Offshore Oil Engineering Co (SHSE:600583) Long-Term Capital Lease Obligation : ¥67 Mil (As of Dec. 2023)

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What is Offshore Oil Engineering Co Long-Term Capital Lease Obligation?

Offshore Oil Engineering Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was ¥67 Mil.

Offshore Oil Engineering Co's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 (¥16 Mil) to Sep. 2023 (¥35 Mil) and increased from Sep. 2023 (¥35 Mil) to Dec. 2023 (¥67 Mil).

Offshore Oil Engineering Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (¥40 Mil) to Dec. 2022 (¥15 Mil) but then increased from Dec. 2022 (¥15 Mil) to Dec. 2023 (¥67 Mil).

Offshore Oil Engineering Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Offshore Oil Engineering 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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Offshore Oil Engineering Co Long-Term Capital Lease Obligation Chart

Offshore Oil Engineering Co Annual Data

Trend

Dec14

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Dec23

Long-Term Capital Lease Obligation

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79.13

39.66

14.56

66.86

Offshore Oil Engineering Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															14.56	15.04	16.34	34.98	66.86

Offshore Oil Engineering Co (SHSE:600583) 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.

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Offshore Oil Engineering Co (SHSE:600583) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Offshore Oil Engineering Co Ltd (SHSE:600583) » Definitions » Long-Term Capital Lease Obligation

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Address

No. 199, Haibin 15 Road, TianjinPort Free Trade Zone, Tianjin, CHN, 300461

Website

http://www.cnoocengineering.com

Offshore Oil Engineering Co Ltd operates as an engineering design, procurement, construction, and installation (EPCI) company primarily for the oil and natural gas industry in China and internationally. The company provides technical services, subsea pipe maintenance, and other services for offshore oil underwater engineering; oil-gas field development and repair services; and consulting services for deep-sea engineering.

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