Eastman Chemical Company (EMN)

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	4,305,000	4,580,000	4,593,000	4,636,000	4,025,000	3,979,000	4,012,000	4,379,000	4,412,000	4,442,000	5,223,000	5,200,000	5,269,000	5,495,000	5,431,000	5,399,000	5,611,000	5,567,000	5,624,000	5,602,000
Total assets	US$ in thousands	14,633,000	14,594,000	14,771,000	14,983,000	14,667,000	14,985,000	14,875,000	15,806,000	15,519,000	16,259,000	16,098,000	16,195,000	16,083,000	16,009,000	15,973,000	16,465,000	16,008,000	16,137,000	16,256,000	16,361,000
Debt-to-assets ratio		0.29	0.31	0.31	0.31	0.27	0.27	0.27	0.28	0.28	0.27	0.32	0.32	0.33	0.34	0.34	0.33	0.35	0.34	0.35	0.34

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $4,305,000K ÷ $14,633,000K
= 0.29

The debt-to-assets ratio of Eastman Chemical Co has been relatively stable over the past eight quarters, ranging from 0.33 to 0.38. This ratio measures the proportion of the company's assets financed by debt, with a higher ratio indicating a higher degree of leverage.

The trend shows that Eastman Chemical Co has maintained a conservative approach to debt financing, as the ratio has mostly hovered around the mid-0.30s range. This suggests that the company has a strong asset base to support its debt obligations, as a lower ratio indicates a higher proportion of assets funded by equity.

The slight increase in the ratio from Q4 2022 to Q1 2023 could indicate a slight increase in debt relative to assets during that period. However, the ratio has remained relatively stable since then. It is important for investors to monitor this ratio over time to assess the company's ability to manage debt and its overall financial health.