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Leases
12 Months Ended
Jan. 28, 2017
Leases [Abstract]  
Leases

15. Leases



The Company is obligated under operating leases for almost all of its store properties. Some of the store leases contain renewal options with varying terms and conditions. Management expects that in the normal course of business, expiring leases will generally be renewed or, upon making a decision to relocate, replaced by leases on other premises. Operating lease periods generally range from 5 to 10 years.



Certain leases provide for additional rent payments based on a percentage of store sales. Also, most of the Company’s leases require the payment of certain executory costs such as insurance, maintenance, and other costs in addition to the future minimum lease payments. These costs, including the amortization of lease rights, totaled $141 million in 2016,  $137 million in 2015, and $132 million in 2014.  

Included in the amounts below are non-store expenses that totaled $24 million in 2016, $18 million in 2015, and $17 million in 2014.





 

 

 

 

 

 



 

 

 

 

 

 



2016

2015

2014



($ in millions)

Minimum rent

$

667 

$

618 

$

615 

Contingent rent based on sales

 

29 

 

27 

 

25 

Sublease income

 

(6)

 

(5)

 

(5)



$

690 

$

640 

$

635 



Future minimum lease payments under non-cancellable operating leases, net of future non-cancellable operating sublease payments, are:







 

 



 

 



($ in millions)

2017

$

624 

2018

 

581 

2019

 

535 

2020

 

495 

2021

 

460 

Thereafter

 

1,730 

Total operating lease commitments

$

4,425