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Michelin (Michelin) Long-Term Capital Lease Obligation : $805 Mil (As of Dec. 2023)


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What is Michelin Long-Term Capital Lease Obligation?

Michelin's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $805 Mil.

Michelin's quarterly Long-Term Capital Lease Obligation increased from Dec. 2022 ($731 Mil) to Jun. 2023 ($746 Mil) and increased from Jun. 2023 ($746 Mil) to Dec. 2023 ($805 Mil).

Michelin's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($826 Mil) to Dec. 2022 ($731 Mil) but then increased from Dec. 2022 ($731 Mil) to Dec. 2023 ($805 Mil).

Michelin Long-Term Capital Lease Obligation Historical Data

The historical data trend for Michelin'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.

* Premium members only.

Michelin Long-Term Capital Lease Obligation Chart

Michelin Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Long-Term Capital Lease Obligation
Get a 7-Day Free Trial Premium Member Only Premium Member Only 996.67 974.45 825.99 730.93 804.80

Michelin Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Long-Term Capital Lease Obligation Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 825.99 763.21 730.93 746.48 804.80

Michelin  (OTCPK:MGDDY) 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.

Michelin Long-Term Capital Lease Obligation Related Terms

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Michelin (Michelin) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Michelin (OTCPK:MGDDY) » Definitions » Long-Term Capital Lease Obligation
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XPAR:FRVIA XPAR:FR XPAR:POM XPAR:BUR XPAR:AKW XPAR:ALDEL XPAR:ALATI XPAR:PVL TSE:6902 TSE:5108 MBLY GPC APTV SHSE:600660 XKRX:012330 TSX:MG XTER:CON ISX:ASII XTER:KBX TSE:5802
Traded in Other Exchanges
MGDDF:USA MLp:UK 0OFM:UK ML:France MCHA:Germany
Address
23, Place des Carmes, Dechaux, Puy-de-Dome, Clermont-Ferrand, FRA, 63000
Website
https://www.michelin.com
Michelin manufactures tires for passenger vehicles. The company also makes tires for all types of commercial vehicles as well as bicycle, motorcycle, earthmover, aviation, and agricultural tires. Its operations are organized into three operating segments namely Automotive and related distribution; Road transportation and related distribution; Specialty businesses and related distribution. The company generates maximum revenue from Automotive and related distribution segment.