Leases

The Company leases restaurant facilities, office space and certain equipment under operating leases that expire on various dates through September 2035. Lease terms for traditional shopping centers generally include a base term of 10 years, with options to extend these leases for additional periods of five to 15 years. Typically, the lease includes rent escalations, which are expensed on a straight-line basis over the expected lease term. The difference between rent expense and cash paid for rent is recognized as deferred rent. Rent expense for 2015, 2014 and 2013 was approximately $41.8 million, $35.7 million and $29.5 million, respectively.

Future minimum lease payments required under existing leases as of December 29, 2015 are as follows (in thousands):



2016	$	49,555
2017	47,678
2018	44,088
2019	42,149
2020	42,233
Thereafter	286,316
	$	512,019