NOTE 18COMMITMENTS AND CONTINGENCIES Leases The Company leases certain property consisting of retail and outlet stores, corporate offices, distribution centers and equipment. A majority of the Companys leases expire at various dates through fiscal 2032. The Company has a lease for one gallery location that expires in fiscal 2058. The stores, distribution centers and corporate office leases generally provide that the Company assumes the maintenance and all or a portion of the property tax obligations on the leased property. Most store leases also provide for minimum annual rent payments, with provisions for additional rent based on a percentage of sales, after meeting certain sales thresholds, and for payment of certain expenses. The aggregate future minimum rent payments under leases in effect as of January 30, 2016, are as follows ( in thousands ): Lease agreements accounted for as: Capital Leases (1) Operating Leases Build-to-Suit Total 2016 $ 1,147 $ 78,586 $ 17,523 $ 97,256 2017 1,116 67,038 35,353 103,507 2018 1,132 58,518 38,200 97,850 2019 1,155 54,219 39,993 95,367 2020 1,194 48,684 40,525 90,403 Thereafter 10,374 334,880 631,528 976,782 Minimum lease commitments 16,118 $ 641,925 $ 803,122 $ 1,461,165 Lessamount representing interest (8,537 ) Present value of capital lease obligations 7,581 Lesscurrent capital lease obligations (182 ) Non-current capital lease obligations $ 7,399 (1) The current and non-current capital lease obligations are included in other current liabilities and other non-current obligations, respectively, on the consolidated balance sheets. Lease payments that depend on factors that are not measurable at the inception of the lease, such as future sales volume, represent contingent rent expense and are excluded from minimum lease payments and included in the determination of total rent expense when it is probable that the expense has been incurred and the amount is reasonably estimable. Future payments for insurance, real estate taxes and repair and maintenance to which the Company