5. LEASES

The Company’s operations utilize property, facilities, equipment and vehicles owned by the Company or leased from others. Buildings and facilities leased from others are primarily for restaurants and support facilities. Restaurants are operated under lease arrangements that generally provide for a fixed base rent and, in some instances, contingent rent based on a percentage of gross operating profit or net revenues in excess of a defined amount. Initial terms of land and restaurant building leases generally have terms of 20 years, exclusive of options to renew. Leases of equipment primarily consist of restaurant equipment, computer systems and vehicles. The Company subleases facilities to certain franchisees and other non-related parties which are recorded on a straight-line basis.

Information regarding the Company’s future lease obligations at December 28, 2016 is as follows (in thousands):

	Capital Leases					Operating Leases
For the Years Ending	Minimum Lease Payments			Minimum Sublease Income		Minimum Lease Payments		Minimum Sublease Income
December 27, 2017	$	199		$	28	$	23,884	$	1,091
December 26, 2018		172			—		23,831		932
December 25, 2019		95			—		22,811		728
December 30, 2020		54			—		21,604		389
December 29, 2021		54			—		20,464		365
Thereafter		46			—		170,550		1,286
Total	$	620		$	28	$	283,144	$	4,791
Less: imputed interest (11.0% to 14.8%)		(159	)
Present value of capital lease obligations		461
Less: current maturities		(144	)
Noncurrent portion	$	317

Net rent expense is as follows (in thousands):

For the Years Ended	December 28, 2016			December 30, 2015			December 31, 2014
Base rent	$	22,089		$	19,944		$	19,067
Contingent rent		209			96			350
Less: sublease income		(2,540	)		(2,620	)		(3,572	)
Net rent expense	$	19,758		$	17,420		$	15,845

Base rent and contingent rent are included in occupancy and other operating expenses, while sublease income is included in franchise revenue in the accompanying consolidated statements of income. Sublease income includes contingent rental income of $1.0 million, $1.1 million, and $1.6 million for fiscal 2016, 2015, and 2014, respectively.

The Company is a lessor for certain property, facilities and equipment owned by the Company and leased to others, principally franchisees, under noncancelable leases with initial terms ranging from three to nine years. The lease agreements generally provide for a fixed base rent and, in some instances, contingent rent based on a percentage of gross operating profit or net revenues. Total rental income included in franchise revenue in the accompanying consolidated statements of income for leased property was $0.5 million, $0.4 million and $0.4 million for fiscal 2016, 2015, and 2014, respectively.

Minimum future rental income for company-operated properties under noncancelable operating leases, which is recorded on a straight-line basis, in effect as of December 28, 2016, is as follows (in thousands):

For the Years Ending
December 27, 2017	$	274
December 26, 2018		274
December 25, 2019		184
December 30, 2020		188
December 29, 2021		146
Thereafter		484
Total future minimum rental income	$	1,550