Leases-Company as Lessor (Notes)

12 Months Ended

Dec. 31, 2013

LEASES—THE COMPANY AS LESSOR

The Company leases land, buildings, and land improvements under operating leases. The historical cost of, and accumulated depreciation on, leased property at December 31, 2013 and 2012 were as follows (in millions):



	2013			2012
Leased property - real estate	$	1,100.0		$	844.3
Less accumulated depreciation	(99.5		)	(130.8		)
Property under operating leases - net	$	1,000.5		$	713.5

Total rental income, excluding tenant reimbursements (which totaled $24.1 million, $21.5 million, and $20.9 million for the years ended December 31, 2013, 2012, and 2011, respectively), under these operating leases was as follows (in millions):



Years Ending December 31,	2013		2012		2011
Minimum rentals	$	80.5	$	74.3	$	74.3
Contingent rentals (based on sales volume)	3.0		2.8		2.0
Total	$	83.5	$	77.1	$	76.3

Future minimum rentals on non-cancelable leases at December 31, 2013 were as follows (in millions):



	OperatingLeases
2014	$	82.8
2015	$	75.1
2016	$	63.6
2017	$	53.9
2018	$	43.8
Thereafter	$	329.6
Total	$	648.8

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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