CubicFarm Systems (CubicFarm Systems) Long-Term Capital Lease Obligation : $2.26 Mil (As of Sep. 2023)

View and export this data going back to 2019. Start your Free Trial

What is CubicFarm Systems Long-Term Capital Lease Obligation?

CubicFarm Systems's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $2.26 Mil.

CubicFarm Systems's quarterly Long-Term Capital Lease Obligation declined from Mar. 2023 ($1.49 Mil) to Jun. 2023 ($0.84 Mil) but then increased from Jun. 2023 ($0.84 Mil) to Sep. 2023 ($2.26 Mil).

CubicFarm Systems's annual Long-Term Capital Lease Obligation increased from Jun. 2020 ($0.90 Mil) to Dec. 2021 ($1.48 Mil) and increased from Dec. 2021 ($1.48 Mil) to Dec. 2022 ($1.66 Mil).

CubicFarm Systems Long-Term Capital Lease Obligation Historical Data

The historical data trend for CubicFarm Systems'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.

* Premium members only.

CubicFarm Systems Long-Term Capital Lease Obligation Chart

CubicFarm Systems Annual Data

Trend

Jun18

Jun19

Jun20

Dec21

Dec22

Long-Term Capital Lease Obligation

0.90

1.48

1.66

CubicFarm Systems Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.46	1.66	1.49	0.84	2.26

CubicFarm Systems (OTCPK:CUBXF) 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.

CubicFarm Systems Long-Term Capital Lease Obligation Related Terms

Thank you for viewing the detailed overview of CubicFarm Systems's Long-Term Capital Lease Obligation provided by GuruFocus.com. Please click on the following links to see related term pages.

CubicFarm Systems (CubicFarm Systems) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » CubicFarm Systems Corp (OTCPK:CUBXF) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

CUB:Canada

Address

7170 Glover Road, Langley, BC, CAN, V2Y 2R1

Website

https://www.cubicfarms.com

CubicFarm Systems Corp is an ag-tech company providing automated growing systems for fresh produce and animal feed using HydroGreen Nutrition Technology. It offers turnkey, commercial scale, hydroponic, localized food supply solution automated controlled-environment growing systems that can grow predictably and sustainably anywhere on earth. The company enables its customers to grow locally and to provide their markets with safe, sustainable, secure, and fresh ingredients that are consistent in color, size, taste, and nutrition and allows for longer shelf life. The Company has patented technology for auto harvesting and processing methods for growing leafy greens and other crops onsite, indoors, all year round.