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Operating Leases
12 Months Ended
Apr. 27, 2019
Operating Leases  
Operating Leases

Note 10: Operating Leases

 

We have operating leases for numerous retail facilities, two manufacturing facilities in Mexico and one in Thailand, executive and sales offices, warehouses and showrooms, as well as for transportation equipment, information technology, and other equipment. The operating leases expire at various dates through fiscal 2033. We have certain retail facilities which we sublease to outside parties. The total rent liability included in other long-term liabilities as of April 27, 2019, and April 28, 2018, was $14.6 million and $13.2 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):

 

 

 

 

 

 

 

 

 

 

Future

 

Future

 

 

Minimum

 

Minimum

(Amounts in thousands)

    

Rentals

    

Income

2020

 

$

76,508

 

$

3,220

2021

 

 

71,544

 

 

2,571

2022

 

 

58,763

 

 

888

2023

 

 

46,541

 

 

461

2024

 

 

36,082

 

 

461

2025 and beyond

 

 

102,782

 

 

465

Total

 

$

392,220

 

$

8,066

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

(52 weeks)

 

(52 weeks)

 

(53 weeks)

(Amounts in thousands)

    

4/27/2019

    

4/28/2018

    

4/29/2017

Rental expense

 

$

77,168

 

$

71,022

 

$

68,452

Rental income

 

 

2,642

 

 

3,039

 

 

3,604

 

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