ElectroMagnetic GeoServices ASA (OSL:EMGS) Long-Term Capital Lease Obligation : kr1.16 Mil (As of Mar. 2024)

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What is ElectroMagnetic GeoServices ASA Long-Term Capital Lease Obligation?

ElectroMagnetic GeoServices ASA's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was kr1.16 Mil.

ElectroMagnetic GeoServices ASA's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (kr1.49 Mil) to Dec. 2023 (kr1.47 Mil) and declined from Dec. 2023 (kr1.47 Mil) to Mar. 2024 (kr1.16 Mil).

ElectroMagnetic GeoServices ASA's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (kr4.69 Mil) to Dec. 2022 (kr1.17 Mil) but then increased from Dec. 2022 (kr1.17 Mil) to Dec. 2023 (kr1.47 Mil).

ElectroMagnetic GeoServices ASA Long-Term Capital Lease Obligation Historical Data

The historical data trend for ElectroMagnetic GeoServices ASA'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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ElectroMagnetic GeoServices ASA Long-Term Capital Lease Obligation Chart

ElectroMagnetic GeoServices ASA Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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72.00

56.61

4.69

1.17

1.47

ElectroMagnetic GeoServices ASA 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															0.54	-	1.49	1.47	1.16

ElectroMagnetic GeoServices ASA (OSL:EMGS) 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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ElectroMagnetic GeoServices ASA (OSL:EMGS) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » ElectroMagnetic GeoServices ASA (OSL:EMGS) » Definitions » Long-Term Capital Lease Obligation

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EMGSo:Sweden E2M:Germany

Address

Karenslyst Alle 4, 4th floor, Oslo, NOR, 0278

Website

https://www.emgs.com

ElectroMagnetic GeoServices ASA is a company engaged in offering electromagnetic services. It principally uses electromagnetic survey method to find hydrocarbons in offshore reservoirs. The firm is focused on planning, acquisition, processing, modelling, interpretation, and integration of electromagnetic data. The oil and gas companies, along with other customers of the group, use electromagnetic services to evaluate whether an offshore acreage is viable for commercial production of hydrocarbons. The business operations of the group are carried in Europe, the Middle East and Africa, North and South America, Asia and the Pacific Ocean. It generates revenue from the Contract sales and Multi-client sales.

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