LEASES

12 Months Ended

Oct. 02, 2012

Leases [Abstract]

LEASES

7. LEASES

The Company leases certain equipment under agreements expiring during the next 2 years and leases most of its stores under agreements that expire during the next 16 years. It is expected that certain store leases will be renewed by exercising options or replaced by leases of other properties. Most store leases provide for additional rentals based on sales, and certain store facilities are sublet under leases expiring during the next 9 years. Certain leases also contain rent escalation clauses (step rents) that require additional rental amounts in the later years of the term. Rent expense for the last three fiscal years was as follows (in thousands):

		2012		2011		2010
Minimum, net of sublease income	$	99,289	$	94,901	$	94,336
Contingent		1,378		1,252		1,401
Total	$	100,667	$	96,153	$	95,737

Future minimum lease commitments (excluding leases assigned - see below) and total minimum sublease rental income to be received under non-cancelable subleases as of October 2, 2012 were as follows (in thousands):

		Operating					Capital
Fiscal Year		Leases		Subleases			Leases
2013	$	105,054	$	(1,225	)	$	12,535
2014		106,686		(1,157	)		12,632
2015		108,817		(789	)		12,635
2016		106,122		(520	)		12,685
2017		102,298		(386	)		12,731
Later years		1,020,776		(31	)		142,011
Total minimum lease obligations (receivables)	$	1,549,753	$	(4,108	)		205,229
Amount representing interest							(94,742	)
Present value of net minimum obligation (included with long-term debt)						$	110,487

In connection with the closing of certain store locations, the Company has assigned leases to several sub-tenants with recourse. These leases expire over the next 9 years and the future minimum lease payments totaling $32,880,000 over this period have been assumed by these sub-tenants.