Mayville Engineering Co (Mayville Engineering Co) Long-Term Capital Lease Obligation : $28.6 Mil (As of Dec. 2023)

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What is Mayville Engineering Co Long-Term Capital Lease Obligation?

Mayville Engineering Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $28.6 Mil.

Mayville Engineering Co's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($29.7 Mil) to Sep. 2023 ($28.6 Mil) but then increased from Sep. 2023 ($28.6 Mil) to Dec. 2023 ($28.6 Mil).

Mayville Engineering Co's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.0 Mil) to Dec. 2022 ($31.9 Mil) but then declined from Dec. 2022 ($31.9 Mil) to Dec. 2023 ($28.6 Mil).

Mayville Engineering Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mayville Engineering 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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Mayville Engineering Co Long-Term Capital Lease Obligation Chart

Mayville Engineering Co Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.69

2.06

31.89

28.61

Mayville Engineering 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															31.89	30.65	29.75	28.55	28.61

Mayville Engineering Co (NYSE:MEC) 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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Mayville Engineering Co (Mayville Engineering Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Mayville Engineering Co Inc (NYSE:MEC) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

2YN:Germany

Address

715 South Street, Mayville, WI, USA, 53050

Website

https://www.mecinc.com

Mayville Engineering Co Inc is involved in a manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly, and aftermarket components. Its customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction, powersports, agriculture, military, and other end markets. Its services comprise stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly, and logistic services.

Executives

Steven L Fisher	director	100 N.E. ADAMS STREET, PEORIA IL 61629
Jagadeesh A Reddy	director, officer: President & CEO	715 SOUTH STREET, MAYVILLE WI 53050
Allen J Carlson	director	1500 WEST UNIVERSITY PARKWAY, SARASOTA FL 34243
Robert L Mccormick	director	C/O DOUGLAS DYNAMICS, INC., 7777 NORTH 73RD STREET, MILWAUKEE WI 53233
Timothy L Christen	director, other: Chair of the Board	715 SOUTH STREET, MAYVILLE WI 53050
Jennifer J. Kent	director	QUAD/GRAPHICS, INC., N61 W23044 HARRY'S WAY, SUSSEX WI 53089-3995
Jay O. Rothman	director	C/O QUAD/GRAPHICS, INC., N61 W23044 HARRY'S WAY, SUSSEX WI 53089
Patrick D Michels	director	715 SOUTH STREET, MAYVILLE WI 53050
Rachele Marie Lehr	officer: Chief Human Resources Officer	12301 W WIRTH ST, WAUWATOSA WI 53222
Sean P Leuba	officer: SVP, Corp. Development & GC	715 SOUTH STREET, MAYVILLE WI 53050
Todd M Butz	officer: Chief Financial Officer	715 SOUTH STREET, MAYVILLE WI 53050
Robert D Kamphuis	director, officer: Chairman, Pres. & CEO	715 SOUTH STREET, MAYVILLE WI 53050
Craig E Johnson	director	715 SOUTH STREET, MAYVILLE WI 53050
Eric J Welak	officer: EVP - Fabrication	715 SOUTH STREET, MAYVILLE WI 53050
St. Peter John A	director	715 SOUTH STREET, MAYVILLE WI 53050