ABVE (Above Food Ingredients) Long-Term Capital Lease Obligation : $25.3 Mil (As of Jul. 2024)

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What is Above Food Ingredients Long-Term Capital Lease Obligation?

Above Food Ingredients's Long-Term Capital Lease Obligation for the quarter that ended in Jul. 2024 was $25.3 Mil.

Above Food Ingredients's quarterly Long-Term Capital Lease Obligation increased from Oct. 2023 ($25.8 Mil) to Jan. 2024 ($26.7 Mil) but then declined from Jan. 2024 ($26.7 Mil) to Jul. 2024 ($25.3 Mil).

Above Food Ingredients's annual Long-Term Capital Lease Obligation declined from Jan. 2022 ($27.6 Mil) to Jan. 2023 ($27.2 Mil) and declined from Jan. 2023 ($27.2 Mil) to Jan. 2024 ($26.7 Mil).

Above Food Ingredients Long-Term Capital Lease Obligation Historical Data

The historical data trend for Above Food Ingredients'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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Above Food Ingredients Long-Term Capital Lease Obligation Chart

Above Food Ingredients Annual Data

Trend

Jan22

Jan23

Jan24

Long-Term Capital Lease Obligation

27.63

27.21

26.72

Above Food Ingredients Quarterly Data
	Jan22	Jan23	Oct23	Jan24	Jul24
Long-Term Capital Lease Obligation	27.63	27.21	25.77	26.72	25.28

Above Food Ingredients (NAS:ABVE) 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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Above Food Ingredients Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Above Food Ingredients Inc (NAS:ABVE) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

2305 Victoria Avenue, Saskatchewan, Regina, SK, CAN, S4P0S7

Website

https://www.abovefood.com

Above Food Ingredients Inc is a differentiated, regenerative ingredient company. Its products are made with real nutritious, flavorful ingredients and delivered with transparency. Its vision is to create a healthier world one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence driven genomics. The company delivers nutritious foods to businesses and consumers with traceability and sustainability. Above Food's consumer products and brands are available in grocers across Canada and the United States.