COSTCO WHOLESALE CORP /NEW | 2013 | FY | 3


Note 5—Leases
Operating Leases
The aggregate rental expense for 2013, 2012 and 2011 was $225, $220, and $208, respectively. Sub-lease income, included in interest income and other, net, and contingent rents are not material.
Capital Leases
Gross assets recorded under capital leases were $201 and $187, at the end of 2013 and 2012, respectively. These assets are recorded net of accumulated amortization of $28 and $19 at the end of 2013 and 2012, respectively.
At the end of 2013, future minimum payments, net of sub-lease income of $150 for all years combined, under non-cancelable operating leases with terms of at least one year and capital leases were as follows:
 
 
Operating
Leases
 
Capital
Leases
2014
$
189

 
$
17

2015
175

 
17

2016
167

 
16

2017
160

 
16

2018
153

 
16

Thereafter
1,753

 
338

Total
$
2,597

 
420

Less amount representing interest
 
 
(224
)
Net present value of minimum lease payments
 
 
196

Less current installments(1)
 
 
(4
)
Long-term capital lease obligations less current installments(2)
 
 
$
192

_______________
(1)
Included in other current liabilities.
(2)
Included in deferred income taxes and other liabilities.

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