Analysis of Debt
Total Debt (Carrying Amount)
KLA Corp., balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).
- Short-term debt
- The short-term debt was reported only in the year ending June 30, 2021, amounting to $20,000 thousand. There is no data available for other years, indicating either the absence of short-term debt or unreported values during those periods.
- Current portion of long-term debt
- This item showed a significant figure of $249,999 thousand as of June 30, 2019, but values were not reported or possibly absent for the years 2020, 2021, and 2022. Notably, as of June 30, 2024, it increased substantially to $749,936 thousand, indicating a marked rise in the current portion due within one year.
- Long-term debt, excluding current portion
- This category reveals fluctuations over the periods analyzed. Starting at $3,173,383 thousand in June 2019, it experienced a gradual increase to $3,469,670 thousand in 2020, followed by a slight decline to $3,422,767 thousand in 2021. A significant jump occurred by June 2022, reaching $6,660,718 thousand, before decreasing to $5,890,736 thousand in 2023 and remaining almost stable at $5,880,199 thousand by June 2024. The peak in 2022 suggests a substantial long-term borrowing or reclassification during that year.
- Total debt (carrying amount)
- The total debt reflects a pattern similar to long-term debt, signaling its dominant influence on the company’s overall debt structure. Beginning at $3,423,382 thousand in 2019, it remained relatively stable through 2020 and 2021. A pronounced increase is observed in 2022, reaching $6,660,718 thousand, followed by a decline to $5,890,736 thousand in 2023. By June 2024, total debt increased again to $6,630,135 thousand, implying new borrowings or adjustments in debt recognition. The overall trend shows volatility, with a notable peak in 2022 and partial recovery thereafter.
Total Debt (Fair Value)
| Jun 30, 2024 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Senior Notes | 6,260,000) |
| Revolving Credit Facility | —) |
| Notes Payable | —) |
| Total debt (fair value) | 6,260,000) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.94 |
Based on: 10-K (reporting date: 2024-06-30).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt: 4.67%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.68% | 750,000) | 35,115) | |
| 5.67% | 250,000) | 14,175) | |
| 4.16% | 800,000) | 33,272) | |
| 5.05% | 400,000) | 20,188) | |
| 3.30% | 750,000) | 24,765) | |
| 4.66% | 1,000,000) | 46,570) | |
| 5.02% | 1,450,000) | 72,834) | |
| 5.26% | 800,000) | 42,072) | |
| 4.78% | 500,000) | 23,885) | |
| Total | 6,700,000) | 312,876) | |
| 4.67% | |||
Based on: 10-K (reporting date: 2024-06-30).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 312,876 ÷ 6,700,000 = 4.67%