GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » Summit Materials Inc (NYSE:SUM) » Definitions » Effective Interest Rate on Debt %

Summit Materials (Summit Materials) Effective Interest Rate on Debt % : 7.96% (As of Mar. 2024)


View and export this data going back to 2015. Start your Free Trial

What is Summit Materials Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Summit Materials's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $208 Mil. Summit Materials's average total debt for the quarter that ended in Mar. 2024 was $2,607 Mil. Therefore, Summit Materials's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 7.96%.


Summit Materials Effective Interest Rate on Debt % Historical Data

The historical data trend for Summit Materials's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Summit Materials Effective Interest Rate on Debt % Chart

Summit Materials Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.23 5.37 5.12 5.45 5.89

Summit Materials Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.12 7.26 7.29 6.37 7.96

Competitive Comparison of Summit Materials's Effective Interest Rate on Debt %

For the Building Materials subindustry, Summit Materials's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Summit Materials's Effective Interest Rate on Debt % Distribution in the Building Materials Industry

For the Building Materials industry and Basic Materials sector, Summit Materials's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Summit Materials's Effective Interest Rate on Debt % falls into.



Summit Materials Effective Interest Rate on Debt % Calculation

Summit Materials's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -114.155/( (1543.657+2333.307)/ 2 )
=-1  *  -114.155/1938.482
=5.89 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1524.306 + 19.351
=1543.657

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2316.869 + 16.438
=2333.307

Summit Materials's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -207.568/( (2333.307+2880.345)/ 2 )
=-1  *  -207.568/2606.826
=7.96 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2316.869 + 16.438
=2333.307

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2851.327 + 29.018
=2880.345

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Summit Materials  (NYSE:SUM) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Summit Materials Effective Interest Rate on Debt % Related Terms

Thank you for viewing the detailed overview of Summit Materials's Effective Interest Rate on Debt % provided by GuruFocus.com. Please click on the following links to see related term pages.


Summit Materials (Summit Materials) Business Description

Traded in Other Exchanges
Address
1801 California Street, Suite 3500, Denver, CO, USA, 80202
Summit Materials Inc is an aggregates supplier and cement producer in the United States. The company sells products that include aggregates, which it supplies across the United States, and in British Columbia, Canada, and cement, which it supplies to surrounding states along the Mississippi River from Minnesota to Louisiana. In addition to supplying aggregates to customers, the company uses a portion of its materials internally to produce ready-mix concrete and asphalt paving mix, which may be sold externally or used in its paving and related services businesses. The company operates in 22 U.S. states and in British Columbia, Canada and has assets in 21 U.S. states and in British Columbia, Canada through their platforms.
Executives
Craig Scott Anderson officer: EVP & Chief Financial Officer 1801 CALIFORNIA STREET, SUITE 3500, DENVER CO 80202
Christopher Burke Gaskill officer: See Remarks C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202
Kekin Ghelani officer: Chief Strategy&Growth Officer 1550 WYNKOOP, DENVER CO 80202
Anne K. Wade director C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202
John Raymond Murphy director 233 S PATTERSON AVE, SPRINGFIELD MO 65802
Anne P Noonan director, officer: President & CEO 25435 HARVARD RD, BEACHWOOD OH 44122
Tamla Oates-forney director 800 CAPITOL STREET 3000, HOUSTON TX 77002
Deon Macmillan officer: See Remarks C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202
Karli S. Anderson officer: See Remarks 1660 WYNKOOP STREET, SUITE 1000, DENVER CO 80202
Howard L Lance director C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202
Joseph S Cantie director C/O DELPHI AUTOMOTIVE, 5725 DELPHI DRIVE, TROY MI 48098
Anne Lee Benedict officer: See Remarks C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202
Brian James Harris officer: EVP & Chief Financial Officer C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202
Mikel Shane Evans officer: See Remarks C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202
Longleaf Partners Funds Trust 10 percent owner C/O SOUTHEASTERN ASSET MANAGEMENT, 6410 POPLAR AVE, SUITE 900, MEMPHIS TN 38119