Analysis of Debt
Total Debt (Carrying Amount)
Amphenol Corp., balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2023-12-31), 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).
The total debt carrying amount exhibits a growth phase from 2019 to 2021, followed by a steady deleveraging trend through the end of 2023. The aggregate debt reached a peak of approximately 4.8 billion USD in 2021 before declining to 4.337 billion USD by December 31, 2023.
- Aggregate Debt Trajectory
- Total debt increased by approximately 7.2% between 2019 and 2020, followed by a sharp increase of 24.1% in 2021. This upward trajectory reversed in 2022 and 2023, with total carrying amounts decreasing by 4.6% and 5.2% respectively in those subsequent years.
- Long-Term Debt Obligations
- The non-current portion of debt mirrors the overall trend, climbing from 3.203 billion USD in 2019 to a peak of 4.795 billion USD in 2021. By 2023, this figure decreased to 3.983 billion USD, indicating a reduction in long-term borrowing commitments over the final two years of the analyzed period.
- Short-Term Maturity Profile
- The current portion of long-term debt shows significant volatility. After decreasing from 403.3 million USD in 2019 to minimal levels of 4 million USD in 2021 and 2.7 million USD in 2022, there was a substantial increase to 353.8 million USD in 2023. This represents a shift in the maturity schedule, indicating a larger volume of debt is slated for repayment in the short term.
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Total Debt (Fair Value)
| Dec 31, 2023 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total debt (fair value) | 4,094,800) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.94 |
Based on: 10-K (reporting date: 2023-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 2.66%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 3.20% | 348,400) | 11,149) | |
| 2.05% | 386,800) | 7,929) | |
| 4.75% | 350,600) | 16,654) | |
| 0.75% | 523,400) | 3,926) | |
| 2.00% | 531,400) | 10,628) | |
| 4.35% | 497,200) | 21,628) | |
| 2.80% | 817,600) | 22,893) | |
| 2.20% | 629,900) | 13,858) | |
| Total | 4,085,300) | 108,664) | |
| 2.66% | |||
Based on: 10-K (reporting date: 2023-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 108,664 ÷ 4,085,300 = 2.66%