Meaning of "net of the current portion" of long-term debt

I really just want to confirm this, but if you were to see the phrase “long-term debt, net of the current portion,” that would mean only long-term debt on the balance sheet, not including the current portion right? So if there is $1 million in long-term debt and $200,000 in the current portion of long-term debt, this company would have $1.2 million in interest-bearing debt, and its long-term debt, net of the current portion, would be $1 million.