LivaNova PLC (LIVN)

Debt-to-assets ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	549,624	568,543	518,067	9,849	642,298
Total assets	US$ in thousands	2,506,390	2,429,560	2,294,770	2,200,950	2,399,960
Debt-to-assets ratio		0.22	0.23	0.23	0.00	0.27

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $549,624K ÷ $2,506,390K
= 0.22

The debt-to-assets ratio of LivaNova PLC has shown a decreasing trend over the years, starting at 0.27 in December 2020 and reaching its lowest point of 0.00 in December 2021. Subsequently, the ratio increased slightly to 0.23 by December 2022 and has been relatively stable at this level through December 2024. This indicates that the company has become less reliant on debt to finance its assets over time, which may signify improved financial stability and lower financial risk. Overall, the decreasing trend followed by a plateau in the debt-to-assets ratio suggests a prudent approach to managing the company's capital structure.