Fundamental Glossary / Financial Statements
Non-Current Liabilities
Obligations due after twelve months.
Formula
Long-term borrowings, lease liabilities, deferred tax, and long-term provisions.
What it means
Non-current liabilities fund long-lived assets so that the repayment matches the life of the asset. That matching is the point of term debt.
Deferred tax and pension-style provisions are not bank debt. They should not be thrown into a debt-to-EBITDA ratio without a reason.
How to read it
Look at the maturity ladder. A "long-term" label with a wall of repayments in year two is a refinancing story. Staggered maturities are safer.
What to watch
Covenant breaches can make long-term debt current. If the notes mention a waiver, the non-current label depends on the lender's patience.
This note explains the term. It is not a research recommendation, a target price, or a comment on any security. Ratios and regulatory thresholds change; use the latest filing or circular for a live figure.