Commitments

Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $3.0 billion, $2.9 billion and $2.6 billion in fiscal 2019, 2018 and 2017, respectively.

Aggregate minimum annual rentals as of January 31, 2019, under non-cancelable leases are as follows:



(Amounts in millions)
Fiscal Year	Operating Leases⁽¹⁾		Capital Lease and Financing Obligations
2020	$	1,856	$	917
2021	1,655		856
2022	1,420		794
2023	1,233		667
2024	1,063		593
Thereafter	6,891		6,069
Total minimum rentals	$	14,118	$	9,896
Less estimated executory costs			23
Net minimum lease payments			9,873
Financing obligation noncash gains and other			2,278
Less imputed interest			(4,739		)
Present value of minimum lease payments			$	7,412


(1)	Represents minimum contractual obligation for non-cancelable leases with initial or remaining terms greater than 12 months as of January 31, 2019.

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 2019, 2018 and 2017. Substantially all of the Company's store leases have renewal options, some of which may trigger an escalation in rentals.