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JC Penney Co Inc's long-term capital lease obligation for the quarter that ended in Apr. 2016 was $7 Mil.
JC Penney Co Inc's quarterly long-term capital lease obligation declined from Oct. 2015 ($14 Mil) to Jan. 2016 ($0 Mil) but then increased from Jan. 2016 ($0 Mil) to Apr. 2016 ($7 Mil).
Capital lease obligations 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 current portion of a capital lease obligation is the portion of a long-term capital lease 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;
JC Penney Co Inc Annual Data
JC Penney Co Inc Quarterly Data