Ross 2014 Annual Report Download - page 53

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The Company leases approximately 68,000 square feet of office space for its Los Angeles buying office. The lease term for this
facility expires in 2017 and contains renewal provisions. In addition, the Company has a ground lease related to its New York
buying office.
The aggregate future minimum annual lease payments under leases in effect at January 31, 2015 are as follows:
($000) Total operating leases
2015 $ 438,423
2016 462,606
2017 405,809
2018 340,607
2019 261,768
Thereafter 1,434,485
Total minimum lease payments $ 3,343,698
Total rent expense was $457.0 million, $434.9 million, and $406.6 million in fiscal 2014, 2013, and 2012, respectively.
Note F: Taxes on Earnings
The provision for income taxes consisted of the following:
($000) 2014 2013 2012
Current
Federal $ 499,009 $ 486,203 $ 485,882
State 36,547 35,053 31,227
535,556 521, 25 6 517,10 9
Deferred
Federal 23,452 (11,0 55 ) (37,178 )
State 1,634 ( 4,19 5 ) (1,85 0 )
25,086 (15,250) (39,028)
Total $ 560,642 $ 506,006 $ 478,081
In fiscal 2014, 2013, and 2012, the Company realized tax benefits of $29.8 million, $27.7 million and $30.0 million, respectively,
related to employee equity programs that were recorded in additional paid-in capital.
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