RE:RE:Did SU pay back $3.6 billion and $1.8 billion? $5.4 billion? In the report they said net debt at the end of Q3 was $14.58 billion. They also state that after the close of Q3 they bought back $3.6 billion of their notes at a discount.
$14.58 billion minus $3.6 billion = $11 billion! If true then they should be allocating 75% towards buybacks.
But they don't say that explicitly.
As I said they don't know how to communicate. I think these results were probably awesome though I'm not sure.
. Net debt was $14.584 billion as at the end of the third quarter, reflecting the achievement of the company’s 2025 targeted net debt range of $12 billion to $15 billion. As at September 30, 2022, since the beginning of the year, the company has reduced net debt by approximately $2.5 billion, excluding the impact of a $929 million unrealized foreign exchange loss on the revaluation of U.S. dollar denominated debt. The company remains on track with its previously articulated capital allocation framework, and depending on the business environment, expects to increase its share buyback allocation to 75% by the end of the first quarter of 2023.