China Life Insurance Co (China Life Insurance Co) Long-Term Capital Lease Obligation : $176 Mil (As of Dec. 2023)

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What is China Life Insurance Co Long-Term Capital Lease Obligation?

China Life Insurance Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $176 Mil.

China Life Insurance Co's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($194 Mil) to Sep. 2023 ($175 Mil) but then increased from Sep. 2023 ($175 Mil) to Dec. 2023 ($176 Mil).

China Life Insurance Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($343 Mil) to Dec. 2022 ($225 Mil) and declined from Dec. 2022 ($225 Mil) to Dec. 2023 ($176 Mil).

China Life Insurance Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for China Life 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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China Life Insurance Co Long-Term Capital Lease Obligation Chart

China Life Insurance Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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440.71

407.38

342.58

225.05

175.77

China Life Insurance Co 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															225.05	211.73	193.96	175.39	175.77

China Life Insurance Co (OTCPK:CILJF) 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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China Life Insurance Co (China Life Insurance Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » China Life Insurance Co Ltd (OTCPK:CILJF) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

02628:Hong Kong CHL:Germany 601628:China

Address

No. 16, Financial Street, Xicheng District, Beijing, CHN, 100033

Website

https://www.e-chinalife.com

With headquarters in Beijing and commanding about 20% market share, China Life Insurance is the largest life insurance company in China. The firm offers group and individual life insurance through exclusive agents, bancassurance, and other marketing platforms. While the bulk of profits stem from life insurance policies, additional operations include short-term policies such as accident and health insurance. The company is undergoing a business transformation toward the sale of long-term protection products and away from short-term and single-premium products.