PICC Property and Casualty Co (PICC Property and Casualty Co) Long-Term Capital Lease Obligation : $184 Mil (As of Dec. 2023)

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What is PICC Property and Casualty Co Long-Term Capital Lease Obligation?

PICC Property and Casualty Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $184 Mil.

PICC Property and Casualty Co's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($201 Mil) to Sep. 2023 ($0 Mil) but then increased from Sep. 2023 ($0 Mil) to Dec. 2023 ($184 Mil).

PICC Property and Casualty Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($280 Mil) to Dec. 2022 ($213 Mil) and declined from Dec. 2022 ($213 Mil) to Dec. 2023 ($184 Mil).

PICC Property and Casualty Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for PICC Property and Casualty 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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PICC Property and Casualty Co Long-Term Capital Lease Obligation Chart

PICC Property and Casualty Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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313.39

255.07

280.41

212.86

184.31

PICC Property and Casualty Co Quarterly Data
	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	212.86	200.80	-	184.31

PICC Property and Casualty Co (OTCPK:PPCCY) 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.

PICC Property and Casualty Co Long-Term Capital Lease Obligation Related Terms

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PICC Property and Casualty Co (PICC Property and Casualty Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » PICC Property and Casualty Co Ltd (OTCPK:PPCCY) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

PPCCF:USA 02328:Hong Kong PJC:Germany

Address

Tower 2, No. 2 Jianguomenwai Avenue, Chaoyang District, Beijing, CHN, 100022

Website

https://property.picc.com

Headquartered in Beijing, PICC P&C is China's largest nonlife insurer, commanding over 33% market share in the country. It was founded by the People's Bank of China in 1949. The company is a flagship subsidiary of the PICC Group, a state-owned insurance group, which owns 69% of PICC P&C. The company offers a wide range of nonlife insurance products, including auto, commercial property, liability, credit and surety bond, accidents and health, energy and aerospace, and agricultural insurance.

PICC Property and Casualty Co (PICC Property and Casualty Co) Headlines

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PICC Property and Casualty Co Stock Is Believed To Be Modestly Undervalued

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