North Coast Life Insurance Co (North Coast Life Insurance Co) Long-Term Capital Lease Obligation : $0.00 Mil (As of Dec. 2006)

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What is North Coast Life Insurance Co Long-Term Capital Lease Obligation?

North Coast Life Insurance Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2006 was $0.00 Mil.

North Coast Life Insurance Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for North Coast Life Insurance Co'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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North Coast Life Insurance Co Long-Term Capital Lease Obligation Chart

North Coast Life Insurance Co Annual Data

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Long-Term Capital Lease Obligation

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North Coast Life Insurance Co Quarterly Data
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North Coast Life Insurance Co (OTCPK:NCLIP.PFD) 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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North Coast Life Insurance Co (North Coast Life Insurance Co) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » North Coast Life Insurance Co (OTCPK:NCLIP.PFD) » Definitions » Long-Term Capital Lease Obligation

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Address

1116 West Riverside Avenue, Suite 205, Spokane, WA, USA, 99201

Website

http://www.nclife.com

North Coast Life Insurance Company is engaged in providing life insurance and annuity products. Its life insurance products includes versatile life, whole life, whole life IV, Whole life graded and life style term.

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