California Resources Corp (CRC)

Debt-to-equity 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	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	4,877,000	3,900,000	4,600,000	4,800,000
Total stockholders’ equity	US$ in thousands	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	-389,000	-308,000	-408,000	-426,000
Debt-to-equity ratio		0.24	0.29	0.28	0.28	0.32	0.32	0.39	0.41	0.35	0.56	0.66	0.56	0.52	—	—	—	—	—	—	—

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $540,000K ÷ $2,219,000K
= 0.24

The debt-to-equity ratio of California Resources Corporation has shown a decreasing trend over the past five quarters. The ratio was at its highest in Q4 2022 at 0.32 and has steadily decreased to 0.24 in Q4 2023. This indicates that the company is relying less on debt to finance its operations and investments compared to its equity. A lower debt-to-equity ratio could signal a stronger financial position and less financial risk for the company. Overall, this downward trend in the debt-to-equity ratio suggests a positive development in the company's capital structure and financial health.