Novagold Resources (TSX:NG) Long-Term Capital Lease Obligation : C$0.77 Mil (As of Feb. 2024)

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What is Novagold Resources Long-Term Capital Lease Obligation?

Novagold Resources's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2024 was C$0.77 Mil.

Novagold Resources's quarterly Long-Term Capital Lease Obligation declined from Aug. 2023 (C$0.89 Mil) to Nov. 2023 (C$0.84 Mil) and declined from Nov. 2023 (C$0.84 Mil) to Feb. 2024 (C$0.77 Mil).

Novagold Resources's annual Long-Term Capital Lease Obligation increased from Nov. 2021 (C$0.23 Mil) to Nov. 2022 (C$1.08 Mil) but then declined from Nov. 2022 (C$1.08 Mil) to Nov. 2023 (C$0.84 Mil).

Novagold Resources Long-Term Capital Lease Obligation Historical Data

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

Novagold Resources Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

Long-Term Capital Lease Obligation

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0.53

0.23

1.08

0.84

Novagold Resources 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															1.01	0.96	0.89	0.84	0.77

Novagold Resources (TSX:NG) 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.

Novagold Resources Long-Term Capital Lease Obligation Related Terms

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Novagold Resources (TSX:NG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novagold Resources Inc (TSX:NG) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

NG:USA NGR:Germany NG:Argentina

Address

201 South Main Street, Suite 400, Salt Lake City, UT, USA, 84111

Website

https://www.novagold.com

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.

Executives

Anthony P. Walsh

Director