Canadian North Resources (TSXV:CNRI) Long-Term Capital Lease Obligation

: C$1.21 Mil (As of Sep. 2023)

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Canadian North Resources's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was C$1.21 Mil.

Canadian North Resources's quarterly Long-Term Capital Lease Obligation increased from Mar. 2023 (C$0.00 Mil) to Jun. 2023 (C$1.33 Mil) but then declined from Jun. 2023 (C$1.33 Mil) to Sep. 2023 (C$1.21 Mil).

Canadian North Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Canadian North Resources'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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Canadian North Resources Annual Data

Trend

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

Canadian North Resources Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Long-Term Capital Lease Obligation								-	-	-	1.33	1.21

Canadian North Resources (TSXV:CNRI) 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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Canadian North Resources (TSXV:CNRI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Canadian North Resources Inc (TSXV:CNRI) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

CNRSF:USA EO0:Germany

Address

299 Courtneypark Dr. E, 3rd Floor, Mississauga, ON, CAN

Website

https://www.cnresources.com

Canadian North Resources Inc is a Canadian mining exploration and development company that owns an interest in the Ferguson Lake mining property in the Kivalliq Region of Nunavut, Canada.

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