Precision Drilling (Precision Drilling) Long-Term Capital Lease Obligation : $43 Mil (As of Dec. 2023)

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What is Precision Drilling Long-Term Capital Lease Obligation?

Precision Drilling's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $43 Mil.

Precision Drilling's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 ($40 Mil) to Sep. 2023 ($41 Mil) and increased from Sep. 2023 ($41 Mil) to Dec. 2023 ($43 Mil).

Precision Drilling's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($36 Mil) to Dec. 2022 ($39 Mil) and increased from Dec. 2022 ($39 Mil) to Dec. 2023 ($43 Mil).

Precision Drilling Long-Term Capital Lease Obligation Historical Data

The historical data trend for Precision Drilling'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.

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Precision Drilling Long-Term Capital Lease Obligation Chart

Precision Drilling Annual Data

Trend

Dec14

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Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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41.75

38.16

35.80

39.00

42.58

Precision Drilling 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	Get a 7-Day Free Trial															39.00	38.33	40.23	40.75	42.58

Precision Drilling (NYSE:PDS) 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.

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Precision Drilling (Precision Drilling) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Precision Drilling Corp (NYSE:PDS) » Definitions » Long-Term Capital Lease Obligation

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PD:Canada

Address

150 6th Avenue SW, Suite 4200, Calgary, AB, CAN, T2P3Y7

Website

https://www.precisiondrilling.com

Precision Drilling Corpd is a provider of contract drilling and completion and production services to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. Contract Drilling Services include drilling rigs, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services include service rigs, oilfield equipment rental, and camp and catering services.