Analysis of Debt
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- Income Statement
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Total Debt (Carrying Amount)
Boston Scientific Corp., balance sheet: debt
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current debt obligations | ||||||
| Long-term debt | ||||||
| Total outstanding debt obligations (carrying amount) |
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 Debt Obligations
- The current debt obligations demonstrate a significant decline from 2018 through 2020, dropping sharply from $2,253 million in 2018 to only $13 million in 2020. Following this decrease, there was a modest increase to $261 million in 2021 before falling back to $20 million in 2022. This pattern suggests a major reduction in short-term liabilities over the period, with slight fluctuations after 2020 indicating potential short-term borrowing or repayments.
- Long-Term Debt
- Long-term debt shows a strong upward trend from 2018 to 2020, rising from $4,803 million in 2018 to $9,130 million in 2020. After peaking in 2020, it slightly decreased to $8,804 million in 2021 but then rose again marginally to $8,915 million in 2022. The overall pattern indicates increased reliance on long-term financing, with a notable surge particularly between 2018 and 2019, and relative stability in the subsequent years.
- Total Outstanding Debt Obligations (Carrying Amount)
- Total outstanding debt initially increased sharply from $7,056 million in 2018 to $10,008 million in 2019, reflecting the rise in long-term debt despite the decrease in current debt. Thereafter, total debt decreased to $9,143 million in 2020 and then continued a slight downward trend through 2021 and 2022, ending at $8,935 million. This suggests an overall effort to moderate total debt levels following the peak in 2019, possibly through debt repayments or restructuring.
- Summary of Trends and Insights
- The data indicates a strategic shift in the composition of debt, with a marked reduction in short-term obligations coinciding with a substantial increase and then stabilization in long-term debt. The sharp increase in total debt in 2019 is driven predominantly by the rise in long-term borrowings. Subsequently, total debt appears to have been managed downward, reflecting potential deleveraging efforts or refinancing strategies aimed at balancing debt maturity profiles and reducing financial risk. The largely stable long-term debt in recent years highlights a maintained but controlled level of long-term leverage.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Outstanding debt obligations | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =