SIC Insurance Co (XGHA:SIC) Long-Term Capital Lease Obligation : GHS2.7 Mil (As of Dec. 2021)

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What is SIC Insurance Co Long-Term Capital Lease Obligation?

SIC Insurance Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2021 was GHS2.7 Mil.

SIC Insurance Co's quarterly Long-Term Capital Lease Obligation stayed the same from Jun. 2021 (GHS0.0 Mil) to Sep. 2021 (GHS0.0 Mil) but then increased from Sep. 2021 (GHS0.0 Mil) to Dec. 2021 (GHS2.7 Mil).

SIC Insurance Co's annual Long-Term Capital Lease Obligation increased from Dec. 2020 (GHS2.3 Mil) to Dec. 2021 (GHS2.7 Mil) but then declined from Dec. 2021 (GHS2.7 Mil) to Dec. 2022 (GHS2.4 Mil).

SIC Insurance Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for SIC Insurance Co'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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SIC Insurance Co Long-Term Capital Lease Obligation Chart

SIC Insurance Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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2.34

2.72

2.37

SIC Insurance Co Quarterly Data
	Dec15	Dec16	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Dec22
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	2.72	2.37

SIC Insurance Co (XGHA:SIC) 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.

SIC Insurance Co Long-Term Capital Lease Obligation Related Terms

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SIC Insurance Co (XGHA:SIC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » SIC Insurance Co Ltd (XGHA:SIC) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

N/A

Address

28/29 Ring Road East, Nyemitei House, P. O. Box 2363, Osu, Accra, GHA

Website

https://www.sic-gh.com

SIC Insurance Co Ltd is a Ghana-based insurance company. It offers non-life insurance products including Motor insurance, Fire insurance, Marine and aviation insurance; and Accident insurance. Along with its subsidiaries, the company also issues a diversified portfolio of investment services to provide its customers with asset management solutions for their savings and retirement needs as well as undertaking brokerage services and corporate finance. The firm operates in Ghana. The company generates the majority of its revenue from Fire Insurance.