iFabric (iFabric) Long-Term Capital Lease Obligation : $0.01 Mil (As of Jun. 2023)

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What is iFabric Long-Term Capital Lease Obligation?

iFabric's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $0.01 Mil.

iFabric's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 ($0.02 Mil) to Mar. 2023 ($0.02 Mil) and declined from Mar. 2023 ($0.02 Mil) to Jun. 2023 ($0.01 Mil).

iFabric's annual Long-Term Capital Lease Obligation increased from Sep. 2019 ($0.00 Mil) to Sep. 2020 ($0.02 Mil) but then declined from Sep. 2020 ($0.02 Mil) to Sep. 2021 ($0.02 Mil).

iFabric Long-Term Capital Lease Obligation Historical Data

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

iFabric Annual Data

Trend

Sep12

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Long-Term Capital Lease Obligation

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0.02

iFabric 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	Get a 7-Day Free Trial															0.03	0.03	0.02	0.02	0.01

iFabric (OTCPK:IFABF) 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.

iFabric Long-Term Capital Lease Obligation Related Terms

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iFabric (iFabric) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » iFabric Corp (OTCPK:IFABF) » Definitions » Long-Term Capital Lease Obligation

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IFA:Canada

Address

525 Denison Street, Unit 1, Markham, ON, CAN, L3R 1B8

Website

https://www.ifabriccorp.com

iFabric Corp is engaged in the business of women's intimate apparel. It has three business segments. The Intimate apparel segment is involved in the design and distribution of women's intimate apparel, and accessories. Its Intelligent fabric segment develops and distributes innovative products and treatments that are suitable for application to textiles, plastics, liquids, and hard surfaces as well as finished performance apparel. The other segment engages in the leasing of property to group companies, related parties, and third parties. Its geographical segments include Canada, United States, United Kingdom, and Southeast Asia & others. The company derives the majority of its revenue from the Intimate apparel segment and its geographical location of Canada.