Foot Locker 2013 Annual Report Download - page 75

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Foot Locker, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
14. Long-Term Debt and Obligations Under Capital Leases − (continued)
Maturities of long-term debt and minimum rent payments under capital leases in future periods are:
Long-Term
Debt Capital
Leases Total
(in millions)
2014 $— $3 $ 3
2015 —3 3
2016 —2 2
2017 —— —
2018 —— —
Thereafter 118 — 118
$118 $ 8 $126
Less: Imputed interest — — —
Current portion — 3 3
$118 $ 5 $123
15. Other Liabilities
2013 2012
(in millions)
Straight-line rent liability $116 $109
Income taxes 27 21
Pension benefits 25 37
Deferred taxes 18 5
Postretirement benefits 14 14
Workers’ compensation and general liability reserves 910
Other 20 25
$229 $221
16. Leases
The Company is obligated under operating leases for almost all of its store properties. Some of the store leases contain
renewal options with varying terms and conditions. Management expects that in the normal course of business, expir-
ing leases will generally be renewed or, upon making a decision to relocate, replaced by leases on other premises.
Operating lease periods generally range from 5 to 10 years. Certain leases provide for additional rent payments based
on a percentage of store sales. Most of the Company’s leases require the payment of certain executory costs such as
insurance, maintenance, and other costs in addition to the future minimum lease payments. These costs, including the
amortization of lease rights, totaled $128 million in both 2013 and 2012, and $130 million in 2011. Included in the
amounts below, are non-store expenses that totaled $16 million in both 2013 and 2012, and $17 million in 2011.
2013 2012 2011
(in millions)
Minimum rent $580 $537 $525
Contingent rent based on sales 22 24 20
Sublease income (2) (1) (1)
$600 $560 $544
52