---
kind: "section"
citation: "18 C.F.R. § 367.1011"
title: "18"
number: "367.1011"
heading: "Account 101.1, Property under capital leases."
url: "https://uscodex.org/cfr/18/367.1011"
---

# §367.1011. Account 101.1, Property under capital leases.

- (a) This account must include the amount recorded under capital leases for property leased from others and used by the service company in its operations.
- (b) The property included in this account must be classified separately according to detailed accounts 301 ([§ 367.3010](/cfr/18/367.3010.md)), 303 ([§ 367.3030](/cfr/18/367.3030.md)) and 389 to 399.1 ([§§ 367.3890 to 367.3991](/cfr/18/367.3890..367.3991.md)) prescribed for service company property.
- (c) Records must be maintained with respect to each capital lease reflecting:
  - (1) Name of lessor,
  - (2) Basic details of lease,
  - (3) Terminal date,
  - (4) Original cost or fair market value of property leased,
  - (5) Future minimum lease payments,
  - (6) Executory costs,
  - (7) Present value of minimum lease payments,
  - (8) The amount representing interest and the interest rate used, and
  - (9) **Expenses paid.**

## Notes

### Authority

Authority: 15 U.S.C. 717 et seq., 16 U.S.C. 791a et seq., and 42 U.S.C. 16451-16463.

### Source

Source: Order 684, 71 FR 65226, Nov. 7, 2006, unless otherwise noted.