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LendingClub Long-Term Debt & Capital Lease Obligation

: $498.9 Mil (As of Sep. 2021)
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Long-Term Debt & Capital Lease Obligation is the debt and capital lease obligation due more than 12 months in the future. LendingClub's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2021 was $498.9 Mil.

LT-Debt-to-Total-Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligation divides by its Total Assets. LendingClub's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2021 was $498.9 Mil. LendingClub's Total Assets for the quarter that ended in Sep. 2021 was $4,750.8 Mil. LendingClub's LT-Debt-to-Total-Asset for the quarter that ended in Sep. 2021 was 0.11.

LendingClub's LT-Debt-to-Total-Asset declined from Sep. 2020 (0.50) to Sep. 2021 (0.11). It may suggest that LendingClub is progressively becoming less dependent on debt to grow their business.


LendingClub Long-Term Debt & Capital Lease Obligation Historical Data

The historical data trend for LendingClub's Long-Term Debt & 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.

LendingClub Annual Data
Trend Mar12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Long-Term Debt & Capital Lease Obligation
Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4,320.90 3,266.89 2,162.23 1,234.42 884.12

LendingClub Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Long-Term Debt & Capital Lease Obligation Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 980.21 884.12 763.49 617.40 498.90

LendingClub Long-Term Debt & Capital Lease Obligation Calculation

Long-Term Debt is the debt due more than 12 months in the future. The debt can be owed to banks or bondholders. Some companies issue bonds to investors and pay interest on the bonds.

Long-Term Capital Lease Obligation represents the total liability for long-term leases lasting over one year. It's amount equal to the present value (the principal) at the beginning of the lease term less lease payments during the lease term.

The interest paid on companies' debt is reflected in the income statement as interest expense. If a company has too much debt and it cannot serve the interest payment on the debt or repay the matured debt, the company risks bankruptcy. Peter Lynch famously said: A company that does not have debt cannot go bankrupt.

A company's long term debt may have different dates of maturity and interest rates, depending on the terms.

Usually a company issues long term debt to pay for its capital expenditures. Borrowing allows the company to do things that otherwise cannot be done with only the capital it has. But debt can be risky.


LendingClub  (NYSE:LC) Long-Term Debt & Capital Lease Obligation Explanation

LT-Debt-to-Total-Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

LendingClub's LT-Debt-to-Total-Asset ratio for the quarter that ended in Sep. 2021 is calculated as:

LT-Debt-to-Total-Asset (Q: Sep. 2021 )=Long-Term Debt & Capital Lease Obligation (Q: Sep. 2021 )/Total Assets (Q: Sep. 2021 )
=498.899/4750.76
=0.11

* 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.

Buffett says that durable competitive advantages carry little to no long-term debt because the company is so profitable that even expansions or acquisitions are self financed.

We are interested in long term debt load for the last ten years. If the ten years of operation show little to no long term debt, then the company has some kind of strong competitive advantage.

Warren Buffett's historic purchases indicate that on any given year, the company should have sufficient yearly net earnings to pay all long term within 3 or 4 year earnings period. (e.g. Coke + Moody's = 1yr)

Companies with enough earning power to pay long term debt in less than 3 or 4 years is a good candidate in our search for long term competitive advantage.

BUT, these companies are targets for leveraged buy outs, which saddles the business with long term debt.

If all else indicates the company has a moat, but it has ton of debt, a leveraged buyout may have created the debt. In these cases the company's bonds offer the better bet, in that the company’s earnings power is focused on paying off the debt and not growth.

Important: little or no long term debt often means a Good Long Term Bet


LendingClub Long-Term Debt & Capital Lease Obligation Related Terms

Thank you for viewing the detailed overview of LendingClub's Long-Term Debt & Capital Lease Obligation provided by GuruFocus.com. Please click on the following links to see related term pages.


LendingClub Business Description

LendingClub logo
Industry
Financial Services » Credit Services NAICS : 525990 SIC : 6153
Traded in Other Exchanges
Address
595 Market Street, Suite 200, San Francisco, CA, USA, 94105
LendingClub Corp is a company engaged in operating an online lending marketplace platform that connects borrowers and investors for the provision of the loan facility. It offers investors access to an asset class that has generally been closed to many investors and only available on a limited basis to institutional investors. The company through the platform offer loan products such as personal, education and patient finance, small business and auto to interested investors. It generates a majority of the revenue from the transaction fees received from the platform's role in accepting and decisioning applications on behalf of the bank partners to enable loan originations.
Executives
Kay Valerie officer: Chief Capital Officer C/O LENDINGCLUB CORPORATION 71 STEVENSON ST, SUITE 1000 SAN FRANCISCO CA 94105
Casey Thomas W officer: Chief Financial Officer 1201 THIRD AVE SEATTLE WA 98101
Koohestani Bahman officer: Chief Technology Officer 500 W. MADISON STREET #1000 CHICAGO IL 60661
Stack Fergal officer: SVP, Corporate Controller C/O LENDINGCLUB CORPORATION 71 STEVENSON ST., SUITE 300 SAN FRANCISCO CA 94105
Pace Brandon officer: General Counsel and Secretary C/O LENDINGCLUB CORPORATION 595 MARKET ST, SUITE 200 SAN FRANCISCO CA 94105
Sanborn Scott officer: CEO C/O REDENVELOPE, INC. 149 NEW MONTGOMERY STREET SAN FRANCISCO CA 94105
Bogan Timothy officer: Chief Risk Officer C/O LENDINGCLUB CORPORATION 71 STEVENSON ST, SUITE 300 SAN FRANCISCO CA 94105
Armstrong Annie officer: Chief Risk Officer C/O LENDINGCLUB CORPORATION 595 MARKET ST. #200 SAN FRANCISCO CA 94105
Momen Ronnie officer: Chief Lending Officer C/O LENDINGCLUB CORPORATION SAN FRANCISCO CA 94105
Denman Kenneth D director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: DENMAN KENNETH D a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Zeisser Michael P director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: ZEISSER MICHAEL P a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Williams Simon director C/O THE STUDENT LOAN CORPORATION 750 WASHINGTON BLVD., 9TH FLOOR STAMFORD CT 06901
Ciporin Daniel T director C/O VISTAPRINT USA, INC. 100 HAYDEN AVE LEXINGTON MA 02421
Mayopoulos Timothy J director C/O FANNIE MAE 1100 15TH STREET, NW WASHINGTON DC 20005
Morris John C. director C/O VISA INC. P.O. BOX 8999 SAN FRANCISCO CA 94128-8999

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