Analysis of Debt
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Total Debt (Carrying Amount)
Trane Technologies plc, balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 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).
- Short-term borrowings and current maturities of long-term debt
- The short-term borrowings exhibited a fluctuating pattern over the analyzed period. Starting from $350.6 million at the end of 2018, there was a significant rise to $650.5 million by the end of 2019. This upward trend continued into 2020, reaching $775.6 million. However, 2021 saw a sharp decline to $350.4 million, almost halving the previous year's figure. Subsequently, in 2022, the short-term borrowings surged again, more than doubling to $1.048 billion, the highest value in the five-year span.
- Long-term debt, excluding current maturities
- Long-term debt showed an overall increase from 2018 to 2019, rising from $3.7407 billion to $4.9229 billion. This was followed by a decline in 2020 to $4.4965 billion, which remained relatively stable into 2021 at $4.4917 billion. By 2022, long-term debt further decreased to $3.7883 billion, representing the lowest point since 2018 within the observed timeframe.
- Total debt (carrying amount)
- The total debt mirrored the combined effects of short-term and long-term debt trends. It increased notably from $4.0913 billion in 2018 to $5.5734 billion in 2019. In 2020, total debt decreased slightly to $5.2721 billion and continued to decline in 2021 to $4.8421 billion. By the end of 2022, total debt remained relatively stable at $4.8363 billion, indicating a gradual reduction from the peak in 2019 but maintaining a level above the initial 2018 figure.
- Overall Observations
- The data reveals that short-term borrowings are more volatile, exhibiting substantial increases and decreases, particularly with a pronounced rise in 2022. Long-term debt increased sharply in 2019 but then showed a consistent decrease through 2022. The total debt peaked in 2019 and has generally trended downward since, suggesting management focus on debt reduction or restructuring in the latter years. The significant fluctuations in short-term debt may indicate tactical borrowing adjustments or refinancing activities within those years.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2022-12-31).
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: 2022-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × ÷ =