Commitments

12 Months Ended

Dec. 31, 2012

Disclosure Text Block [Abstract]

Commitments

16.Commitments

Operating LeasesThe Company had $3.4billion in long-term drilling rig commitments that satisfy operating lease criteria. The Company also has various commitments under non-cancelable operating lease agreements of $614million for production platforms and equipment, buildings, facilities, compressors, and aircraft. These operating leases expire at various dates through 2026. Certain of these operating leases contain residual value guarantees at the end of the lease term, totaling $96million at December 31, 2012; however, no liabilityhas been accrued for residual value guarantees. Future minimum lease payments under operating leases atDecember 31, 2012, were as follows:

	Operating
millions	Leases
2013	$	817
2014		1,001
2015		791
2016		548
2017		400
Later years		442
Total future minimum lease payments	$	3,999

Total rent expense, net of sublease income, amounted to $136million in 2012,$143millionin2011,and $154million in 2010. Total rent expense includes contingent rent expense related to processing fees of $18 millionin 2012, $21million in 2011, and $20million in 2010.

Drilling Rig CommitmentsAnadarko has entered into various agreements to secure drilling rigs necessary to execute its drilling plans over the next several years. The table of future minimum lease payments above includes approximately $3.2billion related to 12 offshore drilling vessels and $183million related to certain contracts for U.S. onshore drilling rigs. Lease payments associated with the drilling of exploratory wells and development wells, net of amounts billed to partners, will initially be capitalized as a component of oil and gas properties, and either depreciated in future periods or written off as exploration expense.

Spar Platform and Production Vessel LeasesAnadarko has operating leases related to certain spar platforms in the Gulf of Mexico. The table of future minimum lease payments above includes approximately $354million for these agreements. These agreements also contain unrecorded residual value guarantees totaling $37 million at the end of the lease periods.

Other CommitmentsIn the normal course of business, the Company enters into other contractual agreements for processing, treating, transportation, and storage of natural gas, crude oil, and NGLs, as well as for other services. These agreements expire at various dates through 2028. At December 31, 2012, aggregate future payments under these contracts totaled $8.8 billion, of which $1.7 billion is expected to be paid in 2013, $1.4 billion in 2014, $1.1 billion in 2015, $881 million in 2016, $772million in 2017, and $2.9 billion thereafter.