MGDDY (Michelin) Long-Term Capital Lease Obligation : $770 Mil (As of Jun. 2024)

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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 Jun. 2024 was $770 Mil.

Michelin's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 ($746 Mil) to Dec. 2023 ($805 Mil) but then declined from Dec. 2023 ($805 Mil) to Jun. 2024 ($770 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.

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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

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996.67

974.45

825.99

730.93

804.80

Michelin Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															763.21	730.93	746.48	804.80	769.65

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 Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Michelin (OTCPK:MGDDY) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

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 segments. The Specialty businesses include the Mining, Beyond-road, Two-wheel and Aircraft tire activities, as well as the High-Tech Materials activities. The Services & Solutions businesses are included for the most part in the "Road transportation and related distribution" segment.