Lease Commitments

12 Months Ended

Jan. 31, 2015

Rent expense charged to operations was $277 million for 2014, $270 million for 2013, and $265 million for 2012. In addition to rent payments, we are often required to pay real estate taxes, insurance and maintenance costs on leased properties. These items are not included in the future minimum lease payments listed below. Many store leases include multiple renewal options, exercisable at our option, that generally range from four to eight additional five-year periods.

Future minimum lease payments at January 31, 2015 were as follows:



	Capital Lease and Financing Obligations			Operating Leases
	(Dollars In Millions)
Fiscal year:
2015	$	279		$	246
2016	282			242
2017	271			239
2018	255			240
2019	238			236
Thereafter	2,866			4,597
	4,191			$	5,800
Non-cash gain on future sale of property	458
Amount representing interest	(2,681		)
Present value of lease payments	$	1,968

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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