Define: Capitalized Lease Obligations
What does "Capitalized Lease Obligations" mean? The meaning differs based on the contract. We found 2 definitions across 2 companies in SEC filings.
Definition 1 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Capitalized Lease Obligations means all obligations under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of the lessee under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 2 (Tesla, Inc., seen in 1 filing)
Capitalized Lease Obligations means with respect to any Person, all rental obligations of such Person which, under GAAP, are or will be required to be capitalized on the books of such Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with such principles; provided that Capitalized Lease Obligations shall not include (i) any obligations in respect of leases that would be treated as operating leases in accordance with GAAP as in effect on the Tenth Amendment Effective Date and (ii) any obligations in respect of operating leases that are capitalized as a result build-to-suit lease accounting rules.
Source: Tesla, Inc. 10-K
Data extracted from 2 SEC EDGAR filings across 2 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.