How it is worked out
Short-term borrowing plus long-term borrowing, as the balance sheet reports them.
How to read it
- On its own it says little: it matters next to the cash (net debt) and next to the earnings that service it.
- A bank's deposits are not debt in this sense, so debt figures read differently for banks.
Example
$200m of loans due this year and $1.3bn of bonds: total debt of $1.5bn.