Titan Logix (TSXV:TLA) Long-Term Capital Lease Obligation : C$0.68 Mil (As of Feb. 2024)

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What is Titan Logix Long-Term Capital Lease Obligation?

Titan Logix's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2024 was C$0.68 Mil.

Titan Logix's quarterly Long-Term Capital Lease Obligation declined from Aug. 2023 (C$0.68 Mil) to Nov. 2023 (C$0.65 Mil) but then increased from Nov. 2023 (C$0.65 Mil) to Feb. 2024 (C$0.68 Mil).

Titan Logix's annual Long-Term Capital Lease Obligation declined from Aug. 2021 (C$0.25 Mil) to Aug. 2022 (C$0.12 Mil) but then increased from Aug. 2022 (C$0.12 Mil) to Aug. 2023 (C$0.68 Mil).

Titan Logix Long-Term Capital Lease Obligation Historical Data

The historical data trend for Titan Logix'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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Titan Logix Long-Term Capital Lease Obligation Chart

Titan Logix Annual Data

Trend

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Long-Term Capital Lease Obligation

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0.38

0.25

0.12

0.68

Titan Logix Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.05	0.01	0.68	0.65	0.68

Titan Logix (TSXV:TLA) 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.

Titan Logix Long-Term Capital Lease Obligation Related Terms

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Titan Logix (TSXV:TLA) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Titan Logix Corp (TSXV:TLA) » Definitions » Long-Term Capital Lease Obligation

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TPCFF:USA

Address

4130 - 93rd Street, Edmonton, AB, CAN, T6E 5P5

Website

https://www.titanlogix.com

Titan Logix Corp designs and manufactures mobile liquid measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquid transportation. Titan's TD Series of tank-level monitors are known for their high level of accuracy, rugged design, and solid-state reliability. The solutions are designed for hazardous and non-hazardous applications and serve customers in a wide range of applications including petroleum, environmental solutions, chemical and agriculture. The company predominantly operates in two geographic regions that is Canada and the United States. It derives majority of its revenue from its business in the United States.

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