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Trying to educate myself, I was peering at a balance sheet today when I saw the term "other long-term liabilities." Clicking on the term brought up this definition, explaining what they are not:
Other Long Term Liab.
Represent all other liabilities of the company besides current liabilities, long term debt, provision for risk and charges and deferred taxes.
So what ARE long-term liabilities?
Lindsay
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Greetings Lindsay,
From http://www.investopedia.com/terms/o/otherlongtermliabilities.asp :
"A balance sheet item that includes obligations that do not currently require interest payments. " is the meaning while, "This would include items such as remaining leases, future employee benefits and deferred taxes. " is what Investopedia says.
Meanwhile, Encarta defines it this way:"accounting accounting category for ongoing business expenses: financial obligations that become due for repayment more than one year after a set of accounts is drawn up and that do not involve interest payments"
HTH,
JB
