Analysis of Debt

PayPal Holdings Inc., balance sheet: debt

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Short-term debt	—)	—)	—)	—)	1,998)
Current portion of long-term debt	418)	999)	—)	—)	—)
Long-term debt, excluding current portion	10,417)	8,049)	8,939)	4,965)	—)
Total debt (carrying amount)	10,835)	9,048)	8,939)	4,965)	1,998)

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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.	PayPal Holdings Inc. total debt increased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in millions)
Short-term debt	—)
Fixed-rate notes	9,500)
Credit facilities	491)
Total debt (fair value)	9,991)
Financial Ratio
Debt, fair value to carrying amount ratio	0.92

Weighted-average effective interest rate on fixed-rate notes: 3.22%

Interest rate	Debt amount¹	Interest rate × Debt amount
2.52%	1,250)	32)
2.78%	1,250)	35)
2.96%	1,500)	44)
1.55%	418)	6)
1.78%	1,000)	18)
2.39%	1,000)	24)
3.33%	1,000)	33)
4.06%	500)	20)
4.53%	1,000)	45)
5.14%	1,000)	51)
5.34%	500)	27)
Total	10,418)	336)
3.22%

¹ US$ in millions

² Weighted-average interest rate = 100 × 336 ÷ 10,418 = 3.22%

PayPal Holdings Inc. (NASDAQ:PYPL)