Lease Commitments

12 Months Ended

Jan. 29, 2011

5.	Lease Commitments

Rent expense charged to operations was $264 million for 2010, $253 million for 2009 and $240 million for 2008. Rent expense includes contingent rents, which are based on sales, of $3 million for 2010, $2 million for 2009 and $3 million for 2008. In addition, we are often required to pay real estate taxes, insurance and maintenance costs. These items are not included in the rent expenses listed above. 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 29, 2011, are as follows:


	Capital Lease and Financing Obligations			Operating Leases
	(In Millions) (Restated)
Fiscal year:
2011	$	281		$	233
2012		271			230
2013		266			228
2014		256			228
2015		247			229
Thereafter		3,542			5,198

		4,863		$	6,346

Non-cash gain on sale of property		426
Amount representing interest		(3,185	)

Present value of lease payments	$	2,104