Big Lots 2007 Annual Report Download - page 144
Download and view the complete annual report
Please find page 144 of the 2007 Big Lots annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
 |
 |
56
BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 5 — Leases (Continued)
Total rent expense, including real estate taxes, CAM, and property insurance, charged to continuing operations
for operating leases consisted of the following:
2007 2006 2005
(In thousands)
Minimum leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $234,891 $238,414 $240,656
Contingent leases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 409 935 1,159
Total rent expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $235,300 $239,349 $241,815
In 2005, rent expense for operating leases associated with the 130 closed stores included in income (loss) from
discontinued operations was $15.2 million.
Lease related income for the KB Toys business included in income (loss) from discontinued operations is $11.0
million, $14.5 million and $0.4 million for 2007, 2006, and 2005, respectively. This lease income is the reversal
of prior charges taken to provide for estimated obligations for KB Toys leases guaranteed by us which were
rejected during the KB Toys bankruptcy.
Future minimum commitments for equipment, store and warehouse leases, excluding closed store leases and
real estate taxes, CAM, and property insurance, at February 2, 2008, were as follows:
Fiscal Year
(In thousands)
2008 ...................................... $193,101
2009 ...................................... 158,220
2010 ....................................... 117,674
2011 ....................................... 84,971
2012 ....................................... 54,321
Thereafter .................................. 61,203
Total leases ............................... $669,490
We have obligations for capital leases for vehicles and office equipment, included in accrued operating expenses
and other liabilities on our consolidated balance sheet. Scheduled payments for all capital leases at February 2,
2008, were as follows:
Fiscal Year
(In thousands)
2008 ...................................... $1,029
2009 ...................................... 1,014
2010 ....................................... 554
2011 ....................................... 140
2012 ....................................... 23
Thereafter .................................. —
Total lease payments........................ $2,760
Less amount to discount to present value........ (263)
Capital lease obligation per balance sheet ....... $2,497