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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. California Resources's Operating Income for the three months ended in Dec. 2023 was $139 Mil. California Resources's Interest Expense for the three months ended in Dec. 2023 was $-13 Mil. California Resources's interest coverage for the quarter that ended in Dec. 2023 was 10.69. The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for California Resources's Interest Coverage or its related term are showing as below:
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
The historical data trend for California Resources's Interest Coverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
California Resources Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Interest Coverage | Get a 7-Day Free Trial | 1.27 | N/A | 16.17 | 24.64 | 14.13 |
California Resources Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Interest Coverage | Get a 7-Day Free Trial | 18.93 | 26.69 | 8.29 | 12.60 | 10.69 |
For the Oil & Gas E&P subindustry, California Resources's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Oil & Gas industry and Energy sector, California Resources's Interest Coverage distribution charts can be found below:
* The bar in red indicates where California Resources's Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
If Interest Expense is negative and Operating Income is positive, then
Interest Coverage | = | -1 | * | Operating Income | / | Interest Expense |
Else if Interest Expense is negative and Operating Income is negative, then
The company did not have earnings to cover the interest expense. |
Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then
The company had no debt (1). |
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
California Resources's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as
Here, for the fiscal year that ended in Dec. 2023, California Resources's Interest Expense was $-56 Mil. Its Operating Income was $791 Mil. And its Long-Term Debt & Capital Lease Obligation was $595 Mil.
Interest Coverage | = | -1 | * | Operating Income (A: Dec. 2023 ) | / | Interest Expense (A: Dec. 2023 ) |
= | -1 | * | 791 | / | -56 | |
= | 14.13 |
California Resources's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as
Here, for the three months ended in Dec. 2023, California Resources's Interest Expense was $-13 Mil. Its Operating Income was $139 Mil. And its Long-Term Debt & Capital Lease Obligation was $595 Mil.
Interest Coverage | = | -1 | * | Operating Income (Q: Dec. 2023 ) | / | Interest Expense (Q: Dec. 2023 ) |
= | -1 | * | 139 | / | -13 | |
= | 10.69 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
The higher the ratio, the stronger the company's Financial Strength is.
California Resources (NYSE:CRC) Interest Coverage Explanation
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Thank you for viewing the detailed overview of California Resources's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.
Omar Hayat | officer: EVP - Operations | 1 WORLD TRADE CENTER, SUITE 1500, LONG BEACH CA 90831 |
Peralta Manuela Molina | officer: EVP and CFO | 1 WORLD TRADE CENTER, SUITE 1500, LONG BEACH CA 90831 |
William B Roby | director | 27200 TOURNEY ROAD, SUITE 200, SANTA CLARITA CA 91355 |
Goldentree Asset Management Lp | 10 percent owner | 300 PARK AVENUE, 21ST FLOOR, NEW YORK NY 10022 |
Ares Management Llc | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
Alejandra Veltmann | director | 1500 CITYWEST BLVD., SUITE 800, HOUSTON TX 77042 |
Neeman Brady Nicole Elana | director | 113 S. LA BREA BLVD., 3RD FLOOR, LOS ANGELES CA 90036 |
Christopher D. Gould | officer: EVP & Chief Sustainability Off | 27200 TOURNEY ROAD, SUITE 200, SANTA CLARITA CA 91355 |
Ssf Iv Energy I Aiv 2, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Assf Operating Manager Iv, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 1a, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 1b, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Af V Energy Iv Aiv 2, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Ssf Iv Energy I Aiv 1a, L.p. | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, C/O ARES MANAGEMENT, LOS ANGELES CA 90067 |
Acof Investment Management Llc | 10 percent owner | 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES CA 90067 |
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