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General Mills Long-Term Capital Lease Obligation

: USD 0 Mil (As of May. 2019)
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General Mills's long-term capital lease obligation for the quarter that ended in May. 2019 was USD 0 Mil.

General Mills Long-Term Capital Lease Obligation Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

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General Mills Annual Data
May10 May11 May12 May13 May14 May15 May16 May17 May18 May19
Long-Term Capital Lease Obligation Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

General Mills Quarterly Data
Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19
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 0.00 0.00 0.00 0.00 0.00

General Mills Long-Term Capital Lease Obligation Calculation

Capital lease obligations 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 current portion of a capital lease obligation is the portion of a long-term capital lease that is due over the next year.

General Mills  (NYSE:GIS) Long-Term Capital Lease Obligation Explanation

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.

General Mills Long-Term Capital Lease Obligation Headlines

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