California Resources Corp (CRC)

Debt-to-capital 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	1,132,000	1,131,000	1,161,000	541,000	540,000	589,000	593,000	592,000	592,000	591,000	591,000	590,000	589,000	589,000	589,000	588,000	597,000	0	0	1,000,000
Total stockholders’ equity	US$ in thousands	3,538,000	3,501,000	2,052,000	2,093,000	2,219,000	2,050,000	2,110,000	2,092,000	1,864,000	1,855,000	1,517,000	1,433,000	1,688,000	1,052,000	893,000	1,046,000	1,138,000	-2,341,000	-2,452,000	-2,183,000
Debt-to-capital ratio		0.24	0.24	0.36	0.21	0.20	0.22	0.22	0.22	0.24	0.24	0.28	0.29	0.26	0.36	0.40	0.36	0.34	—	—	—

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,132,000K ÷ ($1,132,000K + $3,538,000K)
= 0.24

The debt-to-capital ratio of California Resources Corp has shown some fluctuations over the years. As of December 31, 2020, the ratio was 0.34, indicating that 34% of the company's capital was financed through debt. The ratio increased to 0.40 by June 30, 2021, but then decreased to 0.26 by December 31, 2021.

Subsequently, there were further fluctuations in the ratio, reaching a low of 0.20 by December 31, 2023, before slightly increasing to 0.21 by March 31, 2024. The ratio then spiked to 0.36 by June 30, 2024 before declining again to 0.24 by September 30, 2024 and remaining at the same level by December 31, 2024.

Overall, the trend in the debt-to-capital ratio of California Resources Corp shows variability, with periodic increases and decreases in the level of debt relative to the company's overall capital structure. It is essential for stakeholders to monitor these fluctuations to assess the company's leverage and financial risk.