Leases	3 Months Ended
Dec. 25, 2021
Leases [Abstract]
Leases	J. LEASES Leases as Lessee The Company conducts part of its retail operations from leased facilities. The initial terms of the leases are generally 20 years. The majority of the leases include one or more renewal options and provide that the Company pay property taxes, utilities, repairs and certain other costs incidental to occupation of the premises. Several leases contain clauses calling for percentage rentals based upon gross sales of the supermarket occupying the leased space. Step rent provisions, escalation clauses and lease incentives are taken into account in computing minimum lease payments. Operating lease cost for all operating leases totaled $2.6 million for the three months ended December 25, 2021. This amount includes short-term (less than one year) leases, common area expenses, and variable lease costs, all of which are insignificant. Cash paid for lease liabilities in operating activities approximates operating lease cost. Maturities of operating lease liabilities as of December 25, 2021 are as follows: Fiscal Year Remainder of 2022$ 7,493,7012023 8,300,5572024 5,516,2572025 4,715,5502026 2,983,602Thereafter 22,905,731Total lease payments$ 51,915,398Less amount representing interest 11,521,646Present value of lease liabilities$ 40,393,752 The weighted average remaining lease term for the Company’s operating leases is 13.4 years. The weighted average discount rate used to determine lease liability balances as of December 25, 2021 is 3.51%, based on recent Company financings collateralized by store properties. Leases as Lessor At December 25, 2021, the Company owned and operated 83 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 20 years. Rental income is included in the line item “Net sales” on the Consolidated Statements 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. Three Months Ended December 25, 2021Rents earned on owned and subleased properties: Base rentals$ 4,897,358Variable rentals 67,892 Total 4,965,250Depreciation on owned properties leased to others (1,463,937)Other shopping center expenses (647,787) Total$ 2,853,526 Future minimum operating lease receipts at December 25, 2021 are as follows: Fiscal Year Remainder of 2022$ 15,000,2682023 13,606,4952024 12,389,0102025 11,000,2932026 7,992,449Thereafter 32,810,154Total minimum future rental income$ 92,798,669

Leases

3 Months Ended

Dec. 25, 2021

J. LEASES Leases as Lessee The Company conducts part of its retail operations from leased facilities. The initial terms of the leases are generally 20 years. The majority of the leases include one or more renewal options and provide that the Company pay property taxes, utilities, repairs and certain other costs incidental to occupation of the premises. Several leases contain clauses calling for percentage rentals based upon gross sales of the supermarket occupying the leased space. Step rent provisions, escalation clauses and lease incentives are taken into account in computing minimum lease payments. Operating lease cost for all operating leases totaled $2.6 million for the three months ended December 25, 2021. This amount includes short-term (less than one year) leases, common area expenses, and variable lease costs, all of which are insignificant. Cash paid for lease liabilities in operating activities approximates operating lease cost. Maturities of operating lease liabilities as of December 25, 2021 are as follows: Fiscal Year Remainder of 2022$ 7,493,7012023 8,300,5572024 5,516,2572025 4,715,5502026 2,983,602Thereafter 22,905,731Total lease payments$ 51,915,398Less amount representing interest 11,521,646Present value of lease liabilities$ 40,393,752 The weighted average remaining lease term for the Company’s operating leases is 13.4 years. The weighted average discount rate used to determine lease liability balances as of December 25, 2021 is 3.51%, based on recent Company financings collateralized by store properties. Leases as Lessor At December 25, 2021, the Company owned and operated 83 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 20 years. Rental income is included in the line item “Net sales” on the Consolidated Statements 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. Three Months Ended December 25, 2021Rents earned on owned and subleased properties: Base rentals$ 4,897,358Variable rentals 67,892 Total 4,965,250Depreciation on owned properties leased to others (1,463,937)Other shopping center expenses (647,787) Total$ 2,853,526 Future minimum operating lease receipts at December 25, 2021 are as follows: Fiscal Year Remainder of 2022$ 15,000,2682023 13,606,4952024 12,389,0102025 11,000,2932026 7,992,449Thereafter 32,810,154Total minimum future rental income$ 92,798,669