Axis Auto Finance (TSX:AXIS) Long-Term Capital Lease Obligation : C$0.27 Mil (As of Mar. 2024)

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What is Axis Auto Finance Long-Term Capital Lease Obligation?

Axis Auto Finance's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$0.27 Mil.

Axis Auto Finance's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (C$0.30 Mil) to Dec. 2023 (C$0.26 Mil) but then increased from Dec. 2023 (C$0.26 Mil) to Mar. 2024 (C$0.27 Mil).

Axis Auto Finance's annual Long-Term Capital Lease Obligation declined from Jun. 2021 (C$0.65 Mil) to Jun. 2022 (C$0.60 Mil) and declined from Jun. 2022 (C$0.60 Mil) to Jun. 2023 (C$0.35 Mil).

Axis Auto Finance Long-Term Capital Lease Obligation Historical Data

The historical data trend for Axis Auto Finance'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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Axis Auto Finance Long-Term Capital Lease Obligation Chart

Axis Auto Finance Annual Data

Trend

Apr14

Apr15

Apr16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Long-Term Capital Lease Obligation

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0.16

1.27

0.65

0.60

0.35

Axis Auto Finance 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															0.68	0.35	0.30	0.26	0.27

Axis Auto Finance (TSX:AXIS) 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.

Axis Auto Finance Long-Term Capital Lease Obligation Related Terms

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Axis Auto Finance (TSX:AXIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Axis Auto Finance Inc (TSX:AXIS) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

165 Galaxy Boulevard, 2nd Floor, Etobicoke, ON, CAN, M9W 0C8

Website

https://www.axisautofinance.com

Axis Auto Finance Inc is a fintech company that is changing the way used vehicles are purchased and financed in Canada. The company's direct-to-consumer website, DriveAxis.ca, enables users to choose their next used vehicle, customize financing terms, and get the car delivered to homes. In addition, the company continues to grow business-to-business non-prime auto loan originations by delivering innovative technology solutions and superior service to its dealer partners.

Executives

Todd Charles Hudson

Senior Officer

Axis Auto Finance (TSX:AXIS) Headlines

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