Harbour Company disclosed estimated product warranty payable for comparative years as follows:
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Business, 23.04.2020 20:43 Blackhawk1881
Harbour Company disclosed estimated product warranty payable for comparative years as follows:
(in millions)
Current Year Prior Year
Current estimated product warranty payable $14,349 $13,757
Noncurrent estimated product warranty payable 8,728 7,692
Total $23,077 $21,449
Assume that Harbour's sales were $169,232 million in current Year and that the total paid on warranty claims during the current year was $14,793 million.
Why are short, and long-term estimated warranty liabilities separately disclosed?
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