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Property Held For Lease And Rental Income | 12 Months Ended
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Sep. 28, 2013
Property Held For Lease And Rental Income [Abstract] |
Property Held For Lease And Rental Income | 4. Property Held for Lease and Rental Income At September 28, 2013, the Company owned and operated 68 shopping centers in conjunction with its supermarket operations. The Company leases to others a portion of its shopping center properties. The leases are non-cancelable operating lease agreements for periods ranging up to 25 years. Rental income is included in the line item “Net sales” on the Consolidated Statement of Income. Depreciation on owned properties leased to others and other shopping center expenses are included in the line item “Cost of goods sold” on the Consolidated Statements of Income.
|  | 2013 |  | 2012 |  | 2011
Rents earned on owned and subleased properties: |  |  |  |  |  |  |  |  |
Base rentals including lease termination payments |  | $ | 7,997,136 |  | $ | 8,352,748 |  | $ | 8,562,380
Contingent rentals |  |  | 257,598 |  |  | 528,083 |  |  | 539,379
Total |  |  | 8,254,734 |  |  | 8,880,831 |  |  | 9,101,759
Depreciation on owned properties leased to others |  |  | (5,220,102) |  |  | (5,478,307) |  |  | (5,367,343)
Other shopping center expenses |  |  | (1,936,250) |  |  | (1,958,178) |  |  | (1,880,318)
Total |  | $ | 1,098,382 |  | $ | 1,444,346 |  | $ | 1,854,098
Owned properties leased or held for lease to others under operating leases by major classes are summarized as follows:
|  | September 28, |  | September 29,
|  | 2013 |  | 2012
Land |  | $ | 39,487,058 |  | $ | 42,751,350
Buildings |  |  | 162,673,028 |  |  | 169,474,831
Total |  |  | 202,160,086 |  |  | 212,226,181
Less accumulated depreciation |  |  | (93,950,201) |  |  | (92,833,568)
Total |  | $ | 108,209,885 |  | $ | 119,392,613
The above amounts are included on the Consolidated B alance S heet s in the caption “Property and e quipment.” The following is a schedule of minimum future rental income on non-cancelable operating leases as of September 28, 2013:
Fiscal Year |  |  |
2014 |  | $ | 4,647,256
2015 |  |  | 3,822,046
2016 |  |  | 2,779,382
2017 |  |  | 1,729,098
2018 |  |  | 690,192
Thereafter |  |  | 1,260,389
Total minimum future rental income |  | $ | 14,928,363

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 + Details
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