IDEXX Laboratories Inc (IDXX)

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	622,883	618,813	696,844	696,362	694,387	760,814	767,995	773,381	775,205	778,025	780,079	778,747	858,492	853,316	900,300	698,000	698,910	697,200	701,100	699,800
Total assets	US$ in thousands	3,259,920	3,086,400	2,870,810	2,808,400	2,746,760	2,640,070	2,607,180	2,592,690	2,437,200	2,385,740	2,412,150	2,327,380	2,294,560	2,047,410	1,960,710	1,886,240	1,832,480	1,751,480	1,724,240	1,680,970
Debt-to-assets ratio		0.19	0.20	0.24	0.25	0.25	0.29	0.29	0.30	0.32	0.33	0.32	0.33	0.37	0.42	0.46	0.37	0.38	0.40	0.41	0.42

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $622,883K ÷ $3,259,920K
= 0.19

Idexx Laboratories, Inc.'s debt-to-assets ratio has exhibited a declining trend over the past eight quarters, indicating a relatively lower reliance on debt to finance its assets. The ratio decreased from 0.53 in Q3 2022 to 0.29 in Q4 2023. This suggests that the company has been successful in managing its debt levels in relation to its total assets. A declining debt-to-assets ratio generally indicates a stronger financial position and lower financial risk for the company. However, it is important to monitor this trend to ensure the company maintains a healthy balance between debt and assets to support its operations and growth strategy.