Black Hills Corporation (BKH)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	4,250,200	4,248,800	4,247,100	3,802,800	3,801,200	3,799,510	3,955,740	3,954,410	3,607,300	4,131,030	4,129,660	4,128,290	4,126,920	4,125,570	3,530,220	3,529,160	3,528,100	3,526,890	3,532,890	3,136,890
Total assets	US$ in thousands	10,022,600	9,718,700	10,185,900	9,676,700	9,620,400	9,932,930	9,409,100	9,460,140	9,618,200	9,322,290	9,134,560	9,130,650	9,131,900	8,910,390	8,738,050	8,696,200	8,088,790	7,829,050	7,689,930	7,648,810
Debt-to-assets ratio		0.42	0.44	0.42	0.39	0.40	0.38	0.42	0.42	0.38	0.44	0.45	0.45	0.45	0.46	0.40	0.41	0.44	0.45	0.46	0.41

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,250,200K ÷ $10,022,600K
= 0.42

The debt-to-assets ratio of Black Hills Corporation has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The ratio ranged from 0.38 to 0.46 during this timeframe, indicating the proportion of the company's total debt relative to its total assets.

In the initial period, the ratio started at 0.41 in March 2020 and reached a peak of 0.46 in June 2020 before stabilizing around 0.44-0.46 until September 2021. Subsequently, there was a decline to 0.38 by September 30, 2023, followed by a slight increase and fluctuations hovering in the range of 0.38 to 0.42 until December 31, 2024.

Overall, the debt-to-assets ratio of Black Hills Corporation has shown some variability, with a slight decreasing trend towards the end of the analyzed period. This ratio is essential for assessing the company's leverage and financial risk, indicating the extent to which the company relies on debt financing to support its operations and growth.