Analysis of Debt

Coca-Cola Co., balance sheet: debt

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Loans and notes payable	4,557)	2,373)	3,307)	2,183)	10,994)
Current maturities of long-term debt	1,960)	399)	1,338)	485)	4,253)
Long-term debt, excluding current maturities	35,547)	36,377)	38,116)	40,125)	27,516)
Total debt (carrying amount)	42,064)	39,149)	42,761)	42,793)	42,763)

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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.	Coca-Cola Co. total debt decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

	Dec 31, 2023
Selected Financial Data (US$ in millions)
Loans and notes payable	4,557)
Long-term debt, including current portion	33,445)
Total debt (fair value)	38,002)
Financial Ratio
Debt, fair value to carrying amount ratio	0.90

Weighted-average effective interest rate on debt: 3.59%

Interest rate	Debt amount¹	Interest rate × Debt amount
5.30%	4,209)	223)
3.40%	37,507)	1,275)
Total	41,716)	1,498)
3.59%

¹ US$ in millions

² Weighted-average interest rate = 100 × 1,498 ÷ 41,716 = 3.59%

Coca-Cola Co. (NYSE:KO)