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The actual circuit on the top shows a two-wire transmission line of length d, connecting a voltage source V-tilde sub g and impedance Z sub g to a load impedance, Z sub L. The line has terminals A and A-prime near the generator end where d equals l, and terminals C and C-prime near the load where d equals 0. Two more terminals, B and B-prime are located in the middle. The wave impedance from A to B is Z of d, while the same from B to C is Z sub 0.

The equivalent circuit on the bottom shows the segment of the line to the right of B B-prime replaced with a discrete impedance, Z of d which is equal to the wave impedance.