Some help figuring out which are non-operating liabilities.

I'm looking through the notes of a company on Payables and Accrued Charges, and trying to separate the operating liabilities from the non-operating ones, but am having a hard time with a few. I'd appreciate any help I can get, here.

The accounts:

Trade accounts
Income taxes
Accrued compensation
Deferred revenue
Dividends
Accrued interest
Other taxes
Current portion of asset retirement obligations and accrued environmental costs
Accrued deferred share units
Current portion of pension and other post-retirement benefits
Other payable and other accrued charges

I'm fairly sure that dividends and accrued interest are considered non-operating? I excluded Income Taxes Receivable from Operating Current Assets, was that a mistake? I'm thinking I should add that back because Income taxes are considered operating liabilities. By that rationale, I should keep other taxes in operating liabilities.

I'm not sure about the AROs, accrued deferred shares, pension and other payables. Any help here would be great.

Comments (4)

Nov 11, 2012

I think the following should be non-operating liabilities: Income Taxes, Dividends, Accrued Interest, Other Taxes, as well as Current portion of asset retirement obligations and accrued environmental costs, Accrued deferred share units and Current portion of pension and other post-retirement benefits. I'm unsure about the last one.

Nov 11, 2012
Matrick:

I think the following should be non-operating liabilities: Income Taxes, Dividends, Accrued Interest, Other Taxes, as well as Current portion of asset retirement obligations and accrued environmental costs, Accrued deferred share units and Current portion of pension and other post-retirement benefits. I'm unsure about the last one.

Thanks for the reply.

I've been going through Valuation: Measuring and Managing the Value of Companies, and the author mentions that "Operating current liabilities include those liabilities that are related to the ongoing operations of the firm. The most common operating liabilities are those related to suppliers (accounts payable), employees (accrued salaries), customers (deferred revenue), and the government (income taxes payable.)"

So, I'm not so sure that Income Taxes are a non-operating liability. And I think that makes sense, considering the company is potentially liable for every dollar it makes.

Nov 11, 2012

I think the following should be non-operating liabilities: Income Taxes, Dividends, Accrued Interest, Other Taxes, as well as Current portion of asset retirement obligations and accrued environmental costs, Accrued deferred share units and Current portion of pension and other post-retirement benefits. I'm unsure about the last one.

Nov 11, 2012
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