First Asset CanBanc Split (TSX:CBU.PR.A.PFD) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Jun. 2015)

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What is First Asset CanBanc Split Long-Term Capital Lease Obligation?

First Asset CanBanc Split's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2015 was C$0.00 Mil.

First Asset CanBanc Split Long-Term Capital Lease Obligation Historical Data

The historical data trend for First Asset CanBanc Split'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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First Asset CanBanc Split Long-Term Capital Lease Obligation Chart

First Asset CanBanc Split Annual Data

Trend

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Long-Term Capital Lease Obligation

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First Asset CanBanc Split Semi-Annual Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial								-	-	-	-	-

First Asset CanBanc Split (TSX:CBU.PR.A.PFD) 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.

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First Asset CanBanc Split (TSX:CBU.PR.A.PFD) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » First Asset CanBanc Split Corp (TSX:CBU.PR.A.PFD) » Definitions » Long-Term Capital Lease Obligation

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http://www.firstasset.com

First Asset CanBanc Split Corp was incorporated under the laws of the Province of Ontario on September 5, 2008, is a mutual fund corporation whose investment portfolio consists of common shares of the six largest Canadian banks. The Fund's objectives in managing its capital with respect to the preferred shares are to provide preferred shareholders with fixed cumulative preferential quarterly cash distributions in the amount of $0.1625 per preferred share and to return the original issue price to preferred shareholders at the time of redemption of such shares on or about January 15, 2016. The Fund's objectives in managing its capital with respect to the Class A shares are to provide Class A shareholders with the opportunity to participate in the performance of the Fund's portfolio on a leveraged basis and to benefit from any increase in the dividends from the securities in the Fund's portfolio.

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