Analysis of Debt
Total Debt (Carrying Amount)
Roper Technologies Inc., balance sheet: debt
US$ in thousands
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).
- Current Portion of Long-Term Debt, Net
- The current portion of long-term debt shows significant volatility over the analyzed periods. Starting at US$1.5 million in 2018, it surged dramatically to US$602.2 million in 2019. This was followed by a decrease to US$502 million in 2020, then an increase to US$799.2 million in 2021. The amount decreased to US$699.2 million by the end of 2022. Overall, this component of debt exhibits a high level of fluctuation without a clear long-term upward or downward trend.
- Long-Term Debt, Net of Current Portion
- The long-term debt excluding the current portion displayed considerable variation across the years. It initially declined from US$4.9402 billion in 2018 to US$4.6731 billion in 2019. However, there was a substantial increase to US$9.0645 billion in 2020. Subsequently, this figure decreased to US$7.1226 billion in 2021 and further to US$5.9625 billion in 2022. The pattern indicates a peak in 2020 followed by a consistent reduction over the following two years.
- Total Long-Term Debt, Including Current Portion (Carrying Amount)
- The total long-term debt including the current portion reflects the combined trends of its components. It increased from US$4.9417 billion in 2018 to US$5.2753 billion in 2019, peaked sharply at US$9.5665 billion in 2020, and then declined to US$7.9218 billion in 2021 and US$6.6617 billion in 2022. This trajectory suggests a significant debt buildup up to 2020, followed by a reduction phase over the subsequent two years.
- Overall Analysis
- The data reveals a pronounced rise in total long-term debt up to 2020, primarily driven by the sharp increase in the net long-term portion. The current portion of the long-term debt shows marked volatility with abrupt increases and decreases. After peaking in 2020, total debt levels have trended downward through 2021 and 2022. This pattern may indicate strategic debt restructuring or repayment efforts following a period of heightened borrowing. The fluctuations in the current portion also imply shifting short-term obligations or refinancing activities within the analyzed timeframe.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Unsecured credit facility | —) |
| 3.000% senior notes due 2020 | —) |
| 2.800% senior notes due 2021 | —) |
| 3.125% senior notes due 2022 | —) |
| 0.450% senior notes due 2022 | —) |
| 3.650% senior notes due 2023 | 692,000) |
| 2.350% senior notes due 2024 | 478,000) |
| 3.850% senior notes due 2025 | 291,000) |
| 1.000% senior notes due 2025 | 629,000) |
| 3.800% senior notes due 2026 | 670,000) |
| 1.400% senior notes due 2027 | 594,000) |
| 4.200% senior notes due 2028 | 772,000) |
| 2.950% senior notes due 2029 | 608,000) |
| 2.000% senior notes due 2030 | 481,000) |
| 1.750% senior notes due 2031 | 770,000) |
| Other | 300) |
| Total long-term debt, including current portion (fair value) | 5,985,300) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.90 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 2.63%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 3.65% | 700,000) | 25,550) | |
| 2.35% | 500,000) | 11,750) | |
| 3.85% | 300,000) | 11,550) | |
| 1.00% | 700,000) | 7,000) | |
| 3.80% | 700,000) | 26,600) | |
| 1.40% | 700,000) | 9,800) | |
| 4.20% | 800,000) | 33,600) | |
| 2.95% | 700,000) | 20,650) | |
| 2.00% | 600,000) | 12,000) | |
| 1.75% | 1,000,000) | 17,500) | |
| Total | 6,700,000) | 176,000) | |
| 2.63% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 176,000 ÷ 6,700,000 = 2.63%