We're going to look for interest.

Now, both interest, income and expense, we're going to use Greg's as an example.

This is a fairly divisive uh, UK bakery and snack store.

Uh, lots of people love it.

Now what we'll do is we'll go into the annual report.

Again, it's got a bit more detail.

Now I'm looking for the contents, which is fairly small, but over here, if I'm looking for interest, it's probably going to be on the income statement.

Now, unfortunately that's not clickable, so I'm looking for page 1, 2, 8.

And if we scroll down, you can see the interest expense and the interest income, which they call finance is really nicely split out here.

There may be a number of items inside these lines that we're interested in, um, especially the interest expense.

We may want detail for that.

And so we will probably want to go to the footnote here.

Footnote six is very nicely signaled as it's A-I-F-R-S company that we're looking at.

It's not clickable and so I'll have to go looking for notes.

Six myself back to the contents page.

And you can see they're signaling the notes to the accounts on page 1, 3 4, and I'm hoping for a contents page of its own. There On page 1, 3 4, you can see the notes to the accounts and I'm scrolling around looking for a contents page of its own, but it doesn't have one.

And so we're now looking for the interest expense note within the notes ourselves.

I've just done a lot of scrolling with the video paused, and I did that to save a bit of time.

You can see here that we have a note and it's on page 1 4 9 to note six, and it splits out the finance expense.

That's very helpful. It's helpful because we may want to exclude some items like Forex from some metrics.

The note isn't particularly detailed about what debt is causing what interest if we go to the balance sheet, so back to the contents page.

Then over to the balance sheet on page 1, 2 9, you can see that they don't really have much long-term debt.

It doesn't say borrowings or anything of the sort.

This role is largely taken by leases in Greg's, so their lease note could be very detailed.

Let's have a look at Tesla's year end accounts.

We will avoid the amended and just go for the basic 10 K.

Let's find their contents page and then find their financial statements.

Tesla has quite a complex debt situation.

It uses high debt to fuel some of its ventures, such as its forays into energy.

It also uses a lot of debt as a kind of bank, running a leasing arm for its automotive business.

We've had a look at the interest in the financial statements.

Let's go and find the note back to the contents page of the financial statements themselves, and we're hoping that the notes have their own contents page, but they don't.

With this being a US cap company, we don't even know which note we're looking for, and so we're having to scroll quite carefully and look really carefully for the note, and we may in fact end up missing it.

I, in fact, did miss it and while I had the video paused, I just went back to note 10 debt.

You can see here that there's a really good breakdown of Tesla's debt.

Using this, it would be possible to get an impression of how Tesla's p and l interest breaks down into its diverse debt items.

So the footnotes give us a lot more detail depending on how important debt is to the company.