Apple’s Balance Sheet Math: Does Apple Really Have $203 Billion In Usable Cash On Hand As Widely Reported?

Apple’s latest 10-Q quarterly filing shows that it has nearly $203 billion in cash or cash-equivalents.

10-Q Page 31

Current Assets

Diving into a more colorful Nasdaq Summation I made the following clips (highlights in yellow are mine). 

 Totaling actual cash, short-term investments, and over $168 billion in long-term investments, we arrive at the $202.848 billion number on the 10-Q.

Current Liabilities