Note 15. Leased Assets and Lease Commitments

12 Months Ended

Sep. 24, 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 $11,920 related to operating leases receivable under non-cancelable subleases. The property and equipment cost related to finance obligations and capital leases as of September 24, 2014 is as follows: $72,941 buildings, $61,663 land, $29,506 land and leasehold improvements, $2,361 equipment and $70,612 accumulated depreciation.

On September 24, 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	$	14,913	$  673		$ 15,586		$	16,380	$	555
2016		13,421		487		13,908		13,940		557
2017		10,629		300		10,929		12,289		648
2018		8,437		232		8,669		11,266		836
2019		6,632		—		6,632		10,238		975
After 2019	7,904		—		7,904		50,972		8,102
Total minimum future rental payments	61,936		1,692		63,628		$ 115,085		$             11,673
Less amount representing interest	35,046		149		35,195
Total principal obligations under leases	26,890		1,543		28,433
Less current portion	5,869		602		6,471
Non-current principal obligations under leases	21,021		941		21,962
Residual value at end of lease term	77,756		—		77,756
Obligations under leases	$   98,777		$         941		$  99,718

Contingent rent totaling $1,549 in fiscal year 2014, $1,356 in fiscal year 2013 and $1,173 in fiscal year 2012 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.