Leases and Rentals

12 Months Ended

Dec. 31, 2016

Leases and Rentals [Abstract]

Leases and Rentals

Note 18– Leases and Rentals

Description of operating leases.The Company's operating leases are primarily for office space. Some of these leases include renewal options and other incentives that are amortized over the life of the lease.Office space leases active in 2016had terms ranging from one month to 18 years.

Rental expense and payments.For the years ended December 31, net rental expenses for operating leaseswereapproximately:

(In millions)	2016		2015		2014
Net rental expense for operating leases	$	151	$	165	$	150

As of December 31, 2016, future net minimum rental payments under non-cancelable operating leases were approximately $650 million, payable as follows:

(In millions)	Operating Lease Payments
2017	$	135
2018	$	119
2019	$	96
2020	$	81
2021	$	66
2022 and thereafter	$	164

The Company also has capital lease arrangements. See Note 17 and Note 5 for further information on assets recorded under capital leases and the related obligations.