LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2016

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

At December 31, 2016, the aggregate minimum rental commitments under these non-cancelable operating leases and capital leases, exclusive of renewals, are presented below for the years ended December 31:



(in millions)	Operating Leases		Capital Leases
2017		$182		$7
2018	157		3
2019	122		2
2020	102		2
2021	82		2
Thereafter	164		9
Total minimum lease payments		$809		$25
Amounts representing interest	N/A		(9		)
Present value of net minimum lease payments	N/A			$16

Occupancy and equipment expense included rental expense for non-cancelable operating leases and capital leases of $208 million, $205 million, and $214 million for the years ended December 31, 2016, 2015, and 2014, respectively.