Shift Technologies (Shift Technologies) Long-Term Capital Lease Obligation : $17.6 Mil (As of Jun. 2023)

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What is Shift Technologies Long-Term Capital Lease Obligation?

Shift Technologies's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $17.6 Mil.

Shift Technologies's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 ($49.0 Mil) to Mar. 2023 ($28.7 Mil) and declined from Mar. 2023 ($28.7 Mil) to Jun. 2023 ($17.6 Mil).

Shift Technologies's annual Long-Term Capital Lease Obligation stayed the same from Dec. 2020 ($0.0 Mil) to Dec. 2021 ($0.0 Mil) but then increased from Dec. 2021 ($0.0 Mil) to Dec. 2022 ($49.0 Mil).

Shift Technologies Long-Term Capital Lease Obligation Historical Data

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

Shift Technologies Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

48.97

Shift Technologies Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial											34.81	31.87	48.97	28.74	17.57

Shift Technologies (OTCPK:SFTGQ) 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.

Shift Technologies Long-Term Capital Lease Obligation Related Terms

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Shift Technologies (Shift Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Shift Technologies Inc (OTCPK:SFTGQ) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

290 Division Street, Suite 400, San Francisco, CA, USA, 94103-4893

Website

https://www.shift.com

Shift Technologies Inc is an end-to-end auto e-commerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The company makes car purchase and ownership simple - making buying or selling a used car fun, fair, and accessible to everyone. It provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive brought to you before buying the car, a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. It operates in two segments: Retail and Wholesale, of which the majority of its revenue comes from Retail.

Executives

Kimberly H. Sheehy	director	C/O SWITCH, INC., 7135 SOUTH DECATUR BOULEVARD, LAS VEGAS NV 89118
Jason Travis Curtis	officer: Chief Accounting Officer	2425 WEST LOOP SOUTH, 11TH FLOOR, HOUSTON TX 77027
Maruthi Jd Venkata	10 percent owner	610 E ZACK ST, STE 110, TAMPA FL 33602
Ayman Moussa	director, officer: Chief Executive Officer	C/O SHIFT TECHNOLOGIES, INC., 290 DIVISION ST. #400, SAN FRANCISCO CA 94103
James E Skinner	director	NEIMAN MARCUS GROUP, 1618 MAIN ST, DALLAS TX 75201
Aizpuru Luis Igancio Solorzano	director	1345 AVENUE OF THE AMERICAS 11TH FL, NEW YORK NY 10105
Jeff Clementz	officer: President	CO SHIFT TECHNOLOGIES, 290 DIVISION ST STE 400, SAN FRANCISCO CA 94103-4893
Ryan Lawrence	officer: General Counsel	1405 LAKE COOK ROAD, DEERFIELD IL 60015
Oded Shein	officer: CFO	10201 MAIN STREET, HOUSTON TX 77025
George Arison	director, officer: Co-CEO & Chairman of the Board	3727 LA DONNA AVENUE, PALO ALTO CA 94306
Sean Foy	officer: Chief Operating Officer	1915 HAYES LANE, SAN MARTIN CA 95046
Victoria Mcinnis	director	C/O VECTOIQ ACQUISITION CORP., 1354 FLAGLER DRIVE, MAMARONECK NY 10543
Blima Tuller	officer: Chief Revenue Officer	C/O THE RUBICON PROJECT, INC., 12181 BLUFF CREEK DRIVE, 4TH FL, LOS ANGELES CA 90094
Lithia Motors Inc	10 percent owner	150 NORTH BARTLETT STREET, MEDFORD OR 97501
Manish Patel	director	330 MISSION BAY BLVD N, #802, SAN FRANCISCO CA 94158