Genuine Parts Co (GPC)

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	3,550,930	2,963,450	2,986,140	3,094,320	3,076,790	3,231,670	3,304,220	3,387,850	2,409,360	2,432,540	2,472,980	2,458,020	2,516,610	2,700,620	2,727,930	2,726,390	2,802,060	2,795,880	2,871,110	2,389,240
Total assets	US$ in thousands	17,968,500	17,021,900	16,941,600	16,907,500	16,495,400	16,377,100	16,238,200	16,273,300	14,352,100	13,974,900	14,086,000	13,943,500	13,440,200	13,475,500	13,264,000	14,451,400	14,645,600	14,513,200	14,639,500	14,070,500
Debt-to-assets ratio		0.20	0.17	0.18	0.18	0.19	0.20	0.20	0.21	0.17	0.17	0.18	0.18	0.19	0.20	0.21	0.19	0.19	0.19	0.20	0.17

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,550,930K ÷ $17,968,500K
= 0.20

The debt-to-assets ratio of Genuine Parts Co. has been relatively stable over the past eight quarters, fluctuating between 0.19 and 0.22. This ratio indicates that, on average, approximately 20% to 22% of the company's assets are financed by debt. A declining trend in the ratio would suggest a lower reliance on debt financing, potentially indicating a stronger financial position and lower risk. On the other hand, an increasing trend could signal a higher debt burden and increased financial risk. It is important for investors and stakeholders to monitor changes in the debt-to-assets ratio over time to assess Genuine Parts Co.'s financial leverage and solvency.