iFIT Health & Fitness (iFIT Health & Fitness) Long-Term Capital Lease Obligation : $0 Mil (As of May. 2020)

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What is iFIT Health & Fitness Long-Term Capital Lease Obligation?

iFIT Health & Fitness's Long-Term Capital Lease Obligation for the quarter that ended in May. 2020 was $0 Mil.

iFIT Health & Fitness Long-Term Capital Lease Obligation Historical Data

The historical data trend for iFIT Health & Fitness'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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iFIT Health & Fitness Long-Term Capital Lease Obligation Chart

iFIT Health & Fitness Annual Data

Trend

May19

May20

May21

Long-Term Capital Lease Obligation

iFIT Health & Fitness Quarterly Data
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iFIT Health & Fitness (NAS:IFIT) 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.

iFIT Health & Fitness Long-Term Capital Lease Obligation Related Terms

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iFIT Health & Fitness (iFIT Health & Fitness) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » iFIT Health & Fitness Inc (NAS:IFIT) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

1500 South 1000 West, Logan, UT, USA, 84321

Website

https://www.ifit.com

iFIT Health & Fitness Inc is a health and fitness subscription technology company. It is an integrated health and fitness platform, designed to connect proprietary software, experiential content, and interactive hardware to deliver an unmatched connected fitness experience. It has two segments. The Interactive Fitness Products segment, which is the key revenue driver, derives revenue from the sale of the treadmills, bikes, ellipticals, rowers, climbers, strength equipment, fitness mirrors, yoga equipment, and accessories. The Subscription segment derives revenue from iFIT subscriptions and the sale of extended warranties on the fitness equipment.