Firemans Contractors (Firemans Contractors) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2014)

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What is Firemans Contractors Long-Term Capital Lease Obligation?

Firemans Contractors's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2014 was $0.00 Mil.

Firemans Contractors Long-Term Capital Lease Obligation Historical Data

The historical data trend for Firemans Contractors'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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Firemans Contractors Long-Term Capital Lease Obligation Chart

Firemans Contractors Annual Data

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Long-Term Capital Lease Obligation

Firemans Contractors Quarterly Data
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Firemans Contractors (OTCPK:FRCN) 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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Firemans Contractors (Firemans Contractors) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Firemans Contractors Inc (OTCPK:FRCN) » Definitions » Long-Term Capital Lease Obligation

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Address

2313 E Loop 820 N, Fort Worth, TX, USA, 76118

Website

http://www.firemans-contractors.com

Firemans Contractors Inc is a full service painting company, focusing on residential, commercial and industrial parking lot striping, and parking lot maintenance services.

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