Analysis of Debt
Total Debt (Carrying Amount)
HCA Healthcare Inc., balance sheet: debt
US$ in millions
Based on: 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), 10-K (reporting date: 2017-12-31).
The total long-term debt carrying amount exhibits a pattern of relative stability with a notable fluctuation occurring between 2020 and 2021. From 2017 to 2019, the total debt remained within a narrow range, moving from $33,058 million to $33,722 million. A contraction was observed in 2020, where total debt decreased to $31,004 million, before rising to a five-year peak of $34,579 million by the end of 2021.
- Total Long-Term Debt Trends
- The carrying amount of total long-term debt experienced a decrease of approximately 8.1% between 2019 and 2020, followed by a significant increase of approximately 11.5% in 2021. This volatility indicates a shift in the leverage position during the latter part of the period analyzed.
- Current Debt Obligations
- Long-term debt due within one year represents a small fraction of the total debt profile. While it remained consistently low, a temporary spike to $788 million occurred in 2018, contrasted with a low of $145 million in 2019. By 2021, this current portion settled at $237 million, suggesting that immediate repayment obligations are minimal relative to the overall debt load.
- Debt Maturity Structure
- The debt profile is heavily weighted toward long-term obligations due after one year. This non-current portion consistently comprises over 99% of the total long-term debt throughout the five-year period, peaking at $34,342 million in 2021. This structure implies a long-term financing strategy with limited short-term liquidity pressure from debt principal repayments.
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Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total long-term debt (fair value) | 38,541) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.11 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Effective interest rates average: 4.60%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.60% | 34,579) | 1,591) | |
| Total | 34,579) | 1,591) | |
| 4.60% | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,591 ÷ 34,579 = 4.60%