Leased Assets

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Leased Assets

19. Leased Assets

The Corporation and certain of its subsidiaries lease gasoline stations, drilling rigs, tankers, office space and other assets for varying periods under contractual obligations accounted for as operating leases. Certain operating leases provide an option to purchase the related property at fixed prices. At December 31, 2013, future minimum rental payments applicable to non-cancelable operating leases with remaining terms of one year or more (other than oil and gas property leases) are as follows (in millions):

2014	$	805
2015		530
2016		126
2017		122
2018		106
Remaining years		843
Total minimum lease payments		2,532
Less: Income from subleases		54
Net minimum lease payments	$	2,478

Operating lease expenses for drilling rigs used to drill development wells and successful exploration wells are capitalized.

Rental expense was as follows:

	2013		2012		2011
	(In millions)
Total rental expense	$	355	$	375	$	348
Less: Income from subleases		15		15		12
Net rental expense	$	340	$	360	$	336