Sale-Leaseback Transactions

9 Months Ended

Sep. 30, 2016

Leases [Abstract]

Sale-Leaseback Transactions

Sale-Leaseback Transactions

The Company finances a portion of its store development program through sale-leaseback transactions. The properties are

generally sold at net book value, which approximates fair value, and the resulting leases typically qualify and are accounted for

as operating leases. The Company does not have any retained or contingent interests in the stores and does not provide any

guarantees, other than a guarantee of lease payments, in connection with the sale-leaseback transactions. Proceeds from sale-leaseback transactions totaled $230 million and $34 million for the nine months ended September 30, 2016 and 2015,

respectively.