Eli Lilly and Company (LLY)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	28,527,100	29,045,400	23,730,400	24,559,900	18,320,800	17,923,600	18,158,400	18,880,500	14,737,500	14,143,800	14,692,000	15,152,900	15,346,400	15,522,400	14,736,600	16,199,600	16,586,600	16,334,600	15,064,400	13,982,300
Total assets	US$ in thousands	78,714,900	75,606,900	71,874,800	63,943,500	64,006,300	57,915,500	54,814,000	53,163,000	49,489,800	47,461,500	47,063,600	46,919,300	48,806,000	48,187,000	47,809,000	46,838,300	46,633,100	43,946,000	41,967,000	41,102,800
Debt-to-assets ratio		0.36	0.38	0.33	0.38	0.29	0.31	0.33	0.36	0.30	0.30	0.31	0.32	0.31	0.32	0.31	0.35	0.36	0.37	0.36	0.34

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $28,527,100K ÷ $78,714,900K
= 0.36

The debt-to-assets ratio for Eli Lilly and Company has fluctuated over the past few years, ranging from a low of 0.29 to a high of 0.38. This ratio indicates the proportion of the company's assets financed with debt, with higher ratios suggesting a greater reliance on debt financing.

From March 31, 2020, to December 31, 2021, the debt-to-assets ratio remained relatively stable, hovering around the 0.35 mark. However, there was a slight decrease observed in the ratio from June 30, 2021, to June 30, 2022, where it dropped from 0.31 to 0.30.

The ratio increased notably in the following quarters, with spikes observed on March 31, 2023, and September 30, 2024, when it reached 0.38. However, there were also periods of decline seen, such as the decrease from June 30, 2022, to September 30, 2022, where the ratio decreased from 0.31 to 0.30.

Overall, the debt-to-assets ratio for Eli Lilly and Company has shown some fluctuations but has generally remained within a moderate range, indicating a balanced mix of debt and assets in the company's capital structure.