COMMITMENTS

LEASES—The Company and its subsidiaries enter into long-term non-cancelable lease arrangements which, for accounting purposes, are classified as either operating lease or capital lease. Operating leases primarily include certain transmission lines, office rental and site leases. Operating lease rental expense for the years ended December 31, 2013, 2012, and 2011 was $46 million, $57 million and $59 million, respectively. Capital leases primarily include transmission lines at our subsidiaries in Brazil, vehicles, and office and other operating equipment. Capital leases are recognized in Property, Plant and Equipment within “Electric generation and distribution assets.” The gross value of the capital lease assets as of December 31, 2013 and 2012 was $93 million and $94 million, respectively. The table below sets forth the future minimum lease payments under operating and capital leases for continuing operations together with the present value of the net minimum lease payments under capital leases as of December 31, 2013 for 2014 through 2018 and thereafter:



	Future Commitments for
December 31,	Capital Leases		Operating Leases
	(in millions)
2014	$	13	$	41
2015	13		42
2016	12		40
2017	11		40
2018	10		40
Thereafter	136		399
Total	195		$	602
Less: Imputed interest	120
Present value of total minimum lease payments	$	75

CONTRACTS—The Company’s operating subsidiaries enter into long-term contracts for construction projects, maintenance and service, transmission of electricity, operations services and purchase of electricity and fuel. In general, these contracts are subject to variable quantities or prices and are terminable in limited circumstances only. Electricity purchase contracts primarily include energy auction agreements at our Brazil subsidiaries with extended terms from 2013 through 2028. The table below sets forth the future minimum commitments for continuing operations under these contracts as of December 31, 2013 for 2014 through 2018 and thereafter. Actual purchases under these contracts for the years ended December 31, 2013, 2012, and 2011 are also presented:



	Electricity Purchase Contracts		Fuel Purchase Contracts		Other Purchase Contracts
Actual purchases during the year ended December 31,	(in millions)
2011	$	2,463	$	1,577	$	1,515
2012	2,819		1,832		1,637
2013	2,665		1,590		1,743
Future commitments for the year ending December 31,
2014	$	2,793	$	1,274	$	1,526
2015	2,792		718		1,326
2016	2,808		437		975
2017	2,403		432		674
2018	2,538		434		576
Thereafter	27,831		3,451		5,419
Total	$	41,165	$	6,746	$	10,496