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Description of problem:
I checked my kerberos credentials on RHEL7 and klist claim that expiration date of the ticket is in the past. See the following output from klist:

[root@dhcp-24-117 bz747239-quota_nld-and-similar]# klist
Ticket cache: FILE:/tmp/krb5cc_0
Default principal: mtruneck

Valid starting     Expires            Service principal
06/04/12 08:56:13  05/31/12 15:13:58  krbtgt/REDHAT.COM
	renew until 06/04/12 08:56:13


Version-Release number of selected component (if applicable):

[root@dhcp-24-117 bz747239-quota_nld-and-similar]# rpm -qa krb5\*
krb5-libs-1.10-6.el7.x86_64
krb5-workstation-1.10-6.el7.x86_64


How reproducible:

Steps to Reproduce:
1. Authenticate with kerberos (kinit)
2. Run klist
  
Actual results:
Expiration date is in the past

Expected results:
Expiration date is in the future

Additional info:

This is the same output on RHEL6.3:
[mtrunecka@dhcp-24-198 ~]$ klist
Ticket cache: FILE:/tmp/krb5cc_501
Default principal: mtruneck

Valid starting     Expires            Service principal
06/04/12 08:12:21  06/04/12 18:12:21  krbtgt/REDHAT.COM
	renew until 06/04/12 08:12:21

Please attach or paste in the contents of your /etc/krb5.conf file, so that we can be sure we're using the same settings that you are.

Here is my /etc/krb5.confL

[root@dhcp-24-117 ~]# cat /etc/krb5.conf 
[logging]
 default = FILE:/var/log/krb5libs.log
 kdc = FILE:/var/log/krb5kdc.log
 admin_server = FILE:/var/log/kadmind.log

[libdefaults]
 dns_lookup_realm = false
 ticket_lifetime = 24h
 renew_lifetime = 7d
 forwardable = true
# default_realm = EXAMPLE.COM

 default_realm = REDHAT.COM
 dns_lookup_kdc = false
[realms]
# EXAMPLE.COM = {
#  kdc = kerberos.example.com
#  admin_server = kerberos.example.com
# }

 REDHAT.COM = {
  kdc = kerberos.corp.redhat.com
  admin_server = kerberos.corp.redhat.com
 }

[domain_realm]
# .example.com = EXAMPLE.COM
# example.com = EXAMPLE.COM
 redhat.com = REDHAT.COM
 .redhat.com = REDHAT.COM

Even with the same binaries and configuration, I couldn't reproduce this.  Are you certain that the date is correctly set on your client?

Yes, that's it, I had wrong time. It was virutal machine and it didn't synchronize the time. I'm sorry for this unneccessary bug report.