Dollar General 2011 Annual Report Download - page 180

10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. Commitments and contingencies (Continued)
Future minimum payments as of February 3, 2012 for operating leases are as follows:
(In thousands)
2012 .................................................. $ 537,842
2013 .................................................. 495,373
2014 .................................................. 442,913
2015 .................................................. 379,693
2016 .................................................. 324,512
Thereafter ............................................. 1,479,668
Total minimum payments ................................... $3,660,001
Total minimum payments for capital leases as of February 3, 2012 were $7.4 million, with a present
value of $5.1 million at an effective interest rate of approximately 6.8% at February 3, 2012. The gross
amount of property and equipment recorded under capital leases and financing obligations at
February 3, 2012 and at January 28, 2011, was $29.0 million and $31.0 million, respectively.
Accumulated depreciation on property and equipment under capital leases and financing obligations at
February 3, 2012 and January 28, 2011, was $7.3 million and $7.4 million, respectively.
Rent expense under all operating leases is as follows:
(In thousands) 2011 2010 2009
Minimum rentals(a) ....................... $525,486 $471,402 $407,379
Contingent rentals ........................ 16,856 17,882 21,248
$542,342 $489,284 $428,627
(a) Excludes amortization of leasehold interests of $21.0 million, $25.7 million and
$37.2 million included in rent expense for the years ended February 3, 2012, January 28,
2011 and January 29, 2010, respectively.
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