Leases:

The Company leases the majority of its retail store locations, two distribution sites, its Merchandise Innovation Center, transportation equipment, and other equipment under various non-cancellable operating leases. The leases have varying terms and expire at various dates through 2037. Store leases typically have initial terms of between 10 and 15 years, with two to four optional renewal periods of five years each. Some leases require the payment of contingent rent that is based upon store sales above agreed-upon sales levels for the year. The sales levels vary for each store and are established in the lease agreements. Generally, most of the leases also require that the Company pays associated taxes, insurance, and maintenance costs.

Total rent expense was approximately $342.2 million, $319.5 million, and $293.0 million for fiscal 2018, 2017, and 2016, respectively. Total contingent rent expense was insignificant for fiscal 2018, 2017, and 2016.

Future minimum payments, by year and in the aggregate, under leases with initial or remaining terms of one year or more consist of the following (in thousands):



	Capital Leases			Operating Leases
2019	$	5,215		$	344,836
2020	5,234			328,589
2021	5,294			306,572
2022	4,172			284,327
2023	2,980			260,518
Thereafter	20,169			1,175,972
Total minimum lease payments	43,064			$	2,700,814
Amount representing interest	(10,148		)
Present value of minimum lease payments	32,916
Less: current portion	(3,646		)
Long-term capital lease obligations	$	29,270

Assets under capital leases were as follows (in thousands):



	December 29, 2018			December 30, 2017
Building and improvements, gross	$	29,324		$	29,324
Computer software and hardware	11,388			11,388
Less: accumulated depreciation and amortization	(10,690		)	(6,462		)
Assets under capital lease, net	$	30,022		$	34,250