Norandaome Fund (Norandaome Fund) Long-Term Capital Lease Obligation : $0.0 Mil (As of Sep. 2022)

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What is Norandaome Fund Long-Term Capital Lease Obligation?

Norandaome Fund's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2022 was $0.0 Mil.

Norandaome Fund Long-Term Capital Lease Obligation Historical Data

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

Norandaome Fund Annual Data

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Long-Term Capital Lease Obligation

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Norandaome Fund Quarterly Data
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Norandaome Fund (OTCPK:NNDIF) 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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Norandaome Fund (Norandaome Fund) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Noranda Income Fund (OTCPK:NNDIF) » Definitions » Long-Term Capital Lease Obligation

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Address

100 King Street West, First Canadian Place, Suite 6900, P.O. Box 403, Toronto, ON, CAN, M5X 1E3

Website

https://www.norandaincomefund.com

Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.