LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2014

The Company is committed under long-term leases for the rental of premises and equipment. These leases have varying renewal options and require, in certain instances, the payment of insurance, real estate taxes and other operating expenses.

At December 31, 2014, the aggregate minimum rental commitments under these non-cancelable operating leases and capital leases, exclusive of renewals, are as follows for the years ended December 31:



(in millions)	Operating Leases		Capital Leases
2015		$162		$8
2016	148		7
2017	124		6
2018	92		2
2019	59		1
Thereafter	167		9
Total minimum lease payments		$752		$33
Amounts representing interest	N/A		(9		)
Present value of net minimum lease payments	N/A			$24

Rental expense for such leases for the years ended December 31, 2014, 2013, and 2012 totaled $214 million, $224 million, and $203 million, respectively, and is presented in the Consolidated Statements of Operations in occupancy and equipment expense.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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