Balance sheet - liabilities and equity
Net Debt
Measures financial debt after deducting eligible liquidity. The application includes cash, cash equivalents and liquid short-term investments; it excludes long-term, strategic and restricted investments.
Net Debt
netDebt · Balance sheet - liabilities and equity
- Definition
- Measures financial debt after deducting eligible liquidity. The application includes cash, cash equivalents and liquid short-term investments; it excludes long-term, strategic and restricted investments.
- Calculation
- Total debt - cash and equivalents - liquid short-term investments. If short-term investments are unavailable, the strict cash-only basis is used.
- Uses
- Supports comparable leverage and repayment-capacity analysis. It should be read with debt maturities, borrowing cost, covenants, leases and the actual availability of liquidity. The applied basis is retained with the value to prevent definitions from being mixed.
