Magna International (Magna International) Long-Term Capital Lease Obligation

: $1,319 Mil (As of Dec. 2023)

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Magna International's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $1,319 Mil.

Magna International's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($1,345 Mil) to Sep. 2023 ($1,289 Mil) but then increased from Sep. 2023 ($1,289 Mil) to Dec. 2023 ($1,319 Mil).

Magna International's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($1,406 Mil) to Dec. 2022 ($1,288 Mil) but then increased from Dec. 2022 ($1,288 Mil) to Dec. 2023 ($1,319 Mil).

Magna International Long-Term Capital Lease Obligation Historical Data

The historical data trend for Magna International'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.

* Premium members only.

Magna International Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

1,602.00

1,656.00

1,406.00

1,288.00

1,319.00

Magna International Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation																1,288.00	1,318.00	1,345.00	1,289.00	1,319.00

Magna International (NYSE:MGA) 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.

Magna International Long-Term Capital Lease Obligation Related Terms

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Magna International (Magna International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Magna International Inc (NYSE:MGA) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

MGA N:Mexico MGA:Germany MGA:Germany MG:Canada

Address

337 Magna Drive, Aurora, ON, CAN, L4G 7K1

Website

https://www.magna.com

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2022, roughly 50% of Magna's revenue came from North America while Europe accounted for approximately 38%.