Franklin Mining (Franklin Mining) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2002)

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What is Franklin Mining Long-Term Capital Lease Obligation?

Franklin Mining's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2002 was $0.00 Mil.

Franklin Mining Long-Term Capital Lease Obligation Historical Data

The historical data trend for Franklin Mining'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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Franklin Mining Long-Term Capital Lease Obligation Chart

Franklin Mining Annual Data

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Long-Term Capital Lease Obligation

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Franklin Mining Quarterly Data
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Franklin Mining (OTCPK:FMNJ) 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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Franklin Mining (Franklin Mining) Business Description

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Address

215 west Bandera Road, Suite 114-459, Boerne, TX, USA, 78006

Website

https://www.franklinmining.com

Franklin Mining Inc is engaged in the exploration, development, and mining of precious and non-ferrous metals, including gold, silver, lead, copper, and zinc. Its principal mining properties are Franklin Mines, located near Idaho Springs in clear creek country, Colorado, and the Franklin Mill, located on the site of Franklin Mines.

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