This paper illustrates the growing significance of self and mutual inductances by examining their effects on performance and characteristic issues like propagation delay, rise time, and overshoots. This paper introduces Elmore-like closed form solutions to analyze the behavior of integrated circuits in the presence of self and mutual inductances. The complexity of the expressions introduced here is linear with the number of elements in the interconnect network, and has Elmore delay accuracy characteristics. The propagation delay and overshoots estimated based on these formulae are within 15% of AS/X simulations for a wide range of interconnects from IBM's most recent CMOS technology.