1 unchanged sentence
The remaining 31 stores (containing 1,614,000 square feet of total space), PDC and the corporate headquarters are leased, with initial lease terms generally ranging from 20 to 30 years, usually with renewal options.
−Removed: Twenty-four of these leased stores are located in shopping centers or city storefronts and the remaining eight are freestanding stores.
+Added: Twenty-three of these leased stores are located in shopping centers or city storefronts and the remaining eight are freestanding stores.
Most of the Company’s leases contain renewal options at increased rents of five years each at the Company’s sole discretion.
2 unchanged sentences
Leases with an initial term of 12 months or less are not recorded on the balance sheet.
−Removed: The Company is obligated under all leases to pay for real estate taxes, utilities and liability insurance, and under certain leases to pay
−Removed: additional amounts based on maintenance and a percentage of sales in excess of stipulated amounts.
+Added: The Company is obligated under all leases to pay for real estate taxes, utilities and liability insurance, and under certain leases to pay additional amounts based on maintenance and a percentage of sales in excess of stipulated amounts.
The Company accounts for rent holidays, escalating rent provisions, and construction allowances on a straight-line basis over the term of the lease.
4 unchanged sentences
The Company is also a general partner in a partnership that is a lessor of one of the Company's freestanding stores.
+Added: On October 13, 2021, Village completed the acquisition of the Galloway store shopping center for $9,800.
+Added: As of July 31, 2021, the right-of-use asset and obligation related to the Galloway store's lease were $873 and $887, respectively.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.