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 28, 2014, December 29, 2013 and December 30, 2012, the Company sold fifteen, two and one restaurant properties, respectively, in sale-leaseback transactions for net proceeds of $19,565, $3,144 and $1,177, 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 $373 and $705 were recognized during the years ended December 28, 2014 and December 30, 2012, respectively, and are being amortized over the term of the related leases. There were no deferred gains from sale-leaseback transactions during the year ended December 29, 2013. The amortization of deferred gains from sale-leaseback transactions was $1,793, $1,799 and $1,776 for the years ended December 28, 2014, December 29, 2013 and December 30, 2012, respectively.

Minimum rent commitments under capital and non-cancelable operating leases at December 28, 2014 were as follows:



Fiscal year ending:	Capital			Operating
January 3, 2016	$	1,812		$	53,867
January 1, 2017	1,812			52,216
December 31, 2017	1,812			50,136
December 30, 2018	1,818			48,127
December 29, 2019	1,819			45,906
Thereafter	1,500			391,238
Total minimum lease payments	10,573			$	641,490
Less amount representing interest	(1,879		)
Total obligations under capital leases	8,694
Less current portion	(1,272		)
Long-term obligations under capital leases	$	7,422

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



	Year ended
	December 28, 2014		December 29, 2013		December 30, 2012
Minimum rent on real property	$	45,371	$	43,650	$	34,758
Contingent rent on real property	3,494		3,548		3,125
Restaurant rent expense	48,865		47,198		37,883
Administrative and equipment rent	264		225		174
	$	49,129	$	47,423	$	38,057