Analysis of Debt

Coca-Cola Co., balance sheet: debt

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Loans and notes payable	2,373)	3,307)	2,183)	10,994)	13,194)
Current maturities of long-term debt	399)	1,338)	485)	4,253)	4,997)
Long-term debt, excluding current maturities	36,377)	38,116)	40,125)	27,516)	25,364)
Total debt (carrying amount)	39,149)	42,761)	42,793)	42,763)	43,555)

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Debt item	Description	The company
Total debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Coca-Cola Co. total debt decreased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in millions)
Loans and notes payable	2,373)
Long-term debt, including current portion	32,698)
Total debt (fair value)	35,071)
Financial Ratio
Debt, fair value to carrying amount ratio	0.90

Weighted-average effective interest rate on debt: 2.40%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.20%	2,146)	90)
2.30%	36,776)	846)
Total	38,922)	936)
2.40%

¹ US$ in millions

² Weighted-average interest rate = 100 × 936 ÷ 38,922 = 2.40%

Coca-Cola Co. (NYSE:KO)