{"product_id":"net-debt","title":"Net Debt Calculator","description":"\u003cstyle\u003e\n.ndc-calculator {\n  --ink: #0f172a;\n  --muted: #475569;\n  --border: #e2e8f0;\n  --surface: #ffffff;\n  --tint: #f8fafc;\n  --primary: #1d4ed8;\n  --accent: #c2410c;\n  --accent-hover: #9a3412;\n  --chart-1: #1e40af;\n  --chart-2: #0d9488;\n  --chart-3: #7c3aed;\n  --chart-4: #be185d;\n  --chart-5: #334155;\n  color: var(--ink);\n  background: var(--tint);\n  container-name: ndc;\n  container-type: inline-size;\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Helvetica, Arial, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  margin: 0 auto;\n  max-width: 1200px;\n  width: 100%;\n}\n.ndc-calculator,\n.ndc-calculator *,\n.ndc-calculator *::before,\n.ndc-calculator *::after {\n  box-sizing: border-box;\n}\n.ndc-calculator * {\n  min-width: 0;\n}\n.ndc-shell {\n  padding: 24px;\n}\n.ndc-calculator h2,\n.ndc-calculator h3,\n.ndc-calculator p {\n  margin-top: 0;\n}\n.ndc-calculator h2 {\n  font-size: 24px;\n  font-weight: 700;\n  line-height: 1.25;\n  margin-bottom: 8px;\n}\n.ndc-calculator h3 {\n  font-size: 18px;\n  font-weight: 650;\n  line-height: 1.35;\n  margin-bottom: 12px;\n}\n.ndc-calculator a {\n  color: var(--primary);\n  text-decoration-thickness: 1px;\n  text-underline-offset: 2px;\n}\n.ndc-calculator a:hover {\n  text-decoration-thickness: 2px;\n}\n.ndc-header {\n  margin-bottom: 16px;\n}\n.ndc-subtitle {\n  color: var(--muted);\n  margin-bottom: 16px;\n  max-width: 780px;\n}\n.ndc-pills {\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px;\n}\n.ndc-pill {\n  align-items: center;\n  background: var(--surface);\n  border: 1px solid var(--border);\n  border-radius: 999px;\n  color: var(--muted);\n  display: inline-flex;\n  font-size: 13px;\n  font-weight: 500;\n  gap: 6px;\n  padding: 6px 10px;\n}\n.ndc-pill strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n  font-weight: 700;\n}\n.ndc-toolbar {\n  align-items: center;\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px;\n  margin-bottom: 16px;\n}\n.ndc-button {\n  align-items: center;\n  border: 1px solid transparent;\n  border-radius: 6px;\n  cursor: pointer;\n  display: inline-flex;\n  font: inherit;\n  font-weight: 650;\n  gap: 10px;\n  justify-content: center;\n  min-height: 44px;\n  padding: 10px 16px;\n  text-decoration: none;\n  transition: background-color .15s ease, border-color .15s ease, box-shadow .15s ease, transform .15s ease;\n}\n.ndc-button:focus-visible,\n.ndc-input:focus-visible,\n.ndc-radio-label:has(input:focus-visible) {\n  outline: 3px solid rgba(29, 78, 216, .32);\n  outline-offset: 2px;\n}\n.ndc-button:hover {\n  box-shadow: 0 2px 5px rgba(15, 23, 42, .12);\n}\n.ndc-button:active {\n  transform: translateY(1px);\n}\n.ndc-download {\n  background: var(--accent);\n  color: #ffffff;\n  padding: 12px 18px;\n  white-space: nowrap;\n}\n.ndc-download:hover {\n  background: var(--accent-hover);\n}\n.ndc-reset {\n  background: var(--surface);\n  border-color: #cbd5e1;\n  color: var(--ink);\n}\n.ndc-button-icon {\n  display: inline-flex;\n  font-size: 18px;\n  line-height: 1;\n}\n.ndc-workspace {\n  display: grid;\n  gap: 16px;\n  grid-template-columns: minmax(0, 1fr);\n  margin-bottom: 16px;\n}\n.ndc-panel,\n.ndc-chart-card,\n.ndc-table-card,\n.ndc-education {\n  background: var(--surface);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, .06);\n  padding: 20px;\n}\n.ndc-panel-title {\n  align-items: baseline;\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px 12px;\n  justify-content: space-between;\n  margin-bottom: 16px;\n}\n.ndc-panel-title h3 {\n  margin-bottom: 0;\n}\n.ndc-panel-kicker {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.ndc-fieldset {\n  border: 0;\n  margin: 0 0 16px;\n  padding: 0;\n}\n.ndc-legend-label,\n.ndc-label {\n  color: var(--ink);\n  display: block;\n  font-size: 14px;\n  font-weight: 600;\n  margin-bottom: 6px;\n}\n.ndc-segmented {\n  display: inline-grid;\n  gap: 4px;\n  grid-template-columns: repeat(3, minmax(0, 1fr));\n  width: 100%;\n}\n.ndc-radio-label {\n  align-items: center;\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  color: var(--muted);\n  cursor: pointer;\n  display: flex;\n  font-size: 13px;\n  font-weight: 650;\n  justify-content: center;\n  min-height: 42px;\n  padding: 8px 10px;\n  position: relative;\n  text-align: center;\n}\n.ndc-radio-label input {\n  height: 1px;\n  opacity: 0;\n  position: absolute;\n  width: 1px;\n}\n.ndc-radio-label:has(input:checked) {\n  background: #eff6ff;\n  border-color: var(--primary);\n  color: #1e3a8a;\n}\n.ndc-input-grid {\n  display: grid;\n  gap: 16px;\n  grid-template-columns: repeat(auto-fit, minmax(220px, 1fr));\n}\n.ndc-field {\n  display: flex;\n  flex-direction: column;\n}\n.ndc-input-wrap {\n  position: relative;\n}\n.ndc-input {\n  appearance: none;\n  background: var(--surface);\n  border: 1px solid #cbd5e1;\n  border-radius: 6px;\n  color: var(--ink);\n  font: inherit;\n  font-variant-numeric: tabular-nums;\n  min-height: 44px;\n  padding: 10px 66px 10px 12px;\n  width: 100%;\n}\n.ndc-input:hover {\n  border-color: #94a3b8;\n}\n.ndc-input[aria-invalid=\"true\"] {\n  border-color: #b91c1c;\n}\n.ndc-unit-badge {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 650;\n  pointer-events: none;\n  position: absolute;\n  right: 12px;\n  top: 50%;\n  transform: translateY(-50%);\n}\n.ndc-helper,\n.ndc-error {\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.45;\n  margin-top: 6px;\n  min-height: 38px;\n}\n.ndc-helper {\n  color: var(--muted);\n}\n.ndc-error {\n  color: #991b1b;\n  display: none;\n}\n.ndc-field.ndc-has-error .ndc-helper {\n  display: none;\n}\n.ndc-field.ndc-has-error .ndc-error {\n  display: block;\n}\n.ndc-result-panel {\n  display: flex;\n  flex-direction: column;\n}\n.ndc-primary-result {\n  background: #eff6ff;\n  border: 1px solid #bfdbfe;\n  border-radius: 8px;\n  margin-bottom: 16px;\n  padding: 16px;\n}\n.ndc-primary-label {\n  color: #1e3a8a;\n  font-size: 13px;\n  font-weight: 650;\n  margin-bottom: 4px;\n}\n.ndc-primary-value {\n  color: #172554;\n  font-size: 30px;\n  font-variant-numeric: tabular-nums;\n  font-weight: 700;\n  letter-spacing: -.02em;\n  line-height: 1.15;\n  overflow-wrap: anywhere;\n}\n.ndc-primary-status {\n  color: #1e3a8a;\n  font-size: 13px;\n  font-weight: 500;\n  margin-top: 8px;\n}\n.ndc-result-grid {\n  display: grid;\n  gap: 12px;\n  grid-template-columns: repeat(2, minmax(0, 1fr));\n}\n.ndc-result-card {\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  padding: 14px;\n}\n.ndc-result-label {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  margin-bottom: 4px;\n}\n.ndc-result-value {\n  color: var(--ink);\n  font-size: 20px;\n  font-variant-numeric: tabular-nums;\n  font-weight: 700;\n  line-height: 1.25;\n  overflow-wrap: anywhere;\n}\n.ndc-result-note {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  margin-top: 5px;\n}\n.ndc-live {\n  clip: rect(0 0 0 0);\n  clip-path: inset(50%);\n  height: 1px;\n  overflow: hidden;\n  position: absolute;\n  white-space: nowrap;\n  width: 1px;\n}\n.ndc-chart-card,\n.ndc-table-card {\n  margin-bottom: 16px;\n}\n.ndc-chart-header {\n  margin-bottom: 16px;\n}\n.ndc-chart-header h3 {\n  margin-bottom: 4px;\n}\n.ndc-chart-intro {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  margin-bottom: 0;\n}\n.ndc-chart-cluster {\n  align-items: center;\n  display: grid;\n  gap: 24px;\n  justify-content: center;\n  margin: 0 auto;\n  max-width: 680px;\n}\n.ndc-plot-wrap {\n  align-items: center;\n  display: flex;\n  justify-content: center;\n  min-height: 0;\n}\n.ndc-chart-svg {\n  display: block;\n  height: auto;\n  max-width: 320px;\n  width: min(100%, 320px);\n}\n.ndc-chart-svg text {\n  fill: var(--ink);\n  font-family: inherit;\n  font-variant-numeric: tabular-nums;\n}\n.ndc-chart-empty {\n  background: var(--tint);\n  border: 1px dashed #cbd5e1;\n  border-radius: 6px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  padding: 16px;\n  text-align: center;\n  width: 100%;\n}\n.ndc-legend-panel {\n  align-self: stretch;\n  display: flex;\n  flex-direction: column;\n  justify-content: center;\n}\n.ndc-legend-panel[hidden] {\n  display: none;\n}\n.ndc-legend {\n  display: grid;\n  gap: 10px;\n  justify-content: center;\n}\n.ndc-chart-metrics {\n  border-top: 1px solid var(--border);\n  display: grid;\n  gap: 8px;\n  margin-top: 20px;\n  padding-top: 16px;\n}\n.ndc-chart-metric {\n  align-items: baseline;\n  display: grid;\n  gap: 8px 16px;\n  grid-template-columns: minmax(110px, auto) auto;\n  justify-content: start;\n}\n.ndc-chart-metric span,\n.ndc-chart-metric strong {\n  font-size: 13px;\n  font-weight: 500;\n}\n.ndc-chart-metric span {\n  color: var(--muted);\n}\n.ndc-chart-metric strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n  font-weight: 700;\n}\n.ndc-legend-row {\n  align-items: center;\n  display: grid;\n  gap: 8px 12px;\n  grid-template-columns: 12px minmax(110px, auto) auto auto;\n  justify-content: start;\n}\n.ndc-swatch {\n  border-radius: 3px;\n  height: 12px;\n  width: 12px;\n}\n.ndc-legend-name,\n.ndc-legend-value,\n.ndc-legend-percent {\n  font-size: 13px;\n  font-weight: 500;\n}\n.ndc-legend-name {\n  color: var(--ink);\n}\n.ndc-legend-value,\n.ndc-legend-percent {\n  color: var(--muted);\n  font-variant-numeric: tabular-nums;\n}\n.ndc-chart-callout,\n.ndc-table-note {\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  margin-top: 16px;\n  padding: 10px 12px;\n}\n.ndc-safe-chart-stack .ndc-chart-cluster {\n  gap: 24px;\n  grid-template-columns: minmax(0, 1fr);\n}\n.ndc-safe-chart-stack .ndc-legend-panel {\n  align-self: auto;\n}\n.ndc-safe-chart-stack .ndc-chart-callout {\n  margin-top: 20px;\n}\n.ndc-chart-summary {\n  border-collapse: collapse;\n  clip: rect(0 0 0 0);\n  clip-path: inset(50%);\n  height: 1px;\n  overflow: hidden;\n  position: absolute;\n  white-space: nowrap;\n  width: 1px;\n}\n.ndc-table-overflow {\n  overflow-x: auto;\n  width: 100%;\n}\n.ndc-table {\n  border-collapse: collapse;\n  min-width: 620px;\n  width: 100%;\n}\n.ndc-table th,\n.ndc-table td {\n  border-bottom: 1px solid var(--border);\n  padding: 11px 12px;\n  text-align: left;\n  vertical-align: top;\n}\n.ndc-table th {\n  background: #172554;\n  color: #ffffff;\n  font-size: 13px;\n  font-weight: 700;\n}\n.ndc-table td {\n  font-size: 14px;\n}\n.ndc-table td:nth-child(2),\n.ndc-table th:nth-child(2) {\n  text-align: right;\n}\n.ndc-table td:nth-child(2) {\n  font-variant-numeric: tabular-nums;\n  font-weight: 650;\n}\n.ndc-table tbody tr:hover {\n  background: #fafafa;\n}\n.ndc-safe-table-stack .ndc-table-note {\n  margin-top: 20px;\n}\n.ndc-education {\n  color: #334155;\n}\n.ndc-education h2 {\n  color: var(--ink);\n  margin-bottom: 12px;\n}\n.ndc-education h3 {\n  color: var(--ink);\n  margin-top: 24px;\n}\n.ndc-education p,\n.ndc-education li {\n  max-width: 900px;\n}\n.ndc-education ul {\n  margin: 0 0 16px;\n  padding-left: 22px;\n}\n.ndc-formula {\n  background: #eff6ff;\n  border-left: 4px solid var(--primary);\n  border-radius: 0 6px 6px 0;\n  color: #172554;\n  font-variant-numeric: tabular-nums;\n  font-weight: 700;\n  margin: 16px 0;\n  padding: 12px 14px;\n}\n@container ndc (min-width: 640px) {\n  .ndc-chart-cluster {\n    grid-template-columns: minmax(220px, 320px) max-content;\n  }\n}\n@container ndc (min-width: 900px) {\n  .ndc-workspace {\n    grid-template-columns: minmax(0, 1fr) minmax(0, .9fr);\n  }\n}\n@container ndc (max-width: 639px) {\n  .ndc-shell {\n    padding: 16px;\n  }\n  .ndc-panel,\n  .ndc-chart-card,\n  .ndc-table-card,\n  .ndc-education {\n    padding: 16px;\n  }\n  .ndc-chart-cluster {\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .ndc-legend-panel {\n    align-self: auto;\n  }\n  .ndc-legend {\n    justify-content: stretch;\n  }\n  .ndc-legend-row {\n    grid-template-columns: 12px minmax(0, 1fr) auto;\n  }\n  .ndc-legend-percent {\n    grid-column: 2 \/ 4;\n    padding-left: 0;\n  }\n  .ndc-result-grid {\n    grid-template-columns: minmax(0, 1fr);\n  }\n}\n@container ndc (max-width: 380px) {\n  .ndc-shell {\n    padding: 12px;\n  }\n  .ndc-toolbar .ndc-button {\n    width: 100%;\n  }\n  .ndc-segmented {\n    grid-template-columns: minmax(0, 1fr);\n  }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"ndc-calculator\" data-calculator-root data-scale=\"1\"\u003e\n  \u003cdiv class=\"ndc-shell\"\u003e\n  \u003csection class=\"ndc-header\"\u003e\n    \u003ch2\u003eNet Debt Calculator\u003c\/h2\u003e\n    \u003cp class=\"ndc-subtitle\"\u003eEstimate the amount of debt left after available cash and cash equivalents are applied to short- and long-term obligations.\u003c\/p\u003e\n    \u003cdiv class=\"ndc-pills\" aria-label=\"Live summary\"\u003e\n      \u003cspan class=\"ndc-pill\"\u003eTotal debt \u003cstrong data-ndc-pill-total\u003e$0.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"ndc-pill\"\u003eCash coverage \u003cstrong data-ndc-pill-coverage\u003e—\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"ndc-pill\"\u003ePosition \u003cstrong data-ndc-pill-position\u003eFully offset\u003c\/strong\u003e\u003c\/span\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003cdiv class=\"ndc-toolbar\" aria-label=\"Calculator actions\"\u003e\n    \u003cbutton class=\"ndc-button ndc-download\" type=\"button\" data-ndc-download\u003e\n      \u003cspan class=\"ndc-button-icon\" aria-hidden=\"true\"\u003e⇩\u003c\/span\u003e\n      \u003cspan\u003eDownload Excel\u003c\/span\u003e\n    \u003c\/button\u003e\n    \u003cbutton class=\"ndc-button ndc-reset\" type=\"button\" data-ndc-reset\u003eReset\u003c\/button\u003e\n  \u003c\/div\u003e\n\n  \u003csection class=\"ndc-workspace\"\u003e\n    \u003cdiv class=\"ndc-panel\"\u003e\n      \u003cdiv class=\"ndc-panel-title\"\u003e\n        \u003ch3\u003eBalance sheet inputs\u003c\/h3\u003e\n        \u003cspan class=\"ndc-panel-kicker\"\u003eEnter non-negative amounts\u003c\/span\u003e\n      \u003c\/div\u003e\n\n      \u003cfieldset class=\"ndc-fieldset\"\u003e\n        \u003clegend class=\"ndc-legend-label\"\u003eAmount scale\u003c\/legend\u003e\n        \u003cdiv class=\"ndc-segmented\"\u003e\n          \u003clabel class=\"ndc-radio-label\" for=\"ndc-scale-dollars\"\u003e\n            \u003cinput id=\"ndc-scale-dollars\" name=\"ndc-scale\" type=\"radio\" value=\"1\" checked\u003e\n            Dollars\n          \u003c\/label\u003e\n          \u003clabel class=\"ndc-radio-label\" for=\"ndc-scale-thousands\"\u003e\n            \u003cinput id=\"ndc-scale-thousands\" name=\"ndc-scale\" type=\"radio\" value=\"1000\"\u003e\n            Thousands\n          \u003c\/label\u003e\n          \u003clabel class=\"ndc-radio-label\" for=\"ndc-scale-millions\"\u003e\n            \u003cinput id=\"ndc-scale-millions\" name=\"ndc-scale\" type=\"radio\" value=\"1000000\"\u003e\n            Millions\n          \u003c\/label\u003e\n        \u003c\/div\u003e\n      \u003c\/fieldset\u003e\n\n      \u003cdiv class=\"ndc-input-grid\"\u003e\n        \u003cdiv class=\"ndc-field\" data-ndc-field=\"cash\"\u003e\n          \u003clabel class=\"ndc-label\" for=\"ndc-cash\"\u003eCash and cash equivalents\u003c\/label\u003e\n          \u003cdiv class=\"ndc-input-wrap\"\u003e\n            \u003cinput class=\"ndc-input\" id=\"ndc-cash\" inputmode=\"decimal\" type=\"text\" value=\"$0.00\" aria-describedby=\"ndc-cash-help ndc-cash-error\"\u003e\n            \u003cspan class=\"ndc-unit-badge\" data-ndc-unit-badge\u003eUSD\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ndc-helper\" id=\"ndc-cash-help\"\u003eCash, bank balances, and highly liquid investments available to offset debt.\u003c\/div\u003e\n          \u003cdiv class=\"ndc-error\" id=\"ndc-cash-error\"\u003eEnter a valid amount of zero or more.\u003c\/div\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"ndc-field\" data-ndc-field=\"shortDebt\"\u003e\n          \u003clabel class=\"ndc-label\" for=\"ndc-short-debt\"\u003eShort-term debt\u003c\/label\u003e\n          \u003cdiv class=\"ndc-input-wrap\"\u003e\n            \u003cinput class=\"ndc-input\" id=\"ndc-short-debt\" inputmode=\"decimal\" type=\"text\" value=\"$0.00\" aria-describedby=\"ndc-short-help ndc-short-error\"\u003e\n            \u003cspan class=\"ndc-unit-badge\" data-ndc-unit-badge\u003eUSD\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ndc-helper\" id=\"ndc-short-help\"\u003eBorrowings and current debt obligations generally due within one year.\u003c\/div\u003e\n          \u003cdiv class=\"ndc-error\" id=\"ndc-short-error\"\u003eEnter a valid amount of zero or more.\u003c\/div\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"ndc-field\" data-ndc-field=\"longDebt\"\u003e\n          \u003clabel class=\"ndc-label\" for=\"ndc-long-debt\"\u003eLong-term debt\u003c\/label\u003e\n          \u003cdiv class=\"ndc-input-wrap\"\u003e\n            \u003cinput class=\"ndc-input\" id=\"ndc-long-debt\" inputmode=\"decimal\" type=\"text\" value=\"$0.00\" aria-describedby=\"ndc-long-help ndc-long-error\"\u003e\n            \u003cspan class=\"ndc-unit-badge\" data-ndc-unit-badge\u003eUSD\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ndc-helper\" id=\"ndc-long-help\"\u003eDebt and lease obligations usually due more than one year from the reporting date.\u003c\/div\u003e\n          \u003cdiv class=\"ndc-error\" id=\"ndc-long-error\"\u003eEnter a valid amount of zero or more.\u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/div\u003e\n\n    \u003cdiv class=\"ndc-panel ndc-result-panel\"\u003e\n      \u003cdiv class=\"ndc-panel-title\"\u003e\n        \u003ch3\u003eLive results\u003c\/h3\u003e\n        \u003cspan class=\"ndc-panel-kicker\"\u003eUpdates as you type\u003c\/span\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"ndc-primary-result\"\u003e\n        \u003cdiv class=\"ndc-primary-label\"\u003eNet debt\u003c\/div\u003e\n        \u003cdiv class=\"ndc-primary-value\" data-ndc-net-debt\u003e$0.00\u003c\/div\u003e\n        \u003cdiv class=\"ndc-primary-status\" data-ndc-status\u003eDebt and cash are currently equal.\u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"ndc-result-grid\"\u003e\n        \u003cdiv class=\"ndc-result-card\"\u003e\n          \u003cdiv class=\"ndc-result-label\"\u003eTotal debt\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-value\" data-ndc-total-debt\u003e$0.00\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-note\"\u003eShort-term plus long-term debt\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ndc-result-card\"\u003e\n          \u003cdiv class=\"ndc-result-label\"\u003eCash coverage\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-value\" data-ndc-cash-coverage\u003e—\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-note\"\u003eCash divided by total debt\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ndc-result-card\"\u003e\n          \u003cdiv class=\"ndc-result-label\"\u003eDebt remaining\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-value\" data-ndc-debt-remaining\u003e$0.00\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-note\"\u003ePositive net debt only\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ndc-result-card\"\u003e\n          \u003cdiv class=\"ndc-result-label\"\u003eNet cash surplus\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-value\" data-ndc-net-cash\u003e$0.00\u003c\/div\u003e\n          \u003cdiv class=\"ndc-result-note\"\u003eCash above total debt\u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"ndc-live\" aria-live=\"polite\" data-ndc-live\u003e\u003c\/div\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"ndc-chart-card\" data-ndc-chart-card\u003e\n    \u003cdiv class=\"ndc-chart-header\"\u003e\n      \u003ch3\u003eGross debt composition\u003c\/h3\u003e\n      \u003cp class=\"ndc-chart-intro\" data-ndc-chart-intro\u003eEnter debt amounts to see the short-term and long-term mix.\u003c\/p\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"ndc-chart-cluster\" data-ndc-chart-cluster\u003e\n      \u003cdiv class=\"ndc-plot-wrap\" data-ndc-plot-wrap\u003e\n        \u003cdiv class=\"ndc-chart-empty\" data-ndc-chart-empty\u003eEnter debt values above to see the breakdown.\u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"ndc-legend-panel\" data-ndc-legend-panel hidden\u003e\n        \u003cdiv class=\"ndc-legend\" data-ndc-legend aria-label=\"Debt composition legend\"\u003e\u003c\/div\u003e\n        \u003cdiv class=\"ndc-chart-metrics\" data-ndc-chart-metrics\u003e\n          \u003cdiv class=\"ndc-chart-metric\"\u003e\n\u003cspan\u003eTotal debt\u003c\/span\u003e\u003cstrong data-ndc-chart-total\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"ndc-chart-metric\"\u003e\n\u003cspan\u003eCash available\u003c\/span\u003e\u003cstrong data-ndc-chart-cash\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"ndc-chart-metric\"\u003e\n\u003cspan\u003eNet debt\u003c\/span\u003e\u003cstrong data-ndc-chart-net\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"ndc-chart-callout\" data-ndc-chart-callout\u003eDebt composition will appear when total debt is greater than zero.\u003c\/div\u003e\n    \u003ctable class=\"ndc-chart-summary\" data-ndc-chart-summary\u003e\n      \u003ccaption\u003eAccessible debt composition summary\u003c\/caption\u003e\n      \u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eCategory\u003c\/th\u003e\n\u003cth\u003eAmount\u003c\/th\u003e\n\u003cth\u003eShare\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n      \u003ctbody data-ndc-chart-summary-body\u003e\u003c\/tbody\u003e\n    \u003c\/table\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"ndc-table-card\" data-ndc-table-card\u003e\n    \u003cdiv class=\"ndc-panel-title\"\u003e\n      \u003ch3\u003eCalculation detail\u003c\/h3\u003e\n      \u003cspan class=\"ndc-panel-kicker\"\u003eAll values use the selected amount scale\u003c\/span\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"ndc-table-overflow\" data-ndc-table-overflow\u003e\n      \u003ctable class=\"ndc-table\"\u003e\n        \u003cthead\u003e\n          \u003ctr\u003e\n\u003cth scope=\"col\"\u003eMetric\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eValue\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eInterpretation\u003c\/th\u003e\n\u003c\/tr\u003e\n        \u003c\/thead\u003e\n        \u003ctbody data-ndc-detail-body\u003e\u003c\/tbody\u003e\n      \u003c\/table\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"ndc-table-note\" data-ndc-table-note\u003eNet debt equals total debt minus cash and cash equivalents. A negative result is commonly described as a net cash position.\u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"ndc-education\"\u003e\n    \u003ch2\u003eHow to use and interpret the net debt calculator\u003c\/h2\u003e\n    \u003cp\u003eThis calculator estimates how much debt would remain after a company applied its cash and cash equivalents against short-term and long-term debt. It is a compact balance-sheet measure, not a complete solvency test. The result helps analysts separate gross borrowing from the portion that is economically offset by immediately available liquidity.\u003c\/p\u003e\n\n    \u003ch3\u003eWhat each input means\u003c\/h3\u003e\n    \u003cp\u003e\u003cstrong\u003eCash and cash equivalents\u003c\/strong\u003e should include cash on hand, demand deposits, and investments that are highly liquid, readily convertible to known amounts of cash, and subject to insignificant value risk. The definition is narrower than total current assets: inventory, trade receivables, and most restricted cash usually should not be included. The \u003ca href=\"https:\/\/www.ifrs.org\/issued-standards\/list-of-standards\/ias-7-statement-of-cash-flows\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eIAS 7 overview from the IFRS Foundation\u003c\/a\u003e provides useful context for cash-equivalent classification. A higher cash balance lowers net debt dollar for dollar. Entering an asset that cannot realistically be used to repay debt can make the result look stronger than it is.\u003c\/p\u003e\n    \u003cp\u003e\u003cstrong\u003eShort-term debt\u003c\/strong\u003e is the portion of interest-bearing debt normally due within the next twelve months. Typical items include short-term bank borrowings, commercial paper, current maturities of long-term loans, and the current portion of finance lease liabilities. Do not automatically use all current liabilities unless your analysis deliberately defines debt that broadly. Accounts payable, accrued payroll, and deferred revenue are operating liabilities and are often excluded from a financial-debt calculation.\u003c\/p\u003e\n    \u003cp\u003e\u003cstrong\u003eLong-term debt\u003c\/strong\u003e includes borrowings due beyond one year, such as bonds, term loans, notes payable, and long-term lease liabilities when they are part of the chosen definition. Use the carrying amounts from the same reporting date as the cash figure. Mixing quarter-end cash with year-end debt can create a misleading snapshot. Higher short- or long-term debt increases both total debt and net debt by the same amount.\u003c\/p\u003e\n    \u003cp\u003e\u003cstrong\u003eAmount scale\u003c\/strong\u003e changes how figures are displayed and entered. Choose Dollars for exact values, Thousands for abbreviated financial statements, or Millions for large public-company filings. Switching the scale converts the current inputs rather than merely relabeling them. For example, $5,000,000 becomes 5.00 when the Millions scale is selected. The underlying economic amount remains unchanged.\u003c\/p\u003e\n\n    \u003ch3\u003eHow the calculation works\u003c\/h3\u003e\n    \u003cdiv class=\"ndc-formula\"\u003eNet debt = Short-term debt + Long-term debt − Cash and cash equivalents\u003c\/div\u003e\n    \u003cp\u003eThe calculator first adds short-term and long-term debt to obtain total debt. It then subtracts cash and cash equivalents. Positive net debt means borrowings exceed available cash. Zero means cash exactly offsets debt. Negative net debt means cash exceeds total debt; the results panel presents the excess as a net cash surplus while retaining the negative net-debt figure.\u003c\/p\u003e\n    \u003cp\u003eFor reporting consistency, decide whether you are measuring all contractual debt or only interest-bearing financial debt before entering values. The same company can show different net debt figures under different definitions, particularly when leases, supplier financing, securitizations, or restricted cash are significant. The \u003ca href=\"https:\/\/www.investor.gov\/introduction-investing\/investing-basics\/glossary\/financial-statements\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eInvestor.gov financial statements guide\u003c\/a\u003e explains where balance-sheet amounts fit within a company’s broader financial reporting.\u003c\/p\u003e\n\n    \u003ch3\u003eUnderstanding every result\u003c\/h3\u003e\n    \u003cp\u003e\u003cstrong\u003eNet debt\u003c\/strong\u003e is the primary output. A large positive number indicates that substantial debt remains after cash is applied. A result near zero means gross debt is largely covered by liquid funds. A negative result indicates a net cash position, but it does not automatically mean the company is low-risk: cash may be trapped in subsidiaries, required for operations, restricted by regulation, or needed to fund near-term losses.\u003c\/p\u003e\n    \u003cp\u003e\u003cstrong\u003eTotal debt\u003c\/strong\u003e is the sum of the two debt inputs before any liquidity offset. It is useful for understanding gross contractual borrowing and for reconciling the calculation to a balance sheet. \u003cstrong\u003eCash coverage\u003c\/strong\u003e divides cash by total debt. A value of 40% means available cash equals 40% of gross debt. Coverage above 100% produces negative net debt. When total debt is zero, the ratio is shown as unavailable rather than dividing by zero.\u003c\/p\u003e\n    \u003cp\u003e\u003cstrong\u003eDebt remaining\u003c\/strong\u003e shows only the positive portion of net debt. It is zero when cash fully covers borrowings. \u003cstrong\u003eNet cash surplus\u003c\/strong\u003e shows only the excess cash when net debt is negative. These two companion metrics make it easier to read the economic position without losing the sign of the primary result.\u003c\/p\u003e\n    \u003cp\u003eThe \u003cstrong\u003egross debt composition chart\u003c\/strong\u003e shows how total debt is split between short-term and long-term amounts. A high short-term share can signal greater refinancing or liquidity pressure because more obligations mature soon. A high long-term share may reduce immediate refinancing needs, although interest rates, covenants, and maturity concentration still matter. The legend and hidden accessible data table use the same live values as the result model and Excel workbook.\u003c\/p\u003e\n    \u003cp\u003eThe \u003cstrong\u003ecalculation detail table\u003c\/strong\u003e provides a line-by-line reconciliation of cash, both debt categories, total debt, net debt, coverage, and any debt remaining or net cash surplus. Use it to confirm that all figures come from the same reporting period and to identify which input drives a change.\u003c\/p\u003e\n\n    \u003ch3\u003ePractical interpretation and common mistakes\u003c\/h3\u003e\n    \u003cp\u003eNet debt is most informative when reviewed over time and compared with earnings and cash generation. Analysts often pair it with EBITDA, operating cash flow, free cash flow, interest expense, and debt maturities. A rising net debt balance may be reasonable during an acquisition or investment cycle, but persistent increases without stronger operating performance can indicate deteriorating financial flexibility. Public-company source data can be checked in filings available through the \u003ca href=\"https:\/\/www.sec.gov\/edgar\/search\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSEC EDGAR search system\u003c\/a\u003e.\u003c\/p\u003e\n    \u003cul\u003e\n      \u003cli\u003eUse figures from one balance-sheet date and one currency.\u003c\/li\u003e\n      \u003cli\u003eDo not include receivables, inventory, or marketable securities that do not meet the cash-equivalent definition.\u003c\/li\u003e\n      \u003cli\u003eAvoid mixing all liabilities with interest-bearing debt unless that broader definition is intentional.\u003c\/li\u003e\n      \u003cli\u003eReview restricted cash, lease liabilities, supplier finance, and off-balance-sheet commitments separately.\u003c\/li\u003e\n      \u003cli\u003eDo not treat a negative net debt result as investment advice or as proof that a company can distribute all of its cash.\u003c\/li\u003e\n    \u003c\/ul\u003e\n    \u003cp\u003eThe Excel download captures the current scale, inputs, outputs, debt breakdown, and methodology notes in a real workbook. It is useful for audit trails, scenario comparisons, and adding company-specific ratios outside this calculator.\u003c\/p\u003e\n  \u003c\/section\u003e\n  \u003c\/div\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909481013491,"sku":"net-debt","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/net-debt.webp?v=1783935383","url":"https:\/\/financialmodelslab.com\/products\/net-debt","provider":"Financial Models Lab","version":"1.0","type":"link"}