ArcelorMittal , headquartered in Luxembourg, is the largest steel producer in the world. It reports.

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…………. $ 2,037Long-term debt, net of current portion ………… 19,292Short-term debt and current portion of long-term debt ….. 6,716Long-term provisions ……………… 1,738Property, plant, and equipment …………… 54,344Trade accounts payable and other ………….. 13,256Deferred employee benefits …………… 7,180Total noncurrent liabilities …………….. ?Trade accounts receivable …………….. 5,725Short-term provisions ……………… 1,343Other long-term obligations …………… 1,865Total current liabilities …………….. 30,723Inventories ………………….. 19,583Deferred tax liabilities …………….. 4,006Accrued expenses and other liabilities ……….. 6,900Income tax liabilities ………………. 471Total liabilities………………….. 64,804Prepare 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.View Solution:
ArcelorMittal headquartered in Luxembourg is the largest steel producer