Cintas (FRA:CIT) Long-Term Capital Lease Obligation : €135 Mil (As of Feb. 2024)

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What is Cintas Long-Term Capital Lease Obligation?

Cintas's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2024 was €135 Mil.

Cintas's quarterly Long-Term Capital Lease Obligation declined from Aug. 2023 (€130 Mil) to Nov. 2023 (€128 Mil) but then increased from Nov. 2023 (€128 Mil) to Feb. 2024 (€135 Mil).

Cintas's annual Long-Term Capital Lease Obligation increased from May. 2021 (€108 Mil) to May. 2022 (€122 Mil) and increased from May. 2022 (€122 Mil) to May. 2023 (€127 Mil).

Cintas Long-Term Capital Lease Obligation Historical Data

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

Cintas Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

Long-Term Capital Lease Obligation

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112.51

107.63

122.10

127.22

Cintas Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															129.93	127.22	129.72	128.38	135.40

Cintas (FRA:CIT) 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.

Cintas Long-Term Capital Lease Obligation Related Terms

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Cintas (FRA:CIT) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Cintas Corp (FRA:CIT) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

CTAS:USA CTAS:Mexico CIT:Germany CTAS:Austria

Address

6800 Cintas Boulevard, P.O. Box 625737, Cincinnati, OH, USA, 45262-5737

Website

https://www.cintas.com

Cintas is positioned as a one-stop shop that rents/sells uniforms and ancillary products and services, such as mops, first aid kits, and fire inspections. In its core uniform and facility services unit (a majority of sales), Cintas provides uniform rental programs for items including office attire, custom-tailored apparel, flame-resistant clothing, lab coats, and other profession-specific clothing. Facilities products generally include the rental and sale of entrance mats, mops, shop towels, hand sanitizers, and restroom supplies. Cintas' remaining businesses include first aid and safety services, fire protection services, and uniform direct sales.