RigNet (RigNet) Long-Term Capital Lease Obligation : $5.8 Mil (As of Dec. 2020)

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What is RigNet Long-Term Capital Lease Obligation?

RigNet's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2020 was $5.8 Mil.

RigNet's quarterly Long-Term Capital Lease Obligation declined from Jun. 2020 ($6.1 Mil) to Sep. 2020 ($6.0 Mil) and declined from Sep. 2020 ($6.0 Mil) to Dec. 2020 ($5.8 Mil).

RigNet's annual Long-Term Capital Lease Obligation increased from Dec. 2018 ($0.0 Mil) to Dec. 2019 ($6.7 Mil) but then declined from Dec. 2019 ($6.7 Mil) to Dec. 2020 ($5.8 Mil).

RigNet Long-Term Capital Lease Obligation Historical Data

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

RigNet Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Long-Term Capital Lease Obligation

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0.34

6.71

5.75

RigNet Quarterly Data
	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															6.71	6.50	6.12	6.02	5.75

RigNet (NAS:RNET) 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.

RigNet Long-Term Capital Lease Obligation Related Terms

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RigNet (RigNet) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » RigNet Inc (NAS:RNET) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

15115 Park Row Boulevard, Suite 300, Houston, TX, USA, 77084-4947

Website

https://www.rig.net

RigNet Inc operates as a technology company that provides customized communications services, applications, real-time machine learning, and cybersecurity solutions. It operates through the following segments: The Managed Communications Services segment provides remote communications, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites; The Applications and Internet-of-Things segment focuses on the applications over-the-top of the Managed Services segment including Supervisory Control and Data Acquisition (SCADA) and Software as a Service (SaaS); The Systems Integration segment gives design and implementation services for customer telecommunications systems.

Executives

Brendan Sullivan	officer: CTO/CIO	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084
Steven Edward Pickett	director, officer: Chief Executive Officer	1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON TX 77077
Kevin C. Mulloy	director	9136 GOSHEN PARK PL GAITHERSBURG MD 20882
Vibe Ditlef De	director	1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON TX 77077
Kevin J Ohara	director	1025 ELDORADO BLVD BROOMFIELD CO 80021
Brent Whittington	director	4001 RODNEY PARHAM ROAD, LITTLE ROCK AR 72212
Keith Olsen	director	1715 NORTH WESTSHORE BOULEVARD SUITE 650 TAMPA FL 33607
James H Browning	director	3760 JARDIN, HOUSTON TX 77005
Lee Michael Ahlstrom	officer: Senior Vice President & CFO	4703 DERBYWOOD GLEN LANE, KATY TX 77494
Egbert Carver Clarke	officer: SVP Global Operations	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084
Barnett James Arden Jr	officer: SVP of Government Services	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084
Benjamin Andrew Carter	officer: PAO	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084
Edward Traupman	officer: SVP - Products and Services	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084
Brad Eastman	officer: Senior VP & General Counsel	1360 POST OAK BOULEVARD SUITE 2100 HOUSTON TX 77056
Errol James Olivier	officer: SVP & Chief Operating Officer	15115 PARK ROW BLVD SUITE 300 HOUSTON TX 77084