LEASES (Tables)

3 Months Ended

Oct. 27, 2018

The Company leases certain of its distribution centers and leases most of its retail stores, and leases certain office facilities and equipment from third parties. Many of these leases include renewal options and, in certain instances, also include options to purchase. Rent expense, other operating lease expense and subtenant rentals all under operating leases included within Operating expenses consisted of the following (in thousands):



	13-Week Period Ended
	October 27, 2018			October 28, 2017
Minimum rent	$	26,340		$	18,904
Contingent rent	(11		)	—
Rent expense⁽¹⁾	26,329			18,904
Less subtenant rentals	(660		)	—
Total net rent expense	$	25,669		$	18,904


(1)	Rent expense as presented here includes $0.9 million of operating lease rent expense in the first quarter of fiscal 2019 related to stores within discontinued operations, but for which GAAP requires the expense to be included within continuing operations, as we expect to remain primarily obligated under these leases.

Future Minimum Lease and Subtenant Rentals Under Noncancellable Leases

Future minimum lease payments to be made by the Company or certain third parties in the case of assigned leases for noncancellable operating leases and capital leases have not been reduced for future minimum subtenant rentals under certain operating subleases, including assignments. As of October 27, 2018 these lease obligations consisted of following amounts (in thousands):



	Lease Obligations
Fiscal Year	Operating Leases		Capital Leases
Remaining fiscal 2019	$	147,680	$	38,465
2020	170,557		43,122
2021	130,675		37,565
2022	112,039		36,530
2023	97,658		32,193
Thereafter	688,692		112,723
Total future minimum obligations	$	1,347,301	300,598
Less interest			(89,791		)
Present value of net future minimum obligations			210,807
Less current capital lease obligations			(28,068		)
Long-term capital lease obligations			$	182,739

Noncancellable Operationg leases and Capital Leases

Future minimum lease and subtenant rentals to be received under lease assignments and noncancellable operating and deferred financing income leases, under which the Company is the lessor, as of October 27, 2018, consisted of the following (in thousands):



	Lease Receipts
Fiscal Year	Operating Leases		Direct Financing Leases
Remaining fiscal 2019	$	26,055	$	322
2020	29,242		225
2021	22,120		—
2022	19,611		—
2023	12,892		—
Thereafter	38,033		—
Total minimum lease receipts	$	147,953	$	547