Commitments

The Company has long-term leases for stores and equipment. Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $2.9 billion, $2.6 billion and $2.5 billion in fiscal 2018, 2017 and 2016, respectively.

Aggregate minimum annual rentals at January 31, 2018, under non-cancelable leases are as follows:



(Amounts in millions)
Fiscal Year	Operating Leases⁽¹⁾		Capital Lease and Financing Obligations
2019	$	1,933	$	1,039
2020	1,718		987
2021	1,532		942
2022	1,381		843
2023	1,158		696
Thereafter	7,644		5,423
Total minimum rentals	$	15,366	$	9,930
Less estimated executory costs			27
Net minimum lease payments			9,903
Noncash gain on future termination of financing obligation			1,111
Less imputed interest			(3,567		)
Present value of minimum lease payments			$	7,447


(1)	Represents minimum contractual obligation for non-cancelable leases with initial or remaining terms greater than 12 months as of January 31, 2018.

Certain of the Company's leases provide for the payment of contingent rentals based on a percentage of sales. Such contingent rentals were not material for fiscal 2018, 2017 and 2016. Substantially all of the Company's store leases have renewal options, some of which may trigger an escalation in rentals.