First Citizens Bancshares (TN) (First Citizens Bancshares (TN)) Long-Term Capital Lease Obligation : $13 Mil (As of Dec. 2018)

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What is First Citizens Bancshares (TN) Long-Term Capital Lease Obligation?

First Citizens Bancshares (TN)'s Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2018 was $13 Mil.

First Citizens Bancshares (TN)'s quarterly Long-Term Capital Lease Obligation stayed the same from Jun. 2018 ($0 Mil) to Sep. 2018 ($0 Mil) but then increased from Sep. 2018 ($0 Mil) to Dec. 2018 ($13 Mil).

First Citizens Bancshares (TN)'s annual Long-Term Capital Lease Obligation increased from Dec. 2016 ($6 Mil) to Dec. 2017 ($8 Mil) and increased from Dec. 2017 ($8 Mil) to Dec. 2018 ($13 Mil).

First Citizens Bancshares (TN) Long-Term Capital Lease Obligation Historical Data

The historical data trend for First Citizens Bancshares (TN)'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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First Citizens Bancshares (TN) Long-Term Capital Lease Obligation Chart

First Citizens Bancshares (TN) Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Long-Term Capital Lease Obligation

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3.15

9.23

5.70

7.80

13.16

First Citizens Bancshares (TN) Quarterly Data
	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															7.80	-	-	-	13.16

First Citizens Bancshares (TN) (OTCPK:FIZN) 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.

First Citizens Bancshares (TN) Long-Term Capital Lease Obligation Related Terms

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First Citizens Bancshares (TN) (First Citizens Bancshares (TN)) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Citizens Bancshares Inc (TN) (OTCPK:FIZN) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

4300 Six Forks Road, Raleigh, NC, USA, 27609

Website

https://www.firstcitizens.com

First Citizens Bancshares Inc (TN) is a financial holding company. The bank offers various services such as checking accounts, savings accounts, mobile and tablet banking, digital banking, loans, insurance and other banking services. The company operates its business in four segments, 1) General Banking which offers a full suite of deposit products, loans, cash management, wealth, payments and various other fee-based services., 2) Commercial Banking segment provides a range of lending, leasing, capital markets, asset management and other financial and advisory services to small and middle market companies, 3) Rail offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers throughout North America and 4) Corporate.