What are Other Current Liabilities?

Other current liabilities are the residual liabilities of an organization that are not classified within one of the other current liability accounts. It is a line item in the balance sheet, in which is aggregated several current liability accounts that are too minor to report separately. It is typically the last line item stated within the current liabilities section of the balance sheet. A sample presentation of this line item appears in the following balance sheet exhibit.

The contents of this line item may be explained in more detail in the accompanying footnotes.