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Leased Vehicles

3 Months Ended

Mar. 31, 2015

Property Subject to or Available for Operating Lease, Net [Abstract]

Our operating lease program is offered primarily in the North America Segment. The following information regarding our leased vehicles is presented on a consolidated basis (in millions):



	March 31, 2015			December 31, 2014
Leased vehicles	$	12,231		$	9,747
Manufacturer incentives	(1,880		)	(1,479		)
	10,351			8,268
Less: accumulated depreciation	(1,412		)	(1,208		)
Leased vehicles, net	$	8,939		$	7,060

At March 31, 2015 and December 31, 2014, our Canadian subsidiary was servicing $74 million and $110 million of leased vehicles for a third party.

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



	Years Ending December 31,
	2015		2016		2017		2018		2019
Minimum rental payments under operating leases	$	1,160	$	1,365	$	923	$	214	$	13

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details