A past exit price for a liability is the price (exit price) that an entity paid or would have paid some time back (in the past) for extinguishing a liability, plus or, irrespective of, the prices/ costs it incurred or would have incurred for related goods or services (extinguishing or transfer costs). Examples of these costs include late payment fees. In either case, with or without consideration of these related prices or costs, the past exit value, for a liability, is known as past settlement value or past settlement amount.