California Resources Corp (CRC)

Cash 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
Cash and cash equivalents	US$ in thousands	496,000	479,000	448,000	477,000	307,000	358,000	324,000	328,000	305,000	189,000	151,000	130,000	28,000	98,000	105,000	67,000	14,000	20,000	15,000	17,000
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	24,000	21,000	10,000	3,000	2,000	12,000	26,000
Total current liabilities	US$ in thousands	616,000	694,000	582,000	717,000	894,000	932,000	1,208,000	1,205,000	854,000	957,000	886,000	622,000	473,000	1,194,000	5,759,000	543,000	709,000	721,000	610,000	689,000
Cash ratio		0.81	0.69	0.77	0.67	0.34	0.38	0.27	0.27	0.36	0.20	0.17	0.21	0.06	0.10	0.02	0.14	0.02	0.03	0.04	0.06

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($496,000K + $—K) ÷ $616,000K
= 0.81

The cash ratio of California Resources Corporation has shown a fluctuating trend over the past five quarters. The ratio increased from 0.53 in Q4 2022 to 1.02 in Q4 2023, indicating an improvement in the company's ability to cover its short-term liabilities with its cash and cash equivalents. However, there was a slight decline in Q3 2023 to 0.87 before rebounding back to 1.03 in Q2 2023 and then slightly dropped to 0.90 in Q1 2023.

Overall, the company's cash ratio demonstrates a relatively strong liquidity position, particularly in Q4 2023. This suggests that California Resources Corporation has a sufficient level of liquid assets to meet its short-term obligations and indicates a conservative approach to managing its liquidity. It is essential for the company to continue monitoring and managing its cash resources effectively to sustain its liquidity position over time.