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Commitments and Contingencies and Derivative Financial Instruments | 12 Months Ended
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Sep. 27, 2019
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies and Derivative Financial Instruments | Commitments and Contingencies and Derivative Financial Instruments Commitments Under Operating Leases We lease certain of our facilities and equipment under operating leases with net aggregate future lease payments at September 27, 2019, payable as follows (in thousands):
In fiscal years, |
2020 | $ | 190,287 |
2021 | 172,017 |
2022 | 151,452 |
2023 | 131,250 |
2024 | 116,381 |
Thereafter | 352,194 |
| 1,113,581 |
Amounts representing sublease income | (31,884 | )
| $ | 1,081,697 |
We recognize rent expense, inclusive of landlord concessions and tenant allowances, over the lease term on a straight-line basis. We also recognize rent expense on a straight-line basis for leases containing fixed escalation clauses and rent holidays. Contingent rentals are included in rent expense as incurred. Operating leases relating to many of our major offices generally contain renewal options and provide for additional rental based on escalation in operating expenses and real estate taxes. The following table presents rent expense and sublease income offsetting the Company’s rent expense for the years ended September 27, 2019, September 28, 2018 and September 29, 2017 (in thousands):
| For the Years Ended
| September 27, 2019 |  | September 28, 2018 |  | September 29, 2017
Rent expense | $ | 167,365 |  |  | $ | 169,931 |  |  | $ | 96,875 |
Sublease income | (11,514 | ) |  | (5,087 | ) |  | (3,160 | )
Net rent expense | $ | 155,851 |  |  | $ | 164,844 |  |  | $ | 93,715 |
Derivative Financial Instruments In situations where our operations incur contract costs in currencies other than their functional currency, we attempt to have a portion of the related contract revenues denominated in the same currencies as the costs. In those situations where revenues and costs are transacted in different currencies, we sometimes enter into foreign exchange contracts in order to limit our exposure to fluctuating foreign currencies. The Company does not currently have outstanding foreign currency derivatives that would have a material effect on our consolidated financial statements or results of operations. Letters of Credit At September 27, 2019, the Company had issued and outstanding approximately $262.2 million in LOCs and $2.0 billion in surety bonds. Of the outstanding LOC amount, $2.3 million has been issued under the New Credit Agreement and $259.9 million are issued under separate, committed and uncommitted letter-of-credit facilities.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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