Note L. Operating Leases

The Company occupies office facilities under lease agreements that expire at various dates. In addition, data processing, office and transportation equipment is leased under agreements that expire at various dates. Most leases contain renewal options that provide for rent increases based on prevailing market conditions. Lease expenses for the years ended December 31, 2016, 2015 and 2014 were $60 million, $46 million and $55 million. Sublease revenue for the year ended December 31, 2014 was $1 million.

The table below presents the expected future minimum lease payments to be made under non-cancelable operating leases as of December 31, 2016.



(In millions)	Future Minimum Lease Payments
2017	$	48
2018	37
2019	30
2020	33
2021	34
Thereafter	244
Total	$	426

In connection with the planned relocation of the Company's global headquarters, on March 24, 2016, the Company sold the building in which it maintains the current principal executive offices of CNAF. Concurrently, the Company agreed to lease back the current office space until the relocation of the global headquarters under a separate lease agreement, which is expected to occur in 2018. The sale-leaseback agreement includes expected future minimum lease payments of $10 million in 2017 and $4 million in 2018.