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J&J Snack Foods Corp (NAS:JJSF)
Long-Term Capital Lease Obligation
$0.4 Mil (As of Jun. 2014)

J&J Snack Foods Corp's long-term capital lease obligation for the quarter that ended in Jun. 2014 was $0.4 Mil.

J&J Snack Foods Corp's quarterly long-term capital lease obligation declined from Dec. 2013 ($0.5 Mil) to Mar. 2014 ($0.4 Mil) and declined from Mar. 2014 ($0.4 Mil) to Jun. 2014 ($0.4 Mil).

J&J Snack Foods Corp's annual long-term capital lease obligation declined from Sep. 2011 ($0.5 Mil) to Sep. 2012 ($0.3 Mil) and declined from Sep. 2012 ($0.3 Mil) to Sep. 2013 ($0.1 Mil).


Definition

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.


Explanation

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.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

J&J Snack Foods Corp Annual Data

Sep04Sep05Sep06Sep07Sep08Sep09Sep10Sep11Sep12Sep13
LongTermCapitalLeaseObligation 0.00.00.00.50.40.30.60.50.30.1

J&J Snack Foods Corp Quarterly Data

Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14
LongTermCapitalLeaseObligation 0.40.30.30.30.20.20.10.50.40.4
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