NOTE 12—LEASES

The following table sets forth the future minimum rental payments, by calendar year, required under existing operating leases and digital projector equipment leases payable to DCIP that have initial or remaining non-cancelable terms in excess of one year as of December 31, 2012:

(In thousands)	Minimum operating lease payments

2013	$	397,631
2014		408,209
2015		399,584
2016		382,745
2017		361,082
Thereafter		1,661,501

Total minimum payments required	$	3,610,752

As of December 31, 2012, the Company has lease agreements for three theatres with 33 screens which are under construction or development and are expected to open in 2014 and 2018.

Included in other long-term liabilities as of December 31, 2012 and March 29, 2012 is $10,318,000 and $126,224,000, respectively, of deferred rent representing future minimum rental payments for leases with scheduled rent increases, and $211,329,000 and $125,772,000, respectively, for unfavorable lease liabilities.

Rent expense is summarized as follows:

(In thousands)	From Inception August 31, 2012 through December 31, 2012		March 30, 2012 through August 30, 2012		52 Weeks Ended March 29, 2012		52 Weeks Ended March 31, 2011

	(Successor)		(Predecessor)		(Predecessor)		(Predecessor)
Minimum rentals	$	126,529	$	166,220	$	394,742	$	401,563
Common area expenses		12,968		17,591		40,918		43,060
Percentage rentals based on revenues		3,877		5,275		9,666		7,251

Rent		143,374		189,086		445,326		451,874
General and administrative and other		3,940		4,207		8,747		4,665

Total	$	147,314	$	193,293	$	454,073	$	456,539