NOTE 11 – OTHER DEFERRED CREDITS AND OTHER LIABILITIES

The following other deferred credits and other liabilities are reflected on our consolidated statements of financial position (dollars in thousands):


	March 31,		December 31,
	2020		2019
Transmission easements	$	20,235	$	20,549
Operating lease liabilities - noncurrent		1,921		1,846
Contract liabilities (unearned revenue) - noncurrent		4,123		4,217
Customer deposits		2,251		3,015
Financial liabilities - reclamation		12,070		12,091
Other		13,795		14,681
Total other deferred credits and other liabilities	$	54,395	$	56,399

In 2015, we renewed transmission right of way easements on tribal nation lands where certain of our electric transmission lines are located. $31.2 million will be paid by us for these easements from 2020 through the individual easement terms ending between 2036 and 2040. The present values for the remaining easement payments were $20.2 and $20.5 million as of March 31, 2020 and December 31, 2019, respectively, which are recorded as other deferred credits and other liabilities.

A lease liability represents a lessee’s obligation to make lease payments over the lease term. The long-term portion of our lease liabilities are included in other deferred credits and other liabilities and the current portion of our lease liabilities are included in current liabilities. See Note 15 – Leases.

A contract liability represents an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration from the customer. We have received deposits from others and these deposits are reflected in contract liabilities (unearned revenue) until recognized in other operating revenues over the life of the agreement. We have received deposits from various parties and those that may still be required to be returned are a liability and these are reflected in customer deposits.