COMMITMENTS

LEASES—The Company and its subsidiaries enter into long-term non-cancelable lease arrangements which, for accounting purposes, are classified as either an 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, 2014, 2013, and 2012 was $58 million, $46 million and $57 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, 2014 and 2013 was $80 million and $93 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, 2014 for 2015 through 2019 and thereafter:



	Future Commitments for
December 31,	Capital Leases		Operating Leases
	(in millions)
2015	$	10	$	57
2016	10		57
2017	10		57
2018	10		57
2019	10		75
Thereafter	109		502
Total	159		$	805
Less: Imputed interest	96
Present value of total minimum lease payments	$	63

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, 2014 for 2015 through 2019 and thereafter. Actual purchases under these contracts for the years ended December 31, 2014, 2013, and 2012 are also presented:



	Electricity Purchase Contracts		Fuel Purchase Contracts		Other Purchase Contracts
Actual purchases during the year ended December 31,	(in millions)
2012	$	2,819	$	1,832	$	1,637
2013	2,665		1,590		1,743
2014	3,104		1,521		1,386
Future commitments for the year ending December 31,
2015	$	3,559	$	1,266	$	1,377
2016	3,660		819		930
2017	3,217		761		898
2018	3,335		502		707
2019	3,521		356		614
Thereafter	34,805		3,235		4,874
Total	$	52,097	$	6,939	$	9,400