American Axle & Manufacturing (AXL)

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	2,794,700	2,879,800	2,902,400	2,897,300	2,896,800	3,001,000	3,063,700	3,092,900	3,119,100	—	—	—	3,486,900	—	—	—	—	—	—	—
Total assets	US$ in thousands	5,356,300	5,475,000	5,507,400	5,452,900	5,469,400	5,679,600	5,768,700	5,725,000	5,635,700	5,642,500	5,844,900	5,936,900	5,916,300	5,942,100	6,055,000	6,186,700	6,644,600	7,316,300	7,547,900	7,615,500
Debt-to-assets ratio		0.52	0.53	0.53	0.53	0.53	0.53	0.53	0.54	0.55	0.00	0.00	0.00	0.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,794,700K ÷ $5,356,300K
= 0.52

The debt-to-assets ratio of American Axle & Manufacturing Holdings Inc has remained fairly stable over the past eight quarters, ranging between 0.52 and 0.54. This indicates that the company has been able to maintain a moderate level of debt relative to its total assets during this period.

A debt-to-assets ratio of 0.52 to 0.54 suggests that approximately 52% to 54% of the company's assets are financed by debt, while the remaining 46% to 48% are funded by equity. This indicates a balanced mix of debt and equity financing in the company's capital structure.

Overall, the consistent debt-to-assets ratio implies that American Axle & Manufacturing Holdings Inc has maintained a relatively stable financial position in terms of leverage over the past two years. It is important for investors and stakeholders to continue monitoring this ratio to assess the company's ongoing ability to manage its debt levels effectively.