Beginning in fiscal 1998, the Company has completed numerous real estate lease agreements with Entertainment Properties Trust ("EPT") including transactions accounted for as sale and leaseback transactions in accordance with Accounting Standards Codification No. 840, Leases. The leases are triple net leases that require the Company to pay substantially all expenses associated with the operation of the theatres such as taxes and other charges, insurance, utilities, service, maintenance and any ground lease payments. As of March 29, 2012, the Company leased from EPT 40 theatres with 825 screens located in the United States and Canada.

Following is a schedule, by year, of future minimum rental payments required under existing operating leases that have initial or remaining non-cancelable terms in excess of one year as of March 29, 2012:

(In thousands)	Minimum operating lease payments

2013	$	417,237
2014		417,556
2015		415,533
2016		404,061
2017		387,027
Thereafter		1,909,774

Total minimum payments required	$	3,951,188

As of March 29, 2012, the Company has a lease agreement for one theatre with 12 screens which is under construction and is expected to open in fiscal 2014. Included above are digital projector equipment leases payable to DCIP.

Included in other long-term liabilities as of March 29, 2012 and March 31, 2011 is $126,224,000 and $112,762,000, respectively, of deferred rent representing future minimum rental payments for leases with scheduled rent increases, and $125,772,000 and $143,426,000, respectively, for unfavorable lease liabilities.

(In thousands)	52 Weeks Ended March 29, 2012		52 Weeks Ended March 31, 2011		52 Weeks Ended April 1, 2010

Minimum rentals	$	415,677	$	422,351	$	391,493
Common area expenses		43,480		46,208		41,189
Percentage rentals based on revenues		9,666		7,251		7,982

Rent		468,823		475,810		440,664
Operating expense		6,969		2,975		45
General and administrative—other		1,778		1,690		1,382

Total	$	477,570	$	480,475	$	442,091