Sinopec Oilfield Service (SHSE:600871) Long-Term Capital Lease Obligation : ¥480 Mil (As of Mar. 2024)

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What is Sinopec Oilfield Service Long-Term Capital Lease Obligation?

Sinopec Oilfield Service's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥480 Mil.

Sinopec Oilfield Service's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (¥305 Mil) to Dec. 2023 (¥317 Mil) and increased from Dec. 2023 (¥317 Mil) to Mar. 2024 (¥480 Mil).

Sinopec Oilfield Service's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (¥391 Mil) to Dec. 2022 (¥497 Mil) but then declined from Dec. 2022 (¥497 Mil) to Dec. 2023 (¥317 Mil).

Sinopec Oilfield Service Long-Term Capital Lease Obligation Historical Data

The historical data trend for Sinopec Oilfield Service'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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Sinopec Oilfield Service Long-Term Capital Lease Obligation Chart

Sinopec Oilfield Service Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1,134.75

898.47

390.87

497.05

317.12

Sinopec Oilfield Service 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															444.42	366.76	304.67	317.12	480.42

Sinopec Oilfield Service (SHSE:600871) 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.

Sinopec Oilfield Service Long-Term Capital Lease Obligation Related Terms

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Sinopec Oilfield Service (SHSE:600871) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Sinopec Oilfield Service Corp (SHSE:600871) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

YZCFF:USA 01033:Hong Kong YIZH:Germany

Address

No. 9 Jishikou Road, Changyang District, Beijing, CHN, 100728

Website

https://ssc.sinopec.com

Sinopec Oilfield Service Corp engages in the provision of onshore and offshore oil and natural gas, exploration, provision of contracting, design, and construction services for the oil and gas projects. It operates through five segments: Geophysics, which provides technical and development, exploration geophysical services; Drilling engineering segment, which provides drilling design, and construction, technical services; Logging and mud logging segment; Special downhole segment, which provides oil engineering technical and construction services; and Engineering construction segment, which provides a package of services, including feasibility studies, procurement, and others. Its geographical segments are, The PRC, Middle East and Other countries.

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