The D/E ratio compares a company's debt position to its equity position. The calculation for this ratio is total debt divided by total equity. The long-term debt to capitalization ratio (one of several capitalization ratios) compares long-term debt to the capital structure of a company, which is represented by long-term debt and total shareholder equity. The calculation for the long-term capitalization ratio is long-term debt divided by the total of long-term debt and shareholder equity.