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Commitments | 12 Months Ended
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Jan. 03, 2015
Commitments | Note R — Commitments VF is obligated under noncancelable operating leases related primarily to retail stores, office space, distribution facilities and equipment. Rent expense, net of sublease income which was not significant in any period, was included in the Consolidated Statements of Income as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | In thousands |
Minimum rent expense |  | $ | 335,771 |  |  | $ | 294,056 |  |  | $ | 292,632 |
Contingent rent expense |  |  | 23,335 |  |  |  | 14,175 |  |  |  | 35,622 |
Rent expense |  | $ | 359,106 |  |  | $ | 308,231 |  |  | $ | 328,254 |
Future minimum lease payments are $331.3 million, $275.0 million, $223.7 million, $177.2 million and $142.2 million for the years 2015 through 2019, respectively, and $326.9 million thereafter. In addition, VF will receive total payments of $3.7 million related to noncancelable subleases through 2016. VF has entered into licensing agreements that provide VF rights to market products under trademarks owned by other parties. Royalties under these agreements are recognized in cost of goods sold in the Consolidated Statements of Income. Certain of these agreements contain minimum royalty and minimum advertising requirements. Future minimum royalty payments, including any required advertising payments, are $52.5 million, $82.0 million, $81.5 million, $51.6 million and $50.7 million for the years 2015 through 2019, respectively, and none thereafter. In the ordinary course of business, VF has entered into purchase commitments for raw materials, contract production and finished products. These agreements, typically ranging from 2 to 6 months in duration, require total payments of $1.4 billion in 2015 and $7.4 million in 2016. VF has entered into commitments for (i) service and maintenance agreements related to its management information systems, (ii) capital spending and (iii) advertising. Future payments under these agreements are $90.3 million, $17.0 million, $1.7 million, $1.1 million and $0.1 million for the years 2015 through 2019, respectively, and $0.5 million thereafter. Surety bonds, standby letters of credit and international bank guarantees representing contingent guarantees of performance under self-insurance and other programs totaled $108.4 million as of December 2014. These commitments would only be drawn upon if VF were to fail to meet its claims or other obligations.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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