K & MM Abbreviation Explained: K denotes Thousand while MM stands for Million

This post is part of a series sponsored by Old Republic Surety.

If you find yourself puzzled by the letter designations representing thousands and millions, you’re not alone. It’s a common source of confusion and one of the top questions we receive. Let’s explore the origins of these abbreviations and how to navigate through them with ease.

Unraveling the mm Abbreviation

The influence of Greek and Roman traditions has left a mark on many aspects of our culture, including financial analysis. The Roman tradition has led us to abbreviate thousands as M and millions as MM, with M being the Roman numeral for thousand and MM representing one thousand-thousand or a million. However, in true Roman interpretation, MM technically means two thousand, and MMM means three thousand, highlighting the imperfections in this tradition.

Understanding the K Abbreviation

K, standing for thousand, stems from the Greek word kilo, which means a thousand. But when it comes to billion, we often see it abbreviated as B. The lack of consistency between Greek and Roman influences can lead to confusion in interpreting financial figures.

While some style guides recommend using figures for numbers less than a million and spelling out million, billion, and trillion for larger numbers, the use of M for millions and B for billions in headlines is also common practice.

When dealing with surety bond rates or contractor lines of authority, the use of M for thousands and MM for millions is standard. Understanding these abbreviations can help agents and contractors navigate financial communications efficiently.

Still Confused? We’re Here to Assist

At Old Republic Surety, we value transparency and clarity in our communications. If you encounter confusing abbreviations, don’t hesitate to reach out to us for clarification. Whether you’re a seasoned professional or just starting out, we’re here to help make sense of financial abbreviations.

This blog was originally published on the Old Republic Surety website. It is reproduced here with permission.