Payments due by period under long-term debt, other financing instruments and commitments are as follows:



			Within		2 to		4 to		After
	Total		1 Year		3 Years		5 Years		5 Years
	(Dollars in thousands)
Principal payments on long-term debt	$	326,200					$	326,200
Finance lease commitments/financing obligations (a)		503,276	$	52,009	$	104,839		97,008	$	249,420
Operating lease commitments (a)		243,829		36,422		66,101		53,192		88,114
Accrued rent		3,118		2,764		319		18		17
Other liabilities		1,733		800		933		—		—
Total	$	1,078,156	$	91,995	$	172,192	$	476,418	$	337,551

(a)Operating and finance lease commitments represent future undiscounted lease payments and include $62.5 million and $96.1 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.

In the first quarter of fiscal 2021, we negotiated rent deferrals for a significant number of our stores, with repayment at later dates, primarily in the third and fourth quarters of fiscal 2021 and the first and second quarters of fiscal 2022. These concessions provide a deferral of rent payments with no substantive changes to the original contract. Consistent with updated guidance from the FASB in April 2020, we have elected to treat the rent deferrals as accrued liabilities. The accrued rent reflected in the table above includes $1.5 million related to rent deferrals and $1.6 million due to timing of other lease related expenses. We will continue to recognize expense during the deferral periods.

In addition, we negotiated rent reductions with certain landlords on approximately 20% of our leases in exchange for extending our current lease term during the first quarter of fiscal 2021. As these agreements represent substantive changes to our contractual obligations, the leases were remeasured in accordance with existing guidance. As a result, finance lease and financing obligation assets, net and finance leases and financing obligations were increased by $59.8 million and $56.3 million, respectively, and operating lease assets, net and operating lease liabilities were increased by $13.8 million and $17.3 million, respectively. The negotiated terms were generally consistent with terms of normal renewal agreements.

We believe that we can fulfill our commitments utilizing our cash flow from operations and, if necessary, cash on hand and/or bank financing.