Table:
|  | Fiscal |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Cash and cash equivalents | $305,833 | $310,495 |
| Short-term investments | 120 | 120 |
| Working capital | 854,507 | 865,664 |
Paragraphs:
Additional sources of cash available to us were international currency lines of credit and bank credit facilities totaling $26.0 million as of September 28, 2019, of which $20.8 million was unused and available. These unsecured international credit facilities were used in Europe and Japan during fiscal 2018. As of September 28, 2019, we had utilized $5.2 million of the international credit facilities as guarantees in Europe.
Our ratio of current assets to current liabilities increased to 4.6:1 at September 28, 2019 compared to 3.3:1 at September 29, 2018. The increase in our ratio was primarily due to lower income taxes payable, partially offset by decreases in our ratio due to lower accounts receivable and inventories. Our cash and cash equivalents, short-term investments and working capital are as follows (in thousands):
Question:
What led to the increase in the ratio of current assets to current liabilities?
Answer: primarily due to lower income taxes payable, partially offset by decreases in our ratio due to lower accounts receivable and inventories.