What does purchased credit deteriorated loans mean?

These are loans acquired through business combinations that showed evidence of credit quality deterioration since their origination. They are recorded at fair value at the time of acquisition.

Air Products and Chemicals APD Purchased Credit Deteriorated Loans

Purchased Credit Deteriorated Loans at other companies

Air Products and ChemicalsAPD

$955.6M-1.0%

Public StoragePSA

$142.5M—

PopularBPOP

$7K-22.2%

BancFirst CorporationBANF

$598.25K—

Mercantile Bank CorporationMBWM

$26.25K—

Origin BancorpOBK

-$29K-52.6%

Other financials

Income statement

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Revenue$3.2B+8.8%

Gross profit$987.4M+14.5%

Operating income$752.7M+132%

Net income$710.4M+141%

EPS (diluted)$3.19+141%

Balance sheet

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Cash & equivalents$951.0M-36.2%

Total debt$914.5M-35.2%

Total equity$15.6B+6.4%

Total assets$41.6B+7.1%

Cash flow

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Operating cash flow$1.1B+236%

CapEx$1.1B-41.4%

Free cash flow-$3.9M+99.8%

Valuation

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Market cap$62.34B+3.5%

Enterprise value$62.3B+3.6%

P/E29.7×-9.6×

P/S5×0.0×

Profitability

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Gross margin32%0.0pp

Operating margin18.3%+6.0pp

Net margin16.9%+4.1pp

FCF margin-10%-4.2pp

Returns & leverage

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Return on equity13.9%+3.5pp

Debt / equity0.1×0.0×

Current ratio1.4×+0.4×

Where this comes from

Reported directly by Air Products and Chemicals in its filing.

Tagged under the XBRL concept us-gaap:NotesReceivableNet.

The official record: Air Products and Chemicals’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Air Products and Chemicals's purchased credit deteriorated loans?: Air Products and Chemicals (APD) reported purchased credit deteriorated loans of $955.6M in Q1 2026.
How has Air Products and Chemicals's purchased credit deteriorated loans changed year-over-year?: Air Products and Chemicals's purchased credit deteriorated loans decreased by 1.0% year-over-year, from $965.3M to $955.6M.
What does purchased credit deteriorated loans mean?: These are loans acquired through business combinations that showed evidence of credit quality deterioration since their origination. They are recorded at fair value at the time of acquisition.