Stearman Resources (XCNQ:STMN) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Feb. 2024)

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What is Stearman Resources Long-Term Capital Lease Obligation?

Stearman Resources's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2024 was C$0.00 Mil.

Stearman Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Stearman Resources'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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Stearman Resources Long-Term Capital Lease Obligation Chart

Stearman Resources Annual Data

Trend

Aug22

Aug23

Long-Term Capital Lease Obligation

Stearman Resources Quarterly Data
	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
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Stearman Resources (XCNQ:STMN) 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.

Stearman Resources Long-Term Capital Lease Obligation Related Terms

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Stearman Resources (XCNQ:STMN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Stearman Resources Inc (XCNQ:STMN) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

422 Richards Street, Suite 170, Vancouver, BC, CAN, V6B 2Z4

Website

Stearman Resources Inc is engaged in the business of the acquisition, exploration, and development of mineral resource properties. The company's sole mineral property interest is the Miniac Option on the Miniac Property located in the northern Abitbi region of Quebec.

Executives

Steve Mathiesen

Director

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