An asset that is not a current asset; typically, it has a long-term life and nature which makes it able to produce its economic benefits over the span of more than an accounting period. Examples of non-current assets include investments in other businesses, intellectual property (e.g., patents), and property, plant and equipment (PPE). By nature, the full value of non-current assets cannot be realized in a normal operating cycle. These assets are also not primarily held for the purpose of trading.

Given this specific nature, cash and cash equivalent assets cannot be classified as non-current assets, unless their use is restricted: they cannot be exchanged or used to settle a liability for 12 months or more after the reporting period.

Non-current assets are also known as long-term assets.