Current portion of long-term debt Obj. 1 PepsiCo, Inc. (PEP) reported the following information about its long-term debt in the notes to a recent financial statement (in millions):

Long-term debt consists of the following:

December 31 Current Year Prior Year Total long-term debt $27,917 $26,557 Current portion (4,096) (2,224)

Long-term debt $23,821 $24,333

a. How much of the long-term debt was disclosed as a current liability on the current year’s December 31 balance sheet?

b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt?

c. If PepsiCo did not issue additional long-term debt next year, what would be the total long-

term debt on December 31 of the upcoming year?

AppendixLO1