Virgin Money UK (LSE:VMUK) Long-Term Capital Lease Obligation : £0 Mil (As of Sep. 2023)

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What is Virgin Money UK Long-Term Capital Lease Obligation?

Virgin Money UK's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was £0 Mil.

Virgin Money UK Long-Term Capital Lease Obligation Historical Data

The historical data trend for Virgin Money UK'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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Virgin Money UK Long-Term Capital Lease Obligation Chart

Virgin Money UK Annual Data

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Long-Term Capital Lease Obligation

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Virgin Money UK Semi-Annual Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	-

Virgin Money UK (LSE:VMUK) 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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Virgin Money UK (LSE:VMUK) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Virgin Money UK PLC (LSE:VMUK) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

CYBBF:USA CBBYF:USA VMUKl:UK 42YA:Germany 42YB:Germany VUK:Australia

Address

177 Bothwell Street, Glasgow, GBR, G2 7ER

Website

https://www.virginmoneyukplc.com

Virgin Money UK was formed through the merger between CYBG PLC and Virgin Money. After being divested by National Australia Bank in 2016, CYBG went through a restructuring and recapitalization process, with mortgages accounting for around 75% of its loan book. Following CYBG's merger with Virgin Money, the loan book has been reshaped again, with mortgages now accounting for 79% of total loans, personal loans around 9%, and SME and business loans around 12%.

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