# Long-Term Financial Obligations

**IRI:** https://folio.openlegalstandard.org/ReM22WXGr33eO4jZitHsbw

## Labels

**Preferred Label:** Long-Term Liability

## Definition

Long-Term Financial Obligations, also known as Long-term Liabilities, are debts or obligations that are due more than one year from the present date. These can include long-term loans, bonds payable, lease obligations, and pension liabilities, and they are recorded on a company's balance sheet under non-current liabilities.

## Sub Class Of

- https://folio.openlegalstandard.org/R9ce0e5pb4hAULGEtqlBCV8

## Parent Class Of

- https://folio.openlegalstandard.org/RDMUsjTZ7MYlmJzfXob9Rfi
- https://folio.openlegalstandard.org/Rp6HTY7PCoNlY1Qqy1z33m

**Comment:** Stemmed from Bankruptcy Project

**Deprecated:** False