APA Corporation (APA)

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	—	—	—	—	4,885,000	—	—	—	7,295,000	—	—	8,713,000	8,770,000	8,750,000	8,523,000	8,336,000	8,555,000	8,393,000	8,157,000	8,094,000
Total assets	US$ in thousands	16,944,000	14,799,000	14,572,000	14,259,000	14,255,000	14,192,000	13,839,000	13,494,000	14,393,000	14,426,000	14,388,000	13,975,000	12,746,000	12,875,000	12,999,000	13,391,000	18,107,000	21,405,000	21,806,000	21,751,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.34	0.00	0.00	0.00	0.51	0.00	0.00	0.62	0.69	0.68	0.66	0.62	0.47	0.39	0.37	0.37

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $16,944,000K
= 0.00

The debt-to-assets ratio of APA Corporation has shown a declining trend over the last two quarters of 2023 from 0.44 in Q1 2023 to 0.34 in Q4 2023. This suggests that the company has reduced its reliance on debt financing relative to its total assets.

However, it's worth noting that the ratio was relatively stable in the prior quarters of 2023, hovering around 0.41. The decrease in the most recent quarter indicates that APA Corporation may be managing its debt levels more effectively or increasing its asset base.

Comparing the Q4 2023 ratio of 0.34 to earlier periods, it is lower than the ratios seen in Q1 and Q2 2022 (0.47 and 0.41, respectively). This implies that the company has improved its debt management position compared to those periods.

Overall, the decreasing trend in the debt-to-assets ratio of APA Corporation suggests that the company has been successful in reducing its debt burden relative to its total assets, which could indicate improved financial stability and risk management.