Inspire Veterinary Partners (Inspire Veterinary Partners) Long-Term Capital Lease Obligation : $1.48 Mil (As of Mar. 2024)

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What is Inspire Veterinary Partners Long-Term Capital Lease Obligation?

Inspire Veterinary Partners's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $1.48 Mil.

Inspire Veterinary Partners's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($0.57 Mil) to Dec. 2023 ($1.51 Mil) but then declined from Dec. 2023 ($1.51 Mil) to Mar. 2024 ($1.48 Mil).

Inspire Veterinary Partners's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($0.67 Mil) and increased from Dec. 2022 ($0.67 Mil) to Dec. 2023 ($1.51 Mil).

Inspire Veterinary Partners Long-Term Capital Lease Obligation Historical Data

The historical data trend for Inspire Veterinary Partners'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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Inspire Veterinary Partners Long-Term Capital Lease Obligation Chart

Inspire Veterinary Partners Annual Data

Trend

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

0.67

1.51

Inspire Veterinary Partners Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial					0.61	0.58	0.57	1.51	1.48

Inspire Veterinary Partners (NAS:IVP) 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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Inspire Veterinary Partners (Inspire Veterinary Partners) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Personal Services » Inspire Veterinary Partners Inc (NAS:IVP) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

780 Lynnhaven Parkway, Suite 400 Virginia Beach, Virginia, Virginia Beach, VA, USA, 23452

Website

Inspire Veterinary Partners Inc owns and operates veterinary hospitals throughout the United States. The company specializes in small animal general practice hospitals which serve all manner of companion pets, emphasizing canine and feline breeds.

Executives

Alexander Lawrence	director	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Charles Stith Keiser	director, officer: Chief Operating Officer	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Erinn Thomas-mackey	director	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Kimball Carr	director, officer: See Remarks	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH, VA 23452
Peter Lau	director	P.O. BOX 1237, SPRINGDALE AR 72765
Anne Murphy	director	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Wilderness Trace Veterinary Partners, Llc	other: See Remarks	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Timothy Watters	director	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Suprock Louis John	director	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH VA 23452
Richard Frank	officer: Chief Financial Officer	780 LYNNHAVEN PARKWAY, SUITE 400, VIRGINIA BEACH, FL 23452