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Leases

9 Months Ended

Sep. 09, 2011


18.	Leases

As noted in Footnote No. 15, “Acquisitions,” in the 2011 first quarter we acquired a leasehold on a hotel for an initial payment of $34 million (€25 million) in cash plus fixed annual rent. We account for this leasehold as a capital lease, and the following table details the aggregate minimum lease payments through the initial lease term, which ends in 2014:



($ in millions)	Minimum Lease Payments
2011	$	1
2012	2
2013	2
2014	65
Total minimum lease payments	70
Less: amount representing interest	(5		)
Present value of net minimum lease payments	$	65

See Footnote No. 21, “Leases,” of our 2010 Form 10-K for information regarding our other leases.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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