Analysis of Debt

SolarEdge Technologies Inc., balance sheet: debt

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Short-term finance lease liabilities	3,263)	1,875)	1,686)	231)	—)
Convertible senior notes, net	624,451)	621,535)	573,350)	—)	—)
Long-term finance lease liabilities	45,385)	40,508)	26,173)	2,399)	—)
Total convertible senior notes and finance lease liabilities (carrying amount)	673,099)	663,918)	601,209)	2,630)	—)

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Debt item	Description	The company
Total convertible senior notes and finance lease liabilities (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	SolarEdge Technologies Inc. total debt increased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in thousands)
Convertible senior notes	831,000)
Finance lease liabilities	48,648)
Total convertible senior notes and finance lease liabilities (fair value)	879,648)
Financial Ratio
Debt, fair value to carrying amount ratio	1.31

Weighted-average interest rate on debt: 0.60%

Interest rate	Debt amount¹	Interest rate × Debt amount
0.47%	624,451)	2,935)
2.30%	48,648)	1,119)
Total	673,099)	4,054)
0.60%

¹ US$ in thousands

² Weighted-average interest rate = 100 × 4,054 ÷ 673,099 = 0.60%

SolarEdge Technologies Inc. (NASDAQ:SEDG)