# Long-Term Debt

Debt obligations due more than 12 months out.

## Definition

Long-term debt is the portion of total debt that doesn't need to be repaid within the next 12 months. Includes bonds, term loans, and other borrowings with maturities greater than a year.

## Why it matters

Long-term debt represents the structural component of the company's leverage — what's been intentionally locked in, often at favourable rates. Sudden growth in long-term debt warrants explanation; rapid paydown often signals financial discipline.

## How Standard Equity uses it

Shown in the main table, with its 5- and 10-year growth rate.

## The metric

| Category | Balance Sheet |
| -------- | ------------- |
| Unit     | $M            |

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