Artificial Intelligence Technology Solutions (Artificial Intelligence Technology Solutions) Long-Term Capital Lease Obligation : $0.88 Mil (As of Nov. 2023)

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What is Artificial Intelligence Technology Solutions Long-Term Capital Lease Obligation?

Artificial Intelligence Technology Solutions's Long-Term Capital Lease Obligation for the quarter that ended in Nov. 2023 was $0.88 Mil.

Artificial Intelligence Technology Solutions's quarterly Long-Term Capital Lease Obligation declined from May. 2023 ($0.93 Mil) to Aug. 2023 ($0.90 Mil) and declined from Aug. 2023 ($0.90 Mil) to Nov. 2023 ($0.88 Mil).

Artificial Intelligence Technology Solutions's annual Long-Term Capital Lease Obligation increased from Feb. 2021 ($0.00 Mil) to Feb. 2022 ($1.06 Mil) but then declined from Feb. 2022 ($1.06 Mil) to Feb. 2023 ($0.95 Mil).

Artificial Intelligence Technology Solutions Long-Term Capital Lease Obligation Historical Data

The historical data trend for Artificial Intelligence Technology Solutions'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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Artificial Intelligence Technology Solutions Long-Term Capital Lease Obligation Chart

Artificial Intelligence Technology Solutions Annual Data

Trend

Feb14

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Long-Term Capital Lease Obligation

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1.06

0.95

Artificial Intelligence Technology Solutions Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															1.12	0.95	0.93	0.90	0.88

Artificial Intelligence Technology Solutions (OTCPK:AITX) 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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Artificial Intelligence Technology Solutions (Artificial Intelligence Technology Solutions) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Artificial Intelligence Technology Solutions Inc (OTCPK:AITX) » Definitions » Long-Term Capital Lease Obligation

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Address

10800 Galaxie Avenue, Ferndale, MI, USA, 48220

Website

https://aitx.ai

Artificial Intelligence Technology Solutions Inc through its wholly-owned subsidiary delivers robotics and artificial intelligence-based solutions for operational, security, and monitoring needs. It also creates its own software leading to the development of powerful tools such as RADSOC, RADPMC, and RADGuard.