Tongxin International (Tongxin International) Long-Term Capital Lease Obligation : $0.00 Mil (As of Dec. 2010)

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What is Tongxin International Long-Term Capital Lease Obligation?

Tongxin International's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2010 was $0.00 Mil.

Tongxin International Long-Term Capital Lease Obligation Historical Data

The historical data trend for Tongxin International'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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Tongxin International Long-Term Capital Lease Obligation Chart

Tongxin International Annual Data

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Long-Term Capital Lease Obligation

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Tongxin International Semi-Annual Data
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Tongxin International (OTCPK:TXIC) 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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Tongxin International (Tongxin International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Tongxin International Ltd (OTCPK:TXIC) » Definitions » Long-Term Capital Lease Obligation

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Address

Hunan Tongxin, Changsha, Hunan Province, Jiangbei, CHN, 410135

Website

http://www.txicint.com

Tongxin International Ltd is an independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Further, the company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process.

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