VNET Group (VNET Group) Long-Term Capital Lease Obligation : $620 Mil (As of Dec. 2023)

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What is VNET Group Long-Term Capital Lease Obligation?

VNET Group's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $620 Mil.

VNET Group's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 ($608 Mil) to Sep. 2023 ($620 Mil) and increased from Sep. 2023 ($620 Mil) to Dec. 2023 ($620 Mil).

VNET Group's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($534 Mil) to Dec. 2022 ($567 Mil) and increased from Dec. 2022 ($567 Mil) to Dec. 2023 ($620 Mil).

VNET Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for VNET 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.
* 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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VNET Group Long-Term Capital Lease Obligation Chart

VNET Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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210.45

203.94

534.41

567.00

620.47

VNET Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															567.00	647.88	608.00	619.63	620.47

VNET Group (NAS:VNET) 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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VNET Group (VNET Group) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » VNET Group Inc (NAS:VNET) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

217A:Germany

Address

No. 10 Jiuxianqiao East Road, Guanjie Building Southeast 1st Floor, Chaoyang District, Beijing, CHN, 100016

Website

https://www.vnet.com

VNET started as AsiaCloud in 1999 and moved to the data center business with its first self-developed data center opening in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At end-September 2023 it had 84,608 self-built cabinets with the majority in Beijing, Shanghai, and the Greater Bay area. It also operated partnered data centers with around 4,314 cabinets and had 476 MW of wholesale capacity contracted or under a memorandum of understanding.