DSW 2012 Annual Report Download - page 65

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F- 25
9. OTHER NON-CURRENT LIABILITIES
The balance sheet caption "Other non-current liabilities" was comprised of the following as of the periods presented:
February 2, 2013 January 28, 2012
(in thousands)
Construction and tenant allowances $ 77,084 $ 62,474
Deferred rent 36,723 35,673
Other 14,406 15,617
Total other non-current liabilities $ 128,213 $ 113,764
10. LEASES
DSW leases stores, fulfillment center and other facilities under various arrangements with related and unrelated parties. Such
leases expire through 2024 and in most cases provide for renewal options. Generally, DSW is required to pay base rent, real
estate taxes, maintenance, insurance and contingent rentals based on sales in excess of specified levels. Under supply
agreements, DSW pays contingent rents based on sales for the shoe departments it operates through its Affiliated Business
Group. As of February 2, 2013 and January 28, 2012, DSW had no capital leases.
As of February 2, 2013, DSW leased or had other agreements with entities affiliated with Schottenstein Affiliates for 22 store
locations and its fulfillment center for a total annual minimum rent for fiscal 2012 of $12.9 million, which also included the
corporate office headquarters and distribution center prior to the transfer of those properties to DSW. DSW leases a portion of
its corporate office headquarters to a Schottenstein Affiliate for annual rent of $0.1 million, which was for the portion of the
year that DSW owned the facility.
The following table presents future minimum lease payments required under the aforementioned leases, excluding real estate
taxes, insurance and maintenance costs, as of February 2, 2013:
Total Unrelated
Party Related
Party
Fiscal years (in thousands)
2013 $ 160,790 $ 149,461 $ 11,329
2014 163,319 151,959 11,360
2015 150,422 139,423 10,999
2016 130,961 121,339 9,622
2017 108,197 99,482 8,715
Future years 360,619 346,138 14,481
Total minimum lease payments $ 1,074,308 $ 1,007,802 $ 66,506
The following table presents the composition of rental expense for the periods presented:
Fiscal years ended
February 2, 2013 January 28, 2012 January 29, 2011
(in thousands)
Minimum rentals:
Unrelated parties $ 127,061 $ 112,800 $ 107,808
Related parties 12,855 13,230 11,548
Contingent rentals:
Unrelated parties 26,502 33,784 31,539
Total $ 166,418 $ 159,814 $ 150,895
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