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Property Held For Lease And Rental Income | 12 Months Ended
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Sep. 26, 2015
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 26, 2015, the Company owned and operate d 74 sh opping 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 s 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.
|  | 2015 |  | 2014 |  | 2013
Rents earned on owned and subleased properties: |  |  |  |  |  |  |  |  |
Base rentals including lease termination payments |  | $ | 7,639,725 |  | $ | 7,875,101 |  | $ | 7,997,136
Contingent rentals |  |  | 273,133 |  |  | 331,352 |  |  | 257,598
Total |  |  | 7,912,858 |  |  | 8,206,453 |  |  | 8,254,734
Depreciation on owned properties leased to others |  |  | (5,019,873) |  |  | (5,363,637) |  |  | (5,220,102)
Other shopping center expenses |  |  | (1,897,737) |  |  | (1,982,212) |  |  | (1,936,250)
Total |  | $ | 995,248 |  | $ | 860,604 |  | $ | 1,098,382
Owned properties leased or held for lease to others under operating leases by major classes are summarized as follows:
|  | September 26, |  | September 27,
|  | 2015 |  | 2014
Land |  | $ | 41,424,958 |  | $ | 41,796,507
Buildings |  |  | 155,165,151 |  |  | 168,884,878
Total |  |  | 196,590,109 |  |  | 210,681,385
Less accumulated depreciation |  |  | (99,766,077) |  |  | (103,238,395)
Total |  | $ | 96,824,032 |  | $ | 107,442,990
The above amounts are included on the Consolidated Balance Sheets in the caption “Property and equipment, net.” The following is a schedule of minimum future rental income on non-cancelable operating leases as of September 26, 2015:
Fiscal Year |  |  |
2016 |  | $ | 5,404,661
2017 |  |  | 4,428,190
2018 |  |  | 3,219,448
2019 |  |  | 2,692,399
2020 |  |  | 1,938,806
Thereafter |  |  | 3,268,829
Total minimum future rental income |  | $ | 20,952,333

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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 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 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 02 -Paragraph 6 -Subparagraph a -Article 5 + Details
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