Total liabilities are the sum of all current and noncurrent liabilities of a company. They are reported on the balance sheet as the total amount that the company owes to its creditors and suppliers. Total liabilities include items such as accounts payable, short-term loans, accrued expenses, current portion of long-term debt, and noncurrent liabilities. Total liabilities show the extent of a company’s indebtedness and its ability to meet its financial obligations.