Albertsons 2006 Annual Report Download - page 72

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SUPERVALU INC. and Subsidiaries
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The company is party to a synthetic leasing program for one of its major warehouses. The lease qualifies for
operating lease accounting treatment under SFAS No. 13, “Accounting for Leases.” For additional information
on the synthetic lease, refer to the Commitments, Contingencies and Off-Balance Sheet Arrangements note in the
Notes to Consolidated Financial Statements.
Total rent expense, net of sublease income, relating to all operating leases with terms greater than one year
was $121.9 million, $115.6 million and $119.7 million in fiscal 2006, 2005 and 2004, respectively.
Future minimum receivables under operating leases and subleases in effect at February 26, 2005 are as
follows:
Owned
Property
Leased
Property Total
(In thousands)
Fiscal Year
2007 $1,026 $21,974 $ 23,000
2008 1,016 17,588 18,604
2009 513 13,887 14,400
2010 246 10,556 10,802
2011 81 7,120 7,201
Later — 26,367 26,367
Total future minimum receivables $2,882 $97,492 $100,374
Owned property leased to third parties is as follows:
February 25,
2006
February 26,
2005
(In thousands)
Land, buildings and equipment $11,782 $10,055
Less accumulated depreciation 7,285 5,566
Net land, buildings and equipment $ 4,497 $ 4,489
F-27