OFG Bancorp (OFG Bancorp) Long-Term Capital Lease Obligation : $24.03 Mil (As of Dec. 2023)

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What is OFG Bancorp Long-Term Capital Lease Obligation?

OFG Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $24.03 Mil.

OFG Bancorp's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($24.03 Mil) to Sep. 2023 ($22.27 Mil) but then increased from Sep. 2023 ($22.27 Mil) to Dec. 2023 ($24.03 Mil).

OFG Bancorp's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($30.50 Mil) to Dec. 2022 ($27.37 Mil) and declined from Dec. 2022 ($27.37 Mil) to Dec. 2023 ($24.03 Mil).

OFG Bancorp Long-Term Capital Lease Obligation Historical Data

The historical data trend for OFG Bancorp'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.

* Premium members only.

OFG Bancorp Long-Term Capital Lease Obligation Chart

OFG Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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39.84

32.57

30.50

27.37

24.03

OFG Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															25.99	24.03	22.27	24.03	23.97

OFG Bancorp (NYSE:OFGpB.PFD) 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.

OFG Bancorp Long-Term Capital Lease Obligation Related Terms

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OFG Bancorp (OFG Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » OFG Bancorp (NYSE:OFGpB.PFD) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

OFG:USA OFP:Germany

Address

254 Munoz Rivera Avenue, San Juan, PRI, 00918

Website

https://www.ofgbancorp.com

OFG Bancorp is a financial holding company, through its subsidiaries provides banking and financial services. It operates through three segments namely Banking, Wealth Management, and Treasury. It serves to clients such as commercial, consumer, auto, and mortgage lending, checking and savings accounts, financial planning, insurance, financial services, and investment brokerage, and corporate and individual trust and retirement services. It provides services in the region of Puerto Rico.