China Pacific Insurance (Group) Co (China Pacific Insurance (Group) Co) Long-Term Capital Lease Obligation : $433 Mil (As of Dec. 2023)

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What is China Pacific Insurance (Group) Co Long-Term Capital Lease Obligation?

China Pacific Insurance (Group) Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $433 Mil.

China Pacific Insurance (Group) Co's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($335 Mil) to Sep. 2023 ($304 Mil) but then increased from Sep. 2023 ($304 Mil) to Dec. 2023 ($433 Mil).

China Pacific Insurance (Group) Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($487 Mil) to Dec. 2022 ($390 Mil) but then increased from Dec. 2022 ($390 Mil) to Dec. 2023 ($433 Mil).

China Pacific Insurance (Group) Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for China Pacific Insurance (Group) Co'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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China Pacific Insurance (Group) Co Long-Term Capital Lease Obligation Chart

China Pacific Insurance (Group) Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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522.98

524.52

487.50

389.86

433.46

China Pacific Insurance (Group) Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															389.86	368.60	335.13	304.06	433.46

China Pacific Insurance (Group) Co (OTCPK:CHPXF) 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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China Pacific Insurance (Group) Co (China Pacific Insurance (Group) Co) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » China Pacific Insurance (Group) Co Ltd (OTCPK:CHPXF) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

02601:Hong Kong CPIC:UK 75C:Germany 601601:China

Address

1 South Zhongshan Road, Huangpu, Shanghai, CHN, 200010

Website

https://www.cpic.com.cn

China Pacific Insurance was established in 1988, with headquarter in Beijing. The company is one of the largest providers of life and general insurance products and services. It is China's third-largest life insurer and third-largest general property and casualty insurer. The company strives for an integrated financial services platform that consists of insurance, banking, and asset management.