REC Silicon Annual Report 2019

REC Silicon Annual Report 2019 104 Net Debt Net debt is the carrying value of interest-bearing debt instruments less cash and cash equivalents. The carrying value of debt can be found in note 17 Borrowings in the table under the caption carrying amount and cash can be found in the statement of financial position on the line titled cash and cash equivalents. At December 31, 2019, net debt was USD 150.6million or USD 131.4million carrying value of the Company’s debt (from note 17 Borrowings) plus 48.6million current and non-current lease liabilities (from the statement of financial position) less USD 29.4million in cash in cash equivalents. At December 31, 2018, net debt was USD 99.4million or USD 131.3million carrying value of the Company’s debt (from note 17 Borrowings) less USD 31.8million in cash in cash equivalents. Nominal Net Debt Nominal Net debt is the contractual repayment values of interest-bearing debt instruments (excluding interest) less cash and cash equivalents. The contractual repayment values of debt can be found in note 17 Borrowings in the table under the caption contractual repayments including interest and cash can be found in the statement of financial position on the line titled cash and cash equivalents. At December 31, 2019, nominal net debt was USD 152.0million or USD 132.8million contractual repayment values of the Company’s debt plus 48.6million current and non-current lease liabilities (from the statement of financial position) less USD 29.4million in cash in cash equivalents. At December 31, 2018, nominal net debt was USD 101.2million or USD 133.0million contractual repayment values of the Company’s debt less USD 31.8million in cash in cash equivalents.