Jack In The Box 2010 Annual Report Download - page 58

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Table of Contents


The minimum rents receivable expected to be received under these non-cancelable operating leases, excluding contingent rentals, are
as follows :

2011 $ 122,577
2012 120,393
2013 117,872
2014 117,010
2015 116,238
Thereafter 1,199,605
Total minimum future rentals $ 1,793,695
Assets held for lease consisted of the following at each year-end :
 
Land $ 49,913 $ 36,507
Buildings 410,823 256,858
Equipment 373 -
461,109 293,365
Less accumulated depreciation (207,616) (140,870)
$ 253,493 $ 152,495
 
Impairment — When events and circumstances indicate that our long-lived assets might be impaired and their carrying amount is
greater than the undiscounted cash flows we expect to generate from such assets, we recognize an impairment loss as the amount by
which the carrying value exceeds the fair value of the assets. We typically estimate fair value based on the estimated discounted cash
flows of the related asset using marketplace participant assumptions. Impairment charges primarily relate to the write-down of the
carrying value of certain underperforming Jack in the Box restaurants we continue to operate and restaurants we have closed.
Disposal of property and equipment — We also recognize accelerated depreciation and other costs on the disposition of property
and equipment. When we decide to dispose of a long-lived asset, depreciable lives are adjusted based on the estimated disposal date
and accelerated depreciation is recorded. Other disposal costs primarily relate to gains or losses recognized upon the sale of closed
restaurant properties and normal ongoing capital maintenance activities.
The following impairment and disposal costs are included in impairment and other charges, net in the accompanying consolidated
statements of earnings ():
  
Impairment charges $ 12,970 $ 6,586 $ 3,507
Losses on the disposition of property and equipment, net $ 10,757 $ 11,418 $ 17,373
F-18