Methaq Takaful Insurance Co PSC (ADX:METHAQ) Long-Term Capital Lease Obligation : د.إ0.0 Mil (As of Dec. 2020)

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What is Methaq Takaful Insurance Co PSC Long-Term Capital Lease Obligation?

Methaq Takaful Insurance Co PSC's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2020 was د.إ0.0 Mil.

Methaq Takaful Insurance Co PSC's annual Long-Term Capital Lease Obligation declined from Dec. 2018 (د.إ1.7 Mil) to Dec. 2019 (د.إ0.0 Mil) but then stayed the same from Dec. 2019 (د.إ0.0 Mil) to Dec. 2020 (د.إ0.0 Mil).

Methaq Takaful Insurance Co PSC Long-Term Capital Lease Obligation Historical Data

The historical data trend for Methaq Takaful Insurance Co PSC'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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Methaq Takaful Insurance Co PSC Long-Term Capital Lease Obligation Chart

Methaq Takaful Insurance Co PSC Annual Data

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Dec20

Long-Term Capital Lease Obligation

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3.43

1.71

Methaq Takaful Insurance Co PSC Quarterly Data
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Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	-	-

Methaq Takaful Insurance Co PSC (ADX:METHAQ) 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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Methaq Takaful Insurance Co PSC (ADX:METHAQ) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Methaq Takaful Insurance Co PSC (ADX:METHAQ) » Definitions » Long-Term Capital Lease Obligation

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Address

Delma 13th Street, Behind Judicial Court, P.O. Box 32774, Building Number: C54, Opposite Al Fara'a Co Tower, Abu Dhabi, ARE

Website

http://www.methaq.ae

Methaq Takaful Insurance Co PSC offers a range of insurance and reinsurance products and services to individuals and corporates. The objective of the company is to offer Individuals and Corporations a complete range of high quality, flexible, integrated, Shariah-compliant insurance products & services, in association with selected Distribution Partners. Its product line includes accident, travel, marine and air transport insurance and reinsurance products, among others.

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