Long Term Liabilities

Long-term liabilities refer to a company's financial obligations that are not due for at least one year. These can include things like long-term loans, bonds, and leases. Long-term liabilities are reported on a company's balance sheet, separate from its short-term liabilities [Financial Accounting Standards Board].
Long-term liabilities are "money a company or organization has borrowed and has not yet paid back or things that they have agreed to pay for in the future" [Cambridge English Dictionary].
A long-term liability is an obligation resulting from a previous event that is not due within one year of the date of the balance sheet (or not due within the company's operating cycle if it is longer than one year). Long-term liabilities are also known as noncurrent liabilities. Some long-term debt that will be due within one year of the balance sheet date can continue to be reported as a long-term liability if there is a long-term investment that is sufficient and restricted for the payment of the debt or intent and a noncancelable arrangement that assures that the long-term debt will be replaced with new long-term debt or with capital stock [Accounting Coach].

Long-term liabilities are a company's financial obligations due more than one year in the future. The current portion of long-term debt is listed separately on the balance sheet to provide a more accurate view of a company's current liquidity and ability to pay current liabilities as they become due. Long-term liabilities are also called long-term debt or noncurrent liabilities [Investopedia].

Sources:

Financial Accounting Standards Board (FASB). (2018). Concepts Statement No. 6: Elements of Financial Statements. Cambridge English Dictionary. (2021). Long-term liability. Retrieved from:https://dictionary.cambridge.org/dictionary/english/long-term-liabil

Accounting Coach. (2021). What is a long-term liability? Retrieved from: https://www.accountingcoach.com/blog/what-is-a-long-term-liability

Investopedia. (2021). Long-term Liabilities. Retrieved from: https://www.investopedia.com/terms/l/longtermliabilities.asp