Albertsons 2007 Annual Report Download - page 99

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SU
PERVAL
U
IN
C
. and
S
ubsidiaries
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
N
O
TE 10—LEA
S
E
S
C
apital and Operatin
g
Leases
Th
e Company
l
eases certa
i
n reta
il f
oo
d
stores,
f
oo
ddi
str
ib
ut
i
on ware
h
ouses, o
ffi
ce
f
ac
ili
t
i
es an
d
equ
i
pment
.
M
an
y
o
f
t
h
ese
l
eases
i
nc
l
u
d
e renewa
l
opt
i
ons, an
d
to a
li
m
i
te
d
extent,
i
nc
l
u
d
e opt
i
ons to purc
h
ase. Futur
e
minimum lease pa
y
ments for noncancellable operatin
g
leases (which exclude the amortization or Acquisition-
re
l
ate
df
a
i
rva
l
ue a
dj
ustments) an
d
cap
i
ta
ll
eases at Fe
b
ruary 24, 2007 were as
f
o
ll
ows:
O
perating
L
eases
C
apital
L
eases
Fisca
lY
ea
r
s
:
2008 $ 416 $ 159
200
9
446 1
58
2
0
1
035
11
58
2
0
11
3
24 1
53
2012 292 146
Later 2,238 1,
5
66
T
otal future minimum obligations 4,067 2,340
Less interest (998
)
P
resent value of net future minimum obligations 1,342
Less current obli
g
ations (
5
4)
Long-term obligations
$
1,28
8
T
he present values of future minimum obli
g
ations for capital leases shown above are calculated based on interest
rates determined at the inception of the lease, or upon acquisition of the original lessee, ranging from
a
pproximately 5.4 percent to 13.8 percent, with a weighted average ratio of approximately 7.5 percent
.
R
ent expense and sublease rental income under operating leases and amortization expense under capital lease
s
w
ere as
f
o
ll
o
w
s:
F
ebruar
y
24
,
2
007
Februar
y
25,
2006
F
ebruar
y
26
,
2
005
O
perat
i
ng leases:
Minimum rent
$
366
$
147
$
141
Contin
g
ent rent
5
1
1
3
71 148 142
S
ublease rent (
5
4) (26) (26
)
3
17 122 11
6
C
apital Leases:
A
mortization expense
$
54
$
32
$
35
F-
33