Analysis of Debt
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Total Debt (Carrying Amount)
Hubbell Inc., balance sheet: debt
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Short-term debt and current portion of long-term debt | ||||||
| Long-term debt, excluding current portion | ||||||
| Total debt (carrying amount) |
Based on: 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), 10-K (reporting date: 2018-12-31).
- Short-term debt and current portion of long-term debt
- There was a marked increase in short-term debt from 56,100 thousand USD at the end of 2018 to a peak of 153,100 thousand USD by the end of 2020. Subsequently, this figure declined sharply to 9,700 thousand USD in 2021 and further to 4,700 thousand USD in 2022. This pattern indicates a significant buildup of short-term liabilities in 2020, followed by a strong reduction over the subsequent two years.
- Long-term debt, excluding current portion
- Long-term debt showed a downward trend from 1,737,100 thousand USD in 2018 to 1,436,900 thousand USD in 2020. It then stabilized around 1,435,000 thousand USD in 2021 and slightly increased to 1,437,900 thousand USD in 2022. The initial decline suggests repayment or refinancing activities, while the stabilization suggests a period of consistent long-term borrowing levels in recent years.
- Total debt (carrying amount)
- Total debt decreased from 1,793,200 thousand USD in 2018 to 1,571,400 thousand USD in 2019. There was a slight increase to 1,590,000 thousand USD in 2020, followed by a decline to 1,445,200 thousand USD in 2021 and a gradual decrease to 1,442,600 thousand USD in 2022. This overall downward trend in total debt over the five-year period reflects a reduction in the company's debt obligations, particularly driven by decreases in both short-term and long-term debt after 2020.
- Summary
- The data reveals a significant fluctuation in the short-term debt component, with a sharp increase in 2020 and a swift decrease thereafter. Long-term debt declined steadily until 2020 and then maintained a relatively stable level. Total debt exhibited a general reduction across the years, indicating a possible strategic effort to deleverage or optimize the debt structure. These trends suggest active management of debt maturities and obligations to balance liquidity and long-term financing needs.
Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Short-term debt | |
| Long-term debt | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × ÷ =