What is Lowe's Long-Term Capital Lease Obligation?
Lowe's's Long-Term Capital Lease Obligation for the quarter that ended in Jan. 2024 was $3,737 Mil.
Lowe's's quarterly Long-Term Capital Lease Obligation
declined
from Jul. 2023 ($3,611 Mil) to Oct. 2023 ($3,602 Mil) but then
increased
from Oct. 2023 ($3,602 Mil) to Jan. 2024 ($3,737 Mil).
Lowe's's annual Long-Term Capital Lease Obligation
declined
from Jan. 2022 ($4,021 Mil) to Jan. 2023 ($3,512 Mil) but then
increased
from Jan. 2023 ($3,512 Mil) to Jan. 2024 ($3,737 Mil).
Lowe's Long-Term Capital Lease Obligation Historical Data
The historical data trend for Lowe's'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.
Lowe's (NYSE:LOW) 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.
Lowe's Long-Term Capital Lease Obligation Related Terms
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Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a low-double-digit share of the domestic home improvement market, based on U.S. Census data and management's market size estimates.
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