Advance Auto Parts 2009 Annual Report Download - page 86

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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
January 2, 2010, January 3, 2009 and December 29, 2007
(in thousands, except per share data)
.
F-33
significantly over the next 12 months.
During the next 12 months, it is possible the Company could conclude on approximately $1,000 to $2,000 of
the contingencies associated with unrecognized tax uncertainties due mainly to the conclusion of audits and the
expiration of statutes of limitations. The majority of these resolutions would be achieved through the completion of
current income tax examinations.
The Company files U.S. and state income tax returns in jurisdictions with varying statutes of limitations. The
Internal Revenue Service completed an examination of the Company’s 2006 and 2007 tax return. The 2008 and
2009 tax years remain open to exam by the Internal Revenue Service. The Company has no state examinations open
for tax years prior to 2005. With limited exceptions, the 2006 and subsequent years remain subject to examination
by state tax authorities.
16. Lease Commitments:
At January 2, 2010, future minimum lease payments due under non-cancelable operating leases with lease terms
ranging from 1 year to 30 years through the year 2039 for all open stores are as follows:
Fiscal Year Amount
2010 287,320$
2011 250,396
2012 227,551
2013 202,104
2014 171,743
Thereafter 933,557
2,072,671$
The Company anticipates its future minimum lease payments will be partially off-set by future minimum sub-
lease income. At January 2, 2010 and January 3, 2009, future minimum sub-lease income to be received under non-
cancelable operating leases is $4,266 and $5,042, respectively.
Net Rent Expense
Net rent expense for Fiscal 2009, 2008 and 2007 was as follows:
2009 2008 2007
Minimum facility rentals 272,686$ 261,315$ 245,135$
Contingent facility rentals 729 642 730
Equipment rentals 4,738 4,338 5,490
Vehicle rentals 21,403 17,202 14,572
299,556 283,497 265,927
Less: Sub-lease income (3,652) (3,940) (4,038)
295,904$ 279,557$ 261,889$
Rent expense associated with closed locations is included in SG&A.