FCFE net borrowing calc

CFA Level II
#1

There is a thread on the topic dating from back in 2013 but I am still confused. How do we calculate net borrowing?

One way from the thread was:

Net borrowing =

1. Increase (Decrease) in LT Debt + 2. Increase (Decrease) in ST Debt + 3. Increase (Decrease) in Notes Payable + 4. Increase (Decrease) in Preferred Shares.

So the full formula could be: LTD(t)-LTD(t-1) + STD(t)-STD(t-1) + NP(t)-NP(t-1) + PrefSh(t)-PrefSh(t-1)?

Thanks.

#2

Another useful way:

[(FCInv - Dep) + WCInv] × Debt Ratio