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Leases
 12 Months Ended
Jun. 30, 2013
Leases:  
Leases

NOTE F - LEASES:

 

Premises occupied by Company-owned restaurants are leased for initial terms of five to ten years, and each has multiple renewal terms.  Certain lease agreements contain either a provision requiring additional rent if sales exceed specified amounts or an escalation clause based upon a predetermined multiple.

 

In fiscal 2007, the Company sold its corporate office building and distribution facility located at 3551 Plano Parkway, The Colony, Texas, and entered into  a ten-year lease agreement for the corporate office building.

 

Future minimum rental payments under non-cancelable leases, net of subleases, with initial or remaining terms of one year or more at June 30, 2013 were as follows (in thousands):

 

 

 

Operating

 

 

 

Leases

 

 

 

 

 

2014

 

$

1,550

 

2015

 

 

1,673

 

2016

 

 

1,616

 

2017

 

 

1,183

 

2018

 

 

770

 

Thereafter

 

 

1,690

 

 

 

$

8,482

 

  

 

Rental expense consisted of the following (in thousands):

 

 

 

Year Ended

 

 

 

June 30,

 

 

June 24,

 

 

 

2013

 

 

2012

 

 

 

 

 

 

 

 

Minimum rentals

 

$

1,322

 

 

$

1,041

 

Sublease rentals

 

 

(182

)

 

 

(136

)

 

 

$

1,140

 

 

$

905