Mercury General (Mercury General) Long-Term Capital Lease Obligation : $14 Mil (As of Dec. 2023)

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What is Mercury General Long-Term Capital Lease Obligation?

Mercury General's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $14 Mil.

Mercury General's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($20 Mil) to Sep. 2023 ($19 Mil) and declined from Sep. 2023 ($19 Mil) to Dec. 2023 ($14 Mil).

Mercury General's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($35 Mil) to Dec. 2022 ($22 Mil) and declined from Dec. 2022 ($22 Mil) to Dec. 2023 ($14 Mil).

Mercury General Long-Term Capital Lease Obligation Historical Data

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

Mercury General Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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48.00

43.83

34.58

21.92

14.23

Mercury General 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															21.92	19.38	20.11	19.05	14.23

Mercury General (NYSE:MCY) 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.

Mercury General Long-Term Capital Lease Obligation Related Terms

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Mercury General (Mercury General) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Mercury General Corp (NYSE:MCY) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

MCG:Germany

Address

4484 Wilshire Boulevard, Los Angeles, CA, USA, 90010

Website

http://www.mercuryinsurance.com

Mercury General Corp is an insurance holding company operating in the property-casualty market, where it focuses on low-cost auto insurance for individuals, with operations in nearly 13 United States of America states. However, its business--about 75% of premiums--comes from California, where it was established by George Joseph, the current company chairman, and majority owner. Its insurance is distributed exclusively through independent agents.

Executives

Joshua Eric Little	director	192 E 200 N, THIRD FLOOR, ST. GEORGE UT 84770
Wei Pang	officer: VP/Chief Technology Officer	555 W. IMPERIAL HIGHWAY, BREA CA 92821
Mark Allan Ribisi	officer: President of AIS,subsidiary	16969 VON KARMAN AVE., IRVINE CA 92606
Katelyn Marie Gibbs	officer: VP/Chief Experience Officer	555 W. IMPERIAL HIGHWAY, BREA CA 92821
Kelly Lynn Butler	officer: VP/Chief Underwriting Officer	1700 GREENBRIAR LANE, BREA CA 92821
Joseph Vicky Wai Yee	director	4484 WILSHIRE BLVD., LOS ANGELES CA 90010
George Joseph	director, officer: Chairman of the Board	4484 WILSHIRE BLVD, LOS ANGELES CA 90010
George Gwyer Braunegg	director	6121 SHENANDOAH AVE., LOS ANGELES CA 90010
Abby Hosseini	officer: VP/Chief Information Officer	555 W. IMPERIAL HIGHWAY, BREA CA 92821
Brandt Minnich	officer: Vice President, Marketing	1700 GREENBRIAR LANE, BREA CA 92821
Gabriel Tirador	officer: President, other: Director
Charles Toney	officer: Vice President
Jeffrey Michael Schroeder	officer: VP/Chief Product Officer	1700 GREENBRIAR LANE, BREA CA 92821
Mike Curtius	director
Ramona L Cappello	director	4600 SLEEPYTIME DR, BOULDER CO 80301