List of Most Indebted Companies

Most of these are the usual suspects in capital-intensive industries (energy, transportation, telecommunications), but a few of these are taking their place due to acquisitions.

While the headline numbers are eyebrow raising, we also need to consider the fact that these companies are able to have that much debt because they generate cash flow to service said debt.

It'd be more interesting to look at debt as a multiple of the company's underlying cash flow; like debt-to-EBITDA or something.

Well for automotive companies, that debt is mostly car leases. Leases are secured by car which owner pays for regularly. So that debt is making money and the bigger the debt, the more money you make. It only looks scary on the surface.

Terrible article. For one, how do they even define debt?

Long term debt only? All liabilities?

What about leases? Or accounts payable? Financial instruments that are currently in the money but may require the company to shell out millions?