LEASES

We have summarized our future obligations under operating leases at year-end 2011, below:



($ in millions)	Minimum Lease Payments
Fiscal Year
2012	$	136
2013	125
2014	115
2015	115
2016	100
Thereafter	734
Total minimum lease payments where we are the primary obligor	$	1,325

Most leases have initial terms of up to 20 years and contain one or more renewal options, generally for five- or 10-year periods. These leases provide for minimum rentals and additional rentals based on our operations of the leased property. The total minimum lease payments above include $266 million, representing obligations of consolidated subsidiaries that are non-recourse to us.

The foregoing table does not reflect the following $31 million in aggregate minimum lease payments relating to the CTF leases further discussed in Footnote No. 20, “Variable Interest Entities,” $12 million in 2012; $11 million in 2013; and $8 million in 2014.

The following table details the composition of rent expense associated with operating leases for the last three years:



($ in millions)	2011		2010		2009
Minimum rentals	$	240	$	252	$	262
Additional rentals	66		67		63
	$	306	$	319	$	325

We have summarized our future obligations under capital leases at year-end 2011 in the following table:



($ in millions)	Minimum Lease Payments
Fiscal Year
2012	$	3
2013	3
2014	59
2015	1
2016	1
Thereafter	4
Total minimum lease payments	71
Less: amount representing interest	(7		)
Present value of net minimum lease payments	$	64

The “Long-term debt” caption in the accompanying Balance Sheets includes $64 million for year-end 2011 and $6 million for year-end 2010 that represents the present value of net minimum lease payments associated with capital leases.