New Horizon Aircraft (New Horizon Aircraft) Long-Term Capital Lease Obligation : $0.06 Mil (As of May. 2023)

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What is New Horizon Aircraft Long-Term Capital Lease Obligation?

New Horizon Aircraft's Long-Term Capital Lease Obligation for the quarter that ended in May. 2023 was $0.06 Mil.

New Horizon Aircraft's quarterly Long-Term Capital Lease Obligation increased from . 20 ($0.00 Mil) to May. 2022 ($0.10 Mil) but then declined from May. 2022 ($0.10 Mil) to May. 2023 ($0.06 Mil).

New Horizon Aircraft's annual Long-Term Capital Lease Obligation increased from . 20 ($0.00 Mil) to May. 2022 ($0.10 Mil) but then declined from May. 2022 ($0.10 Mil) to May. 2023 ($0.06 Mil).

New Horizon Aircraft Long-Term Capital Lease Obligation Historical Data

The historical data trend for New Horizon Aircraft'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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New Horizon Aircraft Long-Term Capital Lease Obligation Chart

New Horizon Aircraft Annual Data

Trend

May22

May23

Long-Term Capital Lease Obligation

0.10

0.06

New Horizon Aircraft Semi-Annual Data
	May22	May23
Long-Term Capital Lease Obligation	0.10	0.06

New Horizon Aircraft (NAS:HOVR) 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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New Horizon Aircraft (New Horizon Aircraft) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » New Horizon Aircraft Ltd (NAS:HOVR) » Definitions » Long-Term Capital Lease Obligation

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Address

3187 Highway 35, Lindsay, ON, CAN, K9V 4R1

Website

New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

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