Meikles (LSE:MIK) Long-Term Capital Lease Obligation : $63 Mil (As of Aug. 2023)

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What is Meikles Long-Term Capital Lease Obligation?

Meikles's Long-Term Capital Lease Obligation for the quarter that ended in Aug. 2023 was $63 Mil.

Meikles's quarterly Long-Term Capital Lease Obligation declined from Mar. 2022 ($10 Mil) to Sep. 2022 ($8 Mil) but then increased from Sep. 2022 ($8 Mil) to Aug. 2023 ($63 Mil).

Meikles's annual Long-Term Capital Lease Obligation increased from Mar. 2019 ($0 Mil) to Mar. 2020 ($1 Mil) and increased from Mar. 2020 ($1 Mil) to Mar. 2021 ($3 Mil).

Meikles Long-Term Capital Lease Obligation Historical Data

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

Meikles Annual Data

Trend

Dec08

Dec09

Mar11

Mar12

Mar19

Mar20

Mar21

Long-Term Capital Lease Obligation

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0.97

2.86

Meikles Semi-Annual Data
	Dec09	Mar11	Mar12	Sep12	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Aug23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial									2.86	2.06	9.56	7.69	63.36

Meikles (LSE:MIK) 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.

Meikles Long-Term Capital Lease Obligation Related Terms

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Meikles (LSE:MIK) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Meikles Ltd (LSE:MIK) » Definitions » Long-Term Capital Lease Obligation

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MEIK.ZW:Zimbabwe

Address

4 Steppes Road, Highlands, Harare, ZWE

Website

https://www.meiklesltd.com

Meikles Ltd is a Zimbabwe-based investment holding company. Its business segments include Supermarkets, Hotels, properties, and security guard operations. It is organized into two geographical segments, Zimbabwe, and non-Zimbabwe. The majority of its revenue is generated from the Supermarkets segment within Zimbabwe.