Rio Tinto (Rio Tinto) Long-Term Capital Lease Obligation : $1,006 Mil (As of Dec. 2023)

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What is Rio Tinto Long-Term Capital Lease Obligation?

Rio Tinto's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $1,006 Mil.

Rio Tinto's quarterly Long-Term Capital Lease Obligation increased from Dec. 2022 ($908 Mil) to Jun. 2023 ($931 Mil) and increased from Jun. 2023 ($931 Mil) to Dec. 2023 ($1,006 Mil).

Rio Tinto's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($1,039 Mil) to Dec. 2022 ($908 Mil) but then increased from Dec. 2022 ($908 Mil) to Dec. 2023 ($1,006 Mil).

Rio Tinto Long-Term Capital Lease Obligation Historical Data

The historical data trend for Rio Tinto'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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Rio Tinto Long-Term Capital Lease Obligation Chart

Rio Tinto Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1,007.00

945.00

1,039.00

908.00

1,006.00

Rio Tinto Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															1,039.00	-	908.00	931.00	1,006.00

Rio Tinto (NYSE:RIO) 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.

Rio Tinto Long-Term Capital Lease Obligation Related Terms

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Rio Tinto (Rio Tinto) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Rio Tinto PLC (NYSE:RIO) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

RTPPF:USA RIO N:Mexico RIOl:UK RIO:UK RIO1:Germany RIOT34:Brazil RIO:Argentina

Address

6 St James’s Square, London, GBR, SW1Y 4AD

Website

https://www.riotinto.com

Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included its Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.