Summit Materials (LTS:0LAI) Effective Interest Rate on Debt % : 7.96% (As of Mar. 2024)

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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.

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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 %

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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															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

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 (LTS:0LAI) 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

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Summit Materials (LTS:0LAI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » Summit Materials Inc (LTS:0LAI) » Definitions » Effective Interest Rate on Debt %

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Traded in Other Exchanges

SUM:USA 7SU:Germany

Address

1801 California Street, Suite 3500, Denver, CO, USA, 80202

Website

https://www.summit-materials.com

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.

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