Leases:

The Company leases the majority of its retail store locations, two distribution sites, its Merchandise Innovation Center, transportation equipment and other equipment under various non-cancellable operating leases. The leases have varying terms and expire at various dates through 2030. Store leases typically have initial terms of between 10 and 15 years, with two to four optional renewal periods of five years each. Some leases require the payment of contingent rent that is based upon store sales above agreed-upon sales levels for the year. The sales levels vary for each store and are established in the lease agreements. Generally, most of the leases also require that the Company pays associated taxes, insurance and maintenance costs.

Total rent expense for fiscal 2014, 2013 and 2012 was approximately $239.3 million, $216.8 million and $200.1 million, respectively. Total contingent rent expense for fiscal 2014, 2013 and 2012 was insignificant.

Future minimum payments, by year and in the aggregate, under leases with initial or remaining terms of one year or more consist of the following (in thousands):



	Capital Leases			Operating Leases
2015	$	537		$	243,864
2016	537			236,943
2017	537			225,404
2018	537			215,190
2019	537			202,099
Thereafter	5,364			952,557
Total minimum lease payments	8,049			$	2,076,057
Amount representing interest	(2,879		)
Present value of minimum lease payments	5,170
Less: current portion	(213		)
Long-term capital lease obligations	$	4,957

Assets under capital leases were as follows (in thousands):



	2014			2013
Building and improvements	$	5,623		$	1,581
Less: accumulated depreciation and amortization	(935		)	(782		)
	$	4,688		$	799