17. Commitments and Contingencies Commitments The following table summarizes the Company s contractual obligations and commercial commitments as of January 28, 2012: Contractual Obligations and Commercial Commitments Total 2012 2013 2014 2015 2016 Thereafter (In thousands) Operating leases: Real estate $ 520,485 $ 119,915 $ 104,824 $ 86,525 $ 62,949 $ 50,850 $ 95,422 Equipment 7,061 2,138 1,783 1,527 1,499 114   Merchandise purchases 114,880 114,880           Construction contracts 121 121           Other contractual commitments 10,914 6,538 2,588 1,771 17     Total obligations and commitments $ 653,461 $ 243,592 $ 109,195 $ 89,823 $ 64,465 $ 50,964 $ 95,422 Operating Leases   The Company leases retail space for the majority of its stores as well as office space to accommodate certain corporate service centers with lease terms expiring at various dates through fiscal 2023. Most store leases provide for base rent plus contingent rents, which are a function of sales volume, and also provide that the Company pay real estate taxes, maintenance and other operating expenses applicable to the leased premises. Most store leases also provide renewal options and contain rent escalation clauses. The Company also leases certain computer equipment, certain office equipment and automobiles with lease terms generally ranging between three and five years. Included in the schedule above are eleven executed leases related to Talbots stores not yet opened at January 28, 2012. The schedule also includes the remaining lease payments for five former Talbots Kids and Mens stores, one former J. Jill store and the remaining portion of the former J. Jill office space in Quincy, Massachusetts, whose terms expire at various dates through fiscal 2019. Rent expense during fiscal 2011, 2010 and 2009 was $119.5 million, $121.4 million and $126.0 million, respectively. These amounts include $3.0 million, $3.0 million and $2.0 million, respectively, of percentage rent and contingent rental expense and $0.4 million, $0.4 million and $0.6 million,