COMMITMENTS

We lease certain plants, warehouses, terminals, office facilities, railcars and various types of equipment under operating leases, some of which include rent payment escalation clauses, with lease terms ranging from one to ten years. In addition to minimum lease payments, some of our office facility leases require payment of our proportionate share of real estate taxes and building operating expenses.

We have long-term agreements for the purchase of sulfur which is used in the production of phosphoric acid. In addition, we have long-term agreements for the purchase of raw materials, including a commercial offtake agreement with the Miski Mayo Mine for phosphate rock and an agreement with CF for the purchase of ammonia, used to produce phosphate products. We have long-term agreements for the purchase of natural gas, which is a significant raw material, used primarily in the solution mining process in our Potash segment and used in our phosphate concentrates plants. Also, we have agreements for capital expenditures primarily in our Potash segments related to our expansion projects.

A schedule of future minimum long-term purchase commitments, based on December 31, 2014 market prices, and minimum lease payments under non-cancelable operating leases as of December 31, 2014 follows:



(in millions)	Purchase Commitments		Operating Leases
2015	$	2,420.6	$	58.0
2016	532.4		50.1
2017	422.1		43.9
2018	364.9		34.5
2019	366.0		29.1
Subsequent years	4,189.4		90.6
	$	8,295.4	$	306.2

Rental expense for calendar 2014, seven months ended December 31, 2013, fiscal 2013 and 2012 amounted to $108.9 million, $56.5 million, $88.8 million and $80.0 million, respectively. Purchases made under long-term commitments were $2.3 billion for calendar 2014, $1.2 billion for the seven months ended December 31, 2013 and $2.7 billion and $3.1 billion for fiscal 2013 and 2012, respectively.

Most of our export sales of potash crop nutrients are marketed through a North American export association, Canpotex, which may fund its operations in part through third-party financing facilities. As a member, Mosaic or our subsidiaries are contractually obligated to reimburse Canpotex for their pro rata share of any operating expenses or other liabilities incurred. The reimbursements are made through reductions to members’ cash receipts from Canpotex.

We incur liabilities for reclamation activities and Gypstack closures in our Florida and Louisiana operations where, in order to obtain necessary permits, we must either pass a test of financial strength or provide credit support, typically in the form of cash deposits, surety bonds or letters of credit. The surety bonds generally expire within one year or less but a substantial portion of these instruments provide financial assurance for continuing obligations and, therefore, in most cases, must be renewed on an annual basis. As of December 31, 2014, we had $179.9 million in surety bonds outstanding, of which $170.1 million is for reclamation obligations, primarily related to mining in Florida, and $9.8 million is for other matters.