Gulf Insurance Group KSC (KUW:GINS) Long-Term Capital Lease Obligation : KWD5.5 Mil (As of Mar. 2024)

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What is Gulf Insurance Group KSC Long-Term Capital Lease Obligation?

Gulf Insurance Group KSC's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was KWD5.5 Mil.

Gulf Insurance Group KSC's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (KWD0.0 Mil) to Dec. 2023 (KWD5.0 Mil) and increased from Dec. 2023 (KWD5.0 Mil) to Mar. 2024 (KWD5.5 Mil).

Gulf Insurance Group KSC's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (KWD0.6 Mil) to Dec. 2022 (KWD4.4 Mil) and increased from Dec. 2022 (KWD4.4 Mil) to Dec. 2023 (KWD5.0 Mil).

Gulf Insurance Group KSC Long-Term Capital Lease Obligation Historical Data

The historical data trend for Gulf Insurance Group KSC'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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Gulf Insurance Group KSC Long-Term Capital Lease Obligation Chart

Gulf Insurance Group KSC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.17

0.56

4.43

5.03

Gulf Insurance Group KSC Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	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															-	-	-	5.03	5.52

Gulf Insurance Group KSC (KUW:GINS) 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.

Gulf Insurance Group KSC Long-Term Capital Lease Obligation Related Terms

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Gulf Insurance Group KSC (KUW:GINS) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Gulf Insurance Group KSC (KUW:GINS) » Definitions » Long-Term Capital Lease Obligation

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Address

Khaled Ibn Al Waleed Street, Sharq, P.O.Box 1040, Safat, KIPCO Tower, 40th Floor, Office Number 1 and 2, Kuwait City, KWT, 13011

Website

https://www.gig.com.kw

Gulf Insurance Group KSC is an insurance company offering solutions and covering a range of risks related to Motor, Marine & Aviation, Property & Casualty, and Life & Health Insurance both in conventional and Takaful (Islamic insurance based on Shariah principles) basis. Gulf Insurance operates its business in two segments namely General risk insurance and Life and medical insurance offering general insurance including marine and aviation, motor vehicles, property, engineering and general accidents; and savings, protection products, and other long-term contracts respectively. The company generates revenues from the premium amount written.

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