Lease Commitments

12 Months Ended

Jan. 28, 2017

Rent expense charged to operations was $276 million for 2016, $279 million for 2015, and $277 million for 2014. In addition to rent payments, we are often required to pay real estate taxes, insurance and maintenance costs on leased properties. These items are not included in the future minimum lease payments listed below. Many store leases include multiple renewal options, exercisable at our option, that generally range from four to eight additional five-year periods.

Future minimum lease payments at January 28, 2017 were as follows:



(Dollars in Millions)	Capital Lease and Financing Obligations			Operating Leases
Fiscal year:
2017	$	286		$	253
2018	272			254
2019	255			249
2020	238			245
2021	222			241
Thereafter	2,372			4,067
	3,645			$	5,309
Non-cash gain on future sale of property	471
Amount representing interest	(2,300		)
Present value of lease payments	$	1,816