Embark Technology (Embark Technology) Long-Term Capital Lease Obligation : $14.22 Mil (As of Mar. 2023)

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What is Embark Technology Long-Term Capital Lease Obligation?

Embark Technology's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2023 was $14.22 Mil.

Embark Technology's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 ($20.09 Mil) to Dec. 2022 ($19.22 Mil) and declined from Dec. 2022 ($19.22 Mil) to Mar. 2023 ($14.22 Mil).

Embark Technology's annual Long-Term Capital Lease Obligation stayed the same from Dec. 2020 ($0.00 Mil) to Dec. 2021 ($0.00 Mil) but then increased from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($19.22 Mil).

Embark Technology Long-Term Capital Lease Obligation Historical Data

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

Embark Technology Annual Data

Trend

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

19.22

Embark Technology Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial					4.44	4.36	20.09	19.22	14.22

Embark Technology (NAS:EMBKW) 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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Embark Technology (Embark Technology) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Embark Technology Inc (NAS:EMBKW) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

321 Alabama Street, San Francisco, CA, USA, 94110

Website

https://www.embarktrucks.com

Embark Technology Inc is engaged in providing software and associated services that power self-driving trucks. It offers operational savings and collaborates with carriers, truck manufacturers, and tier 1 suppliers. The company's products include Embark Driver, Embark Universal Interface, and Embark Guardian.