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 2031. 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 2015, 2014 and 2013 was approximately $262.1 million, $239.3 million and $216.8 million, respectively. Total contingent rent expense for fiscal 2015, 2014 and 2013 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
2016	$	1,876		$	265,327
2017	1,876			258,361
2018	1,876			249,250
2019	1,876			236,796
2020	1,876			218,764
Thereafter	16,713			1,070,995
Total minimum lease payments	26,093			$	2,299,493
Amount representing interest	(8,223		)
Present value of minimum lease payments	17,870
Less: current portion	(878		)
Long-term capital lease obligations	$	16,992

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



	2015			2014
Building and improvements	$	18,831		$	5,623
Less: accumulated depreciation and amortization	(1,656		)	(935		)
	$	17,175		$	4,688