[Python] Understanding bitwise NOT in python

I was trying to understand bitwise NOT in python.

I tried following:

print('{:b}'.format(~ 0b0101))
print(~ 0b0101)


The output is

-110
-6


I tried to understand the output as follows:

Bitwise negating 0101 gives 1010. With 1 in most significant bit, python interprets it as a negative number in 2's complement form and to get back corresponding decimal it further takes 2's complement of 1010 as follows:

1010
0101 (negating)
0110 (adding 1 to get final value)


So it prints it as -110 which is equivalent to -6.

Am I right with this interpretation?

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