ON Semiconductor Corp., balance sheet: debt

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Current portion of financing lease liabilities	800)	14,200)	12,700)	—)	—)
Current portion of long-term debt	794,000)	147,800)	160,700)	531,600)	736,000)
Long-term debt, excluding current portion	2,542,600)	3,045,700)	2,913,900)	2,959,700)	2,876,500)
Long-term financing lease liabilities	22,400)	23,000)	10,200)	—)	—)
Total long-term debt and financing lease liabilities, including current portion (carrying amount)	3,359,800)	3,230,700)	3,097,500)	3,491,300)	3,612,500)

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Debt item	Description	The company
Total long-term debt and financing lease liabilities, including current portion (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	ON Semiconductor Corp. total debt increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023
Selected Financial Data (US$ in thousands)
0% Notes	1,334,400)
0.50% Notes	1,596,600)
1.625% Notes	—)
3.875% Notes	652,000)
Other convertible notes	—)
Long-term debt	390,600)
Financing lease liabilities	23,200)
Total long-term debt and financing lease liabilities, including current portion (fair value)	3,996,800)
Financial Ratio
Debt, fair value to carrying amount ratio	1.19

Weighted-average interest rate on debt and financing lease liabilities: 2.71%

Interest rate	Debt amount¹	Interest rate × Debt amount
6.71%	375,000)	25,163)
0.85%	1,500,000)	12,750)
3.20%	804,900)	25,757)
3.88%	700,000)	27,125)
6.20%	23,200)	1,438)
Total	3,403,100)	92,233)
2.71%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 92,233 ÷ 3,403,100 = 2.71%

ON Semiconductor Corp. (NASDAQ:ON)

Analysis of Debt