Baskin Robbins 2013 Annual Report Download - page 85

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-75-
Included in the Company’s consolidated balance sheets are the following amounts related to assets leased to others under
operating leases, where the Company is the lessor (in thousands):
December 28,
2013
December 29,
2012
Land $ 29,701 27,210
Buildings 41,721 39,242
Leasehold improvements 135,177 141,264
Store, production, and other equipment 146 149
Construction in progress 1,363 1,384
Assets leased to others, gross 208,108 209,249
Accumulated depreciation (71,535)(71,100)
Assets leased to others, net $ 136,573 138,149
Future minimum rental commitments to be paid and received by the Company at December 28, 2013 for all noncancelable
leases and subleases are as follows (in thousands):
Payments
Receipts
Subleases
Net
leases
Capital
leases
Operating
leases
Fiscal year:
2014 $ 1,031 52,930 (61,929)(7,968)
2015 1,064 51,710 (61,043)(8,269)
2016 1,068 50,563 (61,026)(9,395)
2017 1,090 50,467 (60,525)(8,968)
2018 1,106 49,811 (59,305)(8,388)
Thereafter 6,655 384,354 (347,138) 43,871
Total minimum rental commitments 12,014 $ 639,835 (650,966) 883
Less amount representing interest 4,586
Present value of minimum capital lease
obligations $ 7,428
Rental expense under operating leases associated with franchised locations and company-owned locations is included in
occupancy expenses—franchised restaurants and company-owned restaurant expenses, respectively, in the consolidated
statements of operations. Rental expense under operating leases for all other locations, including corporate facilities, is included
in general and administrative expenses, net, in the consolidated statements of operations. Total rental expense for all operating
leases consisted of the following (in thousands):
Fiscal year ended
December 28,
2013
December 29,
2012
December 31,
2011
Base rentals $ 53,462 52,821 52,214
Contingent rentals 5,869 5,227 4,510
Total rental expense $ 59,331 58,048 56,724
Total rental income for all leases and subleases consisted of the following (in thousands):
Fiscal year ended
December 28,
2013
December 29,
2012
December 31,
2011
Base rentals $ 66,540 67,988 66,061
Contingent rentals 29,542 28,828 26,084
Total rental income $ 96,082 96,816 92,145