A long-term lease liability would appear on the balance sheet as

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When a company enters into a lease agreement that is classified as a finance lease (or capital lease under previous accounting standards), it must recognize a liability for the obligation to make lease payments. This liability reflects the present value of the lease payments that the company is required to make over the term of the lease, excluding the portion that is due within the next twelve months, which is classified as a current liability. The long-term portion of the lease liability is recorded under long-term liabilities on the balance sheet. This reflects the company's obligation to make lease payments beyond the next twelve months.

A Long-Term Lease Liability Would Appear on the Balance Sheet