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Operating Leases
12 Months Ended
Apr. 30, 2016
Operating Leases  
Operating Leases

 

Note 11: Operating Leases

We have operating leases for one manufacturing facility, executive and sales offices, warehouses, showrooms and retail facilities, as well as for transportation equipment, information technology and other equipment. The operating leases expire at various dates through fiscal 2032. We have certain retail facilities which we sublease to outside parties. The total rent liability included in other long-term liabilities as of April 30, 2016, and April 25, 2015, was $14.8 million and $13.5 million, respectively.

The future minimum rentals for all non-cancelable operating leases and future rental income from subleases are as follows (for the fiscal years):

                                                                                                                                                                                    

(Amounts in thousands)

 

Future
Minimum
Rentals

 

Future
Minimum
Income

 

2017

 

$

63,256 

 

$

3,969 

 

2018

 

 

60,817 

 

 

3,906 

 

2019

 

 

54,574 

 

 

3,906 

 

2020

 

 

48,032 

 

 

3,934 

 

2021

 

 

44,238 

 

 

3,309 

 

2022 and beyond

 

 

105,461 

 

 

4,969 

 

​  

​  

​  

​  

Total

 

$

376,378 

 

$

23,993 

 

​  

​  

​  

​  

​  

​  

​  

​  

Rental expense and rental income from continuing operations for operating leases were as follows (for the fiscal years ended):

                                                                                                                                                                                    

(Amounts in thousands)

 

4/30/2016

 

4/25/2015

 

4/26/2014

 

Rental expense

 

$

62,953 

 

$

55,808 

 

$

51,132 

 

Rental income

 

 

4,650 

 

 

4,966 

 

 

5,138 

 

Both our rental expense and rental income are included in selling, general, and administrative expense in our consolidated statement of income.