Leases

Future minimum lease payments under non-cancelable rental and lease agreements, which have initial or remaining terms in excess of one year are as follows:



	As of December 31, 2018
	Capital Leases
	(In $ millions)
2019	42
2020	42
2021	40
2022	32
2023	23
Later years	88
Sublease income	—
Minimum lease commitments	267
Less amounts representing interest	(100	)
Present value of net minimum lease obligations	167



	As of December 31, 2018
	Operating Leases
	(In $ millions)
2019	43
2020	34
2021	25
2022	23
2023	21
Later years	130
Sublease income	—
Minimum lease commitments	276

The Company expects that, in the normal course of business, leases that expire will be renewed or replaced by other leases.

Rent expense recorded under all operating leases is as follows:



	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Total	96	91	77