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Leases (Notes)

12 Months Ended

Dec. 31, 2014

We lease a wide variety of facilities and equipment under operating leases, including land, building space, equipment and vehicles. Most long-term leases include renewal options and, in certain leases, purchase options. Future minimum commitments for capital lease obligations and for operating lease obligations having noncancellable lease terms in excess of one year are as follows:



(In millions)	Capital Lease Obligations			Operating Lease Obligations
2015	$	1		$	40
2016	1			33
2017	1			26
2018	1			24
2019	1			24
Later years	19			32
Sublease rentals	—			(3		)
Total minimum lease payments	$	24		$	176
Less imputed interest costs	(15		)
Present value of net minimum lease payments	$	9

Operating lease rental expense related to continuing operations was $120 million, $105 million and $98 million in 2014, 2013 and 2012.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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