Analysis of Debt
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Total Debt (Carrying Amount)
Procter & Gamble Co., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).
- Short-term Debt (Debt due within one year)
- The short-term debt exhibited fluctuations over the six-year period. It increased from $9,697 million in 2019 to a peak of $11,183 million in 2020, followed by a decline to $8,889 million in 2021 and further to $8,645 million in 2022. The figure rose again to $10,229 million in 2023 before decreasing significantly to $7,191 million in 2024. This pattern indicates variability in the company's near-term debt obligations, with a recent reduction in the latest year analyzed.
- Long-term Debt (excluding amounts due within one year)
- The long-term debt showed a generally upward trend throughout the period. Starting at $20,395 million in 2019, the amount rose to $23,537 million in 2020. It then slightly decreased to $23,099 million in 2021 and further to $22,848 million in 2022. From 2022 onwards, the long-term debt increased to $24,378 million in 2023 and further to $25,269 million in 2024. This upward trajectory suggests increased long-term borrowing or reclassification of debt during the later years.
- Total Debt (Short-term and Long-term combined)
- The total debt mirrored the combined effects of short-term and long-term debt movements. It climbed from $30,092 million in 2019 to a high of $34,720 million in 2020. The total then decreased to $31,988 million in 2021 and to $31,493 million in 2022. Following this, the total debt increased again to $34,607 million in 2023 before declining to $32,460 million in 2024. Overall, total debt levels have fluctuated but remain elevated compared to the initial year, with variability mostly driven by changes in short-term debt.
- Insights and Implications
- The data reflect a dynamic debt management strategy, with the company adjusting its debt composition between short-term and long-term obligations. The decline in short-term debt in 2024, combined with a continued increase in long-term debt, may indicate a strategic move to reduce near-term liabilities and extend debt maturities. Despite fluctuations, total debt remains substantial and relatively stable in recent years, signaling ongoing reliance on debt financing. Monitoring future trends will be important to assess the company's liquidity and financial risk.
Total Debt (Fair Value)
| Jun 30, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | |
| Other | |
| Total short-term debt (fair value) | |
| Long-term debt, including current portion | |
| Total short-term and long-term debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2024-06-30).
Weighted-average Interest Rate on Debt
Weighted average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2024-06-30).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =