Best Buy 2001 Annual Report Download - page 52

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53
$ in thousands, except per share amounts
Future minimum lease obligations by year (not including percentage rentals) for all operating leases at March 3, 2001, were as follows:
Fiscal Year
2002 $ 388,000
2003 377,0 00
2004 346,0 00
2005 315,0 00
2006 289,0 00
Thereafter 2,282,000
Master Lease
During fiscal 2001, the Company entered into a $60 million, five-year master lease agreement for the purpose of constructing and
leasing new retail locations. An operating lease agreement will be entered into for certain retail stores providing for an initial lease
term of five years. The leases will require payment of real estate taxes, insurance and common area maintenance.
Best Buy Co., Inc.
N otes