Albertsons 2009 Annual Report Download - page 62
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minimum lease payments to be made by the Company for noncancellable operating leases and capital leases
as of February 28, 2009 consist of the following:
Fiscal Year
Operating
Leases
Capital
Leases
Lease Obligations
2010 $ 426 $ 168
2011 415 164
2012 380 157
2013 335 154
2014 283 152
Thereafter 2,008 1,544
Total future minimum obligations $3,847 2,339
Less interest (1,005)
Present value of net future minimum obligations 1,334
Less current obligations (69)
Long-term obligations $ 1,265
Total future minimum obligations have not been reduced for future minimum subtenant rentals of $344 under
certain operating subleases.
Rent expense and subtenant rentals under operating leases consisted of the following:
2009 2008 2007
Operating leases:
Minimum rent $460 $450 $366
Contingent rent 8 7 5
468 457 371
Subtenant rentals (67) (66) (54)
$401 $391 $317
The Company leases certain property to third parties under both operating and direct financing leases. Under
the direct financing leases, the Company leases buildings to independent retail customers with terms ranging
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