Analysis of Debt

Enphase Energy Inc., balance sheet: debt

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Debt, current	—)	90,892)	86,052)	325,967)	2,884)
Debt, non-current	1,293,738)	1,199,465)	951,594)	4,898)	102,659)
Total debt (carrying amount)	1,293,738)	1,290,357)	1,037,646)	330,865)	105,543)

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Debt item	Description	The company
Total debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Enphase Energy Inc. total debt increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023
Selected Financial Data (US$ in thousands)
Notes due 2028	511,800)
Notes due 2026	568,800)
Notes due 2025	147,700)
Notes due 2024	—)
Notes due 2023	—)
Long-term financing receivable recorded as debt	—)
Total debt (fair value)	1,228,300)
Financial Ratio
Debt, fair value to carrying amount ratio	0.95

Weighted-average interest rate on debt: 4.64%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.77%	569,592)	27,170)
4.44%	628,183)	27,891)
5.18%	95,963)	4,971)
Total	1,293,738)	60,032)
4.64%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 60,032 ÷ 1,293,738 = 4.64%

Enphase Energy Inc. (NASDAQ:ENPH)