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LEASES (Tables)
6 Months Ended
Apr. 17, 2022
Leases [Abstract]  
Lease Income
The following table presents rental income (in thousands):
QuarterYear-to-date
April 17,
2022
April 11,
2021
April 17,
2022
April 11,
2021
Operating lease income - franchise$52,988 $54,142 $124,345 $126,384 
Variable lease income - franchise23,540 23,759 55,282 55,266 
Amortization of favorable and unfavorable lease contracts, net28 — 28 — 
Franchise rental revenues$76,556 $77,901 $179,655 $181,650 
Operating lease income - closed restaurants and other (1)$1,407 $1,360 $3,065 $3,225 
____________________________
(1)Primarily relates to closed restaurant properties included in “Other operating expenses, net” in our condensed consolidated statements of earnings.
Finance Lease, Future Minimum Lease Payments
The following table presents as of April 17, 2022, the annual maturities of our lease liabilities (in thousands):
Finance LeasesOperating Leases
Fiscal year:
Remainder of 2022$491 $113,985 
2023979 221,635 
2024400 185,228 
202538 178,781 
202626 161,832 
Thereafter26 845,684 
Total future lease payments (1)$1,960 $1,707,145 
Less imputed interest(96)(360,372)
Present value of lease liabilities$1,864 $1,346,773 
Less current portion(930)(174,065)
Long-term lease obligations$934 $1,172,708 
____________________________
(1)Total future lease payments include non-cancellable commitments of $2.0 million for finance leases and $1,479.2 million for operating leases.
Operating Lease, Future Minimum Lease Payments
The following table presents as of April 17, 2022, the annual maturities of our lease liabilities (in thousands):
Finance LeasesOperating Leases
Fiscal year:
Remainder of 2022$491 $113,985 
2023979 221,635 
2024400 185,228 
202538 178,781 
202626 161,832 
Thereafter26 845,684 
Total future lease payments (1)$1,960 $1,707,145 
Less imputed interest(96)(360,372)
Present value of lease liabilities$1,864 $1,346,773 
Less current portion(930)(174,065)
Long-term lease obligations$934 $1,172,708 
____________________________
(1)Total future lease payments include non-cancellable commitments of $2.0 million for finance leases and $1,479.2 million for operating leases.