Buffalo Wild Wings 2009 Annual Report Download - page 84

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BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 27, 2009 and December 28, 2008
(Dollar amounts in thousands, except per-share amounts)
Amortization expense related to reacquired franchise rights for 2009 and 2008 was $612 and $207, respectively. The weighted
average amortization period is 18 years. Estimated future amortization expense as of December 27, 2009 is as follows:
Fiscal year ending:
2010 $ 614
2011 605
2012 579
2013 535
2014 491
Thereafter 3,397
Total future amortization expense $ 6,221
(6) Lease Commitments
We lease all of our restaurants and corporate offices under operating leases that have various expiration dates. In addition to
base rents, leases typically require us to pay our share of maintenance and real estate taxes and certain leases include provisions for
contingent rentals based upon sales.
Future minimum rental payments due under noncancelable operating leases for existing restaurants and commitments for
restaurants under development as of December 27, 2009 were as follows:
Operating
leases
Restaurants
under
development
Fiscal year ending:
2010 $ 28,521 1,379
2011 27,409 2,529
2012 26,325 2,544
2013 24,715 2,555
2014 23,404 2,579
Thereafter 110,495 22,891
Total future minimum lease payments $ 240,869 34,477
In 2009, 2008, and 2007, we rented office space under operating leases which, in addition to the minimum lease payments,
require payment of a proportionate share of the real estate taxes and building operating expenses. We also rent restaurant space under
operating leases, some of which, in addition to the minimum lease payments and proportionate share of real estate and operating
expenses, require payment of percentage rents based upon sales levels. Rent expense, excluding our proportionate share of real estate
taxes and building operating expenses, was as follows:
Fiscal Years Ended
December 27,
2009
December 28,
2008
December 30,
2007
Minimum rents $ 27,042 21,714 16,729
Percentage rents 361 308 250
Total $ 27,403 22,022 16,979
Equipment and auto leases $ 495 356 359
Source: BUFFALO WILD WINGS INC, 10-K, February 26, 2010 Powered by Morningstar® Document Research℠