Annual report 2007 - Magnitogorsk Iron & Steel Works ...

230
CONSOLIDATED BALANCE SHEETS (CONTINUED)
AS OF DECEMBER 31, 2007 AND 2006
(Amounts in millions of U.S. dollars)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Note
December 31,
2007 200
Bank overdrafts 9 2
Short-term borrowings and current portion of long-term debt 12 1,189 373
Current portion of long-term capital lease obligations 14 26 25
Accounts payable and accrued liabilities 15 673 545
Accounts payable to related parties 24 13 8
Current deferred income tax liabilities 21 11 11
Total current liabilities 1,921 964
Long-term debt, net of current portion 13 200 577
Long-term capital lease obligations, net of current portion 14 30 29
Employee benefit obligations 16 37 30
Long-term deferred income tax liabilities 21 283 50
Total liabilities 2,471 1,650
Commitments and contingencies 25,26 - -
Minority interest 22 87 12
Shareholders’ equity:
Common stock 17 386 363
Treasury stock, at cost 17 (1) (85)
Additional paid-in capital 17 1,105 254
Accumulated other comprehensive income 5 614 18
Retained earnings 4,720 3,477
Total shareholders’ equity 6,824 4,027
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 9,382 5,689