecting upcoming maturities due within the next year. This reclassification impacts short-term liquidity considerations for that reporting period.

Long-term debt, excluding current portion

Displayed a relatively stable figure from June 2020 ($3,469,670 thousand) to June 2021 ($3,422,767 thousand). However, this was followed by a marked increase to $6,660,718 thousand in June 2022, nearly doubling the prior amounts. Subsequently, it decreased to $5,890,736 thousand in June 2023 and stabilized around $5.88 billion in the following years. This volatility may indicate new debt issuance or refinancing activities occurring in mid-2022, followed by repayments or adjustments thereafter.

Total debt (carrying amount)

The total debt closely mirrors the long-term debt figures with minor differences attributed to short-term borrowings and current portions of long-term debt. It rose substantially from $3,442,767 thousand in 2021 to a peak of $6,630,135 thousand in June 2024 before decreasing again in June 2025 to $5,884,257 thousand. This pattern reflects the large spikes and repayments seen in the individual debt components, confirming the shifting debt structure and timing of maturities.

Overall, the data indicates a significant restructuring or refinancing event around 2022, characterized by a sudden increase in long-term debt. The temporary classification of a large current portion in 2024 points to debt maturing within one year, with an overall reduction in total debt size seen by 2025. The absence of short-term debt except for 2021, combined with the major variations in long-term debt, suggests strategic management of debt maturity profiles and potentially shifting financing strategies over the observed periods.