Allied Cooperative Insurance Group (SAU:8150) Long-Term Capital Lease Obligation : ﷼8.2 Mil (As of Mar. 2024)

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What is Allied Cooperative Insurance Group Long-Term Capital Lease Obligation?

Allied Cooperative Insurance Group's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ﷼8.2 Mil.

Allied Cooperative Insurance Group's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (﷼0.8 Mil) to Dec. 2023 (﷼0.3 Mil) but then increased from Dec. 2023 (﷼0.3 Mil) to Mar. 2024 (﷼8.2 Mil).

Allied Cooperative Insurance Group's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (﷼3.0 Mil) to Dec. 2022 (﷼2.1 Mil) and declined from Dec. 2022 (﷼2.1 Mil) to Dec. 2023 (﷼0.3 Mil).

Allied Cooperative Insurance Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Allied Cooperative Insurance Group'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.

* Premium members only.

Allied Cooperative Insurance Group Long-Term Capital Lease Obligation Chart

Allied Cooperative Insurance Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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7.12

4.97

2.98

2.12

0.35

Allied Cooperative Insurance Group 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															1.12	0.81	0.81	0.35	8.21

Allied Cooperative Insurance Group (SAU:8150) 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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Allied Cooperative Insurance Group (SAU:8150) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Allied Cooperative Insurance Group (SAU:8150) » Definitions » Long-Term Capital Lease Obligation

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Address

Prince Turki bin Abdulaziz Al-Awal Road, P.O. Box 40523, Unit No. 2171, Hittin District, Riyadh, SAU, 11511

Website

https://www.acig.com.sa

Allied Cooperative Insurance Group is a Saudi Arabia based insurance company. The activities of the Company are to transact cooperative insurance operations and related activities in the Kingdom of Saudi Arabia. The operating segment of the company are Medical Insurance, Motor Insurance and General Accident Insurance segments. Medical segment provides compensation to policy holders for expenses incurred in treatment of a disease, illness or injury. Motor provides coverage against losses and liability related to motor vehicles. Other includes property, marine, aviation, accident and liability categories. It earns a vast majority of revenues from the motor insurance segment.

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