Einstein Bros 2002 Annual Report Download - page 81

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http://www.sec.gov/Archives/edgar/data/949373/000104746903027186/a2116520z10-ka.htm[9/11/2014 10:14:22 AM]
F-50
16. Commitments and Contingencies
Operating Leases
The Company leases office and retail space under various non-cancelable operating leases. Property leases normally require payment of a
minimum annual rental plus a pro rata share of certain landlord operating expenses. As of December 31, 2002, approximate future minimum rental
payments under non-cancelable operating leases for the next five years and the period thereafter are as follows:
Year
December 31,
2002
(amounts in
thousands)
2003 $ 27,485
2004 26,706
2005 24,225
2006 18,326
2007 8,739
2008 and thereafter 8,360
Total minimum lease payments 113,841
Less: sub-lease income (2,148)
$ 111,693
Rent expense under operating leases was approximately $30,641,000, $18,022,000 and $2,522,000 for the years ended December 31, 2002,
January 1, 2002 and December 31, 2000, respectively.
Capital Leases
The Company has capital leases for computer equipment used in its stores and offices. As of December 31, 2002, the remaining payments
under such capital leases are as follows:
Year
December 31,
2002
(amounts in
thousands)
2003 $ 295
2004 181
2005 44
2006 22
2007 11
Total minimum lease payments 553
Less: amount representing interest (93)
$ 460
F-51