Right-of-use asset
Leased property recognised as the company's own asset: it does not own the item but controls its use over the lease term.
How to read the number
Appeared once leases stopped being kept off the balance sheet: the lessee now shows both the asset and the debt behind it.
When the metric lies
Because of that standard, leverage at lease-heavy companies rose without a single new loan. Comparison with years before the transition is invalid.
Also known as: rou asset