Tessco Technologies (Tessco Technologies) Long-Term Capital Lease Obligation : $5.5 Mil (As of Mar. 2023)

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What is Tessco Technologies Long-Term Capital Lease Obligation?

Tessco Technologies's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2023 was $5.5 Mil.

Tessco Technologies's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 ($5.3 Mil) to Dec. 2022 ($4.7 Mil) but then increased from Dec. 2022 ($4.7 Mil) to Mar. 2023 ($5.5 Mil).

Tessco Technologies's annual Long-Term Capital Lease Obligation declined from Mar. 2021 ($8.9 Mil) to Mar. 2022 ($6.6 Mil) and declined from Mar. 2022 ($6.6 Mil) to Mar. 2023 ($5.5 Mil).

Tessco Technologies Long-Term Capital Lease Obligation Historical Data

The historical data trend for Tessco Technologies'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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Tessco Technologies Long-Term Capital Lease Obligation Chart

Tessco Technologies Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Long-Term Capital Lease Obligation

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11.48

8.92

6.59

5.51

Tessco Technologies Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															6.59	5.92	5.29	4.75	5.51

Tessco Technologies (NAS:TESS) 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.

Tessco Technologies Long-Term Capital Lease Obligation Related Terms

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Tessco Technologies (Tessco Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Tessco Technologies Inc (NAS:TESS) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

11126 McCormick Road, Hunt Valley, MD, USA, 21031

Website

https://www.tessco.com

Tessco Technologies Inc is a United States-based value-added technology distributor, manufacturer, and solutions provider. The company supplies wireless communications products for network infrastructure, site support, and fixed and mobile broadband networks. It offers products related to power systems, Wi-Fi Networks, Broadband, DAS((Distributed Antenna Systems) for In-Building Cellular and Public Safety Coverage, IoT (Internet of Things), Mobile Devices and Accessories, and others. The operating segments of the company are Carrier and Commercial, of which the majority of the revenue is derived from the Commercial segment.

Executives

Barnhill Robert B Jr	10 percent owner	11126 MCCORMICK ROAD, HUNT VALLEY MD 21031
Thad Lowe	officer: Senior Vice President	11126 MCCORMICK ROAD, HUNT VALLEY MD 21031
Tammy Ridgley	officer: Senior Vice President	11126 MCCORMICK ROAD, HUNT VALLEY MD 21031
Michael Brodsky	other: See Explanation of Responses	C/O NEW WORLD OPPORTUNITY PARTNERS I LLC, 1603 ORRINGTON AVE, STE 1600, EVANSTON IL 60201
Matthew W Brewer	other: See Explanation of Responses	C/O BARTLIT BECK LLP, 54 WEST HUBBARD #3B, CHICAGO IL 60654
Kenneth J Spangler	other: See Explanation of Responses	90 FEDEX PARKWAY, 2ND FLOOR VERTICAL, COLLIERVILLE TN 38017
Joseph H Quaglia	other: See Explanation of Responses	5350 TECH DATA DRIVE, CLEARWATER FL 33760
J Timothy Bryan	director	11700 PLAZA AMERICA DRIVE, SUITE 1010, RESTON VA 20190
Lakeview Investment Group & Trading Co Llc	10 percent owner	444 WEST LAKE STREET, SUITE 1900, CHICAGO IL 60606
Steven T Campbell	director	8410 W. BRYN MAWR, CHICAGO IL 60631
Vernon Irvin	director	C/O EVERBRIDGE, INC., 25 CORPORATE DRIVE, BURLINGTON MA 02108
Paul J Gaffney	director	N56 W17000 RIDGEWOOD DRIVE, MENOMONEE FALLS WI 53051
Kathleen Mclean	director	C/O FAIRPOINT COMMUNICATIONS, INC., 521 E. MOREHEAD STREET, SUITE 500, CHARLOTTE NC 28202
Joseph Cawley	officer: Senior Vice President	11126 MCCORMICK ROAD, HUNT VALLEY MD 21031
Abl Manager Llc	10 percent owner	444 W. LAKE #1900, CHICAGO IL 60606