Operating Leases

12 Months Ended

Apr. 28, 2012

Note 8: Operating Leases

We have operating leases for one manufacturing facility, executive and sales offices, warehouses, showrooms and retail facilities, as well as for transportation, information technology and other equipment. The operating leases expire at various dates through fiscal 2027. We have certain retail facilities which we sublease to outside parties.

The future minimum rentals for all non-cancelable operating leases and future rental income from subleases are as follows (for the fiscal years):


(Amounts in thousands)	Future Minimum Rentals		Future Minimum Income
2013	$	42,970	$	3,821
2014		40,111		3,458
2015		39,086		3,475
2016		35,680		3,575
2017		33,337		3,465
2018 and beyond		127,272		16,586
Total	$	318,456	$	34,380

Rental expense and rental income for operating leases were as follows (for the fiscal years ended):

(Amounts in thousands)	4/28/2012		4/30/2011		4/24/2010
Rental expense	$	49,060	$	50,318	$	53,279
Rental income		4,509		3,369		492

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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