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Modine Manufacturing Co (Modine Manufacturing Co) Effective Interest Rate on Debt % : 6.87% (As of Dec. 2023)


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What is Modine Manufacturing Co 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. Modine Manufacturing Co's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $23 Mil. Modine Manufacturing Co's average total debt for the quarter that ended in Dec. 2023 was $338 Mil. Therefore, Modine Manufacturing Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 6.87%.


Modine Manufacturing Co Effective Interest Rate on Debt % Historical Data

The historical data trend for Modine Manufacturing Co'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.

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Modine Manufacturing Co Effective Interest Rate on Debt % Chart

Modine Manufacturing Co Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.34 4.87 4.75 4.38 5.67

Modine Manufacturing Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 6.21 6.46 6.64 6.97 6.87

Competitive Comparison of Modine Manufacturing Co's Effective Interest Rate on Debt %

For the Auto Parts subindustry, Modine Manufacturing Co'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.


Modine Manufacturing Co's Effective Interest Rate on Debt % Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Modine Manufacturing Co's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Modine Manufacturing Co's Effective Interest Rate on Debt % falls into.



Modine Manufacturing Co Effective Interest Rate on Debt % Calculation

Modine Manufacturing Co's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Mar. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Mar. 2022 )+Total Debt  (A: Mar. 2023 ))/ count )
=-1  *  -20.7/( (377.8+352.7)/ 2 )
=-1  *  -20.7/365.25
=5.67 %

where

Total Debt  (A: Mar. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=348.4 + 29.4
=377.8

Total Debt  (A: Mar. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=329.3 + 23.4
=352.7

Modine Manufacturing Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -23.2/( (342.6+333.2)/ 2 )
=-1  *  -23.2/337.9
=6.87 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=322.9 + 19.7
=342.6

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=313.5 + 19.7
=333.2

* 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 (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Modine Manufacturing Co  (NYSE:MOD) Effective Interest Rate on Debt % Explanation

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


Modine Manufacturing Co Effective Interest Rate on Debt % Related Terms

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Modine Manufacturing Co (Modine Manufacturing Co) Business Description

Traded in Other Exchanges
Address
1500 DeKoven Avenue, Racine, WI, USA, 53403-2552
Modine Manufacturing Co provides thermal management solutions to diversified markets and customers. The company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. It offers powertrain cooling products, such as engine cooling assemblies, radiators, condensers, and charge air coolers; auxiliary cooling products, including power steering and transmission oil coolers.
Executives
Michael B Lucareli officer: EVP, CFO 1500 DEKOVEN AVE,, RACINE WI 53403
Christopher William Patterson director 613 NW 11TH AVE, PORTLAND OR 97209
David J. Wilson director 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277
Suresh V Garimella director 585 PURDUE MALL, WEST LAFAYETTE IN 47907
William A Wulfsohn director ASHLAND INC., 50 EAST RIVERCENTER BLVD., COVINGTON KY 41011
Eric D Ashleman director 3100 SANDERS ROAD, SUITE 301, NORTHBROOK IL 60062
Katherine Carolyn Harper director 263 TRESSER BOULEVARD, STAMFORD CT 06901
Marsha C Williams director EQUITY OFFICE PROPERTIES, CHICAGO IL 60606
Larry Oscar Moore director 2104 CALVERTON LN SW, ATLANTA GA 30331
Christine Y Yan director C/O CABOT CORPORATION, TWO SEAPORT LANE, SUITE 1300, BOSTON MA 02210
Adrian Ian Peace officer: President, Performance Technol 1500 DEKOVEN AVE., RACINE WI 53403
Eric S Mcginnis officer: President, Climate Solutions 200 STATE STREET, BELOIT WI 53511
Brian Jon Agen officer: VP, Human Resources 1500 DEKOVEN AVE., RACINE WI 53403
Sylvia Ann Stein officer: VP, GC, Corp. Sec. and CCO 1500 DEKOVEN AVE., RACINE WI 53403
Neil David Brinker director, officer: President and CEO 1625 SHARP POINT DRIVE, FORT COLLINS CO 80525