Express Scripts Holding Co. (NASDAQ:ESRX)

The annual debt data presents a comprehensive view of the company's debt structure over the five-year period ending in 2017. There are observable fluctuations in both short-term and long-term debt components, impacting the total debt levels accordingly.

Short-term debt and current maturities of long-term debt

This category shows a marked increase from 1,584,000 US$ in 2013 to a peak of 2,555,300 US$ in 2014, followed by a significant decline to 722,300 US$ in 2016. The figure increases again in 2017 to 1,032,900 US$, though it remains below the earlier peak. This pattern indicates volatility in the short-term debt profile, with a notable shift to reducing the short-term liabilities after 2014 before partly increasing again in the last reported year.

Long-term debt, excluding current maturities

The long-term debt displays a different trend. It decreased from 12,363,000 US$ in 2013 to 11,012,700 US$ in 2014, suggesting debt repayment or restructuring efforts during that period. However, from 2014 onwards, there is a consistent upward trend, reaching 14,981,500 US$ in 2017. This steady increase indicates an ongoing reliance on long-term financing, potentially to support strategic investments or capital expenditures.

Total debt (carrying amount)

Total debt figures show a decline from 13,947,000 US$ in 2013 to 13,568,000 US$ in 2014, primarily driven by reductions in both short-term and long-term components. After 2014, total debt rises steadily each year, reaching 16,014,400 US$ in 2017. This rise is largely attributed to the growing long-term debt, offsetting the fluctuations seen in short-term obligations.

Overall, the debt profile reflects a transition towards increased long-term borrowing, accompanied by moderate variability in short-term debt levels. The total debt increase from 2014 onwards suggests an expansionary financing strategy, which may be aligned with the company's broader financial or operational objectives.