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LEASES | 9 Months Ended
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Apr. 27, 2019
Leases [Abstract] |
Lessee And Lessor Lease Disclosure | LEASES On October 23, 2018, the Company received $101.0 million in aggregate proceeds, excluding taxes and closing costs, for the sale and leaseback of its final distribution center of eight distribution center sale-leaseback transactions entered into by Supervalu in April 2018. On October 26, 2018, the Company received $48.5 million in aggregate proceeds, excluding taxes and closing costs, for the sale and leaseback of a separate distribution center under an agreement entered into by Supervalu in March 2018, as amended. Both distribution center sale-leasebacks qualified for sale accounting, with the lease-backs being classified as operating leases. No gain or loss was recognized or deferred on the sale of these facilities, as these facilities were valued at their contractual sales price as of the Supervalu acquisition date. During the second quarter of fiscal 2019, the Company closed the remaining Shop ‘n Save St. Louis-based retail stores and the dedicated distribution center, and we continue to hold the owned real estate assets related to these locations for sale. The Company recorded a closed store reserve charge of approximately $17.1 million in the second quarter of fiscal 2019. In the first quarter of fiscal 2019, the Company entered into a lease for a new distribution facility in California for approximately 1.2 million square feet. 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, and subtenant rentals under operating leases with customers included within Net sales, consisted of the following:
| 13-Week Period Ended |  | 39-Week Period Ended
(in thousands) | April 27, 2019 |  | April 28, 2018 |  | April 27, 2019 |  | April 28, 2018
Minimum rent | 56,278 |  |  | 22,186 |  |  | $ | 146,411 |  |  | $ | 64,180 |
Contingent rent | 6 |  |  | — |  |  | 41 |  |  | — |
Rent expense(1) | 56,284 |  |  | 22,186 |  |  | 146,452 |  |  | 64,180 |
Less subtenant rentals | (9,165 | ) |  | (412 | ) |  | (19,184 | ) |  | (1,237 | )
Total net rent expense | $ | 47,119 |  |  | $ | 21,774 |  |  | $ | 127,268 |  |  | $ | 62,943 |
(1) | Rent expense as presented here includes $11.6 million in the third quarter of fiscal 2019, and $24.3 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 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 April 27, 2019, these lease obligations consisted of following amounts (in thousands):
| Lease Obligations
Fiscal Year | Operating Leases |  | Capital Leases
Remaining fiscal 2019 | $ | 52,497 |  |  | $ | 15,049 |
2020 | 183,901 |  |  | 43,556 |
2021 | 160,734 |  |  | 35,259 |
2022 | 145,768 |  |  | 32,082 |
2023 | 124,538 |  |  | 28,895 |
Thereafter | 1,021,406 |  |  | 74,433 |
Total future minimum obligations | $ | 1,688,844 |  |  | 229,274 |
Less interest |  |  | (79,944 | )
Present value of net future minimum obligations |  |  | 149,330 |
Less current capital lease obligations |  |  | (26,394 | )
Long-term capital lease obligations |  |  | $ | 122,936 |
The Company leases certain property to third parties under operating, capital and direct financing leases, including assigned leases for which we have future minimum lease payment obligations that are included in the table above. 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 April 27, 2019, consisted of the following (in thousands):
| Lease Receipts
Fiscal Year | Operating Leases |  | Direct Financing Leases
Remaining fiscal 2019 | $ | 11,068 |  |  | $ | 161 |
2020 | 33,824 |  |  | 281 |
2021 | 27,097 |  |  | — |
2022 | 23,416 |  |  | — |
2023 | 15,887 |  |  | — |
Thereafter | 32,173 |  |  | — |
Total minimum lease receipts | $ | 143,465 |  |  | $ | 442 |

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- Definition Disclosure of lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Also includes the description and amounts of lessor entity's leasing arrangements for operating, capital and leveraged leases. + References No definition available. + Details
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- References No definition available. + Details
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