Smith-Midland (Smith-Midland) Long-Term Capital Lease Obligation : $0.01 Mil (As of Sep. 2023)

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What is Smith-Midland Long-Term Capital Lease Obligation?

Smith-Midland's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $0.01 Mil.

Smith-Midland's quarterly Long-Term Capital Lease Obligation declined from Mar. 2023 ($0.03 Mil) to Jun. 2023 ($0.02 Mil) and declined from Jun. 2023 ($0.02 Mil) to Sep. 2023 ($0.01 Mil).

Smith-Midland's annual Long-Term Capital Lease Obligation declined from Dec. 2020 ($0.21 Mil) to Dec. 2021 ($0.12 Mil) and declined from Dec. 2021 ($0.12 Mil) to Dec. 2022 ($0.05 Mil).

Smith-Midland Long-Term Capital Lease Obligation Historical Data

The historical data trend for Smith-Midland'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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Smith-Midland Long-Term Capital Lease Obligation Chart

Smith-Midland Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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0.30

0.21

0.12

0.05

Smith-Midland Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.06	0.05	0.03	0.02	0.01

Smith-Midland (NAS:SMID) 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.

Smith-Midland Long-Term Capital Lease Obligation Related Terms

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Smith-Midland (Smith-Midland) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » Smith-Midland Corp (NAS:SMID) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

5119 Catlett Road, P.O. Box 300, Midland, VA, USA, 22728

Website

https://www.smithmidland.com

Smith-Midland Corp through its subsidiaries invents, develops, manufactures, markets sells and installs precast concrete products for primary use in the construction, highway, utilities and farming industries. The firm's customers are general contractors and federal, state and local transportation authorities. Its products include Slenderwall, JJhooks, Softsound, Sierra wall and Easi set. A substantial portion of the company's business is derived from local, state and federal building projects. The company generates revenues primarily from the sale, leasing, licensing, shipping, and installation of precast concrete products for the construction, utility and farming industries.

Executives

Wesley A Taylor	director, officer: Vice President	C/O SMITH MIDLAND CORP, 5119 CATLETT ROAD, MIDLAND VA 22728
Stephanie Poe	officer: Chief Financial Officer	5119 CATLETT ROAD, MIDLAND VA 22728
Ashley B Smith	director, officer: Vice President	C/O SMITH MIDLAND CORP, 5119 CATLETT ROAD, MIDLAND VA 22728
Rodney I Smith	director, officer: Chief Executive Officer	C/O SMITH MIDLAND CORP, 5119 CATLETT ROAD, MIDLAND VA 22728
Adam Jay Krick	officer: Chief Financial Officer	5119 CATLETT ROAD, MIDLAND VA 22728
James Russell Bruner	director	5119 CATLETT ROAD, MIDLAND VA 22728
Richard Gerhardt	director	5229 CATLETT ROAD, MIDLAND VA 20728
Russell Frederick L. Jr.	10 percent owner	1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226
Virginia Capital Partners, Llc	10 percent owner	1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226
Virginia Capital Partners Ii, Llc	10 percent owner	1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226
Virginia Capital Ii, Lp	10 percent owner	1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226
Tall Cotton Partners, Llc	10 percent owner	1801 LIBBIE AVENUE, SUITE 201, RICHMOND VA 23226
Gerhard E Borst	director	5119 CATLETT ROAD, MIDLAND VA 22728
David W Wright	10 percent owner
Canine Partners Llc	10 percent owner	255 SO 17TH ST, SUITE 2501, PHILADELPHIA PA 19103