The Coca-Cola Company (KO)

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	35,547,000	34,176,000	35,626,000	36,134,000	36,377,000	35,462,000	36,755,000	37,052,000	38,116,000	39,394,000	39,804,000	40,170,000	40,125,000	39,502,000	37,729,000	31,094,000	27,516,000	31,012,000	29,296,000	29,400,000
Total assets	US$ in thousands	97,703,000	97,578,000	98,456,000	97,404,000	92,763,000	92,471,000	93,169,000	94,064,000	94,354,000	90,606,000	90,194,000	89,993,000	87,296,000	97,184,000	94,689,000	94,013,000	86,381,000	87,433,000	89,996,000	88,347,000
Debt-to-assets ratio		0.36	0.35	0.36	0.37	0.39	0.38	0.39	0.39	0.40	0.43	0.44	0.45	0.46	0.41	0.40	0.33	0.32	0.35	0.33	0.33

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $35,547,000K ÷ $97,703,000K
= 0.36

The trend analysis of Coca-Cola Co's debt-to-assets ratio over the past 8 quarters indicates that the company's ratio has been relatively stable, ranging between 0.41 to 0.45. This ratio represents the proportion of the company's total debt relative to its total assets.

The average debt-to-assets ratio over the period is approximately 0.43, suggesting that, on average, around 43% of Coca-Cola Co's total assets are financed by debt. A ratio of 0.43 indicates that the company relies moderately on debt financing to support its operations and investments.

The slight fluctuations in the ratio over the quarters may indicate varying levels of debt and asset composition within the company. The decrease in the ratio in Q3 2023 compared to Q2 2023 and an increase in Q4 2022 compared to Q3 2022 show some volatility but remain within a close range.

Overall, a consistent debt-to-assets ratio around 0.43 demonstrates a balanced capital structure for Coca-Cola Co, where a significant portion of its assets are funded by debt while maintaining a reasonable level of financial leverage.