INVX (Innovex International) Long-Term Capital Lease Obligation : $31.4 Mil (As of Sep. 2023)

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What is Innovex International Long-Term Capital Lease Obligation?

Innovex International's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $31.4 Mil.

Innovex International's quarterly Long-Term Capital Lease Obligation increased from Sep. 2022 ($0.0 Mil) to Dec. 2022 ($23.5 Mil) and increased from Dec. 2022 ($23.5 Mil) to Sep. 2023 ($31.4 Mil).

Innovex International's annual Long-Term Capital Lease Obligation increased from . 20 ($0.0 Mil) to Dec. 2021 ($2.2 Mil) and increased from Dec. 2021 ($2.2 Mil) to Dec. 2022 ($23.5 Mil).

Innovex International Long-Term Capital Lease Obligation Historical Data

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

Innovex International Annual Data

Trend

Dec21

Dec22

Long-Term Capital Lease Obligation

2.19

23.52

Innovex International Quarterly Data
	Dec21	Sep22	Dec22	Sep23
Long-Term Capital Lease Obligation	2.19	-	23.52	31.41

Innovex International (NYSE:INVX) 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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Innovex International Business Description

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Innovex Downhole Solutions Inc designs, manufactures, sells and rents mission critical engineered products to the global oil and natural gas industry. Its products include Well head system, Drilling and development, Well construction, Well completion, Production solution and fishing and intervention.

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