Driver Group (LSE:DRV) Long-Term Capital Lease Obligation : £0.62 Mil (As of Sep. 2023)

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What is Driver Group Long-Term Capital Lease Obligation?

Driver Group's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was £0.62 Mil.

Driver Group's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 (£0.63 Mil) to Mar. 2023 (£0.11 Mil) but then increased from Mar. 2023 (£0.11 Mil) to Sep. 2023 (£0.62 Mil).

Driver Group's annual Long-Term Capital Lease Obligation declined from Sep. 2021 (£1.02 Mil) to Sep. 2022 (£0.63 Mil) and declined from Sep. 2022 (£0.63 Mil) to Sep. 2023 (£0.62 Mil).

Driver Group Long-Term Capital Lease Obligation Historical Data

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

Driver Group Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Long-Term Capital Lease Obligation

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1.04

1.02

0.63

0.62

Driver Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															1.02	1.07	0.63	0.11	0.62

Driver Group (LSE:DRV) 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.

Driver Group Long-Term Capital Lease Obligation Related Terms

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Driver Group (LSE:DRV) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Driver Group PLC (LSE:DRV) » Definitions » Long-Term Capital Lease Obligation

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Address

125 Old Broad Street, Suite 706-708, Floor 7, London, GBR, EC2N 1AR

Website

https://www.driver-group.com

Driver Group PLC provides consultancy services to the engineering and construction industries. The business activity of the group is primarily operated through divisions such as Europe and the Americas; Asia Pacific; Middle East. Geographically, it derives a majority of its revenue from the United Kingdom and can be seen across the region of Oman, France, Qatar, Germany, Kuwait, China, the US, Canada, and others. It offers quantity surveying, quantum and planning experts, litigation support, contract administration, and commercial advice/management services; and capital investment consultancy services, including development, project, and contracting management services.