Orbit Garant Drilling (TSX:OGD) Long-Term Capital Lease Obligation : C$1.8 Mil (As of Mar. 2024)

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What is Orbit Garant Drilling Long-Term Capital Lease Obligation?

Orbit Garant Drilling's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$1.8 Mil.

Orbit Garant Drilling's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (C$1.2 Mil) to Dec. 2023 (C$1.9 Mil) but then declined from Dec. 2023 (C$1.9 Mil) to Mar. 2024 (C$1.8 Mil).

Orbit Garant Drilling's annual Long-Term Capital Lease Obligation increased from Jun. 2021 (C$1.4 Mil) to Jun. 2022 (C$1.4 Mil) but then declined from Jun. 2022 (C$1.4 Mil) to Jun. 2023 (C$0.7 Mil).

Orbit Garant Drilling Long-Term Capital Lease Obligation Historical Data

The historical data trend for Orbit Garant Drilling'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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Orbit Garant Drilling Long-Term Capital Lease Obligation Chart

Orbit Garant Drilling Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Long-Term Capital Lease Obligation

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1.65

1.36

1.39

0.69

Orbit Garant Drilling 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															0.37	0.69	1.21	1.90	1.76

Orbit Garant Drilling (TSX:OGD) 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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Orbit Garant Drilling (TSX:OGD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Orbit Garant Drilling Inc (TSX:OGD) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

OBGRF:USA

Address

3200, Jean Jacques Cossette Boulevard, Val-d'Or, QC, CAN, J9P 6Y6

Website

http://www.orbitgarant.com

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems. The company operates in Canada, the United States, Central and South America, and West Africa. The majority of the company's revenue is derived from operations in Canada.

Executives

Alain Laplante

Senior Officer

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