Paramount Global (NASDAQ:PARA)

The data reveals notable fluctuations in the debt structure over the five-year period under review. Total debt experienced a sharp increase between 2018 and 2019, rising from approximately $10.15 billion to $18.72 billion. In subsequent years, however, total debt gradually declined, falling to $15.85 billion by the end of 2022.

Examining the components of total debt provides further insight into the company’s debt management and capital structure. Current debt showed a significant reduction from $687 million at the end of 2018 to just $16 million by the end of 2020, indicating a substantial repayment or refinancing of short-term obligations. This low level of current debt persisted through 2021, but a notable increase occurred in 2022, with current debt rising sharply to $239 million. This uptick may signal a recent change in short-term financing strategy or an increase in working capital needs.

Long-term debt, net of the current portion, constituted the majority of total debt throughout the period. It surged dramatically from approximately $9.47 billion in 2018 to $18 billion in 2019, effectively doubling in a single year. After this peak in 2019, long-term debt experienced a gradual decline over the next three years, falling back to $15.61 billion by the end of 2022. Despite the reduction, the 2022 figure remains significantly higher than the level at the start of the period.

Overall, the debt profile shows a marked increase in leverage between 2018 and 2019, driven primarily by a sharp rise in long-term borrowings. This was followed by a period of gradual deleveraging through reductions in both long-term and current debt, except for a recent increase in current debt during 2022. These patterns suggest active debt management efforts aimed at optimizing the maturity schedule and balancing short-term and long-term liabilities over time.