Leases

The Company utilizes land and buildings in its operations under various lease agreements. The Company does not consider any one of these individual leases material to the Company's operations. Initial lease terms are generally for twenty years and, in many cases, provide for renewal options and in most cases rent escalations. Certain leases require contingent rent, determined as a percentage of sales as defined by the terms of the applicable lease agreement. For most locations, the Company is obligated for occupancy related costs including payment of property taxes, insurance and utilities.

In the years ended December 29, 2013, December 30, 2012 and January 1, 2012, the Company sold two, one and two restaurant properties, respectively, in sale-leaseback transactions for net proceeds of $3,144, $1,177 and $2,818, respectively. These leases have been classified as operating leases and contain a twenty-year initial term plus renewal options.

Deferred gains from sale-leaseback transactions of Burger King restaurant properties of $705 and $133 were recognized during the years ended December 30, 2012 and January 1, 2012, respectively, and are being amortized over the term of the related leases. The amortization of deferred gains on sale-leaseback transactions was $1,799, $1,776 and $1,987 for the years ended December 29, 2013, December 30, 2012 and January 1, 2012, respectively.

Minimum rent commitments under capital and non-cancelable operating leases at December 29, 2013 were as follows:



Fiscal year ending:	Capital			Operating
December 28, 2014	$	1,734		$	44,099
January 3, 2016	1,733			42,450
January 1, 2017	1,733			41,019
December 31, 2017	1,733			38,136
December 30, 2018	1,739			36,053
Thereafter	2,982			298,768
Total minimum lease payments	11,654			$	500,525
Less amount representing interest	(2,318		)
Total obligations under capital leases	9,336
Less current portion	(1,147		)
Long-term obligations under capital leases	$	8,189

Total rent expense on operating leases, including contingent rent on both operating and capital leases, was as follows:



	Year ended
	December 29, 2013		December 30, 2012		January 1, 2012
Minimum rent on real property	$	43,650	$	34,758	$	20,765
Contingent rent on real property	3,548		3,125		1,900
Restaurant rent expense	47,198		37,883		22,665
Administrative and equipment rent	225		174		114
	$	47,423	$	38,057	$	22,779