Analysis of Debt

Cadence Design Systems Inc., balance sheet: debt

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revolving credit facility	—)	—)	100,000)	—)	—)
Current portion of long-term debt	—)	349,285)	—)	—)	—)
Long-term debt, excluding current portion	2,476,183)	299,771)	648,078)	347,588)	346,793)
Total outstanding debt (carrying amount)	2,476,183)	649,056)	748,078)	347,588)	346,793)

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Debt item	Description	The company
Total outstanding debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Cadence Design Systems Inc. total debt decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

	Dec 31, 2024
Selected Financial Data (US$ in thousands)
Revolving Credit Facility	—)
2024 Notes	—)
2025 Term Loan	—)
2027 Notes	495,000)
2029 Notes	980,000)
2034 Notes	960,000)
Total outstanding debt (fair value)	2,435,000)
Financial Ratio
Debt, fair value to carrying amount ratio	0.98

Weighted-average interest rate on debt: 4.44%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.20%	496,794)	20,865)
4.30%	990,334)	42,584)
4.70%	989,055)	46,486)
Total	2,476,183)	109,935)
4.44%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 109,935 ÷ 2,476,183 = 4.44%

Cadence Design Systems Inc. (NASDAQ:CDNS)