Par Pacific Holdings Inc (PARR)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	646,603	494,576	553,717	648,660	599,634
Total assets	US$ in thousands	3,863,950	3,280,650	2,570,250	2,133,860	2,700,560
Debt-to-assets ratio		0.17	0.15	0.22	0.30	0.22

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $646,603K ÷ $3,863,950K
= 0.17

The debt-to-assets ratio for Par Pacific Holdings Inc has exhibited a decreasing trend over the past five years, indicating a positive development in the company's financial leverage. In 2023, the ratio stood at 0.33, reflecting a lower proportion of debt relative to the total assets compared to the previous years. This trend suggests that the company has been able to reduce its reliance on debt to finance its operations and investments, which can lead to improved financial stability and lower financial risk. Overall, the declining debt-to-assets ratio for Par Pacific Holdings Inc demonstrates a strengthening financial position and effective management of debt levels.