Spirit Airlines's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $3,299 Mil.
Spirit Airlines's quarterly Long-Term Capital Lease Obligation
increased
from Jun. 2023 ($2,793 Mil) to Sep. 2023 ($3,108 Mil) and
increased
from Sep. 2023 ($3,108 Mil) to Dec. 2023 ($3,299 Mil).
Spirit Airlines's annual Long-Term Capital Lease Obligation
increased
from Dec. 2021 ($1,751 Mil) to Dec. 2022 ($2,456 Mil) and
increased
from Dec. 2022 ($2,456 Mil) to Dec. 2023 ($3,299 Mil).
Spirit Airlines Long-Term Capital Lease Obligation Historical Data
The historical data trend for Spirit Airlines'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.
Spirit Airlines (NYSE:SAVE) 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.
Spirit Airlines Long-Term Capital Lease Obligation Related Terms
Thank you for viewing the detailed overview of Spirit Airlines's Long-Term Capital Lease Obligation provided by GuruFocus.com. Please click on the following links to see related term pages.
Spirit Airlines (Spirit Airlines) Business Description
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SAVE has been successfully added to your 