Turners Automotive Group (ASX:TRA) Long-Term Capital Lease Obligation : A$0.0 Mil (As of Sep. 2023)

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What is Turners Automotive Group Long-Term Capital Lease Obligation?

Turners Automotive Group's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was A$0.0 Mil.

Turners Automotive Group's annual Long-Term Capital Lease Obligation increased from Mar. 2021 (A$21.5 Mil) to Mar. 2022 (A$24.1 Mil) but then declined from Mar. 2022 (A$24.1 Mil) to Mar. 2023 (A$0.0 Mil).

Turners Automotive Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Turners Automotive 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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Turners Automotive Group Long-Term Capital Lease Obligation Chart

Turners Automotive Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Long-Term Capital Lease Obligation

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31.66

21.47

24.08

Turners Automotive Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	24.08	-	-	-

Turners Automotive Group (ASX:TRA) 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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Turners Automotive Group (ASX:TRA) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Turners Automotive Group Ltd (ASX:TRA) » Definitions » Long-Term Capital Lease Obligation

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TRA:New Zealand

Address

Level 5, 70 Shortland Street, PO Box 1232, Auckland, NZL, 1140

Website

https://www.turnersautogroup.co.nz

Turners Automotive Group Ltd is an integrated financial services group, primarily operating in the automotive sector. Business activity generally functions through Automotive Retail, Finance, Insurance, Credit management, Corporate, and Others. The company derives the majority of its revenue from Automotive retail which is engaged in remarketing (motor vehicles, trucks, heavy machinery, and commercial goods) and purchasing goods for sale and related asset-based finance to consumers. Geographically the group's business activities are located in New Zealand and Australia.

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