Fortitude Group (Fortitude Group) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2010)

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What is Fortitude Group Long-Term Capital Lease Obligation?

Fortitude Group's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2010 was $0.00 Mil.

Fortitude Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Fortitude Group'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.
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Fortitude Group Long-Term Capital Lease Obligation Chart

Fortitude Group Annual Data

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Long-Term Capital Lease Obligation

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Fortitude Group Quarterly Data
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Fortitude Group (OTCPK:FRTD) 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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Fortitude Group (Fortitude Group) Business Description

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Address

1001 State Street, Erie, PA, USA, 16501

Website

http://www.fortitudegroupinc.com

Fortitude Group Inc is a diversified investment company. It invests in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.

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