Expeditors International of Washington Inc (EXPD)

Debt-to-capital 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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,390,350	2,489,780	2,555,930	3,147,170	3,110,020	3,482,180	3,525,250	3,843,390	3,494,430	3,417,360	3,079,450	2,874,790	2,659,640	2,502,030	2,159,120	2,034,810	2,195,030	2,207,380	2,050,970	2,124,270
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,390,350K)
= 0.00

The debt-to-capital ratio for Expeditors International Of Washington, Inc. has consistently remained at 0.00 across all quarters from Q1 2022 to Q4 2023. This indicates that the company has not utilized debt as a significant source of capital relative to its total capital structure. A debt-to-capital ratio of 0.00 typically suggests that the company is using primarily equity financing to fund its operations, which can reflect a more conservative financial strategy with lower financial risk. It is important to note that a debt-to-capital ratio of 0.00 does not necessarily mean that the company has no debt, but rather that the amount of debt in its capital structure is negligible compared to its total capital. Overall, the consistent 0.00 debt-to-capital ratio suggests that Expeditors International Of Washington, Inc. maintains a relatively low level of financial leverage in its capital structure.