LEASES (Tables)

6 Months Ended

Jan. 26, 2019

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:



	13-Week Period Ended						26-Week Period Ended
(in thousands)	January 26, 2019			January 27, 2018			January 26, 2019			January 27, 2018
Minimum rent	63,793			21,295			$	90,133		$	41,994
Contingent rent	46			—			35			—
Rent expense⁽¹⁾	63,839			21,295			90,168			41,994
Less subtenant rentals	(4,159		)	(403		)	(4,819		)	(824		)
Total net rent expense	$	59,680		$	20,892		$	85,349		$	41,170


(1)	Rent expense as presented here includes $12.4 million in the second quarter of fiscal 2019, and $13.3 million year-to-date in fiscal 2019, of operating lease rent expense 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 January 26, 2019, these lease obligations consisted of following amounts (in thousands):



	Lease Obligations
Fiscal Year	Operating Leases		Capital Leases
Remaining fiscal 2019	$	97,688	$	26,255
2020	185,238		42,904
2021	157,999		34,871
2022	139,821		31,013
2023	121,034		27,814
Thereafter	1,006,721		74,339
Total future minimum obligations	$	1,708,501	237,196
Less interest			(84,778		)
Present value of net future minimum obligations			152,418
Less current capital lease obligations			(27,819		)
Long-term capital lease obligations			$	124,599

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 January 26, 2019, consisted of the following (in thousands):



	Lease Receipts
Fiscal Year	Operating Leases		Direct Financing Leases
Remaining fiscal 2019	$	18,648	$	225
2020	32,510		225
2021	25,953		—
2022	22,389		—
2023	14,631		—
Thereafter	31,342		—
Total minimum lease receipts	$	145,473	$	450