Analysis of Debt
Total Debt (Carrying Amount)
Carrier Global Corp., 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).
- Current portion of long-term debt
- The current portion of long-term debt has shown a consistent decrease over the three reported years, declining from $191 million in 2020 to $183 million in 2021, and further to $140 million in 2022. This indicates a reduction in the amount of debt due within the next year.
- Long-term debt, net of current portion
- The long-term debt excluding the current portion has also exhibited a downward trend. It reduced from $10,036 million in 2020 to $9,513 million in 2021 and continued to decrease to $8,702 million in 2022. This pattern suggests a systematic effort to lower the outstanding long-term debt over the period.
- Total long-term debt, including current portion (carrying amount)
- The overall long-term debt, inclusive of both current and non-current portions, has decreased steadily. The total carrying amount dropped from $10,227 million in 2020 to $9,696 million in 2021, and then further to $8,842 million in 2022. This consistent reduction across all components of long-term debt reflects an overall improvement in the company's debt position.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Long-term notes | 6,832) |
| Japanese Term Loan Facility | 404) |
| Other debt, including project financing obligations and finance leases | 149) |
| Total long-term debt, including current portion (fair value) | 7,385) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.84 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on borrowings: 2.90%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.90% | 8,842) | 256) | |
| Total | 8,842) | 256) | |
| 2.90% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 256 ÷ 8,842 = 2.90%