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What does current portion of long-term debt mean?

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current portion of long-term debt
(CPLTD)
Noun

A current liability and balance sheet account showing the aggregate principal amount of a firm’s total long-term debt (e.g., term loans, bonds and notes, finance leases and mortgages) that is due to be retired during the following accounting period.

Synonym(s): 
  • current maturities; current maturities of long-term debt.
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