Teekay Tankers (Teekay Tankers) Long-Term Capital Lease Obligation : $160 Mil (As of Dec. 2023)

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What is Teekay Tankers Long-Term Capital Lease Obligation?

Teekay Tankers's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $160 Mil.

Teekay Tankers's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($233 Mil) to Sep. 2023 ($171 Mil) and declined from Sep. 2023 ($171 Mil) to Dec. 2023 ($160 Mil).

Teekay Tankers's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($272 Mil) to Dec. 2022 ($499 Mil) but then declined from Dec. 2022 ($499 Mil) to Dec. 2023 ($160 Mil).

Teekay Tankers Long-Term Capital Lease Obligation Historical Data

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

Teekay Tankers Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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392.70

281.88

272.32

499.46

159.51

Teekay Tankers Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															499.46	377.42	233.11	171.46	159.51

Teekay Tankers (NYSE:TNK) 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.

Teekay Tankers Long-Term Capital Lease Obligation Related Terms

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Teekay Tankers (Teekay Tankers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Teekay Tankers Ltd (NYSE:TNK) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

3TKA:Germany

Address

69 Pitts Bay Road, 4th Floor, Belvedere Building, Hamilton, BMU, HM 08

Website

https://www.teekay.com

Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.