Gulf Insurance Group (SAU:8250) Long-Term Capital Lease Obligation : ﷼30 Mil (As of Mar. 2024)

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

Gulf Insurance Group's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ﷼30 Mil.

Gulf Insurance Group's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (﷼25 Mil) to Dec. 2023 (﷼26 Mil) and increased from Dec. 2023 (﷼26 Mil) to Mar. 2024 (﷼30 Mil).

Gulf Insurance Group's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (﷼17 Mil) to Dec. 2022 (﷼14 Mil) but then increased from Dec. 2022 (﷼14 Mil) to Dec. 2023 (﷼26 Mil).

Gulf Insurance Group Long-Term Capital Lease Obligation Historical Data

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

Gulf Insurance Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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24.27

19.41

17.00

14.47

25.50

Gulf Insurance Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															15.45	15.64	25.09	25.50	29.91

Gulf Insurance Group (SAU:8250) 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.

Gulf Insurance Group Long-Term Capital Lease Obligation Related Terms

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Gulf Insurance Group (SAU:8250) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Gulf Insurance Group (SAU:8250) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

King Abdullah Road, P.O. Box 753, Al Nuzha District, Riyadh, SAU, 11421

Website

https://www.gig.sa

Gulf Insurance Group operates in the insurance industry. The company's line of business includes health, motor, marine, property, engineering, accident, liability, and protection insurance. It has various segments which include Motor, Property and Casualty, Health, and Protection. The majority of the revenue is generated from its Motor insurance segment which is intended to compensate the policyholder for damage to the vehicle or liability to third parties due to an accident.

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