Analysis of Debt
Total Debt (Carrying Amount)
Paramount Global, balance sheet: debt
US$ in millions
Based on: 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), 10-K (reporting date: 2018-12-31).
Total debt (carrying amount) exhibited a period of rapid expansion followed by a gradual deleveraging phase between December 31, 2018, and December 31, 2022. The total debt profile reached its peak in 2020 before entering a consistent downward trajectory over the subsequent two years.
- Total Debt Trends
- A substantial increase in total debt is observed between 2018 and 2019, with the carrying amount rising from 10,152 million US dollars to 18,719 million US dollars. This growth continued into 2020, peaking at 19,733 million US dollars. From 2021 onward, a contraction trend emerged, with total debt decreasing to 17,709 million US dollars in 2021 and further to 15,846 million US dollars by the end of 2022.
- Long-term Debt Composition
- Long-term debt, net of current portions, represents the primary component of the total debt structure. This segment experienced a sharp escalation between 2018 and 2019, increasing from 9,465 million US dollars to 18,002 million US dollars. After reaching a high of 19,717 million US dollars in 2020, long-term debt declined for two consecutive years, ending the period at 15,607 million US dollars.
- Current Debt Volatility
- Current debt maintained a relatively marginal impact on the overall debt balance but showed significant volatility. After remaining stable near 700 million US dollars in 2018 and 2019, current debt obligations dropped precipitously to 16 million US dollars in 2020 and 11 million US dollars in 2021. A partial recovery in current debt levels is observed in 2022, with the amount rising to 239 million US dollars.
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Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | —) |
| Notes and debentures | 13,900) |
| Other bank borrowings | 55) |
| Obligations under finance leases | 10) |
| Total debt (fair value) | 13,965) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.88 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 5.16%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 7.88% | 139) | 11) | |
| 7.12% | 35) | 2) | |
| 4.75% | 552) | 26) | |
| 4.00% | 795) | 32) | |
| 3.45% | 124) | 4) | |
| 2.90% | 694) | 20) | |
| 3.38% | 496) | 17) | |
| 3.70% | 494) | 18) | |
| 4.20% | 495) | 21) | |
| 7.88% | 830) | 65) | |
| 4.95% | 1,226) | 61) | |
| 4.20% | 975) | 41) | |
| 5.50% | 427) | 23) | |
| 4.85% | 87) | 4) | |
| 6.88% | 1,071) | 74) | |
| 6.75% | 75) | 5) | |
| 5.90% | 298) | 18) | |
| 4.50% | 45) | 2) | |
| 4.85% | 488) | 24) | |
| 4.38% | 1,130) | 49) | |
| 4.88% | 18) | 1) | |
| 5.85% | 1,233) | 72) | |
| 5.25% | 345) | 18) | |
| 4.90% | 541) | 27) | |
| 4.60% | 590) | 27) | |
| 4.95% | 946) | 47) | |
| 6.25% | 643) | 40) | |
| 6.38% | 989) | 63) | |
| 7.09% | 55) | 4) | |
| Total | 15,836) | 817) | |
| 5.16% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 817 ÷ 15,836 = 5.16%