Amtrak 2013 Annual Report Download - page 80

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
1411-1359280 41
8. Leasing Arrangements (continued)
Future Minimum Lease Payments
As of September 30, 2013, future minimum lease payments are (in thousands):
Year ending September 30,
2014 $ 137,122
2015 94,873
2016 102,862
2017 112,757
2018 95,249
Thereafter 273,702
Total payments 816,565
Less: discounted to current period amount at interest rates ranging
from 5.0% to 9.1% 212,202
Present value of minimum lease payments at September 30, 2013 $ 604,363
The current portion of capital lease obligations as of September 30, 2013 and 2012, was
$94.3 million and $98.0 million, respectively, and is presented in “Current maturities of long-
term debt and capital lease obligations” in the Consolidated Balance Sheets.
Operating Rights and Leases
As of September 30, 2013, Amtrak is obligated for the following minimum rental payments
(in thousands):
Year ending September 30,
2014 $ 16,215
2015 14,557
2016 11,854
2017 11,143
2018 8,750
Thereafter 32,404
Total $ 94,923
Rent expense for the fiscal years ended September 30, 2013 and 2012, was $54.6 million and
$50.6 million, respectively.