Total Debt (Carrying Amount)
Based on: 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), 10-K (reporting date: 2017-12-31).
- Short-term borrowings and current portion of long-term debt
- The short-term borrowings displayed a fluctuating trend over the analyzed period. Beginning at 1,853 million USD in 2017, the value decreased to 1,211 million USD in 2018, followed by a sharp increase to 2,795 million USD in 2019. Subsequently, it declined significantly to 806 million USD in 2020 and then rose again to 1,307 million USD in 2021. This variability indicates a lack of consistent short-term debt management or situational financing needs across the years.
- Current obligations of finance leases
- This category showed a gradual increase from 13 million USD in 2017 to 22 million USD in 2020, before decreasing to 7 million USD in 2021. The general trend was upward until 2020, suggesting an increasing reliance on lease financing, but the sharp decline in 2021 may reflect changes in lease structuring or repayments.
- Long-term debt, excluding current portion
- Long-term debt steadily increased from 12,096 million USD in 2017 to a peak of 17,989 million USD in 2020. This was followed by a decline to 16,056 million USD in 2021. The upward trajectory from 2017 to 2020 reflects an accumulation of long-term liabilities, potentially to finance expansion or capital investments, while the decrease in 2021 could indicate repayments or refinancing activities.
- Finance leases, net of current obligations
- Finance leases excluding current obligations rose from 60 million USD in 2017 to 111 million USD in 2019, then declined to 93 million USD in 2020 and remained stable at that level in 2021. This pattern aligns with lease asset capitalization trends and suggests moderate variability with a peak in 2019.
- Total debt and finance lease liabilities (carrying amount)
- The total carrying amount of debt and finance lease liabilities increased from 14,022 million USD in 2017 to a high of 20,445 million USD in 2019. Thereafter, it declined to 18,910 million USD in 2020 and further to 17,463 million USD in 2021. The peak in 2019 indicates the maximum debt level during the period, with a subsequent deleveraging or repayment phase beginning in 2020.
Total Debt (Fair Value)
Dec 31, 2021 | |
---|---|
Selected Financial Data (US$ in millions) | |
Short-term borrowings and current portion of long-term debt | 1,307) |
Long-term debt, excluding current portion | 17,601) |
Finance lease liabilities | 100) |
Total debt and finance lease liabilities (fair value) | 19,008) |
Financial Ratio | |
Debt, fair value to carrying amount ratio | 1.09 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt and finance lease liabilities: 2.70%
Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
---|---|---|---|
2.80% | 16,053) | 449) | |
1.43% | 1,294) | 19) | |
4.10% | 16) | 1) | |
3.30% | 100) | 3) | |
Total | 17,463) | 472) | |
2.70% |
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 472 ÷ 17,463 = 2.70%