The financial statements of Louis Vuitton are presented in Appendix F. Instructions for accessing and using the company’s complete annual report, including the notes to its financial statements, are also provided in Appendix F.

Instructions

Use the company’s annual report to answer the following questions.

(a) According to the notes to the financial statements, what is the composition of long-term gross borrowings?

(b) According to the accounting policy note to the financial statements, how are borrowings measured?

(c) Determine the amount of fixed-rate and adjustable-rate (floating) borrowings (gross) that the company reports.

(d) Identify where non-current liabilities are reported on the company’s balance sheet.