Leases and Lease Commitments

12 Months Ended

Dec. 31, 2014

15. Leases and Lease Commitments

Total rental expense was $2.1 billion in 2014, $1.9 billion in 2013, and $1.9 billion in 2012.

Future minimum rental commitments under noncancelable operating leases for each of the next five years are as follows:

(Stated in millions)

2015	$	330
2016		259
2017		197
2018		156
2019		134
Thereafter		554
	$	1,630

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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