LEASES

The Company leases retail locations, warehouses, showrooms, office space and equipment. The leases, excluding equipment leases, generally provide for the payment of real estate taxes and certain other occupancy expenses. Retail location leases generally are renewable and provide for the payment of percentage rentals based on location sales and other costs associated with the leased property.

At January 29, 2012, minimum annual rental commitments under non-cancelable leases were as follows:



	Capital Leases			Operating Leases		Total
2012	$	8,710		$	288,621	$	297,331
2013	6,516			243,716		250,232
2014	4,524			215,782		220,306
2015	2,068			193,415		195,483
2016	1,393			165,569		166,962
Thereafter	8,197			582,182		590,379
Total minimum lease payments	31,408			$	1,689,285	$	1,720,693
Less: Amount representing interest	(4,655		)
Present value of net minimum capital lease payments	$	26,753

The Company’s retail location leases represent $1,217,321 of the total minimum lease payments. The Company’s administrative offices and showrooms located in New York, New York represent $102,122 of the total minimum lease payments. The Company’s corporate, finance and retail administrative offices located in Bridgewater, New Jersey represent $51,503 of the total minimum lease payments. The Company’s Calvin Klein administrative offices and showrooms represent $32,861 of the total minimum lease payments. The Company’s Tommy Hilfiger administrative offices and showrooms, most of which are located in Amsterdam, The Netherlands and New York, New York represent $84,858 and $80,539, respectively, of the total minimum lease payments.

At January 29, 2012, aggregate future minimum rentals to be received under non-cancelable capital and operating subleases were $0 and $23,306, respectively.

Rent expense was as follows:



	2011			2010			2009
Minimum	$	290,936		$	239,425		$	114,538
Percentage and other	95,352			49,069			26,656
Less: Sublease rental income	(3,441		)	(2,925		)	(1,164		)
Total	$	382,847		$	285,569		$	140,030

The gross book value of assets under capital leases, which are classified within property, plant and equipment in the Company’s Consolidated Balance Sheets, amounted to $40,270 and $30,459 as of January 29, 2012 and January 30, 2011, respectively. Accumulated amortization related to assets under capital leases amounted to $10,570 and $3,421 as of January 29, 2012 and January 30, 2011, respectively. The Company includes amortization of assets under capital leases in depreciation and amortization expense. The Company incurred $0 during each of the years ended January 29, 2012 and January 30, 2011 in percentage rentals under capital leases.