Analysis of Debt
Total Debt (Carrying Amount)
Monster Beverage Corp., balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
The total carrying amount of finance lease liabilities exhibited a period of relative stability and modest decline from 2019 to 2022, followed by a substantial increase in 2023. This shift indicates a significant expansion of lease-related obligations during the most recent fiscal year.
- Total Finance Lease Liabilities Trend
- Between 2019 and 2022, total liabilities fluctuated within a narrow range, moving from $1,485 thousand to a low of $798 thousand. A sharp upward trajectory occurred in 2023, where the carrying amount rose to $6,468 thousand, representing a significant increase relative to the previous four-year average.
- Liability Composition and Maturity
- The debt profile is characterized by a heavy concentration of short-term obligations. Current finance lease liabilities drove the vast majority of the total balance in every reported year. By December 31, 2023, current liabilities accounted for $6,449 thousand, comprising nearly the entire total lease liability balance.
- Noncurrent Obligations Analysis
- Noncurrent finance lease liabilities remained immaterial throughout the analyzed period. After appearing in 2020, these liabilities peaked at $41 thousand in 2021 and 2022 before decreasing to $19 thousand in 2023, indicating that long-term finance lease debt plays a negligible role in the overall debt structure.
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Total Debt (Fair Value)
| Dec 31, 2023 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total finance lease liabilities (fair value) | 6,468) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.00 |
Based on: 10-K (reporting date: 2023-12-31).
Weighted-average Interest Rate on Debt
Weighted-average discount rate for finance leases: 6.30%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 6.30% | 6,468) | 407) | |
| Total | 6,468) | 407) | |
| 6.30% | |||
Based on: 10-K (reporting date: 2023-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 407 ÷ 6,468 = 6.30%