Analysis of Debt
Total Debt (Carrying Amount)
Ecolab Inc., balance sheet: debt
US$ in thousands
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Short-term debt
- The short-term debt exhibited significant fluctuations over the analyzed period. It increased from approximately 564.4 million USD at the end of 2017 to a peak of around 743.6 million USD at the end of 2018, followed by a substantial decline to about 17.3 million USD by the end of 2020. Subsequently, there was a considerable rise again in 2021, reaching roughly 411 million USD. This pattern suggests notable variability in short-term borrowing needs or refinancing strategies.
- Long-term debt, excluding current maturities
- The long-term debt demonstrated a generally increasing trend with some volatility. It decreased from approximately 6.76 billion USD at the end of 2017 to about 6.0 billion USD by the end of 2019. After this period, there was a marked increase, rising to approximately 6.67 billion USD in 2020 and further climbing substantially to about 8.35 billion USD by the end of 2021. This progression indicates the company's increasing reliance on long-term borrowing as part of its capital structure.
- Total debt (carrying amount)
- Total debt mirrored the trends observed in both short-term and long-term debt components. It decreased from about 7.32 billion USD at the end of 2017 to roughly 6.35 billion USD by the end of 2019, followed by a gradual increase to around 6.69 billion USD in 2020. The most significant rise occurred in 2021, with total debt reaching approximately 8.76 billion USD. This suggests an overall expansion in debt financing, particularly prominent in the most recent year analyzed.
Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Commercial paper | 400,000) |
| Notes payable | 8,500) |
| Long-term debt, including current maturities | 9,085,300) |
| Total debt (fair value) | 9,493,800) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.08 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt: 2.68%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 0.28% | 400,000) | 1,120) | |
| 7.95% | 8,500) | 676) | |
| 1.19% | 497,200) | 5,917) | |
| 1.19% | 649,300) | 7,727) | |
| 2.87% | 649,700) | 18,646) | |
| 2.89% | 744,900) | 21,528) | |
| 2.89% | 488,400) | 14,115) | |
| 1.84% | 495,700) | 9,121) | |
| 4.06% | 709,100) | 28,789) | |
| 1.39% | 593,400) | 8,248) | |
| 2.24% | 644,000) | 14,426) | |
| 5.63% | 384,300) | 21,636) | |
| 3.81% | 197,200) | 7,513) | |
| 4.80% | 424,300) | 20,366) | |
| 2.24% | 490,400) | 10,985) | |
| 2.78% | 838,500) | 23,310) | |
| 3.87% | 535,300) | 20,716) | |
| Total | 8,750,200) | 234,839) | |
| 2.68% | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 234,839 ÷ 8,750,200 = 2.68%