Leased Assets

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Leased Assets Text Block

17. Leased Assets

The Corporation and certain of its subsidiaries lease drilling rigs, tankers, office space and other assets for varying periods under contractual obligations accounted for as operating leases. Operating lease expenses for drilling rigs used to drill development wells and successful exploration wells are capitalized. At December 31, 2014, future minimum rental payments applicable to non‑cancelable operating leases with remaining terms of one year or more (other than oil and gas property leases) are as follows (in millions):

2015	$	773
2016		627
2017		422
2018		348
2019		303
Remaining years		345
Total minimum lease payments		2,818
Less: Income from subleases		36
Net minimum lease payments	$	2,782

Rental expense was as follows:

	2014		2013		2012
	(In millions)
Total rental expense	$	248	$	355	$	375
Less: Income from subleases		17		15		15
Net rental expense	$	231	$	340	$	360