Sun Life Financial (TSX:SLF.PR.J.PFD) Effective Interest Rate on Debt % : 4.05% (As of Dec. 2023)

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What is Sun Life Financial 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. Sun Life Financial's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was C$460.00 Mil. Sun Life Financial's average total debt for the quarter that ended in Dec. 2023 was C$11,359.00 Mil. Therefore, Sun Life Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 4.05%.

Sun Life Financial Effective Interest Rate on Debt % Historical Data

The historical data trend for Sun Life Financial'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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Sun Life Financial Effective Interest Rate on Debt % Chart

Sun Life Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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4.75

4.99

4.64

4.32

4.14

Sun Life Financial 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															4.33	5.33	6.81	6.65	4.05

Competitive Comparison of Sun Life Financial's Effective Interest Rate on Debt %

For the Insurance - Diversified subindustry, Sun Life Financial'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.

Sun Life Financial's Effective Interest Rate on Debt % Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Sun Life Financial's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Sun Life Financial's Effective Interest Rate on Debt % falls into.

Sun Life Financial Effective Interest Rate on Debt % Calculation

Sun Life Financial'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 * -552	/	( (13392	+	13277)	/ 2 )
=	-1 * -552	/	13334.5
=	4.14 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	11047	+	2345
=	13392

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	10947	+	2330
=	13277

Sun Life Financial'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 * -460	/	( (9441	+	13277)	/ 2 )
=	-1 * -460	/	11359
=	4.05 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	9441	+	0
=	9441

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	10947	+	2330
=	13277

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.

Sun Life Financial (TSX:SLF.PR.J.PFD) Effective Interest Rate on Debt % Explanation

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

Sun Life Financial Effective Interest Rate on Debt % Related Terms

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Sun Life Financial (TSX:SLF.PR.J.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Sun Life Financial Inc (TSX:SLF.PR.J.PFD) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

SUNFF.PFD:USA SLF:USA SLF:Philippines LIE:Germany SLF.PR.K.PFD:Canada SLF.PR.H.PFD:Canada SLF.PR.G.PFD:Canada SLF.PR.E.PFD:Canada SLF.PR.D.PFD:Canada SLF.PR.C.PFD:Canada SLF:Canada

Address

1 York Street, 31st Floor, Toronto, ON, CAN, M5J 0B6

Website

https://www.sunlife.com

Sun Life provides life insurance, retirement, and asset management products to individuals and corporate customers in Canada, the United States, and Asia. The company's investment management business contributes approximately 38% of its adjusted earnings and has around CAD 1 trillion in assets under management as of the second quarter of 2023. The Canada business contributes about 32% of adjusted earnings and provides individual life and health insurance, group insurance, retirement services, and wealth management solutions. The U.S. business contributes approximately 14% of earnings and is mainly focused on providing group insurance products and managing the in-force life insurance policies. Finally, the Asia segment contributes around 16% of earnings.

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