Analysis of Debt
Total Debt (Carrying Amount)
NXP Semiconductors N.V., 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), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
Total debt exhibits a consistent upward trajectory over the analyzed five-year period, growing from US$ 6,565 million in 2017 to US$ 10,572 million by the end of 2021. This represents a total increase of approximately 61%, indicating a strategic expansion of leverage.
- Total Debt Accumulation
- The aggregate carrying amount of debt rose steadily between 2017 and 2020, moving from US$ 6,565 million to US$ 7,609 million. A significant acceleration in borrowing is observed in 2021, where total debt increased by US$ 2,963 million in a single fiscal year, marking the most substantial growth phase in the observed period.
- Shift in Debt Maturity Profile
- A transition in the composition of liabilities occurred between 2018 and 2019. While short-term debt was present in 2017 and 2018, reaching US$ 1,107 million in the latter year, it was absent from the carrying amount starting in 2019. From 2019 through 2021, the total debt consists exclusively of long-term obligations, suggesting a strategic pivot toward longer-term financing to reduce immediate liquidity pressures.
- Long-Term Debt Expansion
- Long-term debt served as the primary driver of the overall increase in liabilities. It grew from US$ 5,814 million in 2017 to US$ 10,572 million in 2021. The growth was relatively moderate between 2019 and 2020, followed by a sharp increase of nearly 39% in 2021, indicating a substantial acquisition of new long-term capital.
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Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total current and non-current debt (fair value) | 11,300) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.07 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 3.72%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.63% | 900) | 42) | |
| 4.88% | 1,000) | 49) | |
| 2.70% | 500) | 14) | |
| 5.35% | 500) | 27) | |
| 3.88% | 750) | 29) | |
| 3.15% | 500) | 16) | |
| 5.55% | 500) | 28) | |
| 4.30% | 1,000) | 43) | |
| 3.40% | 1,000) | 34) | |
| 2.50% | 1,000) | 25) | |
| 2.65% | 1,000) | 27) | |
| 3.25% | 1,000) | 33) | |
| 3.13% | 500) | 16) | |
| 3.25% | 500) | 16) | |
| Total | 10,650) | 396) | |
| 3.72% | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 396 ÷ 10,650 = 3.72%