NON-GAAP FINANCIAL MEASURESDevon believes that using net debt for the calculation of “net debt to adjusted capitalization” provides a better measure than using debt. Devon defines net debt as debt less cash, cash equivalents and short-term investments. Devon believes that netting these sources of cash against debt provides a clearer picture of the future demands on cash to repay debt.
|RECONCILIATION TO GAAP INFORMATION|
|Total debt (GAAP)||$||11,644||$||9,780|
|Cash and short-term investments||6,980||7,058|
|Net debt (Non-GAAP)||$||4,664||$||2,722|
|Total capitalization (GAAP)||$||32,922||$||31,210|
|Adjusted capitalization (Non-GAAP)||$||25,942||$||24,152|