All borrowings are initially recorded at the amount of proceeds received, net of transaction costs. Borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Source: GlaxoSmithKline PLC, Annual Report
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GlaxoSmithKline PLC, Statement of Financial Position, Debt
USD $ in millions, translated from GBP £
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
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Short-term borrowings | |
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Long-term borrowings | |
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Total debt | |
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Source: Based on data from GlaxoSmithKline PLC, Annual Reports
| Item | Description | The company |
|---|---|---|
| Total debt | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | GlaxoSmithKline PLC's total debt declined from 2009 to 2010 and from 2010 to 2011. |
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