Financial Information
Financing
To preserve a balanced capital structure and match financial resources with funding requirements, the key guidelines are that long-term debt is primarily used to support long-term investments, while short-term debt is used to support ongoing business in financing its main working capital needs
Diversified sources of funds
42% of long-term financing came from debt capital markets
Well-distributed debt maturity profile
Average maturity of long-term debt of 4.1 years
Sizeable amount of committed facilities
US$ 3.5 Bn of undrawn committed bank lines
Sound Balance Sheet Structure
The balance sheet as of 31 December 2020 showed an excess of long-term resources of US$ 1.4 billion
14,671
Fixed assets & investments
3,993
Other non-current assets (net)
815
Less liquid working capital
2,375
RMI
5,246
Liquid assets below 3 months
41
Current financial assets
2,201
Use of Capital
14,671
Equity
4,870
LT Debt
3,690
ST Debt
6,111
Source of Capital
14,671
Fixed assets & investments
3,993
Other non-current assets (net)
815
Less liquid working capital
2,375
RMI
5,246
Liquid assets below 3 months
41
Current financial assets
2,201
Use of Capital
14,671
Equity
4,870
LT Debt
3,690
ST Debt
6,111
Source of Capital
Long-term Financing Split by Nature
2020 (In US$ million)
Debt capital markets
1,522
%
Drawn revolving credit facilities
15
%
Term loans from banks
2,064
%
2019 (In US$ million)
Debt capital markets
1,307
%
Drawn revolving credit facilities
296
%
Term loans from banks
1,996
%
Debt capital markets
Drawn revolving credit facilities
Term loans from banks
Long-term Financing Maturity
In US$ million
2020
2019
0
0
Maturity below 1 year
0
0
Maturity between 1-2 years
0
0
Maturity between 2-3 years
0
0
Maturity between 3-4 years
0
0
Maturity between 4-5 years
0
0
Maturity > 5 years