• First Horizon average debt/equity ratio for 2023 was 0.14, a 26.32% decline from 2022.
• First Horizon average debt/equity ratio for 2022 was 0.19, a 5% decline from 2021.
• First Horizon average debt/equity ratio for 2021 was 0.2, a 23.08% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.