African Minerals (LSE:AMI) Long-Term Capital Lease Obligation : £0.0 Mil (As of Jun. 2014)

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What is African Minerals Long-Term Capital Lease Obligation?

African Minerals's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2014 was £0.0 Mil.

African Minerals Long-Term Capital Lease Obligation Historical Data

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

African Minerals Annual Data

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Long-Term Capital Lease Obligation

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African Minerals Semi-Annual Data
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African Minerals (LSE:AMI) 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.

African Minerals Long-Term Capital Lease Obligation Related Terms

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African Minerals (LSE:AMI) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » African Minerals Ltd (LSE:AMI) » Definitions » Long-Term Capital Lease Obligation

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Address

Stratton House, 5 Stratton Street, London, GBR, W1J 8LA

Website

http://www.african-minerals.com

African Minerals Ltd is a mineral exploration and development company. It is engaged in the development, design, construction, and operation of iron ore deposit at Tonkolili, Sierra Leone, and its related rail and port infrastructure. In addition, it is also involved in the marketing and sale of the iron ore produced from this project.

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