Leased Property Under Capital Leases

3 Months Ended

Apr. 01, 2012

Leased Property Under Capital Leases [Abstract]

Leased Property Under Capital Leases

6. Leased Property Under Capital Leases

Leased property under capital leases was summarized as follows:

In Thousands	April 1, 2012		Jan. 1, 2012		April 3, 2011		Estimated Useful Lives
Leased property under capital leases	$	95,509	$	95,509	$	95,428		3-20 years
Less: Accumulated amortization		37,194		35,705		31,240
Leased property under capital leases, net	$	58,315	$	59,804	$	64,188

As of April 1, 2012, real estate represented $58.2 million of the leased property under capital leases and $39.8 million of this real estate is leased from related parties as described in Note 19 to the consolidated financial statements.

In Q1 2011, the Company entered into leases for two sales distribution centers. Each lease has a term of fifteen years with various monthly rental payments. The two leases added $18.6 million, at inception, to the leased property under capital leases balance.

The Company’s outstanding obligations for capital leases were $73.0 million, $74.1 million and $76.9 million as of April 1, 2012, January 1, 2012 and April 3, 2011, respectively.