Financing Obligations (Tables)

12 Months Ended

Dec. 31, 2014

As of December 31, 2014, future minimum lease payments under financing obligations during the initial terms of the leases related to the sale-leaseback transactions are as follows:



Fiscal Years	(In millions)
2015 ⁽¹⁾	$	5.4
2016	5.0
2017 ⁽¹⁾	4.6
2018	5.2
2019	5.5
Thereafter	75.8
Total minimum lease payments	101.5
Less: interest	(58.8		)
Total financing obligations	42.7
Less: current portion⁽²⁾	(0.1		)
Long-term financing obligations	$	42.6

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⁽¹⁾	Due to the varying closing date of the Company's fiscal year, 13 monthly payments will be made in fiscal 2015 and 11 monthly payments in fiscal 2017.


⁽²⁾	Included in current maturities of capital lease and financing obligations on the consolidated balance sheet.

- Definition

Tabular disclosure of leases entered into in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller was accounted for as an operating or capital lease. If the sale of the asset(s) did not meet the requirements to be accounted for as a sale whether the transaction was accounted for using the deposit method or as a financing. Disclosure may also include a description of the terms of the sale-leaseback transaction, including future commitments, obligations, provisions, or circumstances that require or result in the seller-lessee's continuing involvement. For leasing transactions involving "Special Purpose Entities"', disclosure may include a general description of the significant terms of the leasing arrangement including renewal or purchase options, escalation clauses, obligations with respect to refinancing of the lessor's debt, significant penalties and the provisions of any significant guarantees, such as residual value guarantees.

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