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GuruFocus has detected 1 Warning Sign with Kohl's Corp $KSS.
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Kohl's Corp (NYSE:KSS)
Capital Lease Obligation
$1,685 Mil (As of Jan. 2017)

Kohl's Corp's long-term capital lease obligation for the quarter that ended in Jan. 2017 was $1,685 Mil.

Kohl's Corp's quarterly long-term capital lease obligation declined from Jul. 2016 ($1,709 Mil) to Oct. 2016 ($1,702 Mil) and declined from Oct. 2016 ($1,702 Mil) to Jan. 2017 ($1,685 Mil).

Kohl's Corp's annual long-term capital lease obligation declined from Jan. 2015 ($1,858 Mil) to Jan. 2016 ($1,789 Mil) and declined from Jan. 2016 ($1,789 Mil) to Jan. 2017 ($1,685 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 local exchange's currency.

Kohl's Corp Annual Data

Jan08Jan09Jan10Jan11Jan12Jan13Jan14Jan15Jan16Jan17
LongTermCapitalLeaseObligation 00002,0091,9561,9301,8581,7891,685

Kohl's Corp Quarterly Data

Oct14Jan15Apr15Jul15Oct15Jan16Apr16Jul16Oct16Jan17
LongTermCapitalLeaseObligation 1,8861,8581,8401,8211,8171,7891,7701,7091,7021,685
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