Cummins (LTS:0I58) Long-Term Capital Lease Obligation : $393 Mil (As of Sep. 2024)

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What is Cummins Long-Term Capital Lease Obligation?

Cummins's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2024 was $393 Mil.

Cummins's quarterly Long-Term Capital Lease Obligation increased from Mar. 2024 ($332 Mil) to Jun. 2024 ($333 Mil) and increased from Jun. 2024 ($333 Mil) to Sep. 2024 ($393 Mil).

Cummins's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($326 Mil) to Dec. 2022 ($368 Mil) and increased from Dec. 2022 ($368 Mil) to Dec. 2023 ($374 Mil).

Cummins Long-Term Capital Lease Obligation Historical Data

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

Cummins Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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370.00

325.00

326.00

368.00

374.00

Cummins Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															373.00	374.00	332.00	333.00	393.00

Cummins (LTS:0I58) 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.

Cummins Long-Term Capital Lease Obligation Related Terms

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Cummins Business Description

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Address

500 Jackson Street, Box 3005, Columbus, IN, USA, 47202-3005

Website

https://www.cummins.com

Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway machinery, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.

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