Kits Eyecare (TSX:KITS) Long-Term Capital Lease Obligation : C$5.0 Mil (As of Mar. 2024)

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What is Kits Eyecare Long-Term Capital Lease Obligation?

Kits Eyecare's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$5.0 Mil.

Kits Eyecare's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (C$5.2 Mil) to Dec. 2023 (C$5.0 Mil) but then increased from Dec. 2023 (C$5.0 Mil) to Mar. 2024 (C$5.0 Mil).

Kits Eyecare's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (C$6.3 Mil) to Dec. 2022 (C$5.7 Mil) and declined from Dec. 2022 (C$5.7 Mil) to Dec. 2023 (C$5.0 Mil).

Kits Eyecare Long-Term Capital Lease Obligation Historical Data

The historical data trend for Kits Eyecare'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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Kits Eyecare Long-Term Capital Lease Obligation Chart

Kits Eyecare Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.55

0.80

6.30

5.67

4.98

Kits Eyecare Quarterly Data
	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														5.51	5.33	5.16	4.98	5.04

Kits Eyecare (TSX:KITS) 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.

Kits Eyecare Long-Term Capital Lease Obligation Related Terms

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Kits Eyecare (TSX:KITS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Kits Eyecare Ltd (TSX:KITS) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

KTYCF:USA 0P3:Germany

Address

510 Seymour Street, Suite 1020, Vancouver, BC, CAN, V6B 3J5

Website

https://www.kits.com

Kits Eyecare Ltd is a vertically integrated, digitally native eyecare platform that offers its customers access to a vast selection of the highest quality contact lenses and eyeglasses, including its own exclusive KITS-designed products, and a suite of online vision tools. It operates a network of optical e-commerce websites, including KITS.com, KITS.ca, OptiContacts.com, and ContactsExpress.ca. The company's contact lens partners include Alcon, Bausch & Lomb, CooperVision, and Johnson & Johnson, and its glasses partners include Gucci, Oakley, Prive Revaux, Ray-Ban, and Tom Ford, which enables it to offer its customers first class brands and products in eye care.

Executives

Robert Long

Senior Officer

Kits Eyecare (TSX:KITS) Headlines

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