Occidental Petroleum Corporation (OXY)

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	—	18,597,000	19,669,000	19,645,000	19,670,000	20,478,000	21,743,000	25,865,000	29,431,000	—	35,352,000	35,466,000	35,745,000	35,899,000	36,034,000	36,058,000	38,537,000	47,583,000	10,155,000	10,203,000
Total assets	US$ in thousands	74,008,000	71,827,000	71,199,000	71,600,000	72,609,000	72,144,000	74,221,000	74,222,000	75,036,000	75,758,000	79,937,000	79,355,000	80,064,000	84,434,000	89,452,000	101,643,000	107,190,000	125,443,000	44,770,000	44,380,000
Debt-to-assets ratio		0.00	0.26	0.28	0.27	0.27	0.28	0.29	0.35	0.39	0.00	0.44	0.45	0.45	0.43	0.40	0.35	0.36	0.38	0.23	0.23

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $74,008,000K
= 0.00

Occidental Petroleum Corp.'s debt-to-assets ratio has been relatively stable over the last eight quarters, ranging from 0.27 to 0.36. The ratio indicates that the company finances approximately 27% to 36% of its assets through debt, with a decreasing trend in recent quarters. A lower debt-to-assets ratio suggests a stronger financial position and lower risk for creditors. However, the gradual increase from Q1 2022 to Q1 2023 may indicate a slight increase in the company's reliance on debt to finance its operations. It would be important to monitor this trend in future periods to assess any potential impact on Occidental Petroleum Corp.'s financial stability and leverage.