LEASES

Leased property consisted primarily of 1,348 of our retail stores, our new corporate office, our new California distribution center, and certain transportation, information technology and other office equipment. After entering into a lease in 2016 for our new corporate office, we moved into the new office during the second quarter of 2018. In late 2017, we entered into a synthetic lease arrangement for a new distribution center in California. We are the construction agent for the new distribution center in California and construction began in December 2017. We expect the lease term to commence and to begin operations in 2019 for the new distribution center in California. Many of the store leases obligate us to pay for our applicable portion of real estate taxes, CAM, and property insurance. Certain store leases provide for contingent rents, have rent escalations, and have tenant allowances or other lease incentives. Many of our leases contain provisions for options to renew or extend the original term for additional periods.

Total rent expense, including real estate taxes, CAM, and property insurance for operating leases consisted of the following:



(In thousands)	2018		2017		2016
Minimum rents	$	346,067	$	330,229	$	321,248
Contingent rents	168		469		607
Total rent expense	$	346,235	$	330,698	$	321,855

Future minimum rental commitments for leases, excluding closed store leases, real estate taxes, CAM, and property insurance, at February 2, 2019, were as follows:



Fiscal Year	(In thousands)
2019	$	279,844
2020	244,978
2021	204,362
2022	159,479
2023	120,023
Thereafter	310,474
Total leases	$	1,319,160

We have obligations for capital leases primarily for store asset protection equipment and office equipment, included in accrued operating expenses and other liabilities on our consolidated balance sheet. Additionally, we have recorded the obligation for our synthetic lease arrangement in California in the synthetic lease obligation caption on our consolidated balance sheet. Scheduled payments for all capital leases at February 2, 2019, were as follows:



Fiscal Year	(In thousands)
2019	$	9,050
2020	10,815
2021	9,725
2022	6,992
2023	6,512
Thereafter	127,864
Total lease payments	$	170,958
Less amount to discount to present value	(14,758		)
Capital lease obligation per balance sheet	$	156,200