Archer (Archer) Long-Term Capital Lease Obligation : $21 Mil (As of Mar. 2024)

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What is Archer Long-Term Capital Lease Obligation?

Archer's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $21 Mil.

Archer's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($18 Mil) to Dec. 2023 ($23 Mil) but then declined from Dec. 2023 ($23 Mil) to Mar. 2024 ($21 Mil).

Archer's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($22 Mil) to Dec. 2022 ($21 Mil) but then increased from Dec. 2022 ($21 Mil) to Dec. 2023 ($23 Mil).

Archer Long-Term Capital Lease Obligation Historical Data

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

Archer Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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31.00

21.40

21.50

20.80

22.90

Archer Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															20.20	19.10	18.30	22.90	20.70

Archer (OTCPK:ARHVD) 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.

Archer Long-Term Capital Lease Obligation Related Terms

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Archer (Archer) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Archer Ltd (OTCPK:ARHVD) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

ARCHERo:Sweden ARCH:Norway

Address

Sandnesveien 358, Sandnes, NOR, 4312

Website

https://www.archerwell.com

Archer Ltd is an international oilfield service company providing various oilfield products and services through its area organizations. Its services include platform drilling, land drilling, directional drilling, underbalanced drilling, modular rigs, engineering services, equipment rentals, wireline services, pressure control, pressure pumping, production monitoring, well imaging and integrity management tools. The reporting segments of the company are Platform Operations, Well Services and Land Drilling. Majority of revenue is derived from Platform Operations segment. Platform Operations segment includes Platform Drilling, Modular rig, and Engineering services.