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Great-West Lifeco (OTCPK:GWLIF) Long-Term Capital Lease Obligation

: $0 Mil (As of Jun. 2023)
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Great-West Lifeco's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $0 Mil.

Great-West Lifeco's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 ($373 Mil) to Mar. 2023 ($0 Mil) but then stayed the same from Mar. 2023 ($0 Mil) to Jun. 2023 ($0 Mil).

Great-West Lifeco's annual Long-Term Capital Lease Obligation increased from Dec. 2020 ($0 Mil) to Dec. 2021 ($408 Mil) but then declined from Dec. 2021 ($408 Mil) to Dec. 2022 ($373 Mil).


Great-West Lifeco Long-Term Capital Lease Obligation Historical Data

The historical data trend for Great-West Lifeco'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.

* Premium members only.

Great-West Lifeco Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Long-Term Capital Lease Obligation
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - 407.81 373.21

Great-West Lifeco Quarterly Data
Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23
Long-Term 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 - - 373.21 - -

Great-West Lifeco  (OTCPK:GWLIF) 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.

Great-West Lifeco Long-Term Capital Lease Obligation Related Terms

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Great-West Lifeco (OTCPK:GWLIF) Business Description

Great-West Lifeco logo
Address
100 Osborne Street North, Winnipeg, MB, CAN, R3C 1V3
Great-West Lifeco provides life insurance, health insurance, retirement products, asset management, recordkeeping services, and reinsurance products in Canada, the United States, and Europe. The Canada business contributes approximately 35% of adjusted earnings and has leading market positions in group insurance, group retirement, and individual insurance. The company operates the second-largest recordkeeping business under the Empower brand in the United States, with an earnings contribution from the country approximating 20%. Great-West Lifeco also offers various products across Europe markets with a strong presence in the U.K., Ireland, and Germany. The Europe segment contributes around 28% of adjusted earnings and the reinsurance business accounts for around 17% of adjusted earnings.