>> Microsoft has a AAA balance sheet. <<I'm a bit confused by their balance sheet.Debt increased $6 Billion to $12b in the past 2 years (from FY 2010 to FY 2012). Additionally, they just borrowed another $2b which means (at great rates mind you, but at minimum it offsets $2b in cash). So an $8b increase in debt while they are buying back shares and making $1.2b acquisitions?Microsoft is obviously capable of paying that off, but it seems odd to me that they are increasing debt so much.
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