NOTE 6 – LEASING

The following table identifies the future minimum lease payments under all of the Company’s operating leases for each of the next five years and in the aggregate as of December 31, 2017 (in thousands):



	December 31, 2017
	Related Parties		Non-Related Parties		Total
2018	$	4,663	$	288,654	$	293,317
2019	3,210		274,694		277,904
2020	2,389		255,376		257,765
2021	1,922		227,392		229,314
2022	1,164		203,028		204,192
Thereafter	4,476		1,100,193		1,104,669
Total	$	17,824	$	2,349,337	$	2,367,161

See Note 11 for further information concerning the Company’s related party operating leases.

Operating lease commitments:

The Company leases certain office space, retail stores, property and equipment under long-term, non-cancelable operating leases. Most of these leases include renewal options and some include options to purchase, provisions for percentage rent based on sales and/or incremental step increase provisions.

The future minimum lease payments under the Company’s operating leases, in the table above, do not include potential amounts for percentage rent or other operating lease related costs and have not been reduced by expected future minimum sublease income. Expected future minimum sublease income under non-cancelable subleases is approximately $15.7 million at December 31, 2017.

The following table summarizes the net rent expense amounts for the years ended December 31, 2017, 2016 and 2015, which were included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income (in thousands):



	For the Year Ended December 31,
	2017		2016		2015
Minimum operating lease expense	$	289,245	$	273,559	$	263,479
Contingent rents	1,049		892		947
Other lease related occupancy costs	12,478		13,241		12,852
Total rent expense	302,772		287,692		277,278
Less: sublease income	4,158		4,439		4,019
Net rent expense	$	298,614	$	283,253	$	273,259