IHOP 2013 Annual Report Download - page 105

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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
9. Leases (Continued)
84
Contingent rental income, which is the amount above and beyond base rent, for the years ended December 31, 2013, 2012
and 2011 was $12.7 million, $12.5 million and $13.1 million, respectively.
The following is the Company's net investment in equipment leases receivable:
December 31,
2013 2012
(In millions)
Total minimum leases receivable................................................................................................ $ 184.2 $ 209.3
Less: unearned income ............................................................................................................... (69.1) (86.9)
Net investment in equipment leases receivables ........................................................................ 115.1 122.4
Less: current portion ................................................................................................................... (7.1) (6.8)
Long-term equipment leases receivable ..................................................................................... $ 108.0 $ 115.6
The following are minimum future lease payments on noncancelable leases as lessee at December 31, 2013:
Capital
Leases
Operating
Leases
(In millions)
2014 ........................................................................................................................................ $ 24.3 $ 76.7
2015 (1)....................................................................................................................................................................... 26.1 82.3
2016 ........................................................................................................................................ 23.9 74.4
2017 ........................................................................................................................................ 21.2 67.0
2018 ........................................................................................................................................ 20.4 71.1
Thereafter................................................................................................................................ 76.3 392.2
Total minimum lease payments .............................................................................................. 192.2 $ 763.7
Less: interest ........................................................................................................................... (68.4)
Capital lease obligations ......................................................................................................... 123.8
Less: current portion(1) ........................................................................................................................................ (12.1)
Long-term capital lease obligations........................................................................................ $ 111.7
____________________________________________________________
(1) Due to the varying closing date of the Company's fiscal year, 13 monthly payments will be made in fiscal 2015
(2) Included in current maturities of capital lease and financing obligations on the consolidated balance sheet.
The asset cost and carrying amount on company-owned property leased at December 31, 2013 was $90.1 million and
$66.1 million, respectively. The asset cost and carrying amount on company-owned property leased at December 31, 2012, was
$90.1 million and $67.8 million, respectively. The asset cost and carrying amounts represent the land and building asset values
and net book values on sites leased to franchisees.