Odfjell Drilling (Odfjell Drilling) Long-Term Capital Lease Obligation : $33.7 Mil (As of Mar. 2024)

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What is Odfjell Drilling Long-Term Capital Lease Obligation?

Odfjell Drilling's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $33.7 Mil.

Odfjell Drilling's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($29.5 Mil) to Dec. 2023 ($38.4 Mil) but then declined from Dec. 2023 ($38.4 Mil) to Mar. 2024 ($33.7 Mil).

Odfjell Drilling's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($38.3 Mil) to Dec. 2022 ($41.7 Mil) but then declined from Dec. 2022 ($41.7 Mil) to Dec. 2023 ($38.4 Mil).

Odfjell Drilling Long-Term Capital Lease Obligation Historical Data

The historical data trend for Odfjell Drilling'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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Odfjell Drilling Long-Term Capital Lease Obligation Chart

Odfjell Drilling Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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38.90

36.92

38.30

41.70

38.40

Odfjell Drilling Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															36.10	34.90	29.50	38.40	33.70

Odfjell Drilling (OTCPK:ODFJF) 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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Odfjell Drilling (Odfjell Drilling) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Odfjell Drilling Ltd (OTCPK:ODFJF) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

ODLO:Sweden ODL:Norway 0QHX:UK OD3:Germany

Address

Crawpeel Road, Bergen House, Altens, Aberdeen, GBR, AB12 3LG

Website

https://www.odfjelldrilling.com

Odfjell Drilling Ltd is an integrated offshore drilling and oil service company. The company and its subsidiaries operates mobile offshore drilling units. It operates in the segments Own Fleet, External Fleet and Corporate / other. The Own Fleet segment operates mobile offshore drilling units owned by Odfjell Drilling. The External Fleet segment offers management services to other owners of drilling units; mainly operational management, management of regulatory requirements, marketing, contract negotiations and client relations, preparations for operation and mobilisation. Majority of revenue is generated from Own Fleet segment. Geographically, It operates in Norway.