Mirvac Group (ASX:MGR) Long-Term Capital Lease Obligation : A$0 Mil (As of Dec. 2023)

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What is Mirvac Group Long-Term Capital Lease Obligation?

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

Mirvac Group's quarterly Long-Term Capital Lease Obligation increased from Dec. 2022 (A$0 Mil) to Jun. 2023 (A$56 Mil) but then declined from Jun. 2023 (A$56 Mil) to Dec. 2023 (A$0 Mil).

Mirvac Group's annual Long-Term Capital Lease Obligation increased from Jun. 2021 (A$64 Mil) to Jun. 2022 (A$72 Mil) but then declined from Jun. 2022 (A$72 Mil) to Jun. 2023 (A$56 Mil).

Mirvac Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mirvac 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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Mirvac Group Long-Term Capital Lease Obligation Chart

Mirvac Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Long-Term Capital Lease Obligation

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68.00

64.00

72.00

56.00

Mirvac Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	72.00	-	56.00	-

Mirvac Group (ASX:MGR) 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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Mirvac Group (ASX:MGR) Business Description

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GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mirvac Group (ASX:MGR) » Definitions » Long-Term Capital Lease Obligation

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MRVGF:USA MJB:Germany

Address

200 George Street, Level 28, Sydney, NSW, AUS, 2000

Website

https://www.mirvac.com

Mirvac is one of Australia's largest residential developers, particularly apartments. Residential development earnings are volatile, generating about a fifth of EBIT in fiscal 2023, despite accounting for only about 15% of the group's invested capital. Over our 10-year discrete forecast period we don't expect residential development to exceed the lofty peaks seen in 2017, when Mirvac settled 3,400 residential lots, however, we expect modest growth over time as Mirvac gains market share and constructs housing into an under-supplied market. About 80% of Mirvac's earnings come from a predictable commercial property portfolio, more than half of which is high-grade office and another fourth in retail, a small industrial portfolio, and a small but growing build-to-rent residential portfolio.

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