Algoma Steel Group (TSX:ASTL) Long-Term Capital Lease Obligation : C$0 Mil (As of Dec. 2023)

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What is Algoma Steel Group Long-Term Capital Lease Obligation?

Algoma Steel Group's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0 Mil.

Algoma Steel Group's annual Long-Term Capital Lease Obligation increased from Mar. 2021 (C$0 Mil) to Mar. 2022 (C$1 Mil) but then declined from Mar. 2022 (C$1 Mil) to Mar. 2023 (C$0 Mil).

Algoma Steel Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Algoma Steel Group'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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Algoma Steel Group Long-Term Capital Lease Obligation Chart

Algoma Steel Group Annual Data

Trend

Mar20

Mar21

Mar22

Mar23

Long-Term Capital Lease Obligation

0.90

0.40

Algoma Steel Group Quarterly Data
	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											-	0.40	-	-	-

Algoma Steel Group (TSX:ASTL) 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.

Algoma Steel Group Long-Term Capital Lease Obligation Related Terms

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Algoma Steel Group (TSX:ASTL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Algoma Steel Group Inc (TSX:ASTL) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

ASTL:USA 9ZY:Germany

Address

105 West Street, Sault Ste., Marie, ON, CAN, P6A 7B4

Website

https://www.algoma.com

Algoma Steel Group Inc is a Canadian company engaged in the production of clean and consistent light gauge steel. The company offers a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The Company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from domestic sales. The company generates the majority of its revenue from the sale of Steel sheets and strips.