Leases and Rentals

12 Months Ended

Dec. 31, 2017

Leases and Rentals [Abstract]

Leases and Rentals

Note 18– Leases and Rentals

Description of operating leases. The Company’s operating leases are primarily for office space and certain computer and other equipment. Some of these leases include renewal options and other incentives that are amortized over the life of the lease.Leases active in 2017 had terms ranging from one month to 18 years.

Rental expense and payments. For the years ended December 31, net rental expenses for operating leases were approximately:

(In millions)	2017		2016		2015
Net rental expense for operating leases	$	162	$	151	$	165

As of December 31, 2017, future net minimum rental payments under non-cancelable operating leases were approximately $580 million, payable as follows:

(In millions)	Operating Lease Payments
2018	$	130
2019	$	113
2020	$	94
2021	$	73
2022	$	58
2023 and thereafter	$	114

The Company also has capital lease arrangements. See Note 17 and Note 5 for further information on assets recorded under capital leases and the related obligations.