What is Southern Co Long-Term Capital Lease Obligation?
Southern Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $1,307 Mil.
Southern Co's quarterly Long-Term Capital Lease Obligation
declined
from Jun. 2023 ($1,356 Mil) to Sep. 2023 ($1,320 Mil) and
declined
from Sep. 2023 ($1,320 Mil) to Dec. 2023 ($1,307 Mil).
Southern Co's annual Long-Term Capital Lease Obligation
declined
from Dec. 2021 ($1,503 Mil) to Dec. 2022 ($1,388 Mil) and
declined
from Dec. 2022 ($1,388 Mil) to Dec. 2023 ($1,307 Mil).
Southern Co Long-Term Capital Lease Obligation Historical Data
The historical data trend for Southern Co'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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Southern Co Long-Term Capital Lease Obligation Chart
Southern Co (NYSE:SO) 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.
Southern Co Long-Term Capital Lease Obligation Related Terms
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Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states. It owns 50 gigawatts of rate-regulated generating capacity, primarily for serving customers in Georgia, Alabama, and Mississippi. Subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy across the U.S. and sells the electricity primarily under long-term contracts.
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