Analysis of Debt
Total Debt (Carrying Amount)
Fortinet Inc., balance sheet: debt
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Long-term debt | 990,400) | 988,400) | —) | —) | —) | |
| Total long-term debt (carrying amount) | 990,400) | 988,400) | —) | —) | —) |
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).
| Debt item | Description | The company |
|---|---|---|
| Total long-term debt (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | Fortinet Inc. total debt increased from 2020 to 2021 and from 2021 to 2022. |
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total long-term debt (fair value) | 829,500) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.84 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt: 1.80%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 1.30% | 500,000) | 6,500) | |
| 2.30% | 500,000) | 11,500) | |
| Total | 1,000,000) | 18,000) | |
| 1.80% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 18,000 ÷ 1,000,000 = 1.80%