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, 2018 (in thousands):



	December 31, 2018
	Related Parties		Non-Related Parties		Total
2019	$	4,682	$	305,061	$	309,743
2020	3,896		288,972		292,868
2021	3,429		260,794		264,223
2022	2,671		236,485		239,156
2023	2,448		206,003		208,451
Thereafter	3,515		1,111,088		1,114,603
Total	$	20,641	$	2,408,403	$	2,429,044

See Note 12 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 $15.6 million at December 31, 2018.

The following table summarizes the net rent expense amounts for the years ended December 31, 2018, 2017 and 2016, which were included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income (in thousands):



	For the Year Ended December 31,
	2018		2017		2016
Minimum operating lease expense	$	305,613	$	289,245	$	273,559
Contingent rents	806		1,049		892
Other lease related occupancy costs	14,449		12,478		13,241
Total rent expense	320,868		302,772		287,692
Less: sublease income	3,585		4,158		4,439
Net rent expense	$	317,283	$	298,614	$	283,253