Petrofac (LSE:PFC) Long-Term Capital Lease Obligation : £79 Mil (As of Jun. 2023)

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What is Petrofac Long-Term Capital Lease Obligation?

Petrofac's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was £79 Mil.

Petrofac's quarterly Long-Term Capital Lease Obligation declined from Jun. 2022 (£138 Mil) to Dec. 2022 (£118 Mil) and declined from Dec. 2022 (£118 Mil) to Jun. 2023 (£79 Mil).

Petrofac's annual Long-Term Capital Lease Obligation increased from Dec. 2020 (£121 Mil) to Dec. 2021 (£143 Mil) but then declined from Dec. 2021 (£143 Mil) to Dec. 2022 (£118 Mil).

Petrofac Long-Term Capital Lease Obligation Historical Data

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

Petrofac Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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267.81

121.27

142.88

118.22

Petrofac Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															152.58	142.88	138.04	118.22	79.20

Petrofac (LSE:PFC) 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.

Petrofac Long-Term Capital Lease Obligation Related Terms

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Petrofac (LSE:PFC) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Petrofac Ltd (LSE:PFC) » Definitions » Long-Term Capital Lease Obligation

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Address

26 New Street, St Helier, JEY, JE2 3RA

Website

https://www.petrofac.com

Petrofac Ltd provides engineering and construction services to the oil and gas production and processing industry. It designs, builds, operates and maintains oil and gas facilities. The operating segments of the company include Engineering and Construction, Asset solutions, and Integrated energy services. It derives the majority of the revenue from Engineering and Construction which provides fixed-price engineering, procurement and construction project execution services and reimbursable engineering, procurement and construction management services to the onshore and offshore oil and gas industry. The company operates worldwide and generates most of its revenue from the United kingdom.