LONG-TERM LEASES

12 Months Ended

Jan. 28, 2017

Leases [Abstract]

LONG-TERM LEASES

NOTE 6 — LONG-TERM LEASES

The Company leases certain of its store locations under noncancelable operating leases that require monthly rental payments primarily at fixed rates (although a number of the leases provide for additional rent based upon sales) expiring at various dates through fiscal 2029. None of our operating leases contain residual value guarantees. Many of these leases contain renewal options and require the Company to pay taxes, maintenance, insurance and certain other operating expenses applicable to the leased properties. In addition, the Company leases various equipment under noncancelable operating leases. Total rent expense under operating leases was $59.0 million, $58.6 million and $61.3 million, for 2016, 2015 and 2014, respectively. Total contingent rentals included in operating leases above was $0.6 million for 2016, $0.7 million for 2015 and $0.9 million for 2014.

Future minimum rental payments under all operating leases as of January 28, 2017 are as follows:

(in thousands)	Operating Leases
2017	$	45,919
2018		35,083
2019		27,168
2020		22,424
2021		18,604
Thereafter		41,489
Total minimum lease payments	$	190,687

The gross amount of property and equipment under capital leases was $5.1 million at both January 28, 2017 and January 30, 2016. Accumulated amortization on property and equipment under capital leases was $5.1 million at both January 28, 2017 and January 30, 2016. There was no amortization expense on assets under capital lease for 2016 and 2015.