Range Resources Corp (RRC)

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	0	1,841,960	2,707,770	3,040,250	3,172,940
Total assets	US$ in thousands	7,203,880	6,625,560	6,660,510	6,136,940	6,612,400
Debt-to-assets ratio		0.00	0.28	0.41	0.50	0.48

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $0K ÷ $7,203,880K
= 0.00

The debt-to-assets ratio of Range Resources Corp has been demonstrating a declining trend over the past five years. In 2023, the ratio stood at 0.25, indicating that the company had $0.25 in debt for every $1 in assets. This suggests that Range Resources Corp is relying less on debt financing compared to the previous years.

In 2022 and 2021, the company's debt-to-assets ratio was 0.28 and 0.44, respectively, showing a gradual decrease in leverage. This reduction in the ratio indicates that Range Resources Corp has been successful in managing its debt levels relative to its asset base.

Further back in 2020 and 2019, the debt-to-assets ratio was 0.50 and 0.48, respectively. It is evident that the company has made significant progress in improving its financial leverage position over the years, reflecting a more conservative approach towards debt management.

Overall, the declining trend in Range Resources Corp's debt-to-assets ratio signifies a positive development in the company's financial structure, indicating a lower level of financial risk and improved solvency.