Leased Vehicles

Our operating lease program is offered primarily in the North America Segment. At September 30, 2014 and December 31, 2013, the amount of leased vehicles accounted for as operating leases in the International Segment is insignificant; therefore, the following information regarding our leased vehicles is presented on a consolidated basis.

Following is a summary of our leased vehicles (in millions):



	September 30, 2014			December 31, 2013
Leased vehicles	$	7,972		$	4,684
Manufacturer incentives	(1,171		)	(659		)
	6,801			4,025
Less: accumulated depreciation	(1,005		)	(642		)
Leased vehicles, net	$	5,796		$	3,383

A summary of the changes in our leased vehicles is as follows (in millions):



	Nine Months Ended September 30,
	2014			2013
Balance at beginning of period	$	4,025		$	1,976
International operations acquisition	—			9
Leased vehicles purchased	4,077			2,180
Leased vehicles returned - end of term	(662		)	(192		)
Leased vehicles returned - default	(39		)	(16		)
Manufacturer incentives	(524		)	(288		)
Foreign currency translation	(76		)	(22		)
Balance at end of period	$	6,801		$	3,647

The following table summarizes minimum rental payments due to us as lessor under operating leases (in millions):



	Years Ending December 31,
	2014		2015		2016		2017		2018		2019
Minimum rental payments under operating leases	$	272	$	1,012	$	780	$	366	$	51	$	3

At September 30, 2014 and December 31, 2013, our Canadian subsidiary was servicing $146 million and $303 million of leased vehicles for a third party.