Costco Wholesale's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2024 was $2,488 Mil.
Costco Wholesale's quarterly Long-Term Capital Lease Obligation
declined
from Aug. 2023 ($2,426 Mil) to Nov. 2023 ($2,401 Mil) but then
increased
from Nov. 2023 ($2,401 Mil) to Feb. 2024 ($2,488 Mil).
Costco Wholesale's annual Long-Term Capital Lease Obligation
declined
from Aug. 2021 ($2,642 Mil) to Aug. 2022 ($2,482 Mil) and
declined
from Aug. 2022 ($2,482 Mil) to Aug. 2023 ($2,426 Mil).
Costco Wholesale Long-Term Capital Lease Obligation Historical Data
The historical data trend for Costco Wholesale's Long-Term Capital Lease Obligation can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Costco Wholesale (NAS:COST) Long-Term Capital Lease Obligation Explanation
Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.
Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:
1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.
Costco Wholesale Long-Term Capital Lease Obligation Related Terms
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Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices. The firm avoids maintaining costly product displays by keeping inventory on pallets and limits distribution expenses by storing its inventory at point of sale in the warehouse. Given Costco's frugal cost structure, the firm is able to price its merchandise below competing retailers, driving high sales volume per warehouse and allowing the retailer to generate strong profits on thin margins. Costco operates nearly 600 warehouses in the United States and boasts over 60% market share in the domestic warehouse club industry. Internationally, Costco operates another 270 warehouses, primarily in markets such as Canada, Mexico, Japan, and the U.K.
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