Which of the following is considered a "debt-like" item that could be added to enterprise value?

Operating leases are considered a "debt-like" item that can be added to enterprise value because they represent a significant future financial obligation that a company is committed to under lease agreements. Even though operating leases are not recorded as debt on the balance sheet, they obligate a company to make future cash payments, much like traditional debt.

This financial commitment affects the company’s cash flow and risk profile similarly to how debt does, therefore, it is prudent to incorporate the present value of future lease obligations into the enterprise value calculation. By doing so, analysts gain a more accurate representation of the total capital structure and the economic reality of the company’s financial liabilities.

In contrast, cash equivalents and short-term investments are assets that contribute positively to the enterprise value rather than liabilities. Retained earnings, while important for evaluating a company's profitability and growth potential, do not represent a liability and are not typically added to enterprise value in the same manner as debt-like items.