The actuarial present value of the projected benefit obligation was determined using weighted average discount rates of 6.0% at August 30, 2003, 7.25% at August 31, 2002, and 7.5% at August 25, 2001. In fiscal years 2003, 2002 and 2001, the assumed increases in future compen- sation levels were generally age weighted rates from 5–10% after the first two years of service using 15% for year one and 12% for year two. The expected long-term rate of return on plan assets was 8.0% at August 30, 2003, and August 31, 2002, and 9.5% at August 25, 2001. Prior service cost is amortized over the estimated average remaining service lives of the plan participants and the unrecognized actuarial loss is amortized over the remaining service period of 8.23 years at August 30, 2003. On January 1, 2003, the Company introduced an enhanced defined contribution plan (“401(k) plan”) pursuant to Section 401(k) of the Internal Revenue Code that replaced the previous 401(k) plan. The 401(k) plan covers substantially all employees that meet the plan’s  service requirements. The new plan features include increased Company matching contributions, immediate 100% vesting of Company  contributions and an increased savings option to 25% of qualified earnings. The Company makes matching contributions, per pay period, up to a specified percentage of employees’ contributions as approved by the Board of Directors. The Company made matching contributions to employee accounts in connection with the 401(k) plan of $4.5 million in fiscal 2003 and $1.4 million in fiscal years 2002 and 2001. Some of the Company’s retail stores, distribution centers and equipment are leased. Most of these leases include renewal options and some include options to purchase and provisions for percentage rent based on sales. Rental expense was $110.7 million in fiscal 2003, $99.0 million in fiscal 2002 and $100.4 million for fiscal 2001. Percentage rentals were insignificant. Minimum annual rental commitments under non-cancelable operating leases were as follows at the end of fiscal 2003: In connection with the Company’s December 2001 sale of the TruckPro business, the Company subleased some properties to the  purchaser for an initial term of not less than 20 years. The Company’s remaining aggregate rental obligation at August 30, 2003 of $31.6  million is entirely offset by the sublease rental agreement. In fiscal 2001, the Company recorded restructuring and impairment charges of $156.8 million. The planned closure of 51 domestic auto parts stores and the disposal of real estate projects in process and excess properties accounted for the largest portion, or $56.1 million, of the charge. In fiscal 2002, these stores were closed, and sales of certain excess properties resulted in gains of approximately $2.6 million. During fiscal 2002, all remaining excess properties were reevaluated. At that time, it was determined that several properties could be developed. This resulted in the reversal of accrued lease obligations totaling $6.4 million. It was also determined that additional writedowns were needed to state remaining excess properties at fair value. These writedowns totaled $9.0 million. During fiscal 2003, AutoZone recognized $4.6  million of gains as a result of the disposition of properties associated with the restructuring and impairment charges in fiscal 2001. AutoZone, Inc. 2003 Annual Report 45 Note L—Restructuring and Impairment Charges Note K—Leases Fiscal Year Amount (in thousands) 2004 $118,269 2005 105,210 2006 92,101 2007 74,303 2008 55,143 Thereafter 226,077 Total minimum payments required 671,103 Less: Sublease rentals (37,762) $633,341