total debt same as total liabilities?

I’ve seen total debt defined as current liabilities (AP + short term debt) + long term debt + deferred taxes. If so, isn’t that same as total liabilities?

Equity…

Dreary I got a Q for ya, when accounting for off balance sheet debt, what are the effects on D/E? It’s related to your Q

…s o you’re saying total debt does not include off balance sheet debt, but total liabilities do? That makes *some* sense.

no but get this… off balance sheet financing, an analyst adjusts for it by adding the PV of the obligation to current assets and current liabilities (makes sense). However according to a number of q’s I’ve come accross, this increases D/E (which is long-term debt). Don’t understand how current liabilities somehow becomes long term debt. It’s sorta related to your Q, but I’d love to get a resolution to this…

mambovipi Wrote: ------------------------------------------------------- > no but get this… off balance sheet financing, an > analyst adjusts for it by adding the PV of the > obligation to current assets and current > liabilities (makes sense). However according to a > number of q’s I’ve come accross, this increases > D/E (which is long-term debt). Don’t understand > how current liabilities somehow becomes long term > debt. > > It’s sorta related to your Q, but I’d love to get > a resolution to this… You’re adding the PV of (several) future contingetn payments. Only the PV of the payment due in 1 yr or less gets included in current liabilities. The PV of the other is LTD.

that is why buy side capitalizes op leases and comnes out with a higher D/E than what company is telling you