Note 15. Leased Assets and Lease Commitments

3 Months Ended

Dec. 31, 2014

Note 15. Leased Assets And Lease Commitments

Note 15. Leased Assets and Lease Commitments

We lease certain physical facilities under non-cancelable lease agreements. These leases require the payment of real estate taxes, insurance and maintenance costs. Certain leased facilities, which are no longer operated but are subleased to third parties or franchisees, are classified below as non-operating properties. Minimum future rental payments for non-operating properties have not been reduced by minimum sublease rentals of $11,897 related to operating leases receivable under non-cancelable subleases. The property and equipment cost related to finance obligations and capital leases as of December 31, 2014 is as follows: $72,941 buildings, $61,663 land, $29,505 land and leasehold improvements, $2,352 equipment and $71,888 accumulated depreciation.

On December 31, 2014, obligations under non-cancelable finance obligations, capital leases, and operating leases (excluding real estate taxes, insurance and maintenance costs) require the following minimum future rental payments.

							Operating Leases
Year	Finance Obligations		Capital Leases		Total		Operating Property		Non-Operating Property
2015	$	15,138	$  673		$ 15,811		$	17,156	$	666
2016		13,682		394		14,076		15,025		670
2017		11,046		320		11,366		13,154		753
2018		8,937		66		9,003		12,410		861
2019		6,784		—		6,784		11,233		898
After 2019	8,348		—		8,348		58,276		7,426
Total minimum future rental payments	63,935		1,453		65,388		$ 127,254		$             11,274
Less amount representing interest	37,004		110		37,114
Total principal obligations under leases	26,931		1,343		28,274
Less current portion	5,808		614		6,422
Non-current principal obligations under leases	21,123		729		21,852
Residual value at end of lease term	76,287		—		76,287
Obligations under leases	$   97,410		$         729		$  98,139

Contingent rent totaled $356 in the 2014 transition period and $295 in the 2013 transition period. Contingent rent totaled $1,549, $1,356, and $1,173 in fiscal years 2014, 2013 and 2012, respectively. Contingent rent is recorded in restaurant cost of sales in the accompanying consolidated statement of earnings. 

Non-cancellable finance obligations were created when the Company, under prior management, entered into certain build-to-suit or sale leaseback arrangements. As a result of continuing involvement in the underlying leases (generally due to right of substitution or purchase option provisions of the leases), the Company accounts for the leases as financings.