Pizza Hut 2009 Annual Report Download - page 177
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86
The annual maturities of short-term borrowings and long-term debt as of December 26, 2009, excluding capital lease
obligations of $249 million and derivative instrument adjustments of $36 million, are as follows:
Year ended:
2010 $ 5
2011 654
2012 273
2013 5
2014 6
Thereafter 2,045
Total $ 2,988
Interest expense on short-term borrowings and long-term debt was $212 million, $253 million and $199 million in 2009,
2008 and 2007, respectively.
Note 12 – Leases
At December 26, 2009 we operated more than 7,600 restaurants, leasing the underlying land and/or building in nearly
6,200 of those restaurants with the vast majority of our commitments expiring within 20 years from the inception of the
lease. Our longest lease expires in 2151. We also lease office space for headquarters and support functions, as well as
certain office and restaurant equipment. We do not consider any of these individual leases material to our operations.
Most leases require us to pay related executory costs, which include property taxes, maintenance and insurance.
Form 10-K