current liabilities
Definition
A balance sheet item which equals the sum of all money owed by a company and due within one
year. also called payables or current debt.
Related Terms
current assets, cash asset ratio, cash ratio, net liquid assets, net quick assets, quick ratio, working
capital
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Current Liabilities - Other - Total
Mnemonic
Periodicity
Format
Units
LCO
Annual
Number
Millions
LCOQ
Quarterly
Number
Millions
U.S. and Canadian GAAP Definition
This item is a residual item representing those current liabilities that are not debt, trade accounts payable, or income taxes
payable.
This item is a component of Current Liabilities – Total (LCT).
This item is the sum of:
1.
Accrued Expense (XACC)
2.
Current Liabilities – Other – (Sundry) (LCOX)
This item includes:
1.
Accounts payable due to parents and consolidated subsidiaries
2.
Accrued expenses
3.
Advances
4.
Assets of discontinued operations included in current liabilities
5.
Billings in excess of cost
6.
Contracts payable
7.
Customer deposits
8.
Deferred income taxes payable
1
9.
Dividends declared
10.
Due to factor
11.
Estimated claims and other liabilities under Chapter XI
12.
Interest in default
13.
Loss and damage claims
14.
Other accounts payable
15.
Preferred stock sinking fund
16.
Redeemable preferred stock – current portion
17.
Reserves
18.
Traveler's checks
19.
Broadcasting companies' film contracts and rights payable
20.
Race track companies' unredeemed pari-mutuel tickets
21.
Retailing companies' unredeemed gift certificates
This item excludes accounts payable to unconsolidated subsidiaries, included in Accounts Payable.
This item is the sum of:
1.
Accrued Expense (XACC)
2.
Current Liabilities – Other – Sundry (LCOX)
This item is not available for banks or utility companies.
International Normalized Definition
Industrial Definition
This item is a residual item representing those current liabilities that are not debt or trade accounts payable.
This item is a component of Current Liabilities – Total (LCT).
This item is the sum of:
1.
Accounts Payable – Other (APO)
2.
Accrued Expense (XACC)
3.
Current Liabilities – Other – Sundry (LCOX)
4.
Income Taxes Payable (TXP)
5.
Proposed Dividends (PRODV)
Interim Values For more information on quarterly, semiannual and year-to-date data, see Interim Data.
Current Liabilities - Total
Mnemonic
Periodicity
Format
Units
LCT
Annual
Number
Millions
LCTQ
Quarterly
Number
Millions
U.S. and Canadian GAAP Definition
This item represents liabilities due within one year, including the current portion of long-term debt.
This item is the sum of:
1.
Accounts Payable (AP)
2.
Current Liabilities – Other – Total (LCO)
3.
Debt in Current Liabilities (DLC)
4.
Income Taxes Payable (TXP)
This item is not available for banks.
This item is the sum of:
2
1.
Accounts Payable (AP)
2.
Current Liabilities – Other – Total (LCO)
3.
Debt in Current Liabilities (DLC)
4.
Income Taxes Payable (TXP)
International Normalized Definition
Industrial Definition
This item represents debt and other liabilities due within one year.
This item is a component of Liabilities – Total (LT).
This item is the sum of:
1.
Accounts Payable (AP)
2.
Current Liabilities – Other – Total (LCO)
3.
Debt in Current Liabilities (DLC)
This item includes the current portion of long-term debt.
Interim Values For more information on quarterly, semiannual and year-to-date data, see Interim Data.
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