Antero Midstream Partners LP (AM)

Debt-to-assets ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	3,116,960	3,213,220	3,361,280	3,122,910	3,091,630
Total assets	US$ in thousands	5,761,750	5,737,620	5,791,320	5,544,000	5,610,910
Debt-to-assets ratio		0.54	0.56	0.58	0.56	0.55

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,116,960K ÷ $5,761,750K
= 0.54

The debt-to-assets ratio of Antero Midstream Partners LP has shown a slight increasing trend from 0.55 as of December 31, 2020, to 0.58 as of December 31, 2022, before slightly decreasing to 0.54 by December 31, 2024. This indicates that the company's level of debt in relation to its total assets has fluctuated over the years, possibly due to changes in financing activities or asset utilization. Overall, the company appears to have maintained a moderate level of leverage, with a significant portion of its assets being financed by debt throughout the period analyzed.