Analysis of Debt

Devon Energy Corp., balance sheet: debt

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Short-term debt	251)	—)	—)	—)	162)
Current finance lease liabilities	8)	8)	8)	7)	—)
Long-term debt	6,189)	6,482)	4,298)	4,294)	5,785)
Long-term finance lease liabilities	249)	247)	244)	240)	—)
Total debt and finance lease liabilities (carrying amount)	6,697)	6,737)	4,550)	4,541)	5,947)

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Debt item	Description	The company
Total debt and finance lease liabilities (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Devon Energy Corp. total debt increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in millions)
Debt	6,231)
Finance lease liabilities	257)
Total debt and finance lease liabilities (fair value)	6,488)
Financial Ratio
Debt, fair value to carrying amount ratio	0.97

Weighted-average interest rate on debt and finance lease liabilities: 5.75%

Interest rate	Debt amount¹	Interest rate × Debt amount
8.25%	242)	20)
5.25%	472)	25)
5.85%	485)	28)
7.50%	73)	5)
5.25%	390)	20)
5.88%	325)	19)
4.50%	585)	26)
7.88%	675)	53)
7.95%	366)	29)
5.60%	1,250)	70)
4.75%	750)	36)
5.00%	750)	38)
4.20%	257)	11)
Total	6,620)	381)
5.75%

¹ US$ in millions

² Weighted-average interest rate = 100 × 381 ÷ 6,620 = 5.75%

Devon Energy Corp. (NYSE:DVN)