CIC Insurance Group (NAI:CIC) Long-Term Capital Lease Obligation : KES263 Mil (As of Dec. 2022)

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What is CIC Insurance Group Long-Term Capital Lease Obligation?

CIC Insurance Group's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2022 was KES263 Mil.

CIC Insurance Group's quarterly Long-Term Capital Lease Obligation declined from Dec. 2020 (KES206 Mil) to Dec. 2021 (KES167 Mil) but then increased from Dec. 2021 (KES167 Mil) to Dec. 2022 (KES263 Mil).

CIC Insurance Group's annual Long-Term Capital Lease Obligation declined from Dec. 2020 (KES206 Mil) to Dec. 2021 (KES167 Mil) but then increased from Dec. 2021 (KES167 Mil) to Dec. 2022 (KES263 Mil).

CIC Insurance Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for CIC Insurance Group'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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CIC Insurance Group Long-Term Capital Lease Obligation Chart

CIC Insurance Group Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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32.44

193.19

205.94

167.03

263.18

CIC Insurance Group Semi-Annual Data
	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial							32.44	193.19	205.94	167.03	263.18

CIC Insurance Group (NAI:CIC) 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.

CIC Insurance Group Long-Term Capital Lease Obligation Related Terms

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CIC Insurance Group (NAI:CIC) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » CIC Insurance Group Ltd (NAI:CIC) » Definitions » Long-Term Capital Lease Obligation

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Address

Mara Road, Upper Hill, P.O. Box 59485, CIC Plaza, Nairobi, KEN, 00200

Website

https://cic.co.ke

CIC Insurance Group Ltd is an insurance company. The Group's reportable segments are long-term business, general insurance business, asset management and other. Its product portfolio consists of General insurance, Life assurance, Health insurance, and Asset management services. It takes the risk for retail, Cooperative societies, and corporate entities.

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