Leases and Rentals

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Leases and Rentals

Note 18.     Leases and Rentals

We lease certain equipment for the operations of our hotels under various lease agreements. The leases extend for varying periods through 2022 and generally are for a fixed amount each month. In addition, our corporate headquarters and several of our hotels are subject to leases of land or building facilities from third parties, which extend for varying periods through 2097 and generally contain fixed and variable components. The variable components of leases of land or building facilities are primarily based on the operating profit or revenues of the related hotels.

Our minimum future rents at December 31, 2014 payable under non-cancelable leases with third parties were as follows (in millions):

Years Ending December 31,	Operating Leases		Capital Leases
2015	$	80	$	11
2016		78		11
2017		64		11
2018		59		12
2019		59		12
Thereafter		667		216
Total minimum lease payments	$	1,007	$	273
Less amount representing interest				(117	)
Present value of minimum lease payments			$	156

Rent expense under non-cancelable operating leases consisted of the following (in millions):

	Year Ended December 31,
	2014			2013			2012
Minimum rent	$	98		$	105		$	102
Contingent rent		12			11			9
Sublease rent		(4	)		(4	)		(3	)
	$	106		$	112		$	108