Pizza Hut 2010 Annual Report Download - page 186
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89
The annual maturities of short-term borrowings and long-term debt as of December 25, 2010, excluding capital lease
obligations of $236 million and derivative instrument adjustments of $31 million, are as follows:
Year ended:
2011 $ 653
2012 268
2013 5
2014 6
2015 257
Thereafter 2,138
Total $ 3,327
Interest expense on short-term borrowings and long-term debt was $195 million, $212 million and $253 million in 2010,
2009 and 2008, respectively.
Note 11 – Leases
At December 25, 2010 we operated more than 7,200 restaurants, leasing the underlying land and/or building in more than
6,000 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