Enovix (FRA:6Q81) Long-Term Capital Lease Obligation : €13.63 Mil (As of Mar. 2024)

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What is Enovix Long-Term Capital Lease Obligation?

Enovix's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was €13.63 Mil.

Enovix's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (€7.06 Mil) to Dec. 2023 (€14.30 Mil) but then declined from Dec. 2023 (€14.30 Mil) to Mar. 2024 (€13.63 Mil).

Enovix's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (€8.03 Mil) to Dec. 2022 (€7.77 Mil) but then increased from Dec. 2022 (€7.77 Mil) to Dec. 2023 (€14.30 Mil).

Enovix Long-Term Capital Lease Obligation Historical Data

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

Enovix Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

8.03

7.77

14.30

Enovix Quarterly Data
	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										7.48	7.18	7.06	14.30	13.63

Enovix (FRA:6Q81) 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.

Enovix Long-Term Capital Lease Obligation Related Terms

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Enovix (FRA:6Q81) Business Description

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ENVX:USA

Address

3501 W. Warren Avenue, Fremont, CA, USA, 94538

Website

https://www.enovix.com

Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.

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