Note 14. Leased Assets and Lease Commitments

12 Months Ended

Dec. 31, 2015

Note 14. Leased Assets And Lease Commitments

Note 14. 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 $10,863 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, 2015 is as follows: $69,919 buildings, $59,678 land, $28,157 land and leasehold improvements, $2,312 equipment and $72,474 accumulated depreciation.

On December 31, 2015, 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
2016	$	14,449	$	394	$	14,843	$	16,323	$	670
2017		12,633		320		12,953		14,686		753
2018		10,638		66		10,704		13,912		861
2019		8,516		-		8,516		12,554		898
2020		4,805		-		4,805		11,439		969
After 2020		6,832		-		6,832		50,986		6,954
Total minimum future rental payments		57,873		780		58,653		$119,900	$	$11,105
Less amount representing interest		34,327		50		34,377
Total principal obligations under leases		23,546		730		24,276
Less current portion		5,426		361		5,787
Non-current principal obligations under leases		18,120		369		18,489
Residual value at end of lease term		71,689		-		71,689
Obligations under leases	$	89,809	$	369	$	90,178

Rent expense is presented below.

			Transition Period				Fiscal Year
	2015		2014		2013		2014		2013
					(Unaudited)
Minimum rent	$	18,476	$	5,069	$	4,706	$	18,322	$	17,097
Contingent rent		2,022		356		295		1,549		1,356
Rent expense	$	20,498	$	5,425	$	5,001	$	19,871	$	18,453

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.