Money the company sets aside for obligations that are certain or likely to come, but whose exact size is still open — pensions, litigation, warranties.
MoatLens tip: They do not sit under "debt", yet they often behave like it: sooner or later real money flows out. Pension promises in particular can drag on a company for decades. It becomes notable when provisions are released in weak years and prop up the profit — the profit then comes from the accounting department, not from the business.
In MoatLens this explanation sits right next to the number — one tap away. And you see the ten-year trend instead of a single value.
