Analysis of Debt

United Rentals Inc., balance sheet: debt

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Short-term debt and current maturities of long-term debt	161)	906)	704)	997)	903)
Long-term debt, excluding current maturities	11,209)	8,779)	8,978)	10,431)	10,844)
Total debt (carrying amount)	11,370)	9,685)	9,682)	11,428)	11,747)

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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.	United Rentals Inc. total debt increased from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022
Selected Financial Data (US$ in millions)
Repurchase facility expiring 2023	100)
Accounts receivable securitization facility expiring 2024	959)
Term loan facility expiring 2025	953)
$4.25 billion ABL facility expiring 2027	1,523)
Senior notes	7,143)
Finance leases	123)
Total debt (fair value)	10,801)
Financial Ratio
Debt, fair value to carrying amount ratio	0.95

Weighted-average interest rate on debt: 4.98%

Interest rate	Debt amount¹	Interest rate × Debt amount
5.40%	100)	5)
5.30%	959)	51)
6.10%	953)	58)
5.40%	1,523)	82)
5.50%	498)	27)
3.88%	744)	29)
4.88%	1,663)	81)
6.00%	1,486)	89)
5.25%	744)	39)
4.00%	743)	30)
3.88%	1,090)	42)
3.75%	744)	28)
3.50%	123)	4)
Total	11,370)	566)
4.98%

¹ US$ in millions

² Weighted-average interest rate = 100 × 566 ÷ 11,370 = 4.98%

United Rentals Inc. (NYSE:URI)