NiSource Inc (NI)

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	12,505,200	12,926,500	11,762,200	10,852,300	10,370,900	9,589,200	10,079,700	9,488,200	8,479,400	8,154,600	8,770,000	9,202,000	10,415,700	10,558,100	10,577,400	10,178,000	11,034,200	10,723,500	10,493,600	8,381,100
Total assets	US$ in thousands	31,788,100	30,828,100	29,897,600	29,338,100	31,077,200	27,828,200	27,343,700	26,853,700	26,736,600	25,576,400	24,813,800	24,365,500	24,156,900	22,778,600	22,313,800	22,194,500	22,040,500	22,701,500	22,436,500	22,592,700
Debt-to-assets ratio		0.39	0.42	0.39	0.37	0.33	0.34	0.37	0.35	0.32	0.32	0.35	0.38	0.43	0.46	0.47	0.46	0.50	0.47	0.47	0.37

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $12,505,200K ÷ $31,788,100K
= 0.39

The debt-to-assets ratio of NiSource Inc has shown some fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio started at 0.37 on March 31, 2020, and increased to 0.50 by December 31, 2020. However, from that point on, the ratio gradually decreased over the next few years to reach 0.33 by December 31, 2023. There was a slight increase to 0.39 by June 30, 2024, but it decreased again to 0.39 by December 31, 2024.

Overall, the trend indicates that NiSource Inc has managed to reduce its debt relative to its total assets over the period under review. This suggests that the company may be becoming more efficient in managing its debt levels or potentially increasing its asset base. A lower debt-to-assets ratio generally indicates less financial risk and a stronger financial position for the company.