Analysis of Debt

Generac Holdings Inc., balance sheet: debt

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Short-term borrowings	72,035)	39,282)	58,714)	45,583)	20,602)
Current portion of long-term borrowings and finance lease obligations	5,930)	4,147)	2,383)	1,977)	1,572)
Long-term borrowings and finance lease obligations, excluding current portion	902,091)	841,764)	837,767)	876,396)	906,548)
Total borrowings and finance lease obligation (carrying amount)	980,056)	885,193)	898,864)	923,956)	928,722)

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Debt item	Description	The company
Total borrowings and finance lease obligation (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Generac Holdings Inc. total debt decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

	Dec 31, 2021
Selected Financial Data (US$ in thousands)
ABL facility	100,000)
Other lines of credit	72,035)
Term loan	782,925)
Other borrowings	727)
Finance lease obligation	39,175)
Total borrowings and finance lease obligation (fair value)	994,862)
Financial Ratio
Debt, fair value to carrying amount ratio	1.02

Weighted-average interest rate on debt: 7.43%

Interest rate	Debt amount¹	Interest rate × Debt amount
7.43%	39,175)	2,911)
Total	39,175)	2,911)
7.43%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 2,911 ÷ 39,175 = 7.43%

Generac Holdings Inc. (NYSE:GNRC)