McRae Industries (McRae Industries) Long-Term Capital Lease Obligation : $1.9 Mil (As of Jul. 2023)

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What is McRae Industries Long-Term Capital Lease Obligation?

McRae Industries's Long-Term Capital Lease Obligation for the quarter that ended in Jul. 2023 was $1.9 Mil.

McRae Industries's quarterly Long-Term Capital Lease Obligation stayed the same from Jul. 2021 ($0.0 Mil) to Jul. 2022 ($0.0 Mil) but then increased from Jul. 2022 ($0.0 Mil) to Jul. 2023 ($1.9 Mil).

McRae Industries's annual Long-Term Capital Lease Obligation stayed the same from Jul. 2021 ($0.0 Mil) to Jul. 2022 ($0.0 Mil) but then increased from Jul. 2022 ($0.0 Mil) to Jul. 2023 ($1.9 Mil).

McRae Industries Long-Term Capital Lease Obligation Historical Data

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

McRae Industries Annual Data

Trend

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Long-Term Capital Lease Obligation

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1.93

McRae Industries Semi-Annual Data
	Jul89	Jul90	Jul91	Jul92	Jul93	Jul94	Jul95	Jul96	Jul97	Jul98	Jul99	Jul00	Jul01	Jul02	Jul03	Jul04	Jul05	Jul21	Jul22	Jul23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	1.93

McRae Industries (OTCPK:MCRAA) 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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McRae Industries (McRae Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » McRae Industries Inc (OTCPK:MCRAA) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

MCRAB:USA

Address

400 North Main Street, P.O. Box 1239, Mount Gilead, NC, USA, 27306

Website

http://www.mcraeindustries.com

McRae Industries Inc operates in the footwear industry. Its principal lines of business are manufacturing and selling military combat boots and importing and selling western and work boots. It operates through the Western and Lifestyle Segments. The Western and Lifestyle segment, which is the key revenue driver, includes western, ladies fashion, and children's footwear products under the Dan Post, Dingo, and Laredo Western Boots brand names.