ESS Tech (ESS Tech) Long-Term Capital Lease Obligation : $0.61 Mil (As of Mar. 2024)

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What is ESS Tech Long-Term Capital Lease Obligation?

ESS Tech's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.61 Mil.

ESS Tech's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($1.37 Mil) to Dec. 2023 ($0.96 Mil) and declined from Dec. 2023 ($0.96 Mil) to Mar. 2024 ($0.61 Mil).

ESS Tech's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($2.54 Mil) but then declined from Dec. 2022 ($2.54 Mil) to Dec. 2023 ($0.96 Mil).

ESS Tech Long-Term Capital Lease Obligation Historical Data

The historical data trend for ESS Tech'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.

* Premium members only.

ESS Tech Long-Term Capital Lease Obligation Chart

ESS Tech Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

2.54

0.96

ESS Tech Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial									2.15	1.77	1.37	0.96	0.61

ESS Tech (NYSE:GWH) 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.

ESS Tech Long-Term Capital Lease Obligation Related Terms

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ESS Tech (ESS Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » ESS Tech Inc (NYSE:GWH) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

GWHWS:USA

Address

26440 SW Parkway Avenue, Building 83, Wilsonville, OR, USA, 97070

Website

https://www.essinc.com

ESS Tech Inc is a long-duration energy storage company specializing in iron flow battery technology. The company design and produce long-duration batteries predominantly using earth-abundant materials.

Executives

Harry Quarls	director	14701 ST. MARY'S LANE, SUITE 275, HOUSTON TX 77079
Kyle Teamey	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Honeywell International Inc	10 percent owner	855 S. MINT STREET, CHARLOTTE NC 28202
Sandeep Nijhawan	director	ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Michael R Niggli	director	101 ASH STREET HQ18, SAN DIEGO CA 92101
Rich Hossfeld	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Craig E Evans	director, officer: President	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Eric P. Dresselhuys	director, officer: Chief Executive Officer	555 BROADWAY STREET, REDWOOD CITY CA 94063
Anthony Rabb	officer: Chief Financial Officer	C/O ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Amir Moftakhar	officer: Chief Financial Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Claudia Gast	director	C/O GLOBAL TECHNOLOGY ACQUISITION CORP I, 19 WEST 24TH STREET, 10TH FLOOR, NEW YORK NY 10010
Jeff Bodner	officer: Chief Accounting Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE CA 97070
Breakthrough Energy Investments Llc	10 percent owner	250 SUMMER STREET, 4TH FLOOR, BOSTON MA 02210
Julia Song	officer: Chief Technology Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Shirley Speakman	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070