American Airlines Group (AAL)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	3,700,000	3,700,000	34,057,000	34,459,000	34,903,000	36,158,000	36,354,000	37,093,000	37,323,000	31,911,000	39,421,000	39,124,000	32,021,000	32,203,000	27,307,000	23,181,000	23,645,000	24,559,000	22,621,000	22,075,000
Total assets	US$ in thousands	63,058,000	65,711,000	67,260,000	66,786,000	64,716,000	66,652,000	67,963,000	67,401,000	66,467,000	68,437,000	72,464,000	68,649,000	62,008,000	62,773,000	64,544,000	58,580,000	59,995,000	61,175,000	61,967,000	60,787,000
Debt-to-assets ratio		0.06	0.06	0.51	0.52	0.54	0.54	0.53	0.55	0.56	0.47	0.54	0.57	0.52	0.51	0.42	0.40	0.39	0.40	0.37	0.36

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,700,000K ÷ $63,058,000K
= 0.06

The debt-to-assets ratio of American Airlines Group Inc has been relatively stable over the past eight quarters, ranging from 0.51 to 0.56. The ratio indicates that the company finances approximately 51% to 56% of its assets through debt.

The trend shows a slight decrease in the ratio from 0.56 in Q1 2022 to 0.52 in Q4 2023, suggesting a potential improvement in the company's ability to cover its assets with debt. However, the ratio has fluctuated within a narrow range, indicating a consistent reliance on debt financing to support the company's operations and growth.

Overall, the debt-to-assets ratio demonstrates American Airlines Group Inc's ongoing strategy of managing its capital structure by balancing debt and assets to optimize financial leverage.