Analysis of Debt
Total Debt (Carrying Amount)
PayPal Holdings Inc., 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).
- Short-term Debt
- The reported short-term debt was $1,998 million as of December 31, 2018. No data was available for subsequent years, which suggests a possible reclassification or change in reporting methodology for this category in following periods.
- Current Portion of Long-term Debt
- This item was not reported from 2018 to 2020. It appeared in 2021 at $999 million and then decreased to $418 million in 2022. The introduction of this line item in 2021 indicates increased granularity in debt reporting, reflecting maturities due within the next year.
- Long-term Debt, Excluding Current Portion
- Starting at $4,965 million in 2019, the long-term debt balance almost doubled to $8,939 million in 2020. It then declined to $8,049 million in 2021 before rising again to $10,417 million in 2022. This pattern reflects significant fluctuations in long-term borrowing, with a general upward trend over the analyzed period.
- Total Debt (Carrying Amount)
- Total debt increased markedly from $1,998 million in 2018 to $4,965 million in 2019, followed by a substantial rise to $8,939 million in 2020. The total debt then slightly increased to $9,048 million in 2021 and further to $10,835 million in 2022. This steady increase indicates an overall growth in the company's debt obligations over the five-year span.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term debt | —) |
| Fixed-rate notes | 9,500) |
| Credit facilities | 491) |
| Total debt (fair value) | 9,991) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.92 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on fixed-rate notes: 3.22%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.52% | 1,250) | 32) | |
| 2.78% | 1,250) | 35) | |
| 2.96% | 1,500) | 44) | |
| 1.55% | 418) | 6) | |
| 1.78% | 1,000) | 18) | |
| 2.39% | 1,000) | 24) | |
| 3.33% | 1,000) | 33) | |
| 4.06% | 500) | 20) | |
| 4.53% | 1,000) | 45) | |
| 5.14% | 1,000) | 51) | |
| 5.34% | 500) | 27) | |
| Total | 10,418) | 336) | |
| 3.22% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 336 ÷ 10,418 = 3.22%