Altima Resources (Altima Resources) Long-Term Capital Lease Obligation : $0.00 Mil (As of Nov. 2023)

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What is Altima Resources Long-Term Capital Lease Obligation?

Altima Resources's Long-Term Capital Lease Obligation for the quarter that ended in Nov. 2023 was $0.00 Mil.

Altima Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Altima Resources'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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Altima Resources Long-Term Capital Lease Obligation Chart

Altima Resources Annual Data

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Long-Term Capital Lease Obligation

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Altima Resources Quarterly Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	-

Altima Resources (OTCPK:ARSLF) 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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Altima Resources (Altima Resources) Business Description

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ARH:Canada

Address

595 Howe Street, Suite 303, Vancouver, BC, CAN, V6C 2T5

Website

http://www.altimaresources.ca

Altima Resources Ltd is a junior energy company engaged in the exploration and development of petroleum and natural gas in Canada. The company operates in the petroleum and natural gas industry.

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