Parkin Co (DFM:PARKIN) Long-Term Capital Lease Obligation : د.إ29.2 Mil (As of Mar. 2024)

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What is Parkin Co Long-Term Capital Lease Obligation?

Parkin Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was د.إ29.2 Mil.

Parkin Co's quarterly Long-Term Capital Lease Obligation increased from Mar. 2023 (د.إ0.0 Mil) to Dec. 2023 (د.إ21.6 Mil) and increased from Dec. 2023 (د.إ21.6 Mil) to Mar. 2024 (د.إ29.2 Mil).

Parkin Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (د.إ17.3 Mil) to Dec. 2022 (د.إ13.6 Mil) but then increased from Dec. 2022 (د.إ13.6 Mil) to Dec. 2023 (د.إ21.6 Mil).

Parkin Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Parkin 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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Parkin Co Long-Term Capital Lease Obligation Chart

Parkin Co Annual Data

Trend

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

17.32

13.58

21.64

Parkin Co Quarterly Data
	Dec21	Dec22	Mar23	Dec23	Mar24
Long-Term Capital Lease Obligation	17.32	13.58	-	21.64	29.19

Parkin Co (DFM:PARKIN) 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.

Parkin Co Long-Term Capital Lease Obligation Related Terms

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Parkin Co (DFM:PARKIN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Parkin Co (DFM:PARKIN) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

N/A

Address

Marrakech Street, G+2 Building, Old Headquarters, Umm Al Ramool, Plot number 215-246, P.O. Box 118899, Dubai, ARE

Website

https://www.parkin.ae

Parkin Co is a provider of paid parking facilities and services in Dubai. It operates across six operating verticals: (i) public on-street and off-street parking, (ii) public MSCPs, (iii) Developer-owned Parking Lots, (iv) permits and seasonal parking subscriptions, (v) parking reservations, and (vi) other services.

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