L3Harris Technologies Inc (LHX)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Jun 30, 2019
Long-term debt	US$ in thousands	11,160,000	6,225,000	7,048,000	6,943,000	2,763,000
Total assets	US$ in thousands	41,687,000	33,524,000	34,709,000	36,960,000	10,117,000
Debt-to-assets ratio		0.27	0.19	0.20	0.19	0.27

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $11,160,000K ÷ $41,687,000K
= 0.27

The debt-to-assets ratio for L3Harris Technologies Inc has displayed some fluctuations over the past five years.

As of December 31, 2023, the ratio has increased to 0.27 from 0.19 in the previous year. This suggests that the company's level of debt in relation to its total assets has grown, indicating a higher reliance on debt to finance its operations or investments.

Comparing this to the ratios from 2021 and 2020, where the ratio was at 0.20 and 0.19 respectively, there appears to be a moderate uptrend in the debt-to-assets ratio in recent years.

Looking back to June 30, 2019, the ratio was also at 0.27, showing that the company has returned to a similar level of debt-to-assets ratio after a period of decrease.

Further analysis would be necessary to understand the reasons behind these fluctuations and whether they align with the company's overall financial strategy and performance.