Question

ArcelorMittal , headquartered in Luxembourg, is the largest steel producer in the world. It reports using IFRS. Following are items from the company’s December 31, 2010, balance sheet (in millions of U.S. dollars):
Liabilities held for sale and distribution............. $ 2,037
Long-term debt, net of current portion ............ 19,292
Short-term debt and current portion of long-term debt ..... 6,716
Long-term provisions .................. 1,738
Property, plant, and equipment ............... 54,344
Trade accounts payable and other .............. 13,256
Deferred employee benefits ............... 7,180
Total noncurrent liabilities ................. ?
Trade accounts receivable ................. 5,725
Short-term provisions .................. 1,343
Other long-term obligations ............... 1,865
Total current liabilities ................. 30,723
Inventories ....................... 19,583
Deferred tax liabilities ................. 4,006
Accrued expenses and other liabilities ........... 6,900
Income tax liabilities ................... 471
Total liabilities....................... 64,804
Prepare the liabilities section of ArcelorMittal’s balance sheet. Classify liabilities into current and noncurrent portions. Omit items that are not liabilities. Include the appropriate number for total noncurrent liabilities.



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  • CreatedFebruary 20, 2015
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