Combined Group Contracting K C (KUW:CGC) Long-Term Capital Lease Obligation : KWD0.3 Mil (As of Mar. 2024)

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What is Combined Group Contracting K C Long-Term Capital Lease Obligation?

Combined Group Contracting K C's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was KWD0.3 Mil.

Combined Group Contracting K C's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (KWD0.2 Mil) to Dec. 2023 (KWD0.1 Mil) but then increased from Dec. 2023 (KWD0.1 Mil) to Mar. 2024 (KWD0.3 Mil).

Combined Group Contracting K C's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (KWD0.5 Mil) to Dec. 2022 (KWD0.3 Mil) and declined from Dec. 2022 (KWD0.3 Mil) to Dec. 2023 (KWD0.1 Mil).

Combined Group Contracting K C Long-Term Capital Lease Obligation Historical Data

The historical data trend for Combined Group Contracting K C'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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Combined Group Contracting K C Long-Term Capital Lease Obligation Chart

Combined Group Contracting K C Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1.33

1.06

0.51

0.25

0.14

Combined Group Contracting K C Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.28	0.19	0.16	0.14	0.25

Combined Group Contracting K C (KUW:CGC) 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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Combined Group Contracting K C (KUW:CGC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Combined Group Contracting SA K C (KUW:CGC) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

Al Ardiya Industrial, P.O. Box : 4819, Block No. 2, Plot No. 284, Kuwait City, KWT, 13049

Website

https://www.cgc-kw.com

Combined Group Contracting SA K C is a Kuwait-based company engaged in the construction industry. It undertakes general contracting, mechanical works, engineering works; packaging cement, sand, and related materials; Asphalt production, constructions works of building, ways, bridges and managing, controlling them and their related works and many other activities. The group has the operations in State of Kuwait and Gulf Countries of which it earns the majority of revenue share from Kuwait region.