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I learned Debt to Equity Ratio = Total Liabilities / Total Shareholders' Equity Then, the calculation of P&G's debt to equity ratio at the

I learned " Debt to Equity Ratio = Total Liabilities / Total Shareholders' Equity"

Then, the calculation of P&G's debt to equity ratio at the end of the fiscal year 2021 is as below (amounts in millions).

Debt to Equity Ratio = Total Liabilities / Total Shareholders' Equity

= $72,653 / $46,654

= 1.557272...

? 1.56

But many sites such as yahoo finance say the PG's D/E ratio is about 0.79.

I am confusing. please advise me.

image text in transcribedimage text in transcribed
2-6 TRIPLES Bounty 2021 Oral-B iO FAIRY Annual Tide PANTEN Pampers MyQuil SEVERE OLAY always Report 4 P&G40 The Procter & Gamble Company Consolidated Balance Sheets Amonnts in millions except stated values; As of June 30 2021 2020 m CURRENT ASSETS Cash and cash equivalents $ 10,288 $ 16,181 Accounts receivable 4,725 4,178 INVENTORIES Materials and supplies 1,645 1,414 Work in process 719 674 Finished goods 3,619 3,410 Total inventories 5,983 5,498 Prepaid expenses and other current assets 2,095 2,130 TOTAL CURRENT ASSETS 23,091 27,987 PROPERTY, PLANT AND EQUIPMENT, NET 21,686 20,692 GOODWILL 40,924 39,901 TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET 23,642 23,792 OTHER NONCURRENT ASSETS 9,964 8,328 TOTAL ASSETS $ 119,307 $ 120,700 Liabilities and Shareholders' Equity CURRENT LIABILITIES Accounts payable $ 13,720 S 12,071 Accrued and other liabilities 10,523 9,722 Debt due within one year 8,889 1 1,183 TOTAL CURRENT LIABILITIES 33,132 32,976 LONG-TERM DEBT 23,099 23,53 7 DEFERRED INCOME TAXES 6,153 6,199 OTHER NONCURRENT LIABILITIES 10,269 11,110 TOTAL LIABILITIES 72,653 73,822 SHAREHOLDERS' EQUITY Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) 870 897 Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2021 - 4,009.2, 2020 - 4,009.2) 4,009 4,009 Additional paid-in capital 64,848 64,194 Reserve for ESOP debt retirement (1,006) (1,080) Accumulated other comprehensive loss (13,744) (16,165) Treasury stock, at cost (shares held: 2021 - 1,579.5, 2020 - 1,529.5) (114,973) (105,573) Retained earnings 106,374 100,239 Noncontrolling interest 276 357 TOTAL SHAREHOLDERS? EQUITY 46,654 46,878 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY S 119,307 $ 120,700 See accompanying Notes to Consolidated Financial Statements

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